2023-10-28T14:01:25-07:00 2022-12-31 990 2022-01-01 036005430 802 CREDIT UNION 802C 8024799411 265 S Main St BARRE VT 05641 Jill Fortier CFO 8022513703 2023-10-25 1 1 11 0 AAL2 2022 2023-04-26 12:10:37Z Sean Gammon 28 Heath Street South Burlington VT 05403 16122320 0 X WWW.802CU.COM X 1953 VT Credit Union - Services directly related to credit union operations providing automobile, home equity, and personal loans to a membership of approximately 34,000. 11 11 126 25 0 0 0 0 12353697 13710070 902483 2412250 0 0 13256180 16122320 0 0 362493 300433 7013457 6934177 0 0 0 4839190 6465720 12215140 13700330 1041040 2421990 364670172 375569734 334453420 342930992 30216752 32638742 Credit Union - Services directly related to credit union operations providing automobile, home equity, and personal loans to a membership of approximately 34,000. 0 0 Membership benefit programs and services directly related to Credit Union operations providing automobile, home equity, personal loans and mortgages to a membership of approximately 34,000. 0 0 0 0 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 0 0 0 1 0 0 126 1 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 0 0 X Sean Gammon 8028614570 PO BOX 745 265 South Main St BARRE VT 05641 Sean Gammon Exec Director/CEO 50 X X 331660 0 0 Jill Fortier Chief Financial Officer 50 X 142798 0 0 Stacey Benoit Chief Operating Officer 50 X 140601 0 0 Chuck Karparis Senior Vice President of Lending 45 X 131353 0 0 Ethan Grimes VP Mortgage Lending 45 X 105931 0 0 Mary Hull Secretary 1 X X 0 0 0 Anne Marie HestnesHarris Board Member 1.00 X 0 0 0 Gary Adamski Board Member 1.00 X 0 0 0 Jeff Mobus Board Chair/President 1 X X 0 0 0 Owen Shindler Board Member 1.00 X 0 0 0 Deborah Carpenter Board Member 1.00 X 0 0 0 John Sama Board Member/Treasurer 1.00 X X 0 0 0 Michael Cooney Board Vice Chair 1.0 X 0 0 0 Bob Kendall Board Member 1.00 X 0 0 0 James Valente Board Member 1.0 X 0 0 0 Robin Sweetapple Board Member 1 0 X 0 0 0 852343 0 0 5 0 1 0 0 0 Home Equity/Mortgage Loan 522130 5124927 5124927 0 0 Auto Personal/Misc Loan Interest 522130 4001727 4001727 0 0 Credit Card Interest Income 522130 563730 563730 0 0 Fees & Interchange Income 522130 4019686 4019686 0 0 0 0 0 0 13710070 2412250 2412250 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 16122320 16122320 0 0 X 0 0 0 300433 852343 0 4464570 439273 781938 396053 227596 1159807 556795 113484 494710 Loan Servicing Expense 369202 Professional Services 82558 Provision For Loan Loss 640000 All Other Expenses 2821568 0 13700330 0 0 0 3900824 1860052 154911705 135622996 0 418998 673930 189429109 221502384 617922 639847 12821767 3929180 9309121 8892587 6082493 6377938 364670172 375569734 1436883 1584923 0 0 0 0 0 0 0 333016537 341346069 334453420 342930992 X 0 0 0 0 30216752 32638742 30216752 32638742 364670172 375569734 2421990 0 0 0 0 0 X 0 1 X 1 0 0 1823740 1823740 0 9631447 2973496 6657951 0 160888 48154 112734 0 1205692 907530 298162 0 0 0 0 8892587 0 Total Shares 341346069 341346069 16122320 0 0 0 0 0 16122320 0 0 0 16122320 13700330 0 0 0 0 0 13700330 0 0 0 13700330 X 1 1 X 0 0 0 Sean Gammon Exec Director/CEO 331660 0 0 0 0 0 0 0 0 0 331660 0 0 0 Schedule J, Part I, Line 1a Small spousal/family expense reimbursement is allowed. Total expense in this area is typically $500. The CEO receives a country club membership which is included in his income figure. Schedule J, Part I, Line 3 The VP of HR, CEO and Board of Directors compare CEO salaries using several resources to determine the accurate figure for our CEO. Form 990, Part VI, Section A, Line 6 Yes, approximately 34,000 Form 990, Part VI, Section A, Line 7a The governing body is elected by the membership. Form 990, Part VI, Section A, Line 7b Yes, bylaw changes and merger decisions must be approved by the membership. Form 990, Part VI, Section B, Line 11b Reviewed by a combination of the CEO, management team and President of the Board of Directors. Form 990, Part VI, Section B, Line 12c Through monthly Board meetings, Supervisory Committee review, Management review and annual policy review. Potential loan conflicts are reviewed with each loan request and documented approval is in each file. Form 990, Part VI, Section B, Line 15 A detailed comparability analysis took place for the CEO's salary in December 2022 and previously in January 2022. Form 990, Part VI, Section C, Line 19 Financials are posted monthly at all of our locations and also distributed at our annual meeting. Form 990, Part IX, Line 24a - 24d General Credit Union Operating Expense The Credit Union is late in filing due to having a system conversion this year stemming from our merger in 2020.