HarborOne Credit Union: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- HarborOne Credit Union (EIN 04-1123040)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-11-14
- IRS object ID
- 201133189349306228
- 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 | 2011-11-14T15:37:52-05:00 | Timestamp |
| Tax Period End Date | 2010-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WOLF & COMPANY PC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 99 HIGH STREET 21ST FLOOR | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02110 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 041123040 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HarborOne Credit Union | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | HARB | NameControl |
| Phone | 5088951000 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 770 Oak Street | AddressLine1 |
| City | Brockton | City |
| State | MA | State |
| ZIP Code | 023030720 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Joseph Casey | Name |
| Title | Chief Financial Officer | Title |
| Phone | 5088951000 | Phone |
| Date Signed | 2011-11-14 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Michael J Rowe CPA | Name |
| Phone | 6174399700 | Phone |
| Date Prepared | 2011-11-02 | DatePrepared |
| 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 | Joseph Casey | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 770 Oak Street | AddressLine1 |
| City | Brockton | City |
| State | MA | State |
| ZIP Code | 02303 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 116847910 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | harboronecu.com | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1917 | YearFormation |
| State Legal Domicile | MA | StateLegalDomicile |
| Activity Or Mission Description | THE MISSION STATEMENT OF HARBORONE CREDIT UNION IS TO CONTINUE TO BE RECOGNIZED AS A LEADING, EFFICIENTLY OPERATED AND PROFITABLE FINANCIAL INSTITUTION. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 10 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 529 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 264346 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 84223 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 91329753 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 89087523 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 11989253 | InvestmentIncomePriorYear |
| Investment Income Current Year | 7765204 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 103319006 | TotalRevenuePriorYear |
| Total Revenue Current Year | 96852727 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 22264747 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 24320245 | 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 | 73446255 | OtherExpensePriorYear |
| Other Expenses Current Year | 63347162 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 95711002 | TotalExpensesPriorYear |
| Total Expenses Current Year | 87667407 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 7608004 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 9185320 | RevenuesLessExpensesCY |
| Total Assets BOY | 1813095931 | TotalAssetsBOY |
| Total Assets EOY | 1850748006 | TotalAssetsEOY |
| Total Liabilities BOY | 1661583993 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 1690965315 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 151511938 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 159782691 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE MISSION STATEMENT OF HARBORONE CREDIT UNION IS TO CONTINUE TO BE RECOGNIZED AS A LEADING, EFFICIENTLY OPERATED AND PROFITABLE FINANCIAL INSTITUTION, MAINTAINING THE CONFIDENCE OF AND RESPONDING TO THE NEEDS OF ITS MEMBERS, ITS EMPLOYEES, ITS MARKETS AND ITS COMMUNITIES. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Description | HARBORONE CREDIT UNION PROVIDES A VARIETY OF FINANCIAL SERVICES TO INDIVIDUALS THROUGH ITS 13 OFFICES IN BROCKTON, MA AND SURROUNDING COMMUNITIES. ITS PRIMARY DEPOSIT PRODUCTS ARE SAVINGS, CHECKING, AND TERM CERTIFICATE ACCOUNTS AND ITS PRIMARY LENDING PRODUCTS ARE RESIDENTIAL MORTGAGE AND CONSUMER LOANS, INCLUDING INDIRECT AUTOMOBILE LENDING. | Description |
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | true | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | false | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | true | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 43879 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 529 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 10 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | true | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | true | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | JOSEPH CASEY | NamePerson |
| Telephone Number | 5088951000 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 770 OAK STREET | AddressLine1 |
| City | Brockton | City |
| State | MA | State |
| ZIP Code | 02303 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (22 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 |
|---|---|---|---|---|---|---|---|---|
| JAMES BLAKE | ||||||||
| CEO | 40.0 | X | X | 705739 | 0 | 759098 | ||
| WALLACE PECKHAM III | ||||||||
| Director | 1.0 | X | 1834 | 0 | 0 | |||
| JOSEPH BARRY | ||||||||
| Director | 1.0 | X | 1387 | 0 | 0 | |||
| DAVID FRENETTE | ||||||||
| Director | 1.0 | X | 8183 | 0 | 0 | |||
| GORDON JEZARD | ||||||||
| Director | 1.0 | X | 1868 | 0 | 0 | |||
| EDWARD KENT | ||||||||
| Director | 1.0 | X | 1822 | 0 | 0 | |||
| LAWRENCE SISKIND | ||||||||
| Director | 1.0 | X | 6788 | 0 | 0 | |||
| JOHN SVAGZDYS | ||||||||
| Director | 1.0 | X | 6277 | 0 | 0 | |||
| BARRY KORETZ | ||||||||
| Director | 1.0 | X | 7818 | 0 | 0 | |||
| STEVEN GREENE | ||||||||
| DIRECTOR | 1.0 | X | 75 | 0 | 0 | |||
| JOSEPH CASEY | ||||||||
| CFO | 40.0 | X | 361147 | 0 | 177864 | |||
| WAYNE DUNN | ||||||||
| SVO CHIEF TECHNOLOGY | 40.0 | 206238 | 0 | 36882 | X | |||
| CHRISTOPHER GIBBONS | ||||||||
| SVP Consumer Lending | 209018 | 0 | 39279 | X | ||||
| LEO DONAHUE | ||||||||
| SVP RETAIL | 40.0 | 208953 | 0 | 27222 | X | |||
| MARCIA DMITRUK | ||||||||
| SVP, MORTGAGE LENDING | 40.0 | 208438 | 0 | 35585 | X | |||
| PATRICIA WILLIAMS | ||||||||
| SVP HR | 40.0 | 188451 | 0 | 35564 | X | |||
| DAVID REILLY | ||||||||
| SVP Operations | 40.0 | 192375 | 0 | 28487 | X | |||
| JAMES RICE | ||||||||
| SVP Marketing | 40.0 | 178024 | 0 | 26845 | X | |||
| FRIEND WEILER | ||||||||
| SVP Comm Lending | 40.0 | 204328 | 0 | 12074 | X | X | ||
| LEO MACNEIL | ||||||||
| SVP Comm Relations | 40.0 | 172502 | 0 | 28618 | X | |||
| ROBERT MULLIGAN | ||||||||
| Mort Originator | 40.0 | 145449 | 0 | 29830 | X | |||
| MAUREEN WILKINSON | ||||||||
| VP | 40.0 | 160757 | 0 | 61618 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 3177471 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 1298966 | TotalOtherCompensation |
| Number Individuals GT100 K | 13 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| Connecticut Online Computer Center | |||||
| 135 Darling Drive | AVON | CT | 06001 | Data Processing | 3102145 |
| Hurley Chandler Chaffer Inc | |||||
| 2757 Pawtucket Ave Suite 200 | EAST PROVIDENCE | RI | 02914 | Marketing | 1123558 |
| Online Resources Corporation | |||||
| 4795 Meadow Wood Lane | CHANTILLY | VA | 20151 | Online Nanking | 515891 |
| Fairway Landscaping Lawn Care | |||||
| 718 Washington Street | SOUTH EASTON | MA | 02375 | Landscaping | 398374 |
| HARLAND CLARKE | |||||
| 10931 Laureate Drive | SAN ANTONIO | TX | 78249 | Check Printing | 343013 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 20 | NumberOfContractorsGT100K |
| Total Contributions | 0 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Business CodeBusinessCode | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| INCOME ON LOANS | 74430645 | 74430645 | ||
| DEPOSIT ACCOUNT FEES | 11141098 | 10876752 | 522100 | 264346 |
| OTHER INCOME | 2277296 | 2277296 | ||
| LOAN FEES | 1238484 | 1238484 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 89087523 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 4130923 | TotalRevenueColumn |
| Exclusion | $4,130,923 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 20000000 | Securities |
| Other | 3629464 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 19995183 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 4817 | Securities |
| Other | 3629464 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3634281 | TotalRevenueColumn |
| Exclusion | $3,634,281 | ExclusionAmount |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 0 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 96852727 | TotalRevenueColumn |
| Related Or Exempt Function Income | 88823177 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 264346 | UnrelatedBusinessRevenue |
| Exclusion | $7,765,204 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3847584 | Total |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 13429721 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1574817 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4090853 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1377270 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 354180 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 497765 | Total |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 541213 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1976656 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1604857 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4382048 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2883824 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 145268 | Total |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 55759 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 29896237 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2774518 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 116137 | Total |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| DEPOSIT EXPENSES & ASSESSMENTS | 4335096 |
| PROVISION FOR LOAN LOSS | 8391811 |
| FORECLOSET ASSET EXPENSE | 1239035 |
| LOAN EXPENSES | 1101800 |
| EQUIPMENT MAINTENANCE | 1246737 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1804221 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 87667407 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13109765 | BOY |
| EOY | 16115449 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 143396857 | BOY |
| EOY | 104878523 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1437742928 | BOY |
| EOY | 1450733458 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 42558532 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 13222560 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 29636156 | BOY |
| EOY | 29335972 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 108695339 | BOY |
| EOY | 158493935 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23418700 | BOY |
| EOY | 23418700 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 57096186 | BOY |
| EOY | 67771969 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1813095931 | BOY |
| EOY | 1850748006 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1331356 | BOY |
| EOY | 1157224 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2818260 | BOY |
| EOY | 2745129 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1657434377 | BOY |
| EOY | 1687062962 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1661583993 | BOY |
| EOY | 1690965315 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 151511938 | BOY |
| EOY | 159782691 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 151511938 | BOY |
| EOY | 159782691 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1813095931 | BOY |
| EOY | 1850748006 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 9185320 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -914567 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts | |
| Agent Trustee Etc | false | AgentTrusteeEtc |
| Included On FS | true | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 4268591 | OtherCostOrOtherBasis |
| Book Value | 4268591 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 27953521 | OtherCostOrOtherBasis |
| Depreciation | 7734273 | Depreciation |
| Book Value | 20219248 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 53635 | OtherCostOrOtherBasis |
| Depreciation | 37083 | Depreciation |
| Book Value | 16552 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Equipment | Equipment |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 10282784 | OtherCostOrOtherBasis |
| Depreciation | 5451203 | Depreciation |
| Book Value | 4831581 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 29335972 | TotalOfBookValueLandBuildings |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| OTHER BORROWINGS | $346,115,735 |
| ACCRUED EXPENSES & OTHER LIABI | $1,340,947,227 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 1687062962 | TotalOfAmounts |
| Total Revenue | 96852727 | TotalRevenue |
| Total Expenses | 87667407 | TotalExpenses |
| Excess Or Deficit For Year | 9185320 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -914567 | NetUnrealizedGLOnInvestments |
| Total Adjustments | -914567 | TotalAdjustments |
| Excess Or Deficit Per FS | 8270753 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 96852727 | TotRevenueEtcAuditedFinclStmt |
| Revenue Subtotal | 96852727 | RevenueSubtotal |
| Total Revenue Per Form990 | 96852727 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 87667407 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 87667407 | ExpensesSubtotal |
| Total Expenses Per Form990 | 87667407 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Escrow accounts | Identifier |
| Return Reference | Schedule D page 2 Part IV line 2b | ReturnReference |
| Explanation | As part of the mortgage agreement, an escrow account is maintained for each mortgage where escrow of real estate taxes & home owners insurance is required. The credit union complies with all federal & state laws regarding disclosures and operation of these accounts. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | true | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (13 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JAMES BLAKE | |||||||||||||
| 506491 | 0 | 161587 | 0 | 37661 | 0 | 747397 | 0 | 11701 | 0 | 1464837 | 0 | ||
| JOSEPH CASEY | |||||||||||||
| 287902 | 0 | 67874 | 0 | 5371 | 0 | 166018 | 0 | 11846 | 0 | 539011 | 0 | ||
| WAYNE DUNN | |||||||||||||
| 161911 | 0 | 40907 | 0 | 3420 | 0 | 25900 | 0 | 10982 | 0 | 243120 | 0 | ||
| CHRISTOPHER GIBBONS | |||||||||||||
| 164485 | 0 | 40832 | 0 | 3701 | 0 | 27597 | 0 | 11682 | 0 | 248297 | 0 | ||
| LEO DONAHUE | |||||||||||||
| 163514 | 0 | 40129 | 0 | 5310 | 0 | 26164 | 0 | 1058 | 0 | 236175 | 0 | 0 | 0 |
| MARCIA DMITRUK | |||||||||||||
| 161365 | 0 | 39852 | 0 | 7221 | 0 | 30284 | 0 | 5301 | 0 | 244023 | 0 | ||
| PATRICIA WILLIAMS | |||||||||||||
| 148477 | 0 | 37485 | 0 | 2489 | 0 | 23851 | 0 | 11713 | 0 | 224015 | 0 | ||
| DAVID REILLY | |||||||||||||
| 152572 | 0 | 38077 | 0 | 1726 | 0 | 23388 | 0 | 5099 | 0 | 220862 | 0 | ||
| LEO MACNEIL | |||||||||||||
| 132503 | 0 | 33103 | 0 | 6896 | 0 | 23839 | 0 | 4779 | 0 | 201120 | 0 | ||
| JAMES RICE | |||||||||||||
| 137610 | 0 | 34399 | 0 | 6015 | 0 | 15205 | 0 | 11640 | 0 | 204869 | 0 | ||
| FRIEND WEILER | |||||||||||||
| 166342 | 0 | 33846 | 0 | 4140 | 0 | 10960 | 0 | 1114 | 0 | 216402 | 0 | ||
| ROBERT MULLIGAN | |||||||||||||
| 48090 | 0 | 96213 | 0 | 1146 | 0 | 17097 | 0 | 12733 | 0 | 175279 | 0 | ||
| MAUREEN WILKINSON | |||||||||||||
| 147574 | 0 | 9976 | 0 | 3207 | 0 | 48856 | 0 | 12762 | 0 | 222375 | 0 | ||
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Deferred Compensation | Identifier |
| Return Reference | Schedule J Part I Line 4b | ReturnReference |
| Explanation | James Blake $716,735 Joseph Casey $134,708 Maureen Wilkinson $33,222 | Explanation |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (2 entries)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| James Blake | |||
| Chief Executive officer | 177694 | loan underwriting NEMS | false |
| James Blake | |||
| Chief Executive officer | 3102145 | Computer processing | false |
Form990 Schedule L Part V Form990ScheduleLPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Executive transactions with Credit Union | Identifier |
| Return Reference | Schedule l Part IV | ReturnReference |
| Explanation | James Blake, the Credit Union's chief executive officer is a member of the board of directors with two vendors that conduct business with the credit union. Northeast Member Business Services & COCC. The Credit Union is also an owner of shares in both entities which are not publically traded. Mr. Blake is one of several directors in both corporations and is not in a position to influence the acquisition of services or otherwise personally benefit from the relationship. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (10 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Member Voting Rights | Page 6 Part VI Section A Line 6 | THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. |
| Member Votes | Page 6 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. |
| Member approval of board actions | Page 6 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. |
| Review of 990 return | Page 6 Part VI Section b Line 11 | FORM 990 WILL BE REVIEWED BY THE CONTROLLER, CFO, CEO, AND BOARD OF DIRECTORS PRIOR TO FILING. |
| Conflict of Interest Policy | Page 6 Part VI Section b Line 12c | ALL EMPLOYEES ARE ANNUALLY REQUIRED TO SIGN THE CONFLICT OF INTEREST POLICY. |
| Executive compensation | Page 6 Part VI Section b Line 15 | THE BOARD OF DIRECTORS COMPENSATION COMMITTEE UTILIZES COMPARABLE DATA TO DETERMINE COMPENSATION. |
| Availablity of documents | Page 6 Part VI Section C Line 19 | THE ORGANIZATION GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE UPON REQUEST TO THE GENERAL PUBLIC. |
| Deferred Compensation | Schedule J Part I line 4b | James Blake, Joseph Casey, and Maureen Wilkinson have deferred compensation arrangements with the Credit Union. |
| Other Changes in Net Assets | Form 990 page 12 Part XI Line 5 | Other change in net assets consist of the following adjustment related to general accepted accounting principals ("GAAP") FAS 115 unrealized investment gains $(914,568) |
| Officer and Director Loans | Form 990 Page 4 Part IV Line 26 | Some of the officers and directors have loans outstanding with the Credit Union. These loans were obtained in the ordinary course of business of the Credit Union at terms available to all members. Per instructions for Schedule L these loans are not to be included on Schedule L. |