St Annes Credit Union Of Fall River Mass
- Assets
- $1.2b
- Revenue
- $36.1m
- Investments
- $0.0
- Employees
- 368
- Location
- Fall River, MA
- Founding
- 06/1944
- Data as of
- 12/2022
- 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 12/2022, St Annes Credit Union Of Fall River Mass employed 368 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 12/2022, St Annes Credit Union Of Fall River Mass generated $36.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $29.6m during the year ending 12/2022. While expenses have increased by 2.0% per year over the past 8 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 41 individual grants totaling $389,404. 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
2022
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 2022, THE CREDIT UNION HAD $993 MILLION SHARE ACCOUNT DEPOSITS, $759 MILLION IN LOANS TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce E Fernandes Director/treasurer/clerk | OfficerTrustee | 1 | $6,330 |
William R Bouchard Chairman Of The Board | OfficerTrustee | 1 | $24,336 |
Kevin Vieira Director | Trustee | 1 | $60 |
Claire Entel Director | Trustee | 1 | $396 |
Colleen Brady Director | Trustee | 1 | $258 |
John R Ledwidge Director/vice Chairman | OfficerTrustee | 1 | $21,619 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Technology Solutions | 12/30/22 | $2,781,942 |
Page Building Construction Co Inc Construction & Remodeling | 12/30/22 | $2,679,988 |
Adt Commercial Business Equipment & Maintenance | 12/30/22 | $356,434 |
Dart Appraisal Property Appraisals | 12/30/22 | $327,344 |
New England Money Handling Systems Cash Machine Servicing | 12/30/22 | $173,370 |
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 | $25,611,830 |
| Investment income | $5,784,955 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,129 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,103,812 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $122,165 |
| 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. | $1,062,764 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,767,006 |
| Pension plan accruals and contributions | $688,201 |
| Other employee benefits | $1,822,504 |
| Payroll taxes | $708,995 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $355,295 |
| Fees for services: Accounting | $201,032 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $587,809 |
| Advertising and promotion | $1,119,117 |
| Office expenses | $1,430,209 |
| Information technology | $2,559,658 |
| Royalties | $0 |
| Occupancy | $1,817,143 |
| Travel | $31,602 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $106,793 |
| Interest | $4,059,300 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,769,154 |
| Insurance | $337,001 |
| All other expenses | $467,123 |
| Total functional expenses | $29,599,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,125,099 |
| Savings and temporary cash investments | $45,775,694 |
| 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 | $758,674,198 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $834,810 |
| Net Land, buildings, and equipment | $19,930,053 |
| Investments—publicly traded securities | $298,615,320 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,759,836 |
| Total assets | $1,151,715,010 |
| Accounts payable and accrued expenses | $1,649,543 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,018,866 |
| 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 | $1,041,520,510 |
| Total liabilities | $1,045,188,919 |
| 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 | $106,526,091 |
| Total liabilities and net assets/fund balances | $1,151,715,010 |
Grants Awarded
Over the last fiscal year, St Annes Credit Union Of Fall River Mass has awarded $57,165 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
SSTAR FAMILY HEALTH CENTER PURPOSE: CHARITABLE CONTRIBUTIONS | $10,000 |
COOPERATIVE CREDIT UNION ASSOCIATION PURPOSE: CHARITABLE CONTRIBUTIONS | $8,095 |
NARRAGANSETT COUNCIL PURPOSE: CHARITABLE CONTRIBUTIONS | $9,000 |
UNITED WAY OF GREATER FALL RIVER INC PURPOSE: CHARITABLE CONTRIBUTIONS | $12,570 |
UNITED WAY OF GREATER NEW BEDFORD INC PURPOSE: CHARITABLE CONTRIBUTIONS | $11,500 |
STEPPINGSTONE INC PURPOSE: CHARITABLE CONTRIBUTIONS | $6,000 |