2024-11-05T13:50:27-07:00 2023-12-31 990 2023-01-01 036005430 802 CREDIT UNION 802C 8024799411 265 S Main St BARRE VT 05641 Jill Fortier CFO 8022513703 2024-03-18 1 2023 2024-10-15 13:58:12Z Sean Gammon 28 Heath Street South Burlington VT 05403 25836101 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 37,000. 11 11 124 24 0 0 0 0 13710070 21098193 2412250 4737908 0 0 16122320 25836101 0 0 300433 1303530 6934177 7726256 0 0 0 6465720 8613515 13700330 17643301 2421990 8192800 375569734 391520036 342930992 350224904 32638742 41295132 Credit Union - Services directly related to credit union operations providing automobile, home equity, and personal loans to a membership of approximately 37,000. 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 37,000. 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 0 124 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 50.00 X X 462292 0 0 Jill Fortier Chief Financial Officer 50.00 X 159141 0 0 Stacey Benoit Chief Operating Officer 50.00 X 153870 0 0 Chuck Karparis Senior Vice President of Lending 45.00 X X 141086 0 0 Ethan Grimes VP Mortgage Lending 45.00 X 115702 0 0 Celina Ayers VP Human Resources and Compliance 45.00 X 110563 0 0 Amanda Rosendbeck VP Branch Administration 45.00 X 105859 0 0 Laura Paice VP Consumer Lending 45.00 X 102774 0 0 Kate Boudreau VP of Finance and Operations 50.00 X 101924 0 0 Mary Hull Secretary 1.00 X X 0 0 0 Joeseph Shattie Board Member 1.00 X 0 0 0 Gary Adamski Board Member 1.00 X 0 0 0 Jeff Mobus Board Chair/President 1.00 X X 0 0 0 Owen Shindler 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 1.00 X 0 0 0 Bob Kendall Board Member 1.00 X 0 0 0 James Valente Board Member 1.00 X 0 0 0 Robin Sweetapple Board Member 1.00 X 0 0 0 Gladys Berry Board Member 1.00 X 0 0 0 1453211 0 0 9 1 1 0 0 0 Home Equity/Mortgage Loan 522130 9424085 9424085 0 0 Auto Personal/Misc Loan Interest 522130 5898477 5898477 0 0 Credit Card Interest Income 522130 609440 609440 0 0 Fees & Interchange Income 522130 5166191 5166191 0 0 0 0 0 0 21098193 4737908 4737908 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 25836101 25836101 0 0 X 0 0 0 1303530 1453211 0 4411707 517507 898437 445394 173679 1388145 582968 248415 405759 Loan Servicing Expense 517013 Professional Services 105200 Allowance for Loan & Lease Loss 950000 All Other Expenses 4242336 17643301 0 0 0 1860052 984750 135622996 96865265 0 0 673930 1103534 221502384 275509201 639847 1126230 14303263 5182220 8892587 9121043 6377938 6810013 375569734 391520036 1584923 2445372 0 0 0 0 0 0 0 0 0 0 0 0 0 0 341346069 347779532 342930992 350224904 X 0 0 0 0 32638742 41295132 32638742 41295132 375569734 391520036 8192800 0 0 0 463590 0 X 0 1 X 1 0 0 2309628 2309628 0 10061179 3629886 6431293 0 0 0 0 0 1932456 1552334 380122 0 0 0 0 9121043 0 Total Shares 347779532 347779532 25836101 0 0 0 0 0 25836101 0 0 0 25836101 17643301 0 0 0 0 0 17643301 0 0 0 17643301 X 1 1 X 0 1 0 Sean Gammon Exec Director/CEO 369609 0 0 0 92683 0 0 0 0 0 462292 0 0 0 Schedule J, Part I, Line 1a Small spousal/family expense reimbursement is allowed. Total expenses in this area is typically $500.00. The CEO receives a country club membership which is included in his income figure. Schedule J, Part I, Line 4 The CEO received a 457F distribution of $92,683 which was included in his income figure. Form 990, Part VI, Section A, Line 6 Yes, approximately 37,000 members. 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 the 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 2023 and previously in December 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 2022.