2014-11-17T13:08:29-06:00 2013-12-31 161148763 FIRLEY MORAN FREER & EASSA CPA PC 5010 CAMPUSWOOD DR E SYRACUSE NY 13057 990 2013-01-01 141407718 HUDSON RIVER COMMUNITY CREDIT UNION HUDS 5186549028 ONE THIRD STREET CORINTH NY 12822 SUSAN COMMANDA CEO 5186549028 2014-11-17 1 TAMMY L REYES P00365032 3154727045 2013 2015-11-30 17:44:51Z STUART FIELDS ONE THIRD STREET CORINTH NY 12822 11287922 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 94 13 39926 14595 0 0 7342154 6936344 405020 410561 3712420 3857226 11459594 11204131 0 5500 0 0 3776203 4406810 0 0 0 5988047 5672761 9764250 10085071 1695344 1119060 174646210 179121095 151612204 156230954 23034006 22890141 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 OFFER RATES THAT WILL MEET THEIR NEEDS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 34 0 1 94 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 III VICE PRESIDENT 2.00 X X 0 0 0 MARGARET RABIDA DIRECTOR 2.00 X 0 0 0 STUART FIELDS 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 174206 0 53333 LORRAINE MAROLA CFO 40.00 X 121333 0 6543 295539 0 59876 2 0 1 0 FH ALEXANDER 313 USHERS ROAD BALLSTON LAKE NY 12019 CONSTRUCTION 1392939 FISERV 75 REMITTANCE DRIVE SUITE 6974 CHICAGO IL 60675 DATA PROCESSING 1367150 TECH II 4289 ROUTE 50 SARATOGA SPRINGS NY 12866 COMPUTER SYSTEM MAINTENANCE 121119 3 LOAN INTEREST RECEIVED 522100 6936344 6936344 6936344 403712 403712 90640 83791 6849 6849 6849 FEE INCOME 522100 2629250 2629250 OTHER OPERATING INCOME 522100 1188050 1188050 NON-MEMBER ATM FEES 522100 39926 39926 3857226 11204131 10760493 39926 403712 5500 295539 3341491 197523 306623 265634 22954 122548 92053 421862 892440 433644 19713 76823 962293 475561 202360 STATE TAXES 950 OFFICE OPERATIONS 766833 PROVISION FOR LEASE/LOA 605310 LOAN SERVICING 431018 146399 10085071 2328526 3226820 20865311 12840889 121407461 130220398 12851896 2963236 8758572 9888660 18112880 19432660 3173460 3511668 174646210 179121095 2031803 3127904 149580401 153103050 151612204 156230954 X 19000924 18857059 4033082 4033082 23034006 22890141 174646210 179121095 X 1119060 -1262925 X X 0 1 X 1 0 1322380 1322380 8742418 1239758 7502660 11314 11314 0 2775784 1712164 1063620 9888660 AVAILABLE FOR SALE SECURITIES 19432660 F 19432660 MEMBER SHARES & DEPOSITS 153103050 153103050 X 11197282 0 11197282 6849 6849 11204131 10078222 0 10078222 6849 6849 10085071 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, 2013 AND 2012. PART XI, LINE 4B - OTHER ADJUSTMENTS: GAIN ON SALE OF ASSETS INCLUDED IN EXPENSE FOR FINANCIAL STATEMENTS PURPOSES PART XII, LINE 4B - OTHER ADJUSTMENTS: GAIN ON SALE OF ASSETS INCLUDED IN EXPENSE FOR FINANCIAL STATEMENTS PURPOSES 1 SCHOLARSHIPS TO MEMBER STUDENTS PLANNING TO ATTEND AN ACCREDITED COLLEGE 5 5500 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 170466 0 3464 0 276 0 34322 0 19011 0 227539 0 0 0 PART I, LINE 4B SUSAN COMMANDA - $16,896 SUSAN E COMMANDA X 63500 58412 0 1 1 SUSAN E COMMANDA X 21095 17107 0 1 1 MARGARET FOOTE X 65708 46350 0 1 1 CHARLES PASQUARELL X 16754 13766 0 1 1 135635 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 LAST YEAR 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 LOSSES ON AVAILABLE FOR SALE SECURITIES -1,334,623. ACCUMULATED UNREALIZED GAINS ON RETIREMENT ASSETS 71,698. FORM 990, PART XII, LINE 2C: NO CHANGES TO PROCESS.