2024-05-09T12:11:20-05:00 2023-12-31 042513210 GERALD T REILLY & COMPANY 424 ADAMS STREET MILTON MA 02186 990 2023-01-01 041104060 MASS BAY CREDIT UNION MASS 6172692700 147 WEST FOURTH STREET SOUTH BOSTON MA 02127 THERESA DORILAS CEO 6172692700 2024-05-08 1 THERESA DORILAS 999009999 0 JAYME F MOORE CPA P01348807 6176968900 2024-05-08 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z THERESA DORILAS 147 WEST FOURTH STREET SOUTH BOSTON MA 02127 16486383 0 X WWW.MASSBAYCU.ORG X CREDIT UNION 1936 MA REFERENCE PART III, # 1 FOR FULL DESCRIPTION OF THE ORGANIZATION'S MISSION. 15 15 76 15 0 0 1118037 0 12082362 15569210 768604 917173 0 0 13969003 16486383 0 0 0 0 4198505 4572114 0 0 0 5570756 9406193 9769261 13978307 4199742 2508076 324262478 349698007 294622214 316837559 29640264 32860448 X A FULL SERVICE FINANCIAL INSTITUTION THAT STRIVES TO PROVIDE THE HIGHEST LEVEL OF SERVICE AND PERSONAL ATTENTION TO ALL OF THEIR MEMBERS, WHILE CONTINUALLY TRYING TO EXPAND AND REFINE THEIR PRODUCTS AND SERVICE, OFFERING TO BEST MEET THEIR NEEDS, AT HIGHLY COMPETITIVE RATES AND UNSURPASSED VALUE. 0 0 TO PROVIDE FINANCIAL SERVICES TO ITS MEMBERS BY PROVIDING ACCESS TO LOANS AND ACCEPT DEPOSITS. AS OF 12/31/23 $293,755,946 OF LOANS WERE DUE FROM MEMBERS AND $243,083,767 OF DEPOSITS WERE RECEIVED FROM MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 4827 0 76 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X THERESA DORILAS 6172692700 147 WEST FOURTH STREET SOUTH BOSTON MA 02127 THERESA DORILAS PRESIDENT & CEO 40.00 X 307905 0 68465 KELLI CULLEN COO 40.00 X 167943 0 57343 ANTHONY BONOMO CFO 40.00 X 179507 0 40318 JOHN KINEAVY CHAIRMAN 1.00 X X 0 0 384 MICHAEL T BUGGY FIRST VICE CHAIR 1.00 X X 0 0 384 WILLIAM VIETZE SECOND VICE CHAIR 1.00 X X 0 0 384 JEREMIAH P AHERN TREASURER 1.00 X X 0 0 384 KIMBERLY A KENNEDY ASSISTANT TREASURER 1.00 X X 0 0 384 DARREN MCAULIFFE CLERK 1.00 X X 0 0 384 KRISHAUNNA BAPTISTE DIRECTOR 1.00 X 0 0 0 MAUREEN A COLLINS DIRECTOR 1.00 X 0 0 250 BRIAN P DWYER DIRECTOR 1.00 X 0 0 384 ADAM S ELIAS DIRECTOR 1.00 X 0 0 384 JAMES G FLAHERTY DIRECTOR 1.00 X 0 0 384 DARRYL GREEN DIRECTOR 1.00 X 0 0 0 MICHAEL E KEELEY DIRECTOR 1.00 X 0 0 261 JOSEPH N MOSCA DIRECTOR 1.00 X 0 0 350 FRANK MURRAY DIRECTOR 1.00 X 0 0 384 655355 0 170827 8 0 1 0 0 LOAN INCOME 522100 13286451 13286451 FEES ON ACCOUNTS 522100 2092624 2092624 OTHER INCOME 522100 190135 190135 15569210 917173 917173 16486383 15569210 0 917173 826181 2641137 359654 443302 301840 119450 60000 115800 34800 420000 94070 1138023 105332 4392896 439820 67135 DATA PROCESSING EXPENSE 1090952 OTHER GENERAL & ADMINIS 889017 PROVISION FOR LOAN LOSS 408898 DONATIONS 30000 13978307 18307445 15432324 127491 1285164 261438938 293755946 1435049 327340 13575971 8896867 4927230 4679104 31982818 28151930 4351375 4147709 1692132 1918490 324262478 349698007 6824647 6753792 287797567 310083767 294622214 316837559 X 0 0 0 0 29640264 32860448 29640264 32860448 324262478 349698007 X 2508076 859521 -147413 X 0 1 X 1 0 2351251 2351251 6064632 4572993 1491639 1115402 653323 462079 4044686 3670551 374135 4679104 MEMBER DEPOSITS & MORTGAGE ESCROWS 243083767 FHLB BORROWINGS 67000000 310083767 16486383 0 16486383 0 16486383 13978307 0 13978307 0 13978307 X 1 1 X X 0 0 0 THERESA DORILAS PRESIDENT & CEO 307905 0 0 0 0 0 0 0 68465 0 376370 0 0 0 KELLI CULLEN COO 167943 0 0 0 0 0 0 0 57343 0 225286 0 0 0 ANTHONY BONOMO CFO 179507 0 0 0 0 0 0 0 40318 0 219825 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - THE CREDIT UNION REIMBURSES BOARD MEMBERS FOR CONFERENCE EXPENSES (TRAVEL, MEALS, LODGING) INCURRED BY A BOARD MEMBER'S SPOUSE OR GUEST, AS DESCRIBED IN THE CREDIT UNION'S DIRECTOR EXPENSE POLICY APPROVED BY THE BOARD. FORM 990, PART VI, SECTION A, LINE 6 DEPOSITORS WITH A MINIMUM OF $5 BALANCE IN THEIR SAVINGS ACCOUNT. MEMBERS HAVE VOTING RIGHTS WHICH ARE LIMITED TO THE ANNUAL MEETING AND ANY SPECIAL MEETINGS HELD DUE TO CHARTER CHANGES, MERGERS,ETC. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE VOTED ON BY THE MEMBERS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B ELECTION OF DIRECTORS, CHARTER CHANGES AND MERGERS REQUIRE A VOTE BY THE MEMBERS. ONLY MEMBERS THAT ATTEND THE ANNUAL MEETING OR SPECIAL MEETING ARE REQUIRED TO VOTE. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS THE FORM 990 AND PROVIDES COPY TO THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THIS IS MONITORED BY THE CREDIT UNION ENSURING THAT THE ORGANIZATION IS NOT USING VENDORS THAT ANY BOARD MEMBER WORKS FOR OR ARE AFFILIATED WITH. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION OBTAINS COMPARISON STUDIES AND SALARY SURVEYS AND USES INDEPENDENT CONSULTANTS IN DETERMINING THE COMPENSATION OF THE CEO AND SENIOR MANAGEMENT OF THE CREDIT UNION. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S CALL REPORT AND FINANCIAL INFORMATION IS AVAILABLE THROUGH THE NCUA WEBSITE. PRIVACY POLICIES ARE STATED ON THE MASS BAY CREDIT UNION WEBSITE. FORM 990, PART XI, LINE 9: OCI FAS 158 ADJUSTMENT 27,587. ADOPTION OF CECL ACCOUNTING STANDARD ASC 326 -175,000. MASS BAY CREDIT UNION CHARITABLE FOUNDATION INC 147 WEST FOURTH STREET SOUTH BOSTON MA 02127 474345057 SUPPORTS LOCAL ORGANIZATIONS IN THE COMMUNITY MA 501(C)(3) 170(B)(1)(A)(VI) MASS BAY CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MASS BAY CREDIT UNION CHARITABLE FOUNDATION INC B 30000 COST