St Annes Credit Union Of Fall River Mass
- Assets
- $1.3b
- Revenue
- $34.9m
- Investments
- $0.0
- Employees
- 321
- Location
- Fall River, MA
- Founding
- 06/1944
- Data as of
- 12/2021
- EIN
- 04-2128094
Organization Overview
St Annes Credit Union Of Fall River Mass is located in Fall River, MA. The organization was established in 1944. 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, St Annes Credit Union Of Fall River Mass employed 321 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Annes Credit Union Of Fall River Mass 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, St Annes Credit Union Of Fall River Mass generated $34.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $30.8m during the year ending 12/2021. While expenses have increased by 2.9% 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 2018, St Annes Credit Union Of Fall River Mass has awarded 35 individual grants totaling $332,239. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ST. ANNE'S CREDIT UNION (THE "CREDIT UNION") PROVIDES A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS THROUGH ITS FULL SERVICE OFFICES AND LOAN CENTERS IN SOUTHEASTERN MASSACHUSETTS. ITS PRIMARY DEPOSIT PRODUCTS ARE SAVINGS, CHECKING, MONEY MARKET, AND TERM CERTIFICATE ACCOUNTS AND ITS PRIMARY LENDING ASSETS ARE RESIDENTIAL MORTGAGE, COMMERCIAL MORTGAGE AND CONSUMER LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ST. ANNE'S CREDIT UNION IS A COOPERATIVE OWNED, DIRECTED BY, AND DEDICATED TO ITS MEMBERS. AT THE END OF 2021, THE CREDIT UNION HAD $1.096 BILLION SHARE ACCOUNT DEPOSITS, $725 MILLION IN LOANS TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eileen Danahey President/ceo | Officer | 40 | $496,611 |
Peter Panaggio Evp/cfo | Officer | 40 | $242,917 |
Carlos Dacunha Svp/clo (term Ended 9/20/21) | Officer | 40 | $227,201 |
Deborah Dion VP Information Services | 40 | $201,972 | |
Rose Cortes Mortgage Loan Officer | 40 | $189,544 | |
Luisa Rochester VP Residential Lending | 40 | $162,407 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Technology Solutions | 12/30/21 | $2,388,967 |
New England Money Handling Systems Cash Machine Servicing | 12/30/21 | $318,344 |
Collins Construction Co Inc Construction & Remodeling | 12/30/21 | $576,930 |
Eascorp Technology Solutions | 12/30/21 | $284,124 |
Adt Commercial Business Equipment & Maintenance | 12/30/21 | $360,052 |
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 | $24,437,225 |
| Investment income | $3,319,016 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,701,433 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,865,858 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $131,458 |
| Grants and other assistance to domestic individuals. | $24,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,029,524 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,545,236 |
| Pension plan accruals and contributions | $630,992 |
| Other employee benefits | $1,698,142 |
| Payroll taxes | $739,272 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $311,540 |
| Fees for services: Accounting | $152,061 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $628,832 |
| Advertising and promotion | $1,082,044 |
| Office expenses | $1,189,193 |
| Information technology | $2,327,722 |
| Royalties | $0 |
| Occupancy | $1,678,992 |
| Travel | $26,871 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $80,335 |
| Interest | $6,585,007 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,846,333 |
| Insurance | $522,954 |
| All other expenses | $306,839 |
| Total functional expenses | $30,849,982 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,407,668 |
| Savings and temporary cash investments | $191,024,386 |
| 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 | $725,481,491 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $959,177 |
| Net Land, buildings, and equipment | $17,705,126 |
| Investments—publicly traded securities | $300,821,344 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,362,939 |
| Total assets | $1,266,762,131 |
| Accounts payable and accrued expenses | $880,412 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,982,226 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,154,449,896 |
| Total liabilities | $1,157,312,534 |
| 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 | $109,449,597 |
| Total liabilities and net assets/fund balances | $1,266,762,131 |
Grants Awarded
Over the last fiscal year, St Annes Credit Union Of Fall River Mass has awarded $68,468 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Fall River, MA PURPOSE: CHARITABLE CONTRIBUTIONS | $13,100 |
New Bedford, MA PURPOSE: CHARITABLE CONTRIBUTIONS | $12,607 |
New Bedford, MA PURPOSE: CHARITABLE CONTRIBUTIONS | $11,000 |
Fall River, MA PURPOSE: CHARITABLE CONTRIBUTIONS | $8,333 |
New Bedford, MA PURPOSE: CHARITABLE CONTRIBUTIONS | $8,333 |
Cranston, RI PURPOSE: CHARITABLE CONTRIBUTIONS | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Municipal Credit Union New York, NY | $4,195,909,598 | $220,924,766 |
Navigant Credit Union Smithfield, RI | $3,081,655,511 | $116,968,150 |
Metro Credit Union Chelsea, MA | $2,510,941,078 | $92,937,477 |
American Eagle Financial Credit Union Incorporated East Hartford, CT | $2,355,398,570 | $80,581,273 |
Northeast Credit Union Portsmouth, NH | $1,982,489,459 | $75,179,197 |
Coastal1 Credit Union Pawtucket, RI | $2,840,412,596 | $91,925,616 |
Sunmark Credit Union Latham, NY | $1,009,786,367 | $61,777,524 |
Jeanne Darc Credit Union Lowell, MA | $1,792,528,408 | $59,293,841 |
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 |