Homefield Credit Union

Organization Overview

Homefield Credit Union is located in North Grafton, MA. The organization was established in 0000. 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, Homefield Credit Union employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homefield 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, Homefield Credit Union generated $6.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $5.6m during the year ending 12/2021. While expenses have increased by 1.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THIS ORGANIZATION IS A COMMUNITY BASED CREDIT UNION ESTABLISHED TO SERVE ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE FINANCING FOR HOME AND BUSINESS LOANS, BOTH PURCHASE AND REFINANCE TRANSACTIONS. AS OF 12/31/21 THERE WERE 738 OF THESE LOANS ON THE BALANCE SHEET OF THE CREDIT UNION.


TO PROVIDE DEPOSIT PRODUCTS FOR DAILY FINANCIAL NEEDS AS WELL AS INVESTMENT ALTERNATIVES. PRODUCTS INCLUDE CHECKING AND SAVING ACCOUNTS, CERTIFICATES OF DEPOSIT, IRA AND MONEY MARKET ACCOUNTS. MEMBERS HAVE A TOTAL OF 11,175 DEPOSIT ACCOUNTS WITH THE CREDIT UNION AS OF 12/31/21.


TO PROVIDE CONSUMER LOANS BOTH UNSECURED AND SECURED BY AUTOMOBILES, RV'S, ETC. AS OF 12/31/21 THERE WERE 7,824 OF THESE LOANS ON THE BALANCE SHEET OF THE CREDIT UNION.


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Board, Officers & Key Employees

Name (title)Compensation
Karl Moisan
President & CEO
$227,053
Julie Delong Tripp
COO
$197,952
Jennifer Marble
Chief Lending Officer
$154,919
Peter Crepeault
Vice Chairman
$0
Andrew Nelson
Chairman
$0
Brooke Melia
Clerk
$0

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$6,026,082
Investment income $319,178
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 $6,345,260

Peer Organizations

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