2015-11-11T10:07:39-06:00 2014-12-31 161148763 FIRLEY MORAN FREER & EASSA CPA PC 5010 CAMPUSWOOD DR E SYRACUSE NY 13057 990 2014-01-01 141407718 HUDSON RIVER COMMUNITY CREDIT UNION HUDS 5186549028 ONE THIRD STREET CORINTH NY 12822 SUSAN COMMANDA CEO 5186549028 2015-11-03 1 TAMMY L REYES P00365032 3154727045 2014 2016-04-25 22:37:26Z STUART FIELD ONE THIRD STREET CORINTH NY 12822 18878858 0 X WWW.HRCCU.ORG X STATE CHARTERED CREDIT UNION 1954 NY HRCCU PROVIDES UNIQUE, QUALITY FINANCIAL SERVICES TO IMPROVE THE FINANCIAL WELL-BEING OF MEMBERS AND THEIR FAMILIES. HRCCU SERVES AS AN ALTERNATIVE TO BANKS AND OTHER FINANCIAL INSTITUTIONS BY PROVIDING BASIC SAVINGS AND LOAN SERVICES WITH EMPHASIS ON HIGH QUALITY MEMBER SERVICE. 7 7 96 14 103147 11840 0 0 6936344 7708404 410561 298414 3857226 4372040 11204131 12378858 5500 6000 0 0 4406810 4982779 0 0 0 5672761 6494684 10085071 11483463 1119060 895395 179121095 185479193 156230954 160659245 22890141 24819948 THE PURPOSE OF HUDSON RIVER COMMUNITY CREDIT UNION IS TO PROVIDE QUALITY SERVICES AND PROMOTE THE FINANCIAL WELL-BEING OF ITS MEMBERS AND THEIR FAMILIES. 0 0 THE CREDIT UNION PROVIDES LOW-COST FINANCIAL PRODUCTS AND SERVICES INCLUDING ONLINE-BANKING, ACCESS TO ATM'S AND AN AUDIO-RESPONSE SYSTEM. HRCCU OFFERS LOW INTEREST RATES ON LOANS AND CREDIT CARDS. THE WIDE RANGE OF LOAN PRODUCTS AND INTEREST RATES ENABLE THE CREDIT UNION TO ACCOMODATE AS MANY MEMBER LOANS AS POSSIBLE. COMPETITIVE DIVIDEND RATES ARE PAID ON SAVINGS AND INVESTMENT ACCOUNTS. HRCCU PROVIDES A VARIETY OF PRODUCTS TO MEMBERS TO ACCOMPLISH IT'S MISSION. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 30 0 1 96 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 NY X JAMIE LEVENDUSKY 5186549028 ONE THIRD STREET CORINTH NY 12822 CAROL ANN PACCO-LONG TREASURER 2.00 X X 0 0 0 CHARLES PASQUARELL VICE PRESIDENT 2.00 X X 0 0 0 MARGARET RABIDA DIRECTOR 2.00 X 0 0 0 STUART FIELD PRESIDENT 2.00 X X 0 0 0 MARGARET FOOTE DIRECTOR 2.00 X 0 0 0 HAROLD JONES DIRECTOR 2.00 X 0 0 0 THOMAS UNCHER SECRETARY 2.00 X X 0 0 0 SUSAN COMMANDA CEO 40.00 X 214440 0 56838 LORRAINE MAROLA CFO 40.00 X 152509 0 7255 DOUG COLLIGNON CIO 40.00 X 119839 0 9720 CATHY CARPENTER VP OPERATIONS 40.00 X 108853 0 11462 SHELLEY TRACY VP RISK MANAGEMENT 40.00 X 100237 0 12367 695878 0 97642 5 0 1 0 FISERV 75 REMITTANCE DRIVE SUITE 6974 CHICAGO IL 60675 DATA PROCESSING 2013237 BG LENDERS PO BOX 994 GLENS FALLS NY 12801 REPOSSESSION/COLLECTION 221171 FH ALEXANDER INC 313 USHERS ROAD BALLSTON LAKE NY 12019 CONSTRUCTION SERVICES 131212 MACPAGE LLC 30 LONG CREEK DRIVE SOUTH PORTLAND ME 04106 AUDIT SERVICES 104261 4 LOAN INTEREST RECEIVED 522100 7708404 7708404 7708404 330114 330114 6468300 6500000 -31700 -31700 -31700 FEE INCOME 522100 2725442 2725442 OTHER OPERATING INCOME 522100 1378992 1311673 67319 NON-MEMBER ATM FEES 522100 35828 35828 231778 231778 4372040 12378858 11977297 103147 298414 6000 366950 3657542 242106 374771 341410 7946 118814 179430 439401 285822 471709 34303 62032 1230940 511504 83720 STATE TAXES 1500 OFFICE OPERATIONS 1486095 PROVISION FOR LEASE/LOA 937901 LOAN SERVICING 490240 153327 11483463 3226820 3496586 12840889 7911182 130220398 146612609 13285519 3477935 9888660 9807584 19432660 13787309 3511668 3863923 179121095 185479193 3127904 3291227 426338 619491 152676712 156748527 156230954 160659245 X 18857059 20737951 4033082 4081997 22890141 24819948 179121095 185479193 X 895395 1034412 X X 0 1 X 1 0 0 1 X 1322380 1322380 8765663 1493146 7272517 18936 12040 6896 3069050 1972749 1096301 109490 109490 9807584 AVAILABLE FOR SALE SECURITIES 13787309 F 13787309 MEMBER SHARES & DEPOSITS LESS ESCROW 156748527 156748527 X 12378858 0 12378858 0 12378858 11483463 0 11483463 0 11483463 PART IV, LINE 2B: HRCCU SERVICES MORTGAGE ESCROW ACCOUNTS FOR MEMBERS AND HAS THE AUTHORITY TO MAKE PAYMENTS FOR PROPERTY TAXES, HOMEOWNERS INSURANCE AND OTHER EXPENSES FROM THOSE ACCOUNTS. PART X, LINE 2: THE CREDIT UNION FOLLOWS FASB ASC TOPIC 740-10, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES", WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THERE WAS NO IMPACT TO THE ACCOMPANYING FINANCIAL STATEMENTS ATTRIBUTABLE TO THIS FASB FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013. 1 SCHOLARSHIPS TO MEMBER STUDENTS PLANNING TO ATTEND AN ACCREDITED COLLEGE 6 6000 PART I, LINE 2: ANNUAL COLLEGE SCHOLARSHIP AND MAKING LIFE BETTER CONTESTS POLICY [SELECTED EXCERPTS]: VIII. SCHOLARSHIPS AWARDED [IN PART] - AWARD RECIPIENTS WILL HAVE THEIR SCHOLARSHIP AWARDS DIRECTLY DEPOSITED INTO THEIR HRCCU SHARE ACCOUNTS ONCE PROOF OF A PAID RECEIPT FROM THE COLLEGE THEY WILL BE ATTENDING HAS BEEN RECEIVED BY HRCCU'S SALES, MARKETING DEPARTMENT. IF THE AWARD RECIPIENT DECIDES NOT TO ATTEND COLLEGE OR REFUSES THE AWARD, THEN THE SCHOLARSHIP WILL BE AWARDED TO THE NEXT HIGHEST SCORING APPLICANT. X X 0 1 0 SUSAN COMMANDA CEO 186332 0 27826 0 282 0 35529 0 21309 0 271278 0 0 0 LORRAINE MAROLA CFO 132900 0 19426 0 183 0 6645 0 610 0 159764 0 0 0 PART I, LINE 4B SUSAN COMMANDA - $16,896 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ARE THOSE WHO USE THE SERVICES OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING WHEN VACANCIES OCCUR. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING WHEN VACANCIES OCCUR AND MAY APPROVE OTHER BUSINESS AS THE BOARD OF DIRECTORS DEEMS APPROPRIATE. PROXY VOTES ARE PROHIBITED AND ALL PRESENT MEMBERS HAVE ONE VOTE. MEMBERS MAY CALL A SPECIAL MEETING WITH WRITTEN REQUEST OF 10% OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO FILING, THE 990 IS REVIEWED BY THE CONTROLLER AND CHIEF FINANCIAL OFFICER. FORM 990, PART VI, SECTION B, LINE 12C THE OFFICERS, DIRECTORS AND KEY EMPLOYEES REVIEW THE CONFLICT OF INTEREST POLICY AT LEAST ANNUALLY AND WILL BRING ITEMS TO THE BOARD IF CIRCUMSTANCES WARRANT IT. FORM 990, PART VI, SECTION B, LINE 15 HRN MANAGEMENT SALARY RANGES ARE USED WHICH ARE BASED ON A VARIETY OF SURVEY DATA AND ARE UPDATED ANNUALLY. THE BOARD REVIEWS SALARY DATA ANNUALLY AS PART OF THE BUDGET PROCESS. THEY JUST COMPLETED A MARKET SALARY REVIEW 2 YEARS AGO OF ALL STAFF. THE BOARD SETS THE CEO'S SALARY AS A SEPARATE ITEM OUTSIDE OF THE SOFTWARE. THEY ALSO SET THE SALARY MATRIX USED IN THE ANNUAL INCREMENT FOR ALL STAFF IN THE BUDGET PROCESS AS WELL. THE SALARY POLICY DICTATES THE SOFTWARE WE USE. FORM 990, PART VI, SECTION C, LINE 18 HRCCU WILL MAKE ITS 990 AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 HRCCU WILL MAKE THESE DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: ACCUMULATED UNREALIZED GAINS ON AVAILABLE FOR SALE SECURITIES 985,116. ACCUMULATED UNREALIZED GAINS ON RETIREMENT ASSETS 17,596. RECLASSIFICATION ADJUSTMENT FOR LOSS ON INVESTMENT SALES INCLUDED IN INCOME 31,700. FORM 990, PART XII, LINE 2C: NO CHANGES TO PROCESS.