2024-10-25T14:59:15-05:00 2023-12-31 010523282 Berry Dunn McNeil & Parker LLC 1000 Elm Street 4th Floor Manchester NH 03101 990 2023-01-01 020196520 Bellwether Community Credit Union BELL 6036458181 425 Hooksett Road Manchester NH 03104 Jonathan Oglebay CFO 6036458181 2024-10-24 1 1 Melissa Magoon CPA P01712842 6036697337 2024-10-24 2023 2024-10-15 13:58:12Z Jonathan Oglebay 425 Hooksett Road Manchester NH 03104 29364845 0 X www.bccu.org X 1921 NH Operate a state chartered credit union for the benefit of its members. 9 9 110 9 327826 108571 0 0 19714797 25420370 2897473 3303935 0 0 22612270 28724305 0 87545 2201644 7809610 9002292 8582505 0 0 0 9153945 11691264 20357881 28170924 2254389 553381 594268573 599439573 547430366 551137294 46838207 48302279 To operate a state chartered credit union to provide loan and deposit services for the benefit of its members. 0 0 Program services relate to daily operations of a locally controlled, full-service credit union. We make loans, accept deposit accounts, and continually and efficiently provide other relevant financial services to a member base of approximately 26,300 individuals. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 101 0 1 110 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X Jonathan Oglebay 6036458181 425 Hooksett Road Manchester NH 03104 Gail Garceau Chairwoman 1.00 0.00 X X 0 0 0 Nick Soggu Vice Chair 1.00 0.00 X X 0 0 0 Kate Luczko Secretary/Treasurer 1.00 0.00 X X 0 0 0 Eva L Martel Director/Supervisory Committee Chair 1.00 0.00 X X 0 0 0 John J Gennetti Director 1.00 0.00 X 0 0 0 Sean O'Kane Director 1.00 0.00 X 0 0 0 Seth Wall Director 1.00 0.00 X 0 0 0 Maura Weston Director 1.00 0.00 X 0 0 0 Len Williams Director 1.00 0.00 X 0 0 0 Patrick C McHugh Past Director 1.00 0.00 X 0 0 0 Nathan D Saller President & CEO 45.00 0.00 X 472132 0 60661 Jonathan Oglebay SVP/CFO 45.00 0.00 X 188749 0 47977 Jeffrey R Benson Past SVP/COO 45.00 0.00 X 207009 0 10875 Nancy D Nadeau SVP/CAO 45.00 0.00 X 209541 0 101078 William Zafirson SVP/CLO 45.00 0.00 X 275064 0 65619 Suzanne Beaubien VP/Retail Services 45.00 0.00 X 185171 0 26259 Lori Holmes VP/Marketing 45.00 0.00 X 161774 0 36999 J Michael Perrella VP/Business Services 45.00 0.00 X 165771 0 35349 Heather Tancreti VP/Consumer Lending 45.00 0.00 X 169466 0 39153 2034677 0 423970 15 0 1 0 PSCU 560 Carillon Parkway St Petersburg FL 33716 Credit Card Services 846509 Upstart Networking 2950 S Delaware St Suite 300 San Mateo CA 94403 Personal Loans 681109 Q2 Software Inc PO Box 205970 Dallas TX 75320 Online Banking 603012 Visa Inc One Market Plaza San Francisco CA 94105 Credit Card Services 205752 Financial Statement Services 3300 South Fairview Street Santa Ana CA 92704 Statement Printing/Mailing 176331 13 Interest Income 522100 21842109 21842109 Fee & Service Income 522100 3578261 3250435 327826 25420370 3202759 3202759 660658 81058 640540 0 20118 81058 101176 101176 28724305 25092544 327826 3303935 87545 7809610 1298022 5238693 658161 951318 436311 73000 184668 351228 571352 96209 1556753 637199 29337 143945 3135283 885002 116097 Operations Expense 1872303 Loan Servicing Expenses 1063095 Provision for Loan Loss 942273 UBI Tax 33520 28170924 X 4695247 20394586 15194545 10432390 429407153 439481197 24601227 15427355 9910291 9173872 113288348 101435838 21772989 18521690 594268573 599439573 5821967 4925375 66999687 70799687 474608712 475412232 547430366 551137294 X 0 0 0 0 46838207 48302279 46838207 48302279 594268573 599439573 X 553381 965534 -54843 0 X 0 1 X 1 0 3771502 3771502 10122014 5974827 4147187 10640417 9452528 1187889 67294 67294 9173872 Member Deposits 475412232 475412232 29689839 965534 965534 28724305 0 28724305 28170924 0 28170924 0 28170924 1 SEE Science Center Inc 200 Bedford Street Manchester NH 03101 274204522 501(c)(3) 6500 0 Event Sponsorships Palace Theatre Trust 80 Hanover Street Manchester NH 03101 237356019 501(c)(3) 18525 0 Event Sponsorships 2 0 Part I, Line 2: Grants are paid to 501(c)(3) or 501(c)(6) charities, further monitoring of funds is not deemed necessary. X X X X X 0 1 0 Nathan D Saller President & CEO 374046 0 90526 0 7560 0 28526 0 32135 0 532793 0 0 0 William Zafirson SVP/CLO 187443 0 32745 0 54876 0 41543 0 24076 0 340683 0 30000 0 Nancy D Nadeau SVP/CAO 176873 0 30300 0 2368 0 87744 0 13334 0 310619 0 0 0 Jonathan Oglebay SVP/CFO 160224 0 27735 0 790 0 15688 0 32289 0 236726 0 0 0 Jeffrey R Benson Past SVP/COO 173190 0 32390 0 1429 0 9157 0 1718 0 217884 0 0 0 Suzanne Beaubien VP/Retail Services 135344 0 23641 0 26186 0 13718 0 12541 0 211430 0 25000 0 Heather Tancreti VP/Consumer Lending 128498 0 40704 0 264 0 9720 0 29433 0 208619 0 0 0 J Michael Perrella VP/Business Services 138206 0 23933 0 3632 0 14129 0 21220 0 201120 0 0 0 Lori Holmes VP/Marketing 135562 0 24349 0 1863 0 13529 0 23470 0 198773 0 0 0 Part I, Line 4b William Zafirson, Nancy Nadeau and Suzanne Beaubien participated in the 457f plan. William Zafirson received $30,000 and Suzanne Beaubien received $25,000. Form 990, Part VI, Section A, line 6 Entity is a credit union with 26,300 members. Form 990, Part VI, Section A, line 7a The members of BCCU elect members of the board of directors. Form 990, Part VI, Section A, line 7b Entity-wide decision for mergers in which BCCU is the entity being acquired requires membership approval. Form 990, Part VI, Section B, line 11b The Form 990 is presented to supervisory committee for review and approval. It is then provided to the full Board of Directors. Form 990, Part VI, Section B, line 12c Each year every employee and board member is required to review BCCU's Conflict of Interest and Ethics Policy and document any potential conflicts. Our Conflict of Interest clearly identifies a conflict as occurring when an employee is in a position to influence a decision that may result in a personal gain for that employee/board member or a relative as a result of BCCU's business dealings. Covered persons are responsible for disclosing any potential or perceived conflicts of interest. In addition, all BCCU policies are reviewed and approved by the Board of Directors on an annual basis. Form 990, Part VI, Section B, line 15 The compensation package for the President/CEO falls under the direction of BCCU's Personnel Committee, which is made up of individuals from the Board of Directors. Utilizing a combination of a partnership with a third party consultant, industry data, competitive compensation surveys, best practices, and assistance from the Credit Union's human resources executive, the Personnel Committee designs and recommends a compensation package that is competitive and fair. The compensation package for the President/CEO includes such things as a written employment contract, salary, benefits, and bonuses/incentives. Working with a third-party consultant, the Personnel Committee, reviews the compensation package as well as the performance of the President/CEO no less than annually and presents findings and recommendations to the Board for approval. Form 990, Part VI, Section C, line 19 BCCU makes its documents available to the public by request with the exception of financial statements which are posted in each branch lobby. Form 990, Part X, Line 10: Land, Buildings, and Equipment: Section 1.263(a)-3(n) Election: Bellwether Community Credit Union 425 Hooksett Road Manchester, NH 03104 EIN: 02-0196520 Bellwether Community Credit Union is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, Line 8: Prior Year Adjustment: The Credit Union adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost, and off-balance-sheet credit exposures. Results for reporting periods beginning after January 1, 2023 are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable U.S. GAAP. The Credit Union recorded a net decrease to undivided earnings of $54,843 as of January 1, 2023 for the cumulative effect of adopting ASC 326. The transition adjustment includes a $54,479 impact due to an increase in the allowance for credit losses (ACL) and a $364 impact due to an increase in the allowance for credit losses on off-balance sheet credit exposures. Bellwether Insurance Services LLC 425 D W Highway Manchester NH 031042632 Financial Services NH 0 23147 Bellwether Community Credit Union