Civic Intelligence

Mutual Security Credit Union Inc

990 • Fiscal year 2016 • EIN 06-0701899

Jan 01, 2016 to Dec 31, 2016 • Filed on Dec 19, 2017

Organization ProfileMSCU.NET

View Organization Page

12 Progress DriveShelton, CT 06484

(203) 402-7400

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

96th percentile

0.92x

Higher debt load relative to assets than 96% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Liabilities / Revenue

58th percentile

19.11x

Higher debt load relative to revenue than 58% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Net Margin

10th percentile

3.2%

Higher net margin than 10% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Top Officer Pay

10th percentile

$223,362

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Asset Growth

46th percentile

5.5%

Faster asset growth than 46% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Revenue Growth

8th percentile

-0.4%

Faster revenue growth than 8% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$270,079,655

Up $14,172,707 (+5.5%) from 2015

Net Assets

Up

$20,868,730

Up $418,502 (+2.0%) from 2015

Liabilities

Up

$249,210,925

Up $13,754,205 (+5.8%) from 2015

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin10th percentile

Revenue

Down

$13,037,692

Down $51,650 (-0.4%) from 2015

Expenses

Up

$12,619,190

Up $799,949 (+6.8%) from 2015

Net Income

Down

$418,502

Down $851,599 (-67%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400M$300M$200M$100M$0Assets 2010: $238,775,951Liabilities 2010: $221,453,641Net Assets 2010: $17,322,3102010Assets 2011: $234,687,836Liabilities 2011: $216,719,838Net Assets 2011: $17,967,9982011Assets 2012: $247,149,937Liabilities 2012: $228,682,915Net Assets 2012: $18,467,0222012Assets 2013: $239,439,126Liabilities 2013: $220,675,845Net Assets 2013: $18,763,2812013Assets 2014: $249,491,746Liabilities 2014: $230,311,619Net Assets 2014: $19,180,1272014Assets 2015: $255,906,948Liabilities 2015: $235,456,720Net Assets 2015: $20,450,2282015Assets 2016: $270,079,655Liabilities 2016: $249,210,925Net Assets 2016: $20,868,7302016Assets 2017: $280,684,890Liabilities 2017: $259,565,709Net Assets 2017: $21,119,1812017Assets 2018: $309,950,951Liabilities 2018: $287,430,478Net Assets 2018: $22,520,4732018Assets 2019: $319,353,478Liabilities 2019: $295,603,843Net Assets 2019: $23,749,6352019Assets 2020: $335,855,430Liabilities 2020: $310,955,926Net Assets 2020: $24,899,5042020Assets 2021: $354,262,560Liabilities 2021: $327,206,899Net Assets 2021: $27,055,6612021Assets 2022: $390,854,151Liabilities 2022: $363,939,211Net Assets 2022: $26,914,9402022Assets 2023: $357,474,048Liabilities 2023: $327,237,727Net Assets 2023: $30,236,3212023Assets 2024: $354,958,379Liabilities 2024: $323,462,691Net Assets 2024: $31,495,6882024

Highlighted filing

2016

Assets$270,079,655
Liabilities$249,210,925
Net Assets$20,868,730
Open 2016 Filing

Operations Trend

Revenue Growth8th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0Expenses 2010: $13,770,0442010Expenses 2011: $12,248,5522011Expenses 2012: $11,930,0752012Revenue 2013: $11,968,755Expenses 2013: $11,672,494Net Income 2013: $296,2612013Revenue 2014: $12,035,310Expenses 2014: $11,618,464Net Income 2014: $416,8462014Revenue 2015: $13,089,342Expenses 2015: $11,819,241Net Income 2015: $1,270,1012015Revenue 2016: $13,037,692Expenses 2016: $12,619,190Net Income 2016: $418,5022016Revenue 2017: $13,484,180Expenses 2017: $13,233,729Net Income 2017: $250,4512017Revenue 2018: $14,873,778Expenses 2018: $13,472,486Net Income 2018: $1,401,2922018Revenue 2019: $15,788,404Expenses 2019: $14,559,242Net Income 2019: $1,229,1622019Revenue 2020: $15,192,487Expenses 2020: $13,995,742Net Income 2020: $1,196,7452020Revenue 2021: $14,669,690Expenses 2021: $12,433,167Net Income 2021: $2,236,5232021Revenue 2022: $15,885,151Expenses 2022: $13,489,120Net Income 2022: $2,396,0312022Revenue 2023: $17,991,355Expenses 2023: $16,626,896Net Income 2023: $1,364,4592023Revenue 2024: $20,187,778Expenses 2024: $18,920,512Net Income 2024: $1,267,2662024

Highlighted filing

2016

Revenue$13,037,692
Expenses$12,619,190
Net Income$418,502
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Dec 19, 2017
Return Version
2016v3.0
Gross Receipts
$13,335,154
Mission and Program Overview

Mission

The mission of mutual security credit union (mscu) is to promote the economic well being of its members by providing a broad range of innovative financial products. These programs will be administered in a personalized environment by a professional staff and dedicated volunteers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$225,096,212$241,944,197▲ $16,847,985
Rtn Earn Endowment Incm Other Fnds$20,450,228$20,868,730▲ $418,502
Cash and Non-Interest-Bearing Accounts$14,602,241$11,033,226▼ $3,569,015
Savings and Temporary Cash Investments$5,427,000$4,173,000▼ $1,254,000
Land, Buildings, and Equipment, Net$3,403,757$2,978,666▼ $425,091
Investments Other Securities$1,446,137$666,221▼ $779,916
Prepaid Expenses and Deferred Charges$518,877$504,601▼ $14,276
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$255,906,948$270,079,655▲ $14,172,707
Other Assets Total$5,412,724$8,779,744▲ $3,367,020
Liabilities
Other Liabilities$233,827,740$247,382,490▲ $13,554,750
Escrow Account Liability$1,376,741$1,475,703▲ $98,962
Accounts Payable and Accrued Expenses$252,239$352,732▲ $100,493
Total Liabilities$235,456,720$249,210,925▲ $13,754,205
Net Assets / Fund Balance
Total Net Assets Fund Balance$20,450,228$20,868,730▲ $418,502
Total Liabilities and Net Assets / Fund Balance$255,906,948$270,079,655▲ $14,172,707

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,694,548$3,192,856$4,887,404
Leasehold Improvements$152,461$869,617$1,022,078
Buildings$600,918$414,803$1,015,721
Land$530,739-$530,739
Compensation and Service Providers
Top Officer Pay10th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Larry F HoldermanCEOFT$168,928$54,434$223,362
Henry BaumEvpFT$153,953$18,812$172,765
Stephen J OsowieckiCFOFT$140,657$23,627$164,284
John DebisceglieVP LoansFT$109,027$30,115$139,142
Ann NankervisDirector, HrFT$104,992$15,261$120,253

Board Members and Trustees

NameTitle
Bruce M LikelyChair
Robert MaragesVice Chair
Robert J BastaDirector
Robert LubusSecretary
Linda SmitasTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Jack Henry & Assoc INCCore Computer System & MaintPO BOX 609, Monett, MO 65708$335,492
FrontierCommunications ProviderPO BOX 20550, Rochester, NY 14602$170,323
ValuamericaAppraisal & Mortgage Services113 TECHNOLOGY DRIVE, Pittsburgh, PA 15275$162,578
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,901,171
Investment Income
$136,521
Other Revenue
$0
Change in Net Assets
$418,502
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,372,192
Salaries, Compensation, and Employee Benefits$5,312,013
Grants and Similar Amounts Paid$6,250
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$3,572,728
Office Expenses---$1,353,894
Benefits to Members---$928,735
Occupancy---$725,307
Information Technology---$669,255
Other Employee Benefits---$661,787
Current Officers, Directors, Trustees, and Key Employees---$560,411
Depreciation Depletion---$502,950
Payroll Taxes---$349,362
Advertising---$232,410
Pension Plan Contributions---$167,725
Fees for Services Management---$107,757
Conferences and Meetings---$105,296
Insurance---$78,436
Fees for Services Accounting---$67,964
Travel---$19,685
Other Expenses---$12,960
Fees for Services Legal---$9,839
Grants to Domestic Individuals---$6,250
All Other Expenses---$6,144
Interest---$2,587
Total Functional Expenses$0$0$0$12,619,190
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Son of CEOGross EarningsNo$28,085
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Shares on Deposit$243,933,062
Other Liabilities and Loans$3,449,428
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The credit union's members have rights to elect the members of the governing body. The credit union's members also receive a share of the organization's profits in the form of cash dividends.”

Form 990, Part VI, Section A, Line 7A

“Members of the credit union have the right to elect one or more members of the organization's governing body, whether periodically, or as vacancies arise, or otherwise.”

Form 990, Part VI, Section A, Line 7B

“Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as they occur.”

Form 990, Part VI, Section B, Line 11B

“The chairman, and vice-chairman or treasurer of the board of directors will review form 990 prior to its filing.”

Form 990, Part VI, Section B, Line 12C

“The credit union policy has guidelines for various transactions to ensure that our business activities are performed in compliance with the sate of ct statutes. Segregation of duties is managed to ensure that system transactions are in compliance with the policy. Outside of our core system, other authorizations to perform high level functions are assigned under dual approval within policy limits. Board approval is received when necessary for those transactions as stated in the policy.”

Form 990, Part VI, Section B, Line 15

“Salary and job description data is obtained from a consultant, hr value group, whose data includes salary ranges from the cuna salary survey, cues survey, and the economic research institute. Ceo salary is approved by the board of directors.”

Form 990, Part VI, Section C, Line 19

“Financial statements, conflict of interest policy and governing documents are available upon request for the same period of disclosure as set forth in section 6104(d).”

Filing and Contact Details

Filer

Filer Name
Mutual Security Credit Union
EIN
06-0701899
Phone
2034027400
Address
12 PROGRESS DRIVE, SHELTON, CT 06484

Signing Officer

Name
Stephen Osowiecki
Title
CFO
Phone
2034027409
Signed
2017-12-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Larry Holderman
Formed
2001
Legal Domicile
Ct
Voting Board Members
5
Independent Board Members
5
Employees
89
Volunteers
7

Preparer

Firm
Rsm US Llp
Address
801 NICOLLET MALL SUITE 1100, MINNEAPOLIS, MN 55402
Preparer
Gerald B Kissell
Phone
6123324300
Supplemental Narrative

Financial Statement Notes

PART IV, LINE 2B:

“Mscu has escrow accounts for members with first mortgage loans. Their funds accumulate monthly and when due, mscu pays their town/city property taxes and insurance on their behalf.”

Raw XML AppendixShowing 400 of 488 raw XML fields

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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IRS990/IndivRcvdGreaterThan100KCnt05
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0669255
IRS990/InsuranceGrp/TotalAmt078436
IRS990/InterestGrp/TotalAmt02587
IRS990/InvestmentIncomeGrp/ExclusionAmt0164176
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0164176
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt01446137
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0666221
IRS990/IRPDocumentCnt05564
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt04477276
IRS990/LandBldgEquipBasisNetGrp/BOYAmt03403757
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02978666
IRS990/LandBldgEquipCostOrOtherBssAmt07455942
IRS990/LegalDomicileStateCd0CT
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0297462
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd01
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE MISSION OF MSCU IS TO PROMOTE THE ECONOMIC WELL BEING OF ITS MEMBERS BY PROVIDING A BROAD RANGE OF INNOVATIVE FINANCIAL PRODUCTS. THESE PROGRAMS WILL BE ADMINISTERED IN A PERSONALIZED ENVIRONMENT BY A PROFESSIONAL STAFF AND DEDICATED VOLUNTEERS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt020450228
IRS990/NetAssetsOrFundBalancesEOYAmt020868730
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-27655
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-27655
IRS990/NetUnrelatedBusTxblIncmAmt0-300041
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0725307
IRS990/OfficeExpensesGrp/TotalAmt01353894
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt05412724
IRS990/OtherAssetsTotalGrp/EOYAmt08779744
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0661787
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1LOAN SERVICING
IRS990/OtherExpensesGrp/Desc2DUES
IRS990/OtherExpensesGrp/Desc3EXAM FEES
IRS990/OtherExpensesGrp/TotalAmt01264934
IRS990/OtherExpensesGrp/TotalAmt11177465
IRS990/OtherExpensesGrp/TotalAmt235309
IRS990/OtherExpensesGrp/TotalAmt312960
IRS990/OtherLiabilitiesGrp/BOYAmt0233827740
IRS990/OtherLiabilitiesGrp/EOYAmt0247382490
IRS990/OtherSalariesAndWagesGrp/TotalAmt03572728
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0225096212
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0241944197
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0349362
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt0167725
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0518877
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0504601
IRS990/PrincipalOfficerNm0LARRY HOLDERMAN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/BusinessCd3522100
IRS990/ProgramServiceRevenueGrp/BusinessCd4522100
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST INCOME
IRS990/ProgramServiceRevenueGrp/Desc1FEES AND CHARGES
IRS990/ProgramServiceRevenueGrp/Desc2VISA FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc3MISC. OPERATING INCOME
IRS990/ProgramServiceRevenueGrp/Desc4MORTGAGE FEE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt09961840
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11779385
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2830955
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt390350
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt481735
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt09961840
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11828632
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2830955
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3198009
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt481735
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt049247
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt1107659
IRS990/ProgSrvcAccomActy2Grp/Desc0MSCU OFFERS MEMBERS OUR VISA CREDIT CARDS AND VISA CHECK CARD (DEBIT CARD). NEW VISA ACCOUNTS ISSUED IN 2016 = 298.
IRS990/ProgSrvcAccomActy3Grp/Desc0MSCU OFFERS MEMBERS OUR VARIOUS CHECKING ACCOUNT PROGRAMS. NEW CHECKING ACCOUNTS OPENED IN 2016 = 835.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt0855705
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt06300
IRS990/PYInvestmentIncomeAmt0759027
IRS990/PYOtherExpensesAmt05764043
IRS990/PYOtherRevenueAmt0201177
IRS990/PYProgramServiceRevenueAmt012129138
IRS990/PYRevenuesLessExpensesAmt01270101
IRS990/PYSalariesCompEmpBnftPaidAmt05193193
IRS990/PYTotalExpensesAmt011819241
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt013089342
IRS990/ReconcilationRevenueExpnssAmt0418502
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt020450228
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt020868730
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05427000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04173000
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0600918
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0414803
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01015721
IRS990ScheduleD/EquipmentGrp/BookValueAmt01694548
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03192856
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04887404
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt0530739
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0530739
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0152461
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0869617
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01022078
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0243933062
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13449428
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SHARES ON DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OTHER LIABILITIES AND LOANS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MSCU HAS ESCROW ACCOUNTS FOR MEMBERS WITH FIRST MORTGAGE LOANS. THEIR FUNDS ACCUMULATE MONTHLY AND WHEN DUE, MSCU PAYS THEIR TOWN/CITY PROPERTY TAXES AND INSURANCE ON THEIR BEHALF.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02978666
IRS990ScheduleD/TotalLiabilityAmt0247382490
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt06250
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS FOR COLLEGE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt011
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0CHECKS ARE MADE PAYABLE TO THE STUDENT AND COLLEGE THEY ARE ATTENDING.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0168928
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1140657
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2153953
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt029697
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt23753
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt024737
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt123627
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt215059
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LARRY F HOLDERMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1STEPHEN J OSOWIECKI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2HENRY BAUM
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2EVP
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0223362
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1164284
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt2172765
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt20
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0MATTHEW R HOLDERMAN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0SON OF CEO
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt028085
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0GROSS EARNINGS
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CHAIRMAN, AND VICE-CHAIRMAN OR TREASURER OF THE BOARD OF DIRECTORS WILL REVIEW FORM 990 PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CREDIT UNION POLICY HAS GUIDELINES FOR VARIOUS TRANSACTIONS TO ENSURE THAT OUR BUSINESS ACTIVITIES ARE PERFORMED IN COMPLIANCE WITH THE SATE OF CT STATUTES. SEGREGATION OF DUTIES IS MANAGED TO ENSURE THAT SYSTEM TRANSACTIONS ARE IN COMPLIANCE WITH THE POLICY. OUTSIDE OF OUR CORE SYSTEM, OTHER AUTHORIZATIONS TO PERFORM HIGH LEVEL FUNCTIONS ARE ASSIGNED UNDER DUAL APPROVAL WITHIN POLICY LIMITS. BOARD APPROVAL IS RECEIVED WHEN NECESSARY FOR THOSE TRANSACTIONS AS STATED IN THE POLICY.

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$270,079,655
Liabilities
$249,210,925
Net assets
$20,868,730
Revenue
$13,037,692
Expenses
$12,619,190
Net income
$418,502
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$355$323$31.5$20.2$18.9$1.27
2023Detailed filing. Detailed filing data is available for this year.$357$327$30.2$18.0$16.6$1.36
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$391$364$26.9$15.9$13.5$2.40
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$354$327$27.1$14.7$12.4$2.24
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$336$311$24.9$15.2$14.0$1.20
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$319$296$23.7$15.8$14.6$1.23
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$310$287$22.5$14.9$13.5$1.40
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$281$260$21.1$13.5$13.2$0.25
2016Detailed filing. Detailed filing data is available for this year.$270$249$20.9$13.0$12.6$0.42
2015Detailed filing. Detailed filing data is available for this year.$256$235$20.5$13.1$11.8$1.27
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$249$230$19.2$12.0$11.6$0.42
2013Detailed filing. Detailed filing data is available for this year.$239$221$18.8$12.0$11.7$0.30
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$247$229$18.5$11.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$235$217$18.0$12.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$239$221$17.3$13.8