2024-10-21T16:22:35-05:00 2023-12-31 042689883 WOLF & COMPANY PC 255 STATE STREET BOSTON MA 02109 990 2023-01-01 020222930 LIGHTHOUSE FEDERAL CREDIT UNION F/K/A NORTHEAST CREDIT UNION LIGH 6034361847 PO BOX 1240 PORTSMOUTH NH 038021240 CHRISTOPHER G PARKER PRESIDENT & CEO 6034361847 2024-10-21 1 0 KAREN S NG P01067482 6174399700 2024-10-18 2023 2024-10-15 13:58:12Z X CHRISTOPHER G PARKER PO BOX 1240 PORTSMOUTH NH 038021240 138899380 0 X WWW.NECU.ORG X 1936 NH PROVIDE CREDIT UNION SERVICES TO ITS MEMBERS. 9 9 528 16 179895 0 0 0 75602259 95817814 7914846 10091280 0 0 83517105 105909094 40000 1415985 0 0 31912415 39759987 0 0 0 38704300 51044550 70656715 92220522 12860390 13688572 1893357956 1947452259 1723859902 1754991520 169498054 192460739 PROVIDE CREDIT UNION SERVICES TO ITS MEMBERS 0 0 CONSISTENT WITH THE PRINCIPLES, PHILOSOPHY AND VALUES OF THE CREDIT UNION AND VALUES OF THE CREDIT UNION MOVEMENTS, NORTHEAST CREDIT UNION PROVIDES SAFE, HIGH QUALITY FINANCIAL SERVICES TO MEET THE NEEDS OF OUR MEMBERS OWNERS, ENHANCING THEIR FINANCIALS WELL BEING WHILE MAINTAINING THE STRENGTH OF THE CREDIT UNION. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 23462 1 1 528 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 X NEIL GORDON 6035991707 PO BOSTON 1240 PORTSMOUTH NH 038021240 BRIAN GIBB DIRECTOR 1.00 X 0 0 0 THERESA PALUMBO SECRETARY 1.00 X X 0 0 0 TERRANCE BEERS VICE CHARIMAN 1.00 X X 0 0 0 DAVID PACIENCIA DIRECTOR 1.00 X 0 0 0 REGIS SAUCIER DIRECTOR 1.00 X 0 0 0 JULIE CUTTING-KELLY DIRECTOR 1.00 X 0 0 0 JUSTIN GAMESTER DIRECTOR 1.00 X 0 0 0 RAYMOND BALD CHAIRMAN 1.00 X X 0 0 0 VICTOR COLLININO TREASURER 1.00 X X 0 0 0 CHRISTOPHER G PARKER PRESIDENT/CEO 40.00 X 926083 0 41458 ANDREA PRUNA SVP CGO 40.00 X 346084 0 42235 TRACI TENGGREN SVP CHRO 40.00 X 403530 0 33766 NEIL GORDON SVP CFO 40.00 X 522581 0 16688 KENNETH LAWRENCE SVP CIO 40.00 X 465963 0 14034 KELLY MCGRATH SVP CRO 40.00 X 496533 0 32179 LEE P SCHAFER SVP COO/GENERAL COUNSEL 40.00 X 536936 0 34982 SEAN MCNAIR SVP CME 40.00 X 501572 0 34090 RICHARD LIPARI VP, OPERATIONS AND BUSINESS INTELLIGENCE & AU 40.00 X 226449 0 28170 GINA MARIE JONES VP PRODUCT 40.00 X 197160 0 20382 CHRISTINA J ZAUDKE VP BRANCH STRATEGY AND INNOVATION 40.00 X 227790 0 31061 JOHN L GALLAGHER VP INTERNAL AUDIT 40.00 X 220660 0 24141 DOUGLAS SITES VP CONSUMER & INDIRECT LENDING 40.00 X 182848 0 25496 BONNIE J WARD ENDED 042423 VP IT 40.00 X 226567 0 25566 RYAN FRANCIS GRACE VP BRAND 40.00 X 184488 0 11659 CHRISTOPHER SAUCIER VP MORTGAGE LENDING AND PAYMENT RESOLUTION 40.00 X 219251 0 15449 DANIEL RAPOSA EXECUTIVE DIRECTOR OF FOUNDATION 40.00 X 189748 0 9485 SUZANNE R LADD VP CONSUMER DIRECT LENDING 40.00 X 216931 0 24518 KATHALEEN P HALL-GRIGALUS VP BUSINESS DEVELOPMENT 40.00 X 189190 0 14352 STEPHANIE KOCH VP RISK MANAGEMENT 40.00 X 179037 0 16102 DAVID AUTHUR PERRON AVP IT 40.00 X 145623 0 18799 JEANNE WARD AV PAYMENT RESOLUTION 40.00 X 146241 0 19613 SEAN TIPTON AVP MEMBER CARE 40.00 X 146700 0 23241 ARTHUR WILLIAM MACGREGOR SALES REP 40.00 X 231962 0 31400 JACQUELYN MICHELE SNOW AVP DATA ANALYTICS 40.00 X 178019 0 14842 7507946 0 603708 58 0 1 0 LENDERS PROTECTION LLC 1501 S MOPAC EXPRESSWAY SUITE 450 AUSTIN TX 78746 FINANCING 1128856 CAROUSEL INDUSTRIES OF NORTH AMERICA LL 659 SOUTH COUNTY TRAIL EXETER RI 02822 INFORMATION TECHNOLOGY 495115 CUSTOMIZED SERVICE CONCEPTS LLC 51 OZICK DRIVE SUIT 101 DURHAM CT 06422 SALES 417946 QUALTRICS LLC 333 W RIVER PARK DRIVE PROVO UT 84604 SOFTWARE 247247 PEMBERTON & ASSOCIATES 10 FOREST FALLS DR SUITE 1 YARMOUTH ME 04096 RECRUITING SERVICES 205001 16 LOAN INCOME 522100 73285554 73285554 OTHER INCOME 522100 15346130 15166235 179895 TOTAL FEES INCOME 522100 7186130 7186130 95817814 8471719 8471719 34578206 31641 32990286 0 1587920 31641 1619561 1619561 105909094 95637919 179895 10091280 1377485 38500 4199283 25841095 2424270 5046016 2249323 109357 203984 8400 1785080 2130996 6950576 3278310 3020991 126987 1062004 11747692 2783092 348825 PROVISIONS FOR LOSS 6207895 LOAN SERVICING EXPENSES 4550447 PROCESSING FEES 4056499 MISC OPERATING EXPENSES 1326856 1346559 92220522 99169532 51424575 24029321 24558054 1511002696 1615369469 3976823 4656280 65311843 26149324 34567176 39162519 120533172 95597065 91611832 103356513 8467404 13327784 1893357956 1947452259 10931677 19237012 4111049 3005128 55411999 117907443 1653405177 1614841937 1723859902 1754991520 X 0 0 0 0 169498054 192460739 169498054 192460739 1893357956 1947452259 X 13688572 7634372 1639741 X X 0 1 X 1 0 0 1 X 7575594 7575594 37433210 9494823 27938387 1631396 1150453 480943 18671643 15504048 3167595 39162519 INVESTMENT IN CO-OP OCEAN 20000 C LPL FINANCIAL STOCK 20610 C OCTANT BUSINESS SERVICES 70500 C CUSO CUDL 800000 C MEMBER SHARES IN LEAGUE CENTRAL 1174088 C CUSO MORTGAGE 1221079 C FEDERAL HOME LOAN BANK STOCK 3513200 C CERTIFICATES OF DEPOSIT 9871000 C NCUSIF DEPOSIT 16091426 C OTHER - SHARES AND DEPOSITS AT CU CORP 70574610 C 103356513 MEMBER SHARES 1611644128 OTHER LIABILITIES 3197809 1614841937 X PART IV, LINE 2B: ESCROW ACCOUNT FOR RESIDENTIAL MORTGAGE LOANS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT UNDER INTERNAL REVENUE CODE 501(C)(14) FROM FEDERAL AND STATE INCOME TAXES. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR THE RESULT OF OPERATIONS. THE CREDIT UNION'S 2020 THROUGH 2023 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 FAIR TIDE 15 STATE ROAD KITTERY ME 03904 010525140 501(C)3 10000 0 FMV DONATION WAYPOINT 464 CHESTNUT ST MANCHESTER NH 03101 020222164 501(C)3 10000 0 FMV DONATION CHAMBER COLLABORATIVE OF PORTSMOUTH 500 MARKET ST 16A PORTSMOUTH NH 03801 020480365 501(C)6 10000 0 FMV DONATION HANOVER CONSUMER COOPERATIVE SOCIETY INC 51 S PARK ST HANOVER NH 03755 131837418 501(C)3 50000 0 FMV DONATION CROSS ROADS HOUSE 600 LAFAYETTE ROAD PORTSMOUTH NH 03801 222549963 501(C)3 10000 0 FMV DONATION FAMILIES IN TRANSITION INC PO BOX 15 WEST MEMPHIS AR 72303 710793681 501(C)3 6000 0 FMV DONATION TOWN OF KITTERY MAINE 200 ROGERS RD KITTERY ME 03904 6000 0 FMV DONATION NORTHEAST CREDIT UNION FOUNDATION 100 BORTHWICK AVENUE PORTSMOUTH NH 03801 832716428 501(C)3 1200000 0 FMV DONATION DOWNTOWN WESTBROOK COALITION 752 MAIN STREET WESTBROOK ME 04092 814641837 501(C)3 20000 0 FMV DONATION CITY OF PORTSMOUTH 1 JUNKINS AVENUE PORTSMOUTH NH 03801 10000 0 FMV DONATION 7 3 COLLEGE SCHOLARSHIP 18 38500 FORM 990, SCHEDULE I, PART III (B) THE ORGANIZATION PROVIDED SCHOLARSHIP ASSISTANCE TO 18 INDIVIDUAL STUDENTS IN 2023. X 1 1 X X 1 0 0 CHRISTOPHER G PARKER PRESIDENT/CEO 625295 0 300300 0 488 0 34868 0 6590 0 967541 0 0 0 LEE P SCHAFER SVP COO/GENERAL COUNSEL 292009 0 73320 0 171607 0 33752 0 1230 0 571918 0 0 0 NEIL GORDON SVP CFO 296154 0 41173 0 185254 0 12354 0 4334 0 539269 0 0 0 SEAN MCNAIR SVP CME 289326 0 81000 0 131246 0 34012 0 78 0 535662 0 0 0 KELLY MCGRATH SVP CRO 266661 0 74930 0 154942 0 30186 0 1993 0 528712 0 0 0 KENNETH LAWRENCE SVP CIO 290000 0 100 0 175863 0 9993 0 4041 0 479997 0 0 0 TRACI TENGGREN SVP CHRO 230539 0 48100 0 124891 0 27762 0 6004 0 437296 0 0 0 ANDREA PRUNA SVP CGO 267839 0 78245 0 0 0 35876 0 6359 0 388319 0 0 0 ARTHUR WILLIAM MACGREGOR SALES REP 50507 0 181455 0 0 0 26952 0 4448 0 263362 0 0 0 CHRISTINA J ZAUDKE VP BRANCH STRATEGY AND INNOVATION 190695 0 37095 0 0 0 24471 0 6590 0 258851 0 0 0 RICHARD LIPARI VP, OPERATIONS AND BUSINESS INTELLIG 190586 0 35863 0 0 0 18338 0 9832 0 254619 0 0 0 BONNIE J WARD ENDED 042423 VP IT 83360 0 37154 0 106053 0 20472 0 5094 0 252133 0 0 0 JOHN L GALLAGHER VP INTERNAL AUDIT 200198 0 20462 0 0 0 17624 0 6517 0 244801 0 0 0 SUZANNE R LADD VP CONSUMER DIRECT LENDING 183641 0 33290 0 0 0 22523 0 1995 0 241449 0 0 0 CHRISTOPHER SAUCIER VP MORTGAGE LENDING AND PAYMENT RESO 184345 0 30551 0 4355 0 11649 0 3800 0 234700 0 0 0 GINA MARIE JONES VP PRODUCT 185064 0 12096 0 0 0 13792 0 6590 0 217542 0 0 0 DOUGLAS SITES VP CONSUMER & INDIRECT LENDING 154078 0 28770 0 0 0 19137 0 6359 0 208344 0 0 0 KATHALEEN P HALL-GRIGALUS VP BUSINESS DEVELOPMENT 173387 0 15231 0 572 0 13644 0 708 0 203542 0 0 0 DANIEL RAPOSA EXECUTIVE DIRECTOR OF FOUNDATION 189748 0 0 0 0 0 7231 0 2254 0 199233 0 0 0 RYAN FRANCIS GRACE VP BRAND 174488 0 10000 0 0 0 6923 0 4736 0 196147 0 0 0 STEPHANIE KOCH VP RISK MANAGEMENT 167817 0 10868 0 352 0 16102 0 0 0 195139 0 0 0 JACQUELYN MICHELE SNOW AVP DATA ANALYTICS 167508 0 9538 0 973 0 14842 0 0 0 192861 0 0 0 SEAN TIPTON AVP MEMBER CARE 133758 0 12942 0 0 0 16881 0 6360 0 169941 0 0 0 JEANNE WARD AV PAYMENT RESOLUTION 128656 0 13320 0 4265 0 16762 0 2851 0 165854 0 0 0 DAVID AUTHUR PERRON AVP IT 55385 0 15338 0 74900 0 15324 0 3475 0 164422 0 0 0 PART I, LINE 4A DAVID ARTHUR PERRON RECEIVED $80,031 SEVERANCE PAYMENT IN 2023. BONNIE WARD RECEIVED $109,652 OF SEVERANCE PAYMENT IN 2023. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERS HAVE THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B ANNUAL ELECTIONS OF THE BOARD DIECTORS ARE SUBJECT TO MEMBERS VOTING AT THE ANNUAL MEETING FORM 990, PART VI, SECTION B, LINE 11B VP/CONTROLLER IS RESPONSIBLE FOR THE OVERSIGHT FOR THE COMPLETION OF THE 990 WHICH IS THEN FORWARDED ONTO THE SVP/CFO AND PRESIDENT FOR REVIEW AND THEN BROUGHT TO THE BOARD FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C REQUIRES ANNUAL SIGNATURES FROM THE BOARD OF DIRECTORS ON OUR CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 WE USE AN OUTSIDE FIRM TO MONITOR PAY LEVELS WITH SIMILAR JOB TITLES AT THE CREDIT UNION. THE NAME OF THE OUTSIDE COMPANY USED IS COMPEASE. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINACIALS ARE POSTED IN ALL BRANCH LOBBIES, AN THE ANNAUL MEETING IS OPEN TO ALL MEMBERS FORM 990, PART XI, LINE 9: CHANGE OF ACCOUNTING METHOD 1,469,795. PRIOR ADJUSTMENT TO NET ASSETS 169,946. FORM 990, PART IV, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. NORTHEAST CREDIT UNION FOUNDATION 100 BORTHWICK AVENUE PORTSMOUTH NH 03801 832716428 GRANTMAKING FOUNDATION NH 501(C)(3) PF NORTHEAST CREDIT UNION 1 OCTANT BUSINESS SERVICES 255 GREAT ROAD PO BOX 1530 LITTLETON MA 014604530 201719458 PROVIDES BUSINESS LENDING SUPPORT MA N/A RELATED 37300 242412 0 0 0.12500 BORTHWICK ASSOCIATES PO BOX 269 PORTSMOUTH NH 03801 020385845 INSURANCE & INVESTMENTS NH NORTHEAST CREDIT UNION C 25002 186201 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NORTHEAST CREDIT UNION FOUNDATION B 1200000 BOARD APPROVED CONTRIBUTION