Nonprofit · EIN 14-1348251
HERITAGE FINANCIAL CREDIT UNION
Tax-exempt · MIDDLETOWN, NY 10941
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $43,533,935 | $44,053,308 | -$519,373 | $731,003,926 | $680,372,709 | $50,631,217 |
| December 31, 2023 | 990 | $39,441,134 | $35,817,586 | $3,623,548 | $711,994,516 | $661,500,832 | $50,493,684 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $41,386,809
- Investment income
- $1,831,121
- Net rental income
- $54,580
- Net gain from sales of assets
- -$278,645
- Other revenue
- $316,005
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $3,614,757
- Other salaries and wages
- $7,667,355
- Salaries, compensation and benefits (total)
- $13,497,234
- Professional fundraising fees
- $0
- Legal fees
- $191,142
- Occupancy
- $1,487,777
- Travel
- $117,521
- Depreciation
- $1,335,313
Balance sheet and other
- Total assets, start of year
- $711,994,516
- Total assets, end of year
- $731,003,926
- Total liabilities, end of year
- $680,372,709
- Net assets, end of year
- $50,631,217
- Land, buildings and equipment
- $21,244,769
- Gross unrelated business income
- $52,945
- Gross receipts
- $46,003,787
- Employees
- 228
- Volunteers
- 11
- Year formed
- 1940
- State of legal domicile
- NY
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.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHAEL CIRIELLO | CEOPresident Officer | 40 | $556,348 | $37,731 |
| FREDERICK CORNELIUS | EVP Officer | 40 | $290,979 | $31,149 |
| JONATHAN SHAKELTON | COO Officer | 40 | $204,882 | $18,984 |
| JULIETTE MCKERRELL | SVP of Commercial Officer | 40 | $180,691 | $14,541 |
| LUKE DEARMOND | VP of Lending Officer | 40 | $171,134 | $15,922 |
| MARYANN MAIKISCH | VP of HR Officer | 40 | $169,033 | $17,569 |
| JAMIE CAROLAN | VP of Finance Officer | 40 | $170,825 | $5,012 |
| SHAWN SIMMONS | MLO II Highest-paid employee | 40 | $154,569 | $20,379 |
| SAMANTHA PRIMO | MLO II Highest-paid employee | 40 | $165,565 | $8,804 |
| MICHAEL DESIENO | AVP of IT Officer | 40 | $137,121 | $28,532 |
| ANGELA MORRILL | AVP of Retail Officer | 40 | $138,510 | $7,461 |
| LINDA BOW | Director of Compliance Highest-paid employee | 40 | $125,819 | $15,137 |
| MARIO GUARNERI | VP of Audit Officer | 40 | $135,783 | $3,075 |
| CHRISTOPHER HAGAR | AVP of Sales Service Officer | 40 | $129,608 | $6,320 |
| RENA D'ANDRAIA | AVP of Marketing Officer | 40 | $105,657 | $25,890 |
14 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| NICOLE BENEDETTO | AVP of CU Operations Officer | 40 | $118,793 | $11,325 |
| GREGORY BECKWITH | AVP of SBO Officer | 40 | $129,635 | $0 |
| MICHELLE RODRIGUEZ-SOTO | AVP of Lending Product Officer | 40 | $120,950 | $3,216 |
| FABER CARMONA | Director of Lending Highest-paid employee | 40 | $99,909 | $21,907 |
| GLENDA SERRANO | Chief of Staff Officer | 40 | $112,821 | $6,128 |
| DANIEL RAPPAPORT | Manager of Real Estate Highest-paid employee | 40 | $99,336 | $12,512 |
| JILLIAN SEQUIST | AVP of Loan Operations Officer | 40 | $96,786 | $8,128 |
| KENNETH AFFELDT | Chairperson Trustee or director | 0 | $0 | $0 |
| THOMAS HOUSTON | Vice Chairperson Trustee or director | 0 | $0 | $0 |
| JENNIFER RYAN | Treasurer Trustee or director | 0 | $0 | $0 |
| SANDRA GEROW | Secretary Trustee or director | 0 | $0 | $0 |
| JOHN BOYLE | Director Trustee or director | 0 | $0 | $0 |
| NICHOLAS GIGLIO | Director Trustee or director | 0 | $0 | $0 |
| JOHN NAUMCHIK | Director Trustee or director | 0 | $0 | $0 |
990 for the year ended December 31, 2023: 33 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHAEL CIRIELLO | CEOPresident Officer | 40 | $611,585 | $16,500 |
| FREDERICK CORNELIUS | EVP Officer | 40 | $306,805 | $16,466 |
| PAUL PRIESEL | CIO Officer | 40 | $216,569 | $10,011 |
| JONATHAN SHAKELTON | COO Officer | 40 | $192,544 | $10,369 |
| MARYANN MAIKISCH | VP of HR Officer | 40 | $191,396 | $2,114 |
| JAMIE CAROLAN | VP of Finance Officer | 40 | $176,972 | $5,262 |
| MARIO GUARNERI | VP of Audit Officer | 40 | $164,305 | $5,224 |
| SHAWN SIMMONS | MLO II Highest-paid employee | 40 | $160,935 | $5,186 |
| SAMANTHA PRIMO | MLO II Highest-paid employee | 40 | $146,497 | $7,790 |
| JULIETTE MCKERRELL | SVP of Commercial Officer | 40 | $153,874 | $0 |
| LUKE DEARMOND | VP of Lending Officer | 40 | $151,736 | $560 |
| MICHAEL DESIENO | AVP of IT Officer | 40 | $126,935 | $7,132 |
| CHRISTOPHER HAGAR | AVP of Sales Service Officer | 40 | $126,900 | $6,628 |
| SONA BRAHMBHATT | Director of BI Highest-paid employee | 40 | $125,992 | $782 |
| RENA D'ANDRAIA | AVP of Marketing Officer | 40 | $119,675 | $4,044 |
| ANGELA MORRILL | AVP of Retail Officer | 40 | $115,575 | $6,426 |
| LINDA BOW | Director of Compliance Highest-paid employee | 40 | $120,678 | $0 |
| CHRISTOPHER OLSON | VP of Retail Officer | 40 | $113,799 | $4,424 |
| NICOLE BENEDETTO | AVP of Operations Officer | 40 | $111,324 | $3,639 |
| LISA MERRITT-SMITH | Director of HR Highest-paid employee | 40 | $108,950 | $436 |
| GLENDA SERRANO | Chief of Staff Officer | 40 | $100,627 | $4,338 |
| MICHELLE RODRIGUEZ-SOTO | AVP of Lending Product Officer | 40 | $95,314 | $0 |
| COLIN SYTSMA | AVP Controller Officer | 40 | $90,686 | $0 |
| MITCHELL DECOUER | AVP of Loan Operations Officer | 40 | $62,166 | $3,456 |
| JILLIAN SEQUIST | AVP of Loan Operations Officer | 40 | $49,849 | $0 |
| TEENA SLAVIN | AVP of Commercial Officer | 40 | $41,106 | $0 |
| KENNETH AFFELDT | Chairperson Trustee or director | – | $0 | $0 |
| THOMAS HOUSTON | Vice Chairperson Trustee or director | – | $0 | $0 |
| JENNIFER RYAN | Treasurer Trustee or director | – | $0 | $0 |
| SANDRA GEROW | Secretary Trustee or director | – | $0 | $0 |
| JOHN BOYLE | Director Trustee or director | – | $0 | $0 |
| NICHOLAS GIGLIO | Director Trustee or director | – | $0 | $0 |
| JOHN NAUMCHIK | Director Trustee or director | – | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 25 RYKOWSKI LN, MIDDLETOWN, NY 10941-4019
- In care of
- % JAMIE CAROLAN
- Principal officer (990 for 2024)
- Michael J Ciriello, 25 Rykowski Lane, Middletown, NY 10941
- Signed the 990
- JAMIE CAROLAN, VP of Finance
- Phone
- (845) 561-5607
- Website
- www.heritagefcu.com
Mission
https://heritagefcu.com/about/what-makes-us-different
Program accomplishments
- Credit Union. Retail Lending is the largest activity.
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 January, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | January 31, 2026 | June 15, 2026 | Not on file |
| 2024 | January 31, 2025 | June 16, 2025 | Not on file |
| 2023 | January 31, 2024 | June 17, 2024 | Check at the IRS |
IRS record
- EIN
- 14-1348251
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 2023
- Accounting year ends
- January
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W61)
- Assets (IRS master file)
- $731,003,926
- Income (IRS master file)
- $46,003,787
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $43,533,935 | $44,053,308 | $731,003,926 | IRS |
| 990 | December 2023 | $39,441,134 | $35,817,586 | $711,994,516 | XML |
| 990 | December 2022 | $31,237,369 | $26,151,580 | $623,273,313 | IRS |
| 990 | December 2021 | $27,512,989 | $23,510,176 | $534,877,422 | 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 14-1348251).
Questions about HERITAGE FINANCIAL CREDIT UNION
- What is the EIN of HERITAGE FINANCIAL CREDIT UNION?
- The employer identification number (EIN) of HERITAGE FINANCIAL CREDIT UNION is 14-1348251.
- Is HERITAGE FINANCIAL CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 2023.
- Are donations to HERITAGE FINANCIAL CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does HERITAGE FINANCIAL CREDIT UNION 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 HERITAGE FINANCIAL CREDIT UNION due?
- The return for tax year 2025 (the year ending January 31, 2026) is due June 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did HERITAGE FINANCIAL CREDIT UNION 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 HERITAGE FINANCIAL CREDIT UNION?
- The 990 for the year ended December 31, 2024 names Michael J Ciriello.
- Who are the officers and directors of HERITAGE FINANCIAL CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 29 people; 22 received compensation from the organization, the highest $556,348 (MICHAEL CIRIELLO, CEOPresident).
- How much revenue does HERITAGE FINANCIAL CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $43,533,935, expenses of $44,053,308 and total assets of $731,003,926 at year end.
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