Civic Intelligence

America'S First Network Credit Union

EIN 06-0944493 • 501(c)14 • East Hartford, CT

Profile

To improve the financial lives of our members, by providing high quality personal service as well as diversified and competitively priced financial products to our members/owners.

92 Pitkin StreetEast Hartford, CT 06108

www.afncu.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

55th percentile

0.89x

Higher debt load relative to assets than 55% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

45th percentile

16.04x

Higher debt load relative to revenue than 45% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2024

Net Margin

27th percentile

5.5%

Higher net margin than 27% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

99th percentile

19%

Faster asset growth than 99% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Annualized from 2022 to 2024

Revenue Growth

89th percentile

28%

Faster revenue growth than 89% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Annualized from 2022 to 2024

Assets

Up

$87,813,642

Up $13,215,877 (+18%) from 2023

Liabilities

Up

$78,021,188

Up $11,492,712 (+17%) from 2023

Net Assets

Up

$9,792,454

Up $1,723,165 (+21%) from 2023

Revenue

Up

$4,864,843

Up $948,556 (+24%) from 2023

Expenses

Up

$4,597,024

Up $1,227,360 (+36%) from 2023

Net Income

Down

$267,819

Down $278,804 (-51%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$100M$50M$0Assets 2020: $48,478,672Liabilities 2020: $44,180,059Net Assets 2020: $4,298,6132020Assets 2021: $59,717,811Liabilities 2021: $54,893,705Net Assets 2021: $4,824,1062021Assets 2022: $61,601,719Liabilities 2022: $56,349,295Net Assets 2022: $5,252,4242022Assets 2023: $74,597,765Liabilities 2023: $66,528,476Net Assets 2023: $8,069,2892023Assets 2024: $87,813,642Liabilities 2024: $78,021,188Net Assets 2024: $9,792,4542024

Highlighted filing

2024

Assets$87,813,642
Liabilities$78,021,188
Net Assets$9,792,454

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0Revenue 2020: $2,172,233Expenses 2020: $2,071,502Net Income 2020: $100,7312020Revenue 2021: $2,536,572Expenses 2021: $2,374,677Net Income 2021: $161,8952021Revenue 2022: $2,957,864Expenses 2022: $2,529,546Net Income 2022: $428,3182022Revenue 2023: $3,916,287Expenses 2023: $3,369,664Net Income 2023: $546,6232023Revenue 2024: $4,864,843Expenses 2024: $4,597,024Net Income 2024: $267,8192024

Highlighted filing

2024

Revenue$4,864,843
Expenses$4,597,024
Net Income$267,819

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$5,113,843
Mission and Program Overview

Mission

To improve the financial lives of our members, by providing high quality personal service as well as diversified and competitively priced financial products to our members/owners.

Provide financial services to our members and their family members that work and/or belong to specific companies/organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$46,042,531$55,427,477▲ $9,384,946
Investments Program Related$21,118,109$23,098,139▲ $1,980,030
Rtn Earn Endowment Incm Other Fnds$8,069,289$9,792,454▲ $1,723,165
Savings and Temporary Cash Investments$3,945,242$4,353,143▲ $407,901
Cash and Non-Interest-Bearing Accounts$840,641$1,872,758▲ $1,032,117
Land, Buildings, and Equipment, Net$569,710$513,824▼ $55,886
Accounts Receivable$290,705$383,669▲ $92,964
Prepaid Expenses and Deferred Charges$73,849$162,372▲ $88,523
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$74,597,765$87,813,642▲ $13,215,877
Other Assets Total$1,716,978$2,002,260▲ $285,282
Liabilities
Other Liabilities$65,899,998$77,456,657▲ $11,556,659
Accounts Payable and Accrued Expenses$628,478$564,531▼ $63,947
Total Liabilities$66,528,476$78,021,188▲ $11,492,712
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,069,289$9,792,454▲ $1,723,165
Total Liabilities and Net Assets / Fund Balance$74,597,765$87,813,642▲ $13,215,877

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$233,352$185,524$418,876
Leasehold Improvements$280,472$136,190$416,662
Investment Program Related Org$195,837--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nicholas MoalliPresident/CEO & Board MembFT$138,787$28,500$167,287
Barbara ThorpeBoard Secretary-$78,854-$78,854
June MartinBoard Treasurer-$1,260-$1,260

Board Members and Trustees

NameTitle
Dr Philip LaneBoard Chairman
Jospeh CarnaliBoard Chairman
Robert CounihanBoard Vice Chairman
Albert PostBoard Member
David LangBoard Member
Gregory MartyBoard Member
Jane DesrosiersBoard Member
Kelly FuhlbriggeBoard Member
Matthew Morton JrBoard Member
Scott ThompsonBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,998,101
Investment Income
$866,742
Other Revenue
$0
Change in Net Assets
$267,819
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,528,794
Salaries, Compensation, and Employee Benefits$2,068,230
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,517,535
Office Expenses---$656,705
Current Officers, Directors, Trustees, and Key Employees---$247,401
Occupancy---$210,761
Fees for Services Management---$163,051
Payroll Taxes---$151,723
Other Employee Benefits---$115,594
Information Technology---$78,753
Travel---$74,950
Other Expenses---$53,848
Advertising---$44,022
Depreciation Depletion---$43,527
Pension Plan Contributions---$35,977
Insurance---$34,685
Payments to Affiliates---$18,884
Fees for Services Other---$17,412
Conferences and Meetings---$14,200
Fees for Services Accounting---$11,750
Fees for Services Legal---$7,950
Fees for Service Investment Mgmnt Fees---$5,489
Interest---$82
Total Functional Expenses$0$0$0$4,597,024
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposits$73,478,657
Brokered Non-member Deposits$3,729,000
NON MEMBER DEPOSITS (OTHER FI'S)$249,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
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

Any individual with a $5.00 or more share account in good standing is member owner.

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

Members elect board members at an annual meeting of the membership.

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

A full vote of the membership is required for items such as: charter conversions, merger, liquidation or other substantial changes to the bylaws.

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

After the form 990 is prepared, report is distributed to cu board members.

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

The written conflict of interest policy is reviewed every 12-18 months and revised when necessary. Any board member with a potential conflict will abstain from voting if matter arises during the year.

Form 990, Part VI, Section B, Line 15

The entire board reviews key employees salaries prior to the approved budget each year.

Form 990, Part VI, Section C, Line 19

The credit union makes all listed documents available upon request. In addition, the financial statements are available for public viewing on the ncua website (www.ncua.gov)

Filing and Contact Details

Filer

Filer Name
AMERICA'S FIRST NETWORK CREDIT UNION
EIN
06-0944493
Phone
8602910345
Address
92 PITKIN STREET, EAST HARTFORD, CT 06108

Signing Officer

Name
Nicholas Moalli
Title
President/CEO
Phone
8602910345
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicholas a Moalli
Formed
1976
Legal Domicile
Ct
Voting Board Members
9
Independent Board Members
7
Employees
39
Volunteers
32

Preparer

Firm
Bailey Scarano LLC
Address
1224 MAIN STREET, BRANFORD, CT 06405
Preparer
Steven M Moalli CPA
Phone
2034811120
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

MERGER 1,455,346.

Raw XML AppendixShowing 400 of 435 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/ProgramServiceRevenueGrp/BusinessCd3522100
IRS990/ProgramServiceRevenueGrp/BusinessCd4524298
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INCOME
IRS990/ProgramServiceRevenueGrp/Desc1FEE INCOME (NSF, LATE
IRS990/ProgramServiceRevenueGrp/Desc2DEBIT CARD/ATM PROGRAM
IRS990/ProgramServiceRevenueGrp/Desc3MISCELLANEOUS OPERATIN
IRS990/ProgramServiceRevenueGrp/Desc4INSURANCE/LOAN PROTECT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03301426
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1328371
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2277320
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt366539
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03301426
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1328371
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2277320
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt366539
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt424445
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt024445
IRS990/ProgSrvcAccomActy2Grp/Desc0INTEREST EARNED ON CREDIT UNION INVESTMENTS
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0629644
IRS990/PYOtherExpensesAmt01812104
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt03286643
IRS990/PYRevenuesLessExpensesAmt0546623
IRS990/PYSalariesCompEmpBnftPaidAmt01557560
IRS990/PYTotalExpensesAmt03369664
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03916287
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0267819
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt08069289
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt09792454
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03945242
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04353143
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0233352
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0185524
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0418876
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt022902302
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1195837
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0BANK/CREDIT UNION - CDS & CERTIFICATES
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1PERPETUAL CORPORATE CREDIT UNION CAPITAL
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0280472
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0136190
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0416662
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt073478657
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1249000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt23729000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NON MEMBER DEPOSITS (OTHER FI'S)
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2BROKERED NON-MEMBER DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0513824
IRS990ScheduleD/TotalBookValueProgramRltdAmt023098139
IRS990ScheduleD/TotalLiabilityAmt077456657
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0138787
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount028500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0NICHOLAS MOALLI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO & BOARD MEMB
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0167287
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ANY INDIVIDUAL WITH A $5.00 OR MORE SHARE ACCOUNT IN GOOD STANDING IS MEMBER OWNER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ELECT BOARD MEMBERS AT AN ANNUAL MEETING OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A FULL VOTE OF THE MEMBERSHIP IS REQUIRED FOR ITEMS SUCH AS: CHARTER CONVERSIONS, MERGER, LIQUIDATION OR OTHER SUBSTANTIAL CHANGES TO THE BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AFTER THE FORM 990 IS PREPARED, REPORT IS DISTRIBUTED TO CU BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE WRITTEN CONFLICT OF INTEREST POLICY IS REVIEWED EVERY 12-18 MONTHS AND REVISED WHEN NECESSARY. ANY BOARD MEMBER WITH A POTENTIAL CONFLICT WILL ABSTAIN FROM VOTING IF MATTER ARISES DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ENTIRE BOARD REVIEWS KEY EMPLOYEES SALARIES PRIOR TO THE APPROVED BUDGET EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE CREDIT UNION MAKES ALL LISTED DOCUMENTS AVAILABLE UPON REQUEST. IN ADDITION, THE FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON THE NCUA WEBSITE (WWW.NCUA.GOV)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MERGER 1,455,346.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CT
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt074597765
IRS990/TotalAssetsEOYAmt087813642
IRS990/TotalAssetsGrp/BOYAmt074597765
IRS990/TotalAssetsGrp/EOYAmt087813642
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt039
IRS990/TotalFunctionalExpensesGrp/TotalAmt04597024
IRS990/TotalGrossUBIAmt018683
IRS990/TotalLiabilitiesBOYAmt066528476
IRS990/TotalLiabilitiesEOYAmt078021188
IRS990/TotalLiabilitiesGrp/BOYAmt066528476
IRS990/TotalLiabilitiesGrp/EOYAmt078021188
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08069289
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt09792454
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt03998101
IRS990/TotalReportableCompFromOrgAmt0247401
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04846160
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04864843
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt018683
IRS990/TotalVolunteersCnt032
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt074597765
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt087813642
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt074950
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt092 PITKIN STREET
IRS990/USAddress/CityNm0EAST HARTFORD

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