Form 990, Part VI, Section A, Line 6
“Credit Union are comprised of members. Every account holder is a member”
Scores are not available for this record yet.
Assets
Flat$31,207,586
Flat from 2018
Net Assets
Flat$4,182,718
Flat from 2018
Liabilities
Flat$27,024,868
Flat from 2018
Revenue
Flat$1,114,546
Flat from 2018
Expenses
Flat$901,860
Flat from 2018
Net Income
Flat$212,686
Flat from 2018
Alpha Credit Union is a full service, member owned financial institution whose purpose is to promote thrift and to loan money at fair and reasonable rates of interest. We are not for profit, not charity, but rather for our members' service and benefit.
Credit Union: Provide accounts and loans to members with a current membership of 4760.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $17,864,544 | $18,251,735 | ▲ $387,191 |
| Other Notes and Loans Receivable, Net | $10,071,471 | $11,876,480 | ▲ $1,805,009 |
| Cap Stk Tr Prin Current Funds | $4,000,613 | $4,182,718 | ▲ $182,105 |
| Investments in Publicly Traded Securities | $1,798,883 | $755,082 | ▼ $1,043,801 |
| Cash and Non-Interest-Bearing Accounts | $672,491 | $208,438 | ▼ $464,053 |
| Prepaid Expenses and Deferred Charges | $68,617 | $58,645 | ▼ $9,972 |
| Land, Buildings, and Equipment, Net | $5,526 | $3,495 | ▼ $2,031 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Rtn Earn Endowment Incm Other Fnds | $0 | $0 | → $0 |
| Total Assets | $30,536,704 | $31,207,586 | ▲ $670,882 |
| Other Assets Total | $55,172 | $53,711 | ▼ $1,461 |
| Liabilities | |||
| Other Liabilities | $26,369,778 | $26,938,549 | ▲ $568,771 |
| Accounts Payable and Accrued Expenses | $166,313 | $86,319 | ▼ $79,994 |
| Total Liabilities | $26,536,091 | $27,024,868 | ▲ $488,777 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $4,000,613 | $4,182,718 | ▲ $182,105 |
| Total Liabilities and Net Assets / Fund Balance | $30,536,704 | $31,207,586 | ▲ $670,882 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $0 | $0 | $0 |
| Other Land Buildings | $0 | $0 | $0 |
| Land | $0 | - | $0 |
| Equipment | $3,495 | $30,069 | $0 |
| Leasehold Improvements | $0 | $0 | $0 |
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Joette DeMeo | CEO | FT | $135,210 | $3,618 | $138,828 |
| Name | Title |
|---|---|
| Kristine Hanscom | Board Chair |
| Patricia Hayward Esq | Vice Chair Board |
| Jane Hayward | Board Member |
| Jeannette Blackler | Board Member |
| Laura Schifferdecker | Board Member |
| Peter Macaulay | Board Member |
| Thomas Kelly | Board Member |
| Mary Leupold | Secretary |
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $455,342 |
| Other Expenses | $446,518 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | - | - | - | $455,342 |
| All Other Expenses | - | - | - | $146,016 |
| Information Technology | - | - | - | $96,381 |
| Office Expenses | - | - | - | $91,113 |
| Occupancy | - | - | - | $37,466 |
| Interest | - | - | - | $27,501 |
| Fees for Services Accounting | - | - | - | $22,052 |
| Insurance | - | - | - | $12,703 |
| Advertising | - | - | - | $7,550 |
| Depreciation Depletion | - | - | - | $5,591 |
| Conferences and Meetings | - | - | - | $145 |
| Total Functional Expenses | $0 | $0 | $0 | $901,860 |
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $901,860 |
| Total Expenses per Audited Statements | $901,860 |
| Total Expenses per Form 990 | $901,860 |
| Expenses Not Reported on Financial Statements | $0 |
| Expenses Not Reported on Form 990 | $0 |
| Other Expense Adjustments | $0 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Liability | Amount |
|---|---|
| Members Shares | $26,938,549 |
“Credit Union are comprised of members. Every account holder is a member”
“The membership elects and votes on a governing body.”
“Each member has one vote at the election of the Board of Directors. If a joint account, still only one vote per member number. Governance decisions are reserved for the Board of Directors.”
“The 990 form is reviewed by the Board Chair prior to submission.”
“The Board of Directors are asked to disclose any conflicts of interests on an annual basis.”
“The Board of Directors review the salary of the CEO based on the CEO's performance, it's peers, and industry averages, prior to determining salary. The last review was conducted January 2019.”
“Financial Statements are posted in the lobby of the credit union and the 990, as well as the Conflict of Interest Policy, are available upon request.”
“ATM Debit card fees $97,142 Funding of Loan Loss Reserve $64,168 Misc Operating $15,295”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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|---|---|---|
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| IRS990/ActivityOrMissionDesc | 0 | Credit Union: Provide accounts and loans to members with a current membership of 4760. |
| IRS990/AdvertisingGrp/TotalAmt | 0 | 7550 |
| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 146016 |
| IRS990/AnnualDisclosureCoveredPrsnInd | 0 | 1 |
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| IRS990/BooksInCareOfDetail/PersonNm | 0 | Joette DeMeo |
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| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | Boston |
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| IRS990/MissionDesc | 0 | Alpha Credit Union is a full service, member owned financial institution whose purpose is to promote thrift and to loan money at fair and reasonable rates of interest. We are not for profit, not charity, but rather for our members' service and benefit. |
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| IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt | 0 | 33564 |
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| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 0 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/LossesReportedAmt | 0 | 0 |
| IRS990ScheduleD/NetUnrealizedGainsInvstAmt | 0 | 0 |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 0 |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 0 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 0 |
| IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 26938549 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | Members Shares |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 0 |
| IRS990ScheduleD/OtherRevenuesNotIncludedAmt | 0 | 0 |
| IRS990ScheduleD/PriorYearAdjustmentsAmt | 0 | 0 |
| IRS990ScheduleD/RecoveriesPriorYearGrantsAmt | 0 | 0 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 1114546 |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 3495 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 901860 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 26938549 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 1114546 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 1114546 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 901860 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt | 0 | 17853 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt | 1 | 2252 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt | 2 | 11484 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt | 3 | 6316 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd | 0 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd | 1 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd | 2 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd | 3 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd | 0 | 0 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd | 1 | 0 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd | 2 | 0 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd | 3 | 0 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd | 0 | X |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd | 1 | X |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd | 2 | X |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd | 3 | X |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt | 0 | Automobile |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt | 1 | Mass Save HEAT |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt | 2 | Automobile |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt | 3 | Unsecured |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt | 0 | 20944 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt | 1 | 5854 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt | 2 | 23782 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt | 3 | 10000 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm | 0 | Thomas Kelly |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm | 1 | Kristine Hanscom |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm | 2 | Joette DeMeo |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm | 3 | Joette DeMeo |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt | 0 | Board Treasurer |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt | 1 | Board Chair |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt | 2 | CEO |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt | 3 | CEO |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd | 0 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd | 1 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd | 2 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd | 3 | 1 |
| IRS990ScheduleL/TotalBalanceDueAmt | 0 | 37905 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Credit Union are comprised of members. Every account holder is a member |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | The membership elects and votes on a governing body. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Each member has one vote at the election of the Board of Directors. If a joint account, still only one vote per member number. Governance decisions are reserved for the Board of Directors. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | The 990 form is reviewed by the Board Chair prior to submission. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | The Board of Directors are asked to disclose any conflicts of interests on an annual basis. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | The Board of Directors review the salary of the CEO based on the CEO's performance, it's peers, and industry averages, prior to determining salary. The last review was conducted January 2019. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | Financial Statements are posted in the lobby of the credit union and the 990, as well as the Conflict of Interest Policy, are available upon request. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | ATM Debit card fees $97,142 Funding of Loan Loss Reserve $64,168 Misc Operating $15,295 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Section A, Line 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Section A, Line 7a |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Section A, Line 7b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Section B, Line 11b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part VI, Section B, Line 12c |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Form 990, Part VI, Section B, Line 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | Form 990, Part VI, Section C, Line 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | Form 990, Part IX, Line 24e |
| IRS990/SchoolOperatingInd | 0 | 0 |
| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | MA |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | 0 |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
| IRS990/TempOrPermanentEndowmentsInd | 0 | 0 |
| IRS990/TerminateOperationsInd | 0 | 0 |
| IRS990/TotalAssetsBOYAmt | 0 | 30536704 |
| IRS990/TotalAssetsEOYAmt | 0 | 31207586 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 30536704 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 31207586 |
| IRS990/TotalCompGreaterThan150KInd | 0 | 0 |
| IRS990/TotalContributionsAmt | 0 | 0 |
| IRS990/TotalEmployeeCnt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 901860 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 26536091 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 27024868 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 26536091 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 27024868 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 4000613 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 4182718 |
| IRS990/TotalOtherCompensationAmt | 0 | 3618 |
| IRS990/TotalOtherProgSrvcExpenseAmt | 0 | 0 |
| IRS990/TotalOtherProgSrvcGrantAmt | 0 | 0 |
| IRS990/TotalOtherProgSrvcRevenueAmt | 0 | 0 |
| IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt | 0 | 0 |
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Displayed year
2018 • Form 990Detailed filing. Detailed filing data is available for this year.