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Nonprofit · EIN 06-0701899

MUTUAL SECURITY CREDIT UNION INC

Tax-exempt · SHELTON, CT 06484

Financials

$18M$16.6M2023$20.2M$18.9M2024
Revenue Expenses · by fiscal year end
Financials of MUTUAL SECURITY CREDIT UNION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$20,187,778$18,920,512$1,267,266$354,958,379$323,462,691$31,495,688
December 31, 2023990$17,991,355$16,626,896$1,364,459$357,474,048$327,237,727$30,236,321
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$19,340,027
Investment income
$847,751
Net gain from sales of assets
$879
Other revenue
$0

Expenses

Grants and similar amounts paid
$6,000
Compensation of officers, directors and key employees
$513,778
Other salaries and wages
$5,322,975
Salaries, compensation and benefits (total)
$7,161,101
Professional fundraising fees
$0
Legal fees
$79,912
Accounting fees
$62,514
Occupancy
$681,444
Travel
$12,178
Depreciation
$467,203

Balance sheet and other

Total assets, start of year
$357,474,048
Total assets, end of year
$354,958,379
Total liabilities, end of year
$323,462,691
Net assets, end of year
$31,495,688
Land, buildings and equipment
$4,592,722
Gross unrelated business income
$74,966
Gross receipts
$20,191,856
Employees
92
Volunteers
61
Year formed
2001
State of legal domicile
CT

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
HENRY BAUMCEO
Officer
45$300,620$40,109
JEFFREY TRACEYVP, LENDING
Highest-paid employee
45$212,530$16,641
MARIA LAZORVP, RISK & STRATERGY MANAGEMENT
Highest-paid employee
45$149,347$47,888
MICHAEL AUGUSTIVP, SALES AND SERVICE
Highest-paid employee
45$170,784$21,178
ANN NANKERVISVP, HUMAN RESOURCES
Highest-paid employee
45$169,769$12,586
CHARLES OKYERECFO
Officer
40$163,037$10,011
CHRIS HORVATHDIRECTOR OF IT
Highest-paid employee
45$132,377$17,326
ROBERT J BASTADIRECTOR
Trustee or director
5$0$0
ANN BUDZYNSKIDIRECTOR
Trustee or director
5$0$0
KEN DECKERTREASURER
Trustee or director, Officer
5$0$0
BRUCE M LIKELYCHAIR
Trustee or director, Officer
5$0$0
ROBERT LUBUSSECRETARY
Trustee or director, Officer
5$0$0
ROBERT MARAGESVICE CHAIR
Trustee or director, Officer
5$0$0
EDWIN RODRIGUEZDIRECTOR
Trustee or director
5$0$0
990 for the year ended December 31, 2023: 14 people
NameTitleHours / weekCompensationOther / benefits
HENRY BAUMCEO
Officer
45$275,045$35,202
STEPHEN OSOWIECKICFO
Officer
45$206,634$41,370
JEFFREY TRACEYVP OF LENDING
Highest-paid employee
45$179,952$15,622
MICHAEL AUGUSTIVP OF SALES AND MARKETING
Highest-paid employee
45$166,214$15,824
MARIA LAZORDIRECTOR OF OPERATIONS
Highest-paid employee
45$134,114$42,057
ANN NANKERVISVP OF HR AND COMPLIANCE
Highest-paid employee
45$162,099$11,410
CHRIS HORVATHIT MANAGER
Highest-paid employee
45$122,484$14,362
ROBERT J BASTADIRECTOR
Trustee or director
5$0$0
ANN BUDZYNSKIDIRECTOR
Trustee or director
5$0$0
KEN DECKERTREASURER
Trustee or director, Officer
5$0$0
BRUCE M LIKELYCHAIR
Trustee or director, Officer
5$0$0
ROBERT LUBUSSECRETARY
Trustee or director, Officer
5$0$0
ROBERT MARAGESVICE CHAIR
Trustee or director, Officer
5$0$0
EDWIN RODRIGUEZDIRECTOR
Trustee or director
5$0$0

Address and contacts

Address (IRS master file)
1000 BRIDGEPORT AVE STE 503, SHELTON, CT 06484-4602
Principal officer (990 for 2024)
HENRY T BAUM, 1000 BRIDGEPORT AVENUE 503, SHELTON, CT 06484
Signed the 990
CHARLES OKYERE, CFO
Phone
(800) 761-2400
Website
MSCU.NET
Return prepared by
RSM US LLP

Mission

WE ARE BUILDERS OF FINANCIAL WELL-BEING WITHIN THE COMMUNITIES WE SERVE.

990 for the year ended December 31, 2024

Program accomplishments

  • MUTUAL SECURITY CREDIT UNION OFFERS MEMBERS VARIOUS CONSUMER LOAN PRODUCTS (PERSONAL LOANS, AUTO LOANS, MORTGAGES - 1ST, 2ND, AND HOME EQUITY LINES OF CREDIT, SMART ENERGY LOANS). NEW LOANS ISSUED IN 2024: PERSONAL LOANS = 598, NEW & USED AUTO LOANS = 894, 1ST, 2ND & HELOCS = 109, SMART ENERGY LOANS = 66.
  • MUTUAL SECURITY CREDIT UNION OFFERS MEMBERS OUR VISA CREDIT CARDS AND VISA CHECK CARD (DEBIT CARD). NEW VISA ACCOUNTS ISSUED IN 2024 = 199.
  • MUTUAL SECURITY CREDIT UNION OFFERS MEMBERS OUR VARIOUS CHECKING ACCOUNT PROGRAMS. NEW CHECKING ACCOUNTS OPENED IN 2024 = 88.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
06-0701899
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1976
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$354,958,379
Income (IRS master file)
$20,191,856

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$20,187,778$18,920,512$354,958,379IRS
990December 2023$17,991,355$16,626,896$357,474,048XML
990December 2022$15,885,151$13,489,120$390,854,151IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 06-0701899).

Questions about MUTUAL SECURITY CREDIT UNION INC

What is the EIN of MUTUAL SECURITY CREDIT UNION INC?
The employer identification number (EIN) of MUTUAL SECURITY CREDIT UNION INC is 06-0701899.
Is MUTUAL SECURITY CREDIT UNION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1976.
Are donations to MUTUAL SECURITY CREDIT UNION INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does MUTUAL SECURITY CREDIT UNION INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of MUTUAL SECURITY CREDIT UNION INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did MUTUAL SECURITY CREDIT UNION INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of MUTUAL SECURITY CREDIT UNION INC?
The 990 for the year ended December 31, 2024 names HENRY T BAUM.
Who are the officers and directors of MUTUAL SECURITY CREDIT UNION INC?
The 990 for the year ended December 31, 2024 lists 14 people; 7 received compensation from the organization, the highest $300,620 (HENRY BAUM, CEO).
How much revenue does MUTUAL SECURITY CREDIT UNION INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $20,187,778, expenses of $18,920,512 and total assets of $354,958,379 at year end.

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