Bellwether Community Credit Union
- Assets
- $557.7m
- Revenue
- $22.0m
- Investments
- $0.0
- Employees
- 119
- Location
- Manchester, NH
- Founding
- 05/1980
- Data as of
- 12/2021
- EIN
- 02-0196520
Organization Overview
Bellwether Community Credit Union is located in Manchester, NH. The organization was established in 1980. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Bellwether Community Credit Union employed 119 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Bellwether Community Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, Bellwether Community Credit Union generated $22.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $17.4m during the year ending 12/2021. While expenses have increased by 1.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATE A STATE CHARTERED CREDIT UNION FOR THE BENEFIT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES RELATE TO DAILY OPERATIONS OF A LOCALLY CONTROLLED, FULL SERVICE CREDIT UNION. WE MAKE LOANS, ACCEPT DEPOSIT ACCOUNTS, AND CONTINUALLY AND EFFICIENTLY PROVIDE OTHER RELEVANT FINANCIAL SERVICES TO A MEMBER BASE OF APPROXIMATELY 29,000 INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan D Saller President & CEO | Officer | 50 | $479,340 |
Jonathan Oglebay Svp/cfo | Officer | 45 | $218,113 |
William Zafirson Svp/clo | 50 | $210,452 | |
Nancy D Nadeau Svp/cao | Officer | 50 | $200,566 |
Jeffrey R Benson Svp/coo | Officer | 50 | $199,485 |
J Michael Perrella Vp/business Services | 45 | $163,975 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pscu Credit Card Vendor | 12/30/21 | $771,387 |
Q2 Software Inc Online Banking | 12/30/21 | $518,561 |
Financial Statement Services Statement Printing/mailing | 12/30/21 | $183,485 |
Corelation Keystone Software | 12/30/21 | $267,101 |
Information Management Solutions Inc Backup/disaster Recovery | 12/30/21 | $160,980 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $19,462,675 |
| Investment income | $2,291,184 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $201,321 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,955,180 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,696,624 |
| Compensation of current officers, directors, key employees. | $1,370,134 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,072,309 |
| Pension plan accruals and contributions | $529,648 |
| Other employee benefits | $986,768 |
| Payroll taxes | $423,369 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38,000 |
| Fees for services: Accounting | $168,801 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $255,246 |
| Advertising and promotion | $489,565 |
| Office expenses | $55,427 |
| Information technology | $1,390,652 |
| Royalties | $0 |
| Occupancy | $656,321 |
| Travel | $20,452 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,181 |
| Interest | $704,557 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $867,705 |
| Insurance | $89,187 |
| All other expenses | $0 |
| Total functional expenses | $17,373,961 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,849,385 |
| Savings and temporary cash investments | $35,363,335 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $376,447,383 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $10,288,651 |
| Investments—publicly traded securities | $107,875,661 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,866,479 |
| Total assets | $557,690,894 |
| Accounts payable and accrued expenses | $4,290,430 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $44,574,687 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $451,672,079 |
| Total liabilities | $500,537,196 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $57,153,698 |
| Total liabilities and net assets/fund balances | $557,690,894 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vermont State Employees Credit Union Montpelier, VT | $1,088,463,473 | $48,370,084 |
Harvard University Employees Credit Union Cambridge, MA | $1,037,994,144 | $42,695,601 |
Sharon & Cresent United Credit Union Sharon, MA | $1,214,608,643 | $40,886,511 |
St Annes Credit Union Of Fall River Mass Fall River, MA | $1,266,762,131 | $34,865,858 |
Granite State Credit Union Manchester, NH | $634,204,646 | $34,223,432 |
Leominster Credit Union Leominster, MA | $813,719,349 | $30,410,755 |
St Marys Credit Union Inc Marlborough, MA | $985,400,554 | $32,310,700 |
Triangle Credit Union Nashua, NH | $877,280,050 | $30,352,425 |
Align Credit Union Lowell, MA | $748,085,438 | $24,193,748 |
Liberty Bay Credit Union Braintree, MA | $714,665,238 | $24,208,397 |
Freedom Credit Union Springfield, MA | $649,826,140 | $26,093,008 |
Polish National Credit Union Chicopee, MA | $705,019,055 | $26,906,300 |