2013-05-14T13:13:09-05:00 2012-09-30 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2011-10-01 042348884 LEOMINSTER CREDIT UNION LEOM 9785378021 20 ADAMS STREET LEOMINSTER MA 01453 GARY ABRAMS EVPCOOCFO 9785378021 2013-05-06 1 GERALD B KISSELL P00092658 6123324300 2011 2016-02-24 21:20:13Z GORDON EDMONDS 20 ADAMS STREET LEOMINSTER MA 01453 26377136 0 X WWW.LEOMINSTERCU.COM X 1954 MA STATE CHARTERED CREDIT UNION 11 11 161 0 187595 -25376 0 0 20943575 20104602 7443311 6184808 85745 87726 28472631 26377136 1000 114368 6186534 5037780 8671435 8946873 0 0 0 10472172 10622009 25331141 24721030 3141490 1656106 614581509 619149841 557040893 556933050 57540616 62216791 X LEOMINSTER CREDIT UNION IS A COMMUNITY-BASED FINANCIAL SERVICES PROVIDER. WE EXIST TO FULFILL OUR MEMBERS FINANCIAL NEEDS THROUGH OUTSTANDING SERVICE AND EFFECTIVE TECHNOLOGY. AS A RESPONSIBLE CORPORATE CITIZEN, WE ARE COMMITTED TO ENRICHING THE COMMUNITIES IN WHICH WE LIVE AND WORK. 0 0 TO SERVE OUR MEMBERS, OUR HIGHEST EXPENSE IS INTEREST PAID ON CERTIFICATES OF DEPOSIT. WE HAVE 5,528 CDS, TOTALING $181,848,030. WE PAID $3,135,975 IN INTEREST ON THESE ACCOUNTS. OUR SECOND-HIGHEST EXPENSE IS INTEREST PAID ON INDIVIDUAL RETIREMENT ACCOUNTS FOR OUR MEMBERS. WE HAVE 2,775 ACCOUNTS, TOTALING $43,647,308. WE PAID $745,294 IN INTEREST ON THESE ACCOUNTS. OUR THIRD-HIGHEST EXPENSE IS INTEREST PAID ON DEMAND DEPOSIT ACCOUNTS FOR OUR MEMBERS. WE HAVE 17,323 ACCOUNTS, TOTALING $94,152,838. WE PAID $548,339 IN INTEREST ON THESE ACCOUNTS. WE CONTINUE TO MAKE CREDIT AVAILABLE TO OUR MEMBERS FOR THE PURCHASE OF HOMES, VEHICLES, AND SMALL BUSINESSES. WE RAISE CAPITAL BY RECEIVING MEMBER DEPOSITS AND PAYING INTEREST ON THOSE DEPOSITS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 11967 0 1 161 1 1 1 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X GARY ABRAMS 9784667263 20 ADAMS STREET LEOMINSTER MA 01453 ANTHONY GASBARRO 2.00 X X 0 0 0 MICHAEL SAVAGEAU 1.00 X X 0 0 0 RICHARD SHEPPARD 1.00 X X 0 0 0 AMEDEO BILOTTA 1.00 X 2000 0 0 BRUCE BOLLIVAR 1.00 X 0 0 0 ANDREW COUSINS 1.00 X 0 0 0 NANCY GRAVES 1.00 X 0 0 0 GIULIO GRECO 1.00 X 2000 0 0 HENRY KULIK 1.00 X 0 0 0 JOYCE LAFLEUR 1.00 X 0 0 0 JOSEPH QUINTAL 1.00 X 0 0 0 GORDON EDMONDS 40.00 X 318002 0 21826 PAUL GILBODY 40.00 X 0 0 0 GARY ABRAMS 40.00 X 230467 0 33802 JOHN O'BRIEN 40.00 X 165575 0 14599 CAROL SOUTHWORTH 40.00 X 156389 0 10285 BARBARA MAHONEY 40.00 X 143975 0 22515 JANET BELSKY 40.00 X 120653 0 11783 PETER BRYTOWSKI 40.00 X 124209 0 18401 SETH WISH 40.00 X 147746 0 26702 HEATHER DUMAIS 40.00 X 107267 0 17217 1518283 0 177130 13 0 1 0 FISERV PO BOX 22705 LINCOLN NE 68542 IT SERVICE PROVIDER 611824 PAETEC PO BOX 1283 BUFFALO NY 14240 TELEPHONE 235868 LEE & MASON FINANCIAL SERVICES PO BOX 270 NORTHVILLE NY 12134 AUTO LOAN INSURANCE 221780 RED HAWK FIRE & SECURITY PO BOX 677671 DALLAS TX 752677671 ATM SERVICES & SECURITY 192315 NATIONAL GRID PO BOX 11737 NEWARK NJ 071014737 ELECTRIC UTILITY 129240 13 INTEREST ON LOANS 522100 16216139 16216139 SERVICE CHARGES AND FE 522100 3539129 3351534 187595 OTHER INCOME 522100 349334 349334 20104602 6020893 6020893 87726 0 87726 87726 87726 163915 0 163915 163915 163915 26377136 19917007 187595 6272534 113818 550 5037780 1194867 5901822 382345 912572 555267 4682 180000 522027 424767 2213234 990672 38433 41617 2422359 1215391 798759 PROVISION FOR LOAN LOSS 678786 COLLECTIONS 293746 SECURITY 261431 HUMAN RESOURCES 109938 426167 24721030 5116942 4841701 337764331 347318982 536014 625955 23113824 9655213 13248885 13458611 245645545 239781909 5365500 5318800 6904292 7803883 614581509 619149841 3199330 3175553 829148 867432 553012415 552890065 557040893 556933050 X 0 0 0 0 57540616 62216791 57540616 62216791 614581509 619149841 X 1656106 3020069 X X 0 1 1 X 0 0 1 1378459 1378459 12326377 3326218 9000159 664434 214797 449637 8663294 6045922 2617372 81260 68276 12984 13458611 MEMBERS' SHARES 480065065 BORROWED FUNDS 72825000 552890065 26377136 24721030 1656106 3020069 3020069 4676175 26377136 0 26377136 0 26377136 24721030 0 24721030 0 24721030 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY INSURANCE AND TAXES ON BEHALF OF ITS MORTGAGE LOAN ACCOUNTS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED HOLDING GAINS ON INVESTMENTS CLASSIFIED AS AVAILABLE-FOR-SALE 3,020,069. 1 CLINTON HOSPITAL FOUNDATION 201 HIGHLAND ST CLINTON MA 01510 041185520 501(C)(3) 10000 EMERGENCY DEPARTMENT WACHUSETT REGIONAL SCHOOL DISTRICT 1754 MAIN ST JEFFERSON MA 01522 456422356 501(C)(3) 7000 EDUCATION STARBURST 2012 320 PLEASANT ST LEOMINSTER MA 01453 042784618 501(C)(3) 6000 FIREWORKS DOYLE FIELD FOUNDATION 40 ALBERT DR LEOMINSTER MA 01453 542106411 501(C)(3) 10000 FOOTBALL FIELD 4 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE CREDIT UNION INFORMALLY FOLLOWS UP WITH GRANT RECIPIENTS AND ENSURES THAT GRANT FUNDS ARE USED FOR THE PURPOSE INTENDED. X X X X 0 0 0 GORDON EDMONDS 251496 0 59500 0 7006 0 19600 0 2226 0 339828 0 0 0 GARY ABRAMS 185417 0 38975 0 6075 0 19080 0 14722 0 264269 0 0 0 JOHN O'BRIEN 141799 0 23776 0 0 0 13185 0 1414 0 180174 0 0 0 CAROL SOUTHWORTH 131938 0 24451 0 0 0 4749 0 5536 0 166674 0 0 0 BARBARA MAHONEY 121856 0 22119 0 0 0 8138 0 14377 0 166490 0 0 0 SETH WISH 122763 0 24983 0 0 0 12295 0 14407 0 174448 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11 THE AVP/TREASURY AND EXECUTIVE VICE PRESIDENT REVIEW FORM 990 PRIOR TO ITS FILING. A COPY IS ALSO PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C WE SHARE OUR CONFLICT OF INTEREST POLICY WITH NEW EMPLOYEES WHEN WE HIRE THEM, AND THEY SIGN OFF TO ACKNOWLEDGE RECEIPT. THIS POLICY OUTLINES THE PARAMETERS AROUND ACTIVITIES WHICH CONFLICT WITH OR APPEAR TO CONFLICT WITH THE BUSINESS INTERESTS OF LCU. ANNUALLY, WE DISTRIBUTE OUR ETHICS POLICY AND WHISTLEBLOWER POLICY TO REITERATE THE GUIDELINES IN REFERENCE TO CONFLICT OF INTEREST AND THE PROCESS IN PLACE TO ADDRESS ISSUES THAT MAY ARISE. EMPLOYEES SIGN OFF ON BOTH OF THESE PROCESSES ANNUALLY TO ACKNOWLEDGE THEIR RECEIPT. FORM 990, PART VI, SECTION B, LINE 15 HUMAN RESOURCES REVIEWS ALL RECOMMENDATIONS TO INCREASE THE SALARY OF ITS OFFICERS AND KEY EMPLOYEES WITHIN THE CREDIT UNION. HR REFERENCES PRE-DETERMINED SALARY RANGES FOR THE RESPECTIVE POSITION, AS WELL AS INFORMATION FROM PURCHASED SALARY SURVEYS TO DETERMINE THE APPROPRIATENESS OF THE RECOMMENDATION. IN ADDITION, HR LOOKS AT THE EQUITY TO COMPARABLE ROLES WITHIN THE CREDIT UNION BEFORE APPROVING THE RECOMMENDATION. FORM 990, PART VI, SECTION C, LINE 19 OUR GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF OUR BRANCHES FOR MEMBERS TO REVIEW. WE DO NOT MAKE OUR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: UNREALIZED HOLDING GAINS ON INVESTMENTS CLASSIFIED AS AVAILABLE-FOR-SALE 3,020,069. TOTAL TO FORM 990, PART XI, LINE 5: 3,020,069. NO CHANGE IN REVIEW PROCESS. LCU INSURANCE SERVICES LLC 20 ADAMS STREET LEOMINSTER MA 01453 452079582 INSURANCE SERVICES MA 14970 6299 LEOMINSTER CREDIT UNION