ALL ONE CREDIT UNION: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- ALL ONE CREDIT UNION (EIN 04-2348884)
- Tax period
- 2010-10-01 to 2011-09-30
- Filed
- 2012-08-09
- IRS object ID
- 201212229349300736
- Schema version
- 2010v3.4
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-08-09T11:44:37-05:00 | Timestamp |
| Tax Period End Date | 2011-09-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGLADREY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 801 NICOLLET MALL SUITE 1100 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55402 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-10-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042348884 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LEOMINSTER CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | LEOM | NameControl |
| Phone | 9785378021 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 ADAMS STREET | AddressLine1 |
| City | LEOMINSTER | City |
| State | MA | State |
| ZIP Code | 01453 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | GARY ABRAMS | Name |
| Title | EVP, CFO, COO | Title |
| Phone | 9785378021 | Phone |
| Date Signed | 2012-08-09 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | GERALD B KISSELL | Name |
| Phone | 6123324300 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | GORDON EDMONDS | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 ADAMS STREET | AddressLine1 |
| City | LEOMINSTER | City |
| State | MA | State |
| ZIP Code | 01453 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 28472631 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.LEOMINSTERCU.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1954 | YearFormation |
| State Legal Domicile | MA | StateLegalDomicile |
| Activity Or Mission Description | STATE CHARTERED CREDIT UNION | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 158 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 126058 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -41057 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 22706064 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 20943575 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 6665069 | InvestmentIncomePriorYear |
| Investment Income Current Year | 7443311 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 85745 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 29371133 | TotalRevenuePriorYear |
| Total Revenue Current Year | 28472631 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 1000 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 1000 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 7563342 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 6186534 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 5626877 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 8671435 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 12449708 | OtherExpensePriorYear |
| Other Expenses Current Year | 10472172 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 25640927 | TotalExpensesPriorYear |
| Total Expenses Current Year | 25331141 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 3730206 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 3141490 | RevenuesLessExpensesCY |
| Total Assets BOY | 591202726 | TotalAssetsBOY |
| Total Assets EOY | 614581509 | TotalAssetsEOY |
| Total Liabilities BOY | 541177653 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 557040893 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 50025073 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 57540616 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | 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. | MissionDescription |
| Significant New Program Services | 1 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | TO SERVE OUR MEMBERS, OUR HIGHEST EXPENSE IS INTEREST PAID ON CERTIFICATES OF DEPOSIT. WE HAVE 5984 CDS, TOTALING $187,352,817. WE PAID $3,866,023 IN INTEREST ON THESE ACCOUNTS. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | OUR SECOND-HIGHEST EXPENSE IS INTEREST PAID ON INDIVIDUAL RETIREMENT ACCOUNTS FOR OUR MEMBERS. WE HAVE 2786 ACCOUNTS, TOTALING $39,965,571. WE PAID $850,974 IN INTEREST ON THESE ACCOUNTS. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | OUR THIRD-HIGHEST EXPENSE IS INTEREST PAID ON MONEY MARKET ACCOUNTS FOR OUR MEMBERS. WE HAVE 903 ACCOUNTS, TOTALING $70,926,900. WE PAID $617,408 IN INTEREST ON THESE ACCOUNTS. | Description |
Activity Other ActivityOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | 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. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 1 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 1 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 14748 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 158 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 1 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 1 | LocalChapters |
| Policies Reference Chapters | 1 | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GARY ABRAMS | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 9785377263 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 ADAMS STREET | AddressLine1 |
| City | LEOMINSTER | City |
| State | MA | State |
| ZIP Code | 01453 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (18 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| AMEDEO BILOTTA | ||||||||
| CHAIRMAN | 2.00 | X | X | 0 | 0 | 0 | ||
| ANTHONY GASBARRO | ||||||||
| VICE CHAIRMAN | 1.00 | X | X | 0 | 0 | 0 | ||
| MICHAEL SAVAGEAU | ||||||||
| TREASURER | 1.00 | X | X | 0 | 0 | 0 | ||
| RICHARD SHEPPARD | ||||||||
| ASSISTANT TREASURER | 1.00 | X | X | 0 | 0 | 0 | ||
| ROSEMARY BRACANI | ||||||||
| ASSISTANT TREASURER | 1.00 | X | X | 0 | 0 | 0 | ||
| GIULIO GRECO | ||||||||
| DIRECTOR | 1.00 | X | 0 | 4000 | 0 | |||
| ANDREW COUSINS | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| NANCY GRAVES | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| JOYCE LAFLEUR | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| JOSEPH QUINTAL | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| JOHN REEDY | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| GORDON EDMONDS | ||||||||
| PRESIDENT/CEO | 40.00 | X | 296872 | 0 | 21565 | |||
| GARY ABRAMS | ||||||||
| EVP/COO/CFO | 40.00 | X | 220703 | 0 | 32265 | |||
| JOHN O'BRIEN | ||||||||
| SVP | 40.00 | 163178 | 0 | 14411 | X | |||
| CAROL SOUTHWORTH | ||||||||
| SVP | 40.00 | 153490 | 0 | 9951 | X | |||
| PETER BRYTOWSKI | ||||||||
| VP | 40.00 | 123414 | 0 | 19044 | X | |||
| BARBARA MAHONEY | ||||||||
| VP | 40.00 | 136717 | 0 | 20983 | X | |||
| SETH WISH | ||||||||
| VP | 40.00 | 143193 | 0 | 25169 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1237567 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 4000 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 143388 | TotalOtherCompensation |
| Number Individuals GT100 K | 7 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| HARVARD PILGRIM HEALTH CARE | |||||
| PO BOX 970050 | BOSTON | MA | 02297 | HEALTH CARE INSURANCE | 997695 |
| FISERV | |||||
| PO BOX 22705 | LINCOLN | NE | 68542 | IT | 451616 |
| BROPHY & PHILLIPS CO INC | |||||
| 928 WEST CHESTNUT STREET | BROCKTON | MA | 02301 | CONTRACTOR | 278877 |
| WHIPPLE CONSTRUCTION | |||||
| 446 MAIN ST 7TH FLOOR | WORCESTER | MA | 01608 | CONTRACTOR | 264337 |
| PAETEC | |||||
| PO BOX 1283 | BUFFALO | NY | 14240 | TELEPHONE | 229672 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 17 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | 17782877 | 17782877 | |
| SERVICE CHARGES AND FE | 522100 | 3160698 | 3034640 | 126058 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 20943575 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 7228672 | TotalRevenueColumn |
| Exclusion | $7,228,672 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 85745 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 85745 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 85745 | TotalRevenueColumn |
| Exclusion | $85,745 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 214639 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 214639 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 214639 | TotalRevenueColumn |
| Exclusion | $214,639 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 28472631 | TotalRevenueColumn |
| Related Or Exempt Function Income | 20817517 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 126058 | UnrelatedBusinessRevenue |
| Exclusion | $7,529,056 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1000 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6186534 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 916435 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6042487 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 350178 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 842854 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 519481 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11003 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 173500 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 406478 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 594183 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1931136 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1353617 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 37478 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 48603 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2443072 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1073112 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1067339 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PROVISION FOR LOAN LOSS | 670082 |
| SECURITY | 230801 |
| COLLECTIONS | 180016 |
| HUMAN RESOURCES | 140415 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 111337 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 25331141 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4880907 | BOY |
| EOY | 5116942 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 346727601 | BOY |
| EOY | 337764331 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 489377 | BOY |
| EOY | 536014 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 22789588 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 9540703 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 12754734 | BOY |
| EOY | 13248885 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 214206350 | BOY |
| EOY | 245645545 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4976700 | BOY |
| EOY | 5365500 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7167057 | BOY |
| EOY | 6904292 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 591202726 | BOY |
| EOY | 614581509 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4378363 | BOY |
| EOY | 3199330 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 709737 | BOY |
| EOY | 829148 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 536089553 | BOY |
| EOY | 553012415 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 541177653 | BOY |
| EOY | 557040893 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 50025073 | BOY |
| EOY | 57540616 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 50025073 | BOY |
| EOY | 57540616 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 591202726 | BOY |
| EOY | 614581509 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 3141490 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 4374053 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 1 | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1378459 | OtherCostOrOtherBasis |
| Book Value | 1378459 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 11720440 | OtherCostOrOtherBasis |
| Depreciation | 2900396 | Depreciation |
| Book Value | 8820044 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 658934 | OtherCostOrOtherBasis |
| Depreciation | 170360 | Depreciation |
| Book Value | 488574 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 8933670 | OtherCostOrOtherBasis |
| Depreciation | 6399009 | Depreciation |
| Book Value | 2534661 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 98085 | OtherCostOrOtherBasis |
| Depreciation | 70938 | Depreciation |
| Book Value | 27147 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 13248885 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| MEMBERS' SHARES | $464,972,415 |
| BORROWED FUNDS | $88,040,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 553012415 | TotalOfAmounts |
| Total Revenue | 28472631 | TotalRevenue |
| Total Expenses | 25331141 | TotalExpenses |
| Excess Or Deficit For Year | 3141490 | ExcessOrDeficitForYear |
| Other | $4,374,053 | OtherAmount |
| Total Adjustments | 4374053 | TotalAdjustments |
| Excess Or Deficit Per FS | 7515543 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 28472631 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 28472631 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 28472631 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 25331141 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 25331141 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 25331141 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (3 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY INSURANCE AND TAXES ON BEHALF OF ITS MORTGAGE LOAN ACCOUNTS. | |
| 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. | DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: |
| UNREALIZED HOLDING GAIN ON AVAILABLE FOR SALE SECURITIES 4,374,053. | PART XI, LINE 8 - OTHER ADJUSTMENTS: |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (6 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GORDON EDMONDS | |||||||||||||
| 239009 | 0 | 55000 | 0 | 2863 | 0 | 19600 | 0 | 1965 | 0 | 318437 | 0 | 0 | 0 |
| GARY ABRAMS | |||||||||||||
| 176931 | 0 | 43772 | 0 | 0 | 0 | 18220 | 0 | 14045 | 0 | 252968 | 0 | 0 | 0 |
| JOHN O'BRIEN | |||||||||||||
| 135376 | 0 | 27802 | 0 | 0 | 0 | 13021 | 0 | 1390 | 0 | 177589 | 0 | 0 | 0 |
| CAROL SOUTHWORTH | |||||||||||||
| 126028 | 0 | 27462 | 0 | 0 | 0 | 4656 | 0 | 5295 | 0 | 163441 | 0 | 0 | 0 |
| BARBARA MAHONEY | |||||||||||||
| 114773 | 0 | 21944 | 0 | 0 | 0 | 7318 | 0 | 13665 | 0 | 157700 | 0 | 0 | 0 |
| SETH WISH | |||||||||||||
| 120424 | 0 | 22769 | 0 | 0 | 0 | 11447 | 0 | 13722 | 0 | 168362 | 0 | 0 | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (11 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| NEW PROGRAM SERVICES | FORM 990, PART III, LINE 2 | LEOMINSTER CREDIT UNION BEGAN OFFERING COMPREHENSIVE INSURANCE PRODUCTS TO ITS MEMBERS DURING THE YEAR. |
| FORM 990, PART VI, SECTION A, LINE 4 | THE BYLAWS WERE AMENDED TO LIMIT THE FOLLOWING: - THE NUMBER OF CONSECUTIVE YEARS THAT A CLERK CAN SERVE WAS LIMITED TO 3 YEARS. - THE NUMBER OF CONSECUTIVE YEARS THAT A TREASURER AND ASSISTANT TREASURER(S) CAN SERVE WAS LIMITED TO 3 YEARS. PRIOR TO AMENDING THE BYLAWS THERE WAS NO LIMIT TO THE NUMBER OF CONSECUTIVE TERMS SERVED BY THE CLERK, TREASURER, OR ASSISTANT TREASURER(S). | |
| 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 FINANCE OFFICER AND EXECUTIVE VICE PRESIDENT REVIEW FORM 990 PRIOR TO ITS FILING. | |
| 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 GAIN ON AVAILABLE FOR SALE SECURITIES 4,374,053. TOTAL TO FORM 990, PART XI, LINE 5: 4,374,053. |
| NO CHANGE IN REVIEW PROCESS |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LCU INSURANCE SERVICES LLC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 ADAMS STREET | AddressLine1 |
| City | LEOMINSTER | City |
| State | MA | State |
| ZIP Code | 01453 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 452079582 | EIN |
| Primary Activities | INSURANCE SERVICES | PrimaryActivities |
| Legal Domicile State | MA | LegalDomicileState |
| Total Income | -4639 | TotalIncome |
| EOY Assets | 1115 | EOYAssets |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LEOMINSTER CREDIT UNION | BusinessNameLine1 |