2023-05-24T11:04:34-04:00 2022-12-31 592164330 Gerald E Creasman CPA PA 9200 S Dadeland Blvd Suite 504 Miami FL 33156 990 2022-01-01 060634736 SIKORSKY FINANCIAL CREDIT UNION SIKO 1000 ORONOQUE LANE STRATFORD CT 06614 BENJAMIN CITRIN CFO 2033772252 2023-04-09 false BENJAMIN CITRIN Gerald E Creasman CPA P00428587 3055960903 2023-05-24 0 00 AAL1 IAL1 2022 2023-04-26 12:10:37Z 41268421 false X WWW.SIKORSKYFCU.ORG X CU 1948 CT SIKORSKY FINANCIAL CREDIT UNION IS COMMITTED TO ACT IN THE BEST INTEREST OF ITS MEMBERSHIP 11 11 169 11 152626 0 0 26327423 28242151 2015363 5391738 6281207 7634532 34623993 41268421 0 0 13141009 13666956 0 0 15655069 15944072 28796078 29611028 5827915 11657393 1094000567 1128876808 982646634 1010478412 111353933 118398396 SIKORSKY FINANCIAL CREDIT UNION IS COMMITTED TO ACT IN THE BEST INTEREST OF ITS MEMBERSHIP false false 29611028 SFCU OFFERS SAVINGS AND LOAN PROGRAMS TO ITS MEMBERS. THE SHARE SAVINGS INCLUDE REGUALAR SHARES, DAILY MONEY MARKET ACCOUNTS, EARLY ADVANTAGE ACCOUNTS, COVERDALE ESA, SHARE DRAFT ACCOUNTS AND SHARE CERTIFICATES. THE LOAN PROGRAM INCLUDES MORTGAGES, AUTO NEW AND USED, RECREATIONAL VEHICLES, CONSUMER AND CREDIT CARD LOANS 29611028 false false false false false false false false false true true false false true false true false false false false false false false false false false false false true false false false false false false false false false false false false false false false true 0 0 true 169 true true true false false false false false false false false false false false false false false false false X 11 11 false false false false true true true true true false false true true true true true true true true false false CT X BENJAMIN W CITRIN 2033772252 1000 ORONOQUE LANE STRATFORD CT 06614 VINCENT CIAMBRIELLO JR PRESIDENTCEO 37.50 0.00 X 849832 0 205601 CHARLES K HODDINOTT EVPCOO 37.50 0.00 X 348497 0 56103 ALFRED S POSEY SVP CIO 37.50 0.00 X 315426 0 52017 KENNETH S FERRARI SVP CHIEF LENDING OFFICER 37.50 0.00 X 293450 0 52407 BENJAMIN W CITRIN SVPCFO 37.50 0.00 X 288761 0 56833 ANN MARIE GILLICK SVPCHIEF HR OFFICER 37.50 0.00 X 253299 0 50781 JOSEPH P NUZZO VP BUS LENDING 37.50 0.00 X 191121 0 27814 LEE A STATER HOME LOAN SALES MGR 37.50 0.00 X 176826 0 31029 TERRY BALLWEBER IT ADMIN 37.50 0.00 X 139727 0 26987 JENNA BARTLEY BUS ANALYTICS & PIM 37.50 0.00 X 129293 0 27161 DIANA E PFEIFFER VP LOAN SERVICING & COLLECTIO 37.50 0.00 X 151854 0 4504 TIMOTHY C CAHILL HOME LOAN CONSULTANT 37.50 0.00 X 122838 0 30466 ANN MARIE MARREIROS VP DEPOSIT OPERATIONS 37.50 0.00 X 144373 0 6585 ALISON M IGNATOWSKI HOME LOAN CONSULTANT 37.50 0.00 X 122935 0 23381 FRANCES A STANULONIS MTG OPERATONS MGR 37.50 0.00 X 122918 0 21071 ARLENE WILLIS BSA OFFICER 37.50 0.00 X 117093 0 13052 NICOLE M CORRIVEAU IT INFASTRUCTURE MGR 37.50 0.00 X 116354 0 12065 ZACHARY HASSELBARTH CONCUMER LENDING MGR 37.50 0.00 X 107601 0 14340 FRITIZIE PASCUAL BUS LENDING OP MGR 37.50 0.00 X 109993 0 9751 SALLY A PENDLETON SR MTG UNDERWRITER 37.50 0.00 X 102991 0 12548 LUCIA PANICO VP OF RETAIL BANKING 37.50 0.00 X 105398 0 9463 KRISTINA WENDELL MARKETING MGR 37.50 0.00 X 106101 0 2227 WILLIAM W BOIAN BOARD MEMBER 2.50 0.00 X 0 0 0 LYDIA KROHELSKI SUP COMM 2.50 0.00 X 0 0 0 WILLIAM F SCHLENK JR CHAIRPERSON OF THE BOARD 2.50 0.00 X 0 0 0 FABIENNE DESRAVINES SUP COMM 2.50 0.00 X 0 0 0 CAROL E NAVARRO 2ND VICE CHAIRPERSON 2.50 0.00 X 0 0 0 JOSEPH A KUBIC TREASURER 2.50 0.00 X 0 0 0 GEOFFREY R HERALD SUP COMM 2.50 0.00 X 0 0 0 SANDRA L POSCA CHAIRPERSON SUP COMM 2.50 0.00 X 0 0 0 JOHN PAWLOWSKI CHAIRPERSON OF TECH COMMITTEE 2.50 0.00 X 0 0 0 PAUL AURELIA SUP COMM 2.50 0.00 X 0 0 0 JEFFREY LACZKOSKI SEC SUP COMM 2.50 0.00 X 0 0 0 JAMES PRUSACZYK 1ST VICE CHAIRPERSON 2.50 0.00 X 0 0 0 ROBERT J DAVID CHAIRPERSON OF FINANCE & ENTE 2.50 0.00 X 0 0 0 RICHARD KOLLET SECRETARY 2.50 0.00 X 0 0 0 MAUREEN M FINO BOARD MEMBER 2.50 0.00 X 0 0 0 ELIZABETH H DORNEY CHAIRPERSON OF STRATEGIC PLAN 2.50 0.00 X 0 0 0 4416681 0 746186 22 false true false INTEREST ON LOANS 900099 24699539 24699539 FEES AND CHARGES 900099 3542612 3482784 59828 28242151 5391738 5391738 MISC INCOME 900099 5324755 5231957 92798 MISC NON OPERATING INC 900099 2309777 2309777 7634532 41268421 41115795 152626 0 2349265 2349265 8494758 8494758 393198 393198 1661640 1661640 768095 768095 679 679 216000 216000 1270078 1270078 633 633 1220806 1220806 OTHER DEDUCTIONS 13235876 13235876 29611028 29611028 0 0 230438580 89754497 1797674 1823353 649230149 767671482 995963 1169860 17821995 11257133 6924458 6564862 73022109 51786816 120976979 194979897 10614655 15126041 1094000567 1128876808 8284342 9474384 974362292 1001004028 982646634 1010478412 X 111353933 118398396 111353933 118398396 1094000567 1128876808 X 11657393 -4612930 X X false true X true false 600000 600000 4939440 3887725 1051715 2969825 2049411 920414 9312730 5319997 3992733 6564862 OTHER INVESTMENTS 194979897 C 194979897 ACCRUED INTEREST 1796735 ACCRUED INV INCOME 774444 OTHER ASSETS 12554862 15126041 MEMBERS SHARES 995313366 OTHER LIABILITIES 5690662 1001004028 41268421 41268421 41268421 29611028 29611028 29611028 TERRY BALLWEBER IT ADMIN 120979 15000 3748 26987 166714 TIMOTHY C CAHILL HOME LOAN CONSULTANT 52744 70094 30466 153304 VINCENT CIAMBRIELLO JR PRESIDENTCEO 594229 229000 26603 140000 65601 1055433 BENJAMIN W CITRIN SVPCFO 219237 68750 774 56833 345594 JENNA BARTLEY BUS ANALYTICS & PIM 99235 30000 58 27161 156454 KENNETH S FERRARI SVP CHIEF LENDING OFFICER 216470 72500 4480 52407 345857 ANN MARIE GILLICK SVPCHIEF HR OFFICER 177121 72500 3678 50781 304080 CHARLES K HODDINOTT EVPCOO 245943 94750 7804 56103 404600 ANN MARIE MARREIROS VP DEPOSIT OPERATIONS 121251 22750 372 6585 150958 DIANA E PFEIFFER VP LOAN SERVICING & COLLECTIONS 128470 22750 634 4504 156358 ALFRED S POSEY SVP CIO 213648 97500 4278 52017 367443 LEE A STATER HOME LOAN SALES MGR 83047 92184 1595 31029 207855 JOSEPH P NUZZO VP BUS LENDING 165617 25000 504 27814 218935 Members or stockholder classes and rights Part VI line 6 MEMBERS OF THE CU HAVE THE RIGHT TO APPROVE THE GOVERNING BODYS ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY,AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CU AS THEY OCCUR Member election for additional members Part VI line 7a MEMBERS OF THE CU HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATIONS GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE Governing body decisions Part VI line 7b THE CREDIT UNIONS (CU) MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CUS MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATIONS PROFITS IN THE FORM OF CASH DIVIDENDS Form 990 governing body review Part VI line 11 THE MANAGER OF INTERNAL AUDIT, CEO, SVP/CFO AND SFCU BOARD WILL REVIEW FORM 990 PRIOR TO ITS FILING Conflict of interest policy compliance Part VI line 12c ALL EMPLOYEEES ARE REQUIRED ANNUALLY TO READ AND ACKNOWLEDGE POLICIES THROUGH ADP PORTAL. ALL NEWLY HIRED EMPLOYEES ARE ALSO REQUIRED TO READ AND ACKNOWLEDGE POLICIES THROUGH ADP PORTAL. CEO executive director top management comp Part VI line 15a THE CREDIT UNION CEO SETS COMPENSATION FOR SFCU OFFICERS AND KEY EMPLOYEES WITHIN THE CU APPROVED BUDGET Other officer or key employee compensation Part VI line 15b THE EXECUTIVE COMMITTEE SETS COMPENSATION FOR THE CEO/PRESIDENT OF SFCU. THE CEO/PRESIDENT SETS COMPENSATION FOR SFCU OFFICERS AND KEY EMPLOYEES WITHIN THE CU APPROVED BUDGET. THE BOD USES DATA FROM ESTABLISHED SURVEY DATE PROVIDERS TO SET EXECUTIVE COMPENSATION. HUMAN RESOURCE COMMITTEE ANNUAL MEETING MINUTES PREPARED BY SVP OF HR AND CEO ARE APPROVED BY THE BOD AND MAINTAINED BY HR. A COPY IS PROVIDED TO THE MANAGER OF AUDIT. Governing documents etc available to public Part VI line 19 DOCUMENTS ARE MADE AVAILABLE UPON REASONABLE TIME REQUESTS Other or change in accounting method Part XII line 1 THE CU HAS ADOPTED GUIDELINES WHICH CONFORM TO THE BANK BRIBERY ACT OF 1985. GUIDELINES ARE INCORPORATED INTO THE CODE OF ETHICS AND CONFLICT OF INTEREST POLICIES, INCLUDED IN THE SFCU HANDBOOK, Explanation of other changes in net assets or fund balances Part XI line 9 ADJUSTMENTS FOR UNREALIZED GAINS(LOSSES) ON INVESTMENTS Part XII Response or note to any line in Part XII THE CREDIT UNION IS EXEMPT UNDER IRC 501(C)(14) FROM FEDERAL AND STATE INCOME TAXESCERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUNS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITYS EXEMPT PRUPOSE. AS PRESENTED IN THE TAM THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES DEEMED TAXABLE.THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2020 AND 2019THE CREDIT UNIONS 2018 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE AUTHORITIES