Polish National Credit Union

Organization Overview

Polish National Credit Union is located in Chicopee, MA. The organization was established in 1935. 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, Polish National Credit Union employed 152 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Polish National 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, Polish National Credit Union generated $26.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $21.1m during the year ending 12/2021. While expenses have increased by 7.9% 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.

Since 2019, Polish National Credit Union has awarded 16 individual grants totaling $170,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

AS A MEMBER-OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE, POLISH NATIONAL CREDIT UNION IS COMMITTED TO OUR MEMBERS. WE WILL UPHOLD OUR FUNDAMENTAL RESPONSIBILITY TO ACTIVELY SERVE PEOPLE WITHIN OUR FIELD OF MEMBERSHIP, AND AS APPROPRIATE, THE COMMUNITIES THEY LIVE IN. WE WILL TREAT ALL MEMBERS WITH RESPECT AND DIGNITY AND WE WILL OFFER HONEST, FAIR DEALS TO ALL MEMBERS. WE WILL DELIVER A RANGE OF LOW-COST PRODUCTS AND SERVICES TO THE DIVERSE ECONOMIC AND SOCIAL MAKE-UP OF OUR MEMBERS AND POTENTIAL MEMBERS. WE WILL LOOK FOR BETTER WAYS TO REACH THE UNDER-SERVED IN OUR FIELD OF MEMBERSHIP AND WE WILL CONTINUALLY, IN ALL FACETS OF OPERATION, DEMONSTRATE THE VALUE OF MEMBERSHIP IN OUR CREDIT UNION.WE WILL MONITOR AND COMMUNICATE OUR SERVICE IN A MEANINGFUL WAY SO THAT MEMBERS, POTENTIAL MEMBERS, LEGISLATORS, REGULATORS AND THE COMMUNITY AT LARGE WILL UNDERSTAND AND APPRECIATE THE UNIQUE ROLE THAT MEMBER-OWNED FINANCIAL COOPERATIVES PLAY IN THEIR LIVES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION MAINTAINED 44,950 DEPOSIT ACCOUNTS APPROXIMATING $567,000,000 AS OF DECEMBER 31, 2021. DIVIDENDS AND INTEREST ON MEMBER DEPOSITS APPROXIMATED $3,056,000 FOR THE YEAR ENDED DECEMBER 31, 2021. AS OF DECEMBER 31, 2021, THE CREDIT UNION HAD 6,900 LOANS OUTSTANDING TOTALING APPROXIMATELY $594,000,000. ADDITIONALLY, APPROXIMATELY 613 SAFE DEPOSIT BOXES WERE USED BY MEMBERS DURING 2021.


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Board, Officers & Key Employees

Name (title)Compensation
James P Kelly
President & CEO
$477,715
Kathi Donahue
SVP Commercial Lending
$237,612
Michael Sugrue
Evp
$230,746
Charlotte Hansen
Cfo/svp
$187,058
Kirk Burnham
SVP Operations
$165,350
Maribel Torres-Rodrigues
Avp, Loan Origination
$164,454

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Connecticut Online Computer Center
Core System Provider
$868,898
Convergint Technologies Llc
Equipment Sale And Service
$345,163
Solidus Inc
Design And Build Services
$164,626
Nutter Mcclennen & Fish Llp
Legal Services
$109,174
Cpi Card Group
Debit/credit Card Stock
$117,804
View All Vendors

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$24,437,725
Investment income $507,571
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $26,906,300

Grants Awarded

Over the last fiscal year, Polish National Credit Union has awarded $38,500 in support to 3 organizations.

Grant RecipientAmount

THE FOOD BANK OF WESTERN MASSACHUSETTS

Org PageRecipient Profile

Hatfield, MA

PURPOSE: CHARITABLE CONTRIBUTIONS

$25,000

POLISH CENTER OF DISCOVERY & LEARNING

Org PageRecipient Profile

Chicopee, MA

PURPOSE: CHARITABLE CONTRIBUTIONS

$7,500

CITY OF CHICOPEE

PURPOSE: CHARITABLE CONTRIBUTIONS

$6,000
View Grant Profile

Peer Organizations

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