2025-11-13T14:39:59-05:00 2024-12-31 472604526 MYSTIC ACCOUNTING GROUP LLP PO BOX 397 MYSTIC CT 06355 990 2024-01-01 041144988 NAVEO CREDIT UNION NAVE 6177025128 493 SOMERVILLE AVENUE SOMERVILLE MA 02143 BRENDA TAM CFO 6177025128 2025-11-13 true false THEODOROS POULOPOULOS P02260731 8605361040 2025-11-13 2024 2025-03-06 01:10:19Z ANDREA WHITE 493 SOMERVILLE AVENUE SOMERVILLE MA 02143 8053625 false X HTTPS://NAVEO.ORG X 1928 MA MEMBER THRIFT AND SERVICE 9 8 47 8 11757 0 5679561 6143144 1130071 1188556 721925 6809632 8053625 56494 6000 0 3151376 3595887 0 0 3342032 4366943 6549902 7968830 259730 84795 170305612 171284500 162855833 162727120 7449779 8557380 X THE PROMOTION OF THRIFT AMONG ITS MEMBERS BY THE ACCUMULATION OF THEIR SAVINGS AND THE LOANING OF SUCH SAVINGS BACK TO ITS MEMBERS AT A MODERATE RATE OF INTEREST. PARTICIPATION IN THE CREDIT UNION IS LIMITED TO THOSE INDIVIDUALS WHO QUALIFY FOR MEMBERSHIP. THE FIELD OF MEMBERSHIP IS DEFINED IN THE CREDIT UNION'S BYLAWS WITH A SIGNIFICANT CONCENTRATION OF MEMBERS RESIDING IN SOMERVILLE AND CAMBRIDGE, MASSACHUSETTS AND SURROUNDING COMMUNITIES. false false MAINTENANCE OF MEMBER SHARE AND DEPOSIT ACCOUNTS, AND THE PAYMENT OF DIVIDENDS THEREON WITH THE PURPOSE OF LENDING TO MEMBERS AT COMPETITIVE INTEREST RATES. TOTAL NUMBER OF DEPOSIT ACCOUNTS WERE 13,145 AND TOTAL NUMBER OF LOAN ACCOUNTS WERE 1,710. false false false false false false false true false true false false false true true false false false false false false false false false false false false true true false false false true false false false false false false false false false false true 2658 0 47 true true true false false false false false false false X 9 8 false false false false true true true true true false false true true false false true true true false false MA X BRENDA TAM 6177025128 493 SOMERVILLE AVENUE SOMERVILLE MA 02143 ANDREA WHITE PRESIDENT/CE 40.00 X 496828 0 16030 KAREN YEE SVP/CHIEF LE 40.00 X 190542 0 18762 BRENDA TAM CFO 40.00 X 196695 0 12351 JAMIE LEVINE VP HUMAN RES 40.00 X 141805 0 19553 MICHAEL DWYER VP OF OPERAT 40.00 X 121368 0 22569 ANA SANTOS AVP OF LENDI 40.00 X 107995 0 5353 JASON ALVES DIRECTOR 2.00 X 0 0 0 PAUL FERREIRA SECRETARY 2.00 X X 0 0 0 MARIO G BRUM II DIRECTOR 2.00 X 0 0 0 JENNIFER LAWRENCE DIRECTOR 2.00 X 0 0 0 ISAAC MACHADO VICE CHAIRPE 2.00 X X 0 0 0 LEONTINA MANCINI CHAIRPERSON 2.00 X X 0 0 0 CHARLES MONTEMOR TREASURER 2.00 X X 0 0 0 MANUEL DA SILVA DIRECTOR 2.00 X 0 0 0 1255233 94618 7 false true false CONNECTICUT ONLINE COMPUTER CTR COCC 100 EXECUTIVE BLVD SOUTHINGTON CT 06489 DATA PROCESSING 731827 HARVARD PILGRIM HEALTHCARE 1 WELLNESS WAY CANTON MA 02021 HEALTH INSURANC 318902 UPSTART NETWORK INC PO BOX 1503 SAN CARLOS CA 94070 LENDING SERVICE 154786 ALLIED SOLUTIONS LLC 350 VETERANS WAY CARMEL IN 46032 LIAB INSURANCE 147261 4 INTEREST ON LOANS 522100 6143144 6143144 6143144 1188556 1188556 FEE AND SERVICE CHARGES 900099 498270 498270 LENDING INCOME 900099 211898 211898 NON-MEMBER ATM SURCHARGES 900099 11757 11757 721925 8053625 6853312 11757 1188556 6000 989578 1838492 51658 554130 162029 9338 166187 37347 198403 662580 298289 5584 2018717 189178 47261 OUTSIDE SERVICES 257420 LOAN SERVICING EXPENSES 173009 ATM/DEBIT CARD EXPENSE 143301 COMMUNITY DEVELOPMENT 50130 110199 7968830 0 0 0 788782 638434 3371080 5012953 47523 12481 107775957 105515815 217846 273853 5090270 3653263 1540873 1437007 49743464 53328079 4464000 2481000 2356087 2584878 170305612 171284500 2908768 8942891 571750 608252 159375315 153175977 162855833 162727120 X 7449779 8557380 7449779 8557380 170305612 171284500 84795 1022806 X false false false true X 209790 209790 430567 430567 2613339 1596869 1016470 1033953 866453 167500 802621 759374 43247 1437007 DEPOSITS ACCOUNTS 153175977 153175977 X SCHEDULE D, PAGE 2, PART IV, LINE 2B MORTGAGE ESCROW ACCOUNTS HELD FOR THE PAYMENT OF REAL ESTATE TAXES FOR MUNICIPALITIES. SCHEDULE D, PAGE 3, PART X THE CREDIT UNION FOLLOWS FASB ACCOUNTING STANDARDS CODIFICATION 740-10, ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES, AND HAS EVALUATED ITS TAX POSTITIONS TAKEN FOR ALL OPEN YEARS AND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE. true SCHOLARSHIP 1 1500 SCHOLARSHIP 1 1500 SCHOLARSHIP 1 3000 SCHEDULE I, PAGE 1, PART I, LINE 2 MANAGEMENT TEAM AND BOARD OF DIRECTORS REVIEW EACH APPLICATION CAREFULLY AND MONITOR GRANT PROCESS CLOSELY TO ENSURE THAT EXPENDITURES ARE APPROPRIATE. X X X X false false false ANDREA WHITE PRESIDENT/CEO 484228 12600 11777 4253 512858 KAREN YEE SVP/CHIEF LENDING 183667 6875 16112 2650 209304 BRENDA TAM CFO 189820 6875 10164 2187 209046 JAMIE LEVINE VP HUMAN RESOURCES 137146 4659 17438 2115 161358 PAUL FERREIRA DIRECTOR 9729 PRINTING false SCHEDULE L, PART V OFFICER AND DIRECTOR LOANS: SOME OF THE OFFICERS AND DIRECTORS HAVE LOANS OUTSTANDING WITH THE CREDIT UNION. THESE LOANS WERE OBTAINED IN THE NORMAL COURSE OF BUSINESS OF THE CREDIT UNION WITH THE SAME TERMS AND CONDITIONS AVAILABLE TO ALL MEMBERS. FORM 990 - ORGANIZATION'S MISSION THE PROMOTION OF THRIFT AMONG ITS MEMBERS BY THE ACCUMULATION OF THEIR SAVINGS AND THE LOANING OF SUCH SAVINGS BACK TO ITS MEMBERS AT A MODERATE RATE OF INTEREST. PARTICIPATION IN THE CREDIT UNION IS LIMITED TO THOSE INDIVIDUALS WHO QUALIFY FOR MEMBERSHIP. THE FIELD OF MEMBERSHIP IS DEFINED IN THE CREDIT UNION'S BYLAWS WITH A SIGNIFICANT CONCENTRATION OF MEMBERS RESIDING IN SOMERVILLE AND CAMBRIDGE, MASSACHUSETTS AND SURROUNDING COMMUNITIES. FORM 990, PAGE 6, PART VI, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7A CREDIT UNION MEMBERS ELECT THEIR VOLUNTEER BOARD OF DIRECTORS WHO ARE ALSO MEMBERS OF THE CREDIT UNION. ONE MEMBER, ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 7B ANY MAJOR CHANGES TO THE CREDIT UNION'S BY-LAWS MUST BE APPROVED BY THE MEMBERSHIP. FORM 990, PAGE 6, PART VI, LINE 11B THE CFO REVIEWS THE 990 RETURN PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 15A PERSONNEL COMMITTEE VOTES ON CEO COMPENSATION AS DETERMINED BY COMPENSATION STUDIES AND OTHER EMPLOYMENT DATA. FORM 990, PAGE 6, PART VI, LINE 19 THE CREDIT UNION'S BYLAWS ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION'S MAIN LOBBY AND ARE AVAILABLE UPON REQUEST. THEY CAN ALSO BE VIEWED ON NCUA'S WEBSITE.