2025-05-06T10:17:11-04:00 2024-12-31 990 2024-01-01 061029943 ALBRIGHT CREDIT UNION % Heidi Sztanko ALBR 2037964500 14 Research Dr Bethel CT 06801 HEIDI SZTANKO Vice President Finance & IT 2037964500 2025-05-02 true 2024 2025-03-06 01:10:19Z X Sabrina DeFazio 14 Research Dr Bethel CT 06801 4107488 false X www.albrightcu.com X 1980 CT SVFCUs mission is to serve our members as the best-in-class provider of consumer financial services. We will fulfill our mission by placing a high value on customer satisfaction, quality service, full service delivery and continued credit union stability. 9 8 14 9 23613 0 0 2175461 3131500 582749 975988 0 2758210 4107488 0 0 1239833 1396102 0 0 1450344 1955727 2690177 3351829 68033 755659 74341842 70316879 67400484 62619862 6941358 7697017 SVFCUs mission is to serve our members as the best-in-class provider of consumer financial services. We will fulfill our mission by placing a high value on customer satisfaction, quality service, full service delivery and continued credit union stability. false 3206251 4083875 Provided Credit Union Members with traditional financial services to meet their financial needs. These include: Loans: Home Equity, Second Mortgage, Auto and personal loans along with Visa credit cards. This resulted in overall loans outstanding (net of loan loss provision) as of December 31, 2017 of $18614558. Savings: A choice of savings options including CDs and money market accounts, regular share, checking and club savings options. Convience: ATM access and home banking capabilities. 19866 23613 Provide tangentle financial services for the convenience of SVFCU members. This includes access to reduced insurance premiums, utility discounts, movie ticket discounts and other offerings. 3226117 false false false false false false false false true false true false true false false false false 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 true 1258 0 true 14 true true true false false false false false false false X 9 8 false false false false true true true true true false true true false false false true true true false CT X X Heidi Sztanko 2037964500 14 Research Dr Bethel CT 06801 X Andrew Bard Treasurer 4.00 0.00 X 0 0 0 Maciej Milewski Chairperson 4.00 0.00 X 0 0 0 RuthAnne Salvatore Director 4.00 0.00 X 0 0 0 Leo White Director 4.00 0.00 X 0 0 0 Chris DePalma Secretary 3.00 0.00 X 0 0 0 Frederick Karrat Director 4.00 0.00 X 0 0 0 Gina Ramos Director 4.00 0.00 X 0 0 0 Alyssa Angurio Director 4.00 0.00 X 0 0 0 Heidi Sztanko Vice President Finance & IT 50.00 0.00 X 0 0 0 Sabrina DeFazio President 50.00 0.00 X X 0 0 0 Lisa Arconti Vice President Member Care 0.00 0.00 X 0 0 0 0 0 0 0 false false false X Interest on Loans 522291 2604170 2604170 Visa Interchange Income 522291 297455 297455 In house Fee income 522291 206262 206262 Insurance Commissions 524298 23613 23613 3131500 819949 819949 156039 156039 156039 156039 0 4107488 4083875 23613 0 X 380361 285271 95090 627519 627519 18943 17356 1587 268227 246421 21806 101052 93823 7229 10812 10812 36483 36483 74589 74589 184074 184074 70261 70261 168334 168334 114730 114730 660 660 2467 2467 407849 407849 86149 86149 40860 40860 Provision for loan losses 99857 99857 Loan Servicing costs 96055 96055 Member Services 535808 535808 26739 26739 3351829 3226117 125712 0 532857 383209 915938 1913998 302881 752592 44527295 40552638 112789 78259 1242356 733929 420356 508427 25851934 24705359 1677792 1422397 74341842 70316879 1448052 285550 65952432 62334312 67400484 62619862 X 647698 647698 6293660 7049319 6941358 7697017 74341842 70316879 755659 0 X false false false 334788 230542 104246 907568 503387 404181 508427 CERTIFICATES OF DEPOSIT CD 1150000 C HELD TO MATURITY DEBT SECURITIES 23250378 C ALLOYA PERMANENT CAPITAL 100000 C ALL OTHER INVESTMENTS 204981 C 24705359 IRA accounts 2655398 Share Certificates 5086704 Share Drafts 19032889 Regular Shares 29612409 Money Markets 4704098 Club accounts 1242814 62334312 Ruthanne Salvatore Director Overdraft Line of Cr X 3000 false true true Chris DePalma Director Auto Loan X 29600 14496 false false true Chris Depalma Director Second Mortgage X 25000 18771 false false true Lisa Arconti Officer Auto Loan X 14300 5614 false true true Lisa Arconti Officer Credit Card X 6000 2401 false true true Gina Ramos Director Auto Loan X 44630 37187 false true true Gina Ramos Director Home Equity Loan X 198100 171589 false false true Heidi Sztanko Officer Overdraft line of cr X 1000 false false true Michelle DiMauro Director Home Equity X 150000 133969 false false true Michelle DiMauro Director First Mortgage X 195696 188044 false false true Alyssa Angurio Director First Mortgage X 185000 175227 false false true Chris DePalma Director Credit Card X 10000 5294 false false true Chris DePalma Director Overdraft Line of Cr X 2000 false false true 752592 Members or stockholder classes and rights Part VI line 6 All Credit Union account holders are considered members by virtue of having at least $25 in a share (savings) account. Member election for additional members Part VI line 7a Each year at the Credit Unions annual meeting, all members are invited to participate in the election of Board members and director positions up for election. Participation includes nominating priviledges and voting rights. Governing body decisions Part VI line 7b As per answer to line 7a above, members vote determines fiduciary responsibilities of Credit union Directors and Board members. Form 990 governing body review Part VI line 11 Form 990 provided upon request CEO executive director top management comp Part VI line 15a Full Board determines CEO compensation Other officer or key employee compensation Part VI line 15b Full Board determines officer compensation Governing documents etc available to public Part VI line 19 Monthly financials posted in main branch lobby. Also available upon request and on the NCUA website. Statement of Revenue Part VIII REVENUE AND EXPENSES ARE HIGHER THAN PRIOR YEARS DUE TO THE MERGER OF WESTERN CONNECTICUT FEDERAL CREDIT UNION (WCFCU) INTO SOUNDVIEW FINANCIAL CREDIT UNION (SVFCU) ON JULY 1, 2023. THE PRIOR YEAR RETURN ENCOMPASSED 6 MONTHS OF WCFCU INCOME AND EXPENSES WHILE THE CURRECT YEAR RETURN INCLUDES A FULL YEAR IN FORM 990 AND 990-T FOR ALBRIGHT CU (NAME CHANGE IN 2024). List of other fees for services expenses Part IX line 11g Amount includes all outside services from various vendors including credit and debit card servicing, legal services, collection services among others.