2025-07-08T08:30:51-05:00 2024-12-31 060903326 WHITTLESEY PC 280 TRUMBULL ST 24TH FL HARTFORD CT 06103 990 2024-01-01 041961180 FREEDOM CREDIT UNION FREE 4137396961 1976 MAIN STREET SPRINGFIELD MA 01103 LEE CRAIG SENIOR VICE PRESIDENT/CFO 4137396961 2025-07-07 1 1 THOMAS GOLDFUSS P01373588 8605223111 2024 2025-03-06 01:10:19Z LEE CRAIG 1976 MAIN STREET SPRINGFIELD MA 01103 39410629 0 X WWW.FREEDOM.COOP X 1922 MA OUR DYNAMIC, SINCERE AND HELPFUL TEAM PROVIDES MEMBERSHIP VALUE TO INDIVIDUALS AND BUSINESSES WHILE MANAGING A STABLE, COMMUNITY-MINDED FINANCIAL INSTITUTION 11 11 156 11 0 0 0 0 28089535 30860026 6399467 6719467 0 0 34489002 37579493 0 0 0 0 10488592 10623545 0 0 0 20005364 24420174 30493956 35043719 3995046 2535774 738359654 733888562 651869684 643790788 86489970 90097774 OUR DYNAMIC, SINCERE AND HELPFUL TEAM PROVIDES MEMBERSHIP VALUE TO INDIVIDUALS AND BUSINESSES WHILE MANAGING A STABLE, COMMUNITY-MINDED FINANCIAL INSTITUTION. 0 0 NOT REQUIRED. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 11078 0 1 156 1 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X LEE CRAIG 4137396961 1976 MAIN STREET SPRINGFIELD MA 01103 DONALD C EMERSON DIRECTOR 5.00 X 3271 0 0 LOUIS G GUILLETTE DIRECTOR 10.00 X X 5235 0 0 JOHN R REIGNER DIRECTOR 5.00 X 1621 0 0 WILLIAM G O'BRIEN DIRECTOR 5.00 X 0 0 0 WILLIAM T CAREY CHAIRPERSON/DIRECTOR 5.00 X X 0 0 0 LAWRENCE F BOULEY DIRECTOR 5.00 X 0 0 0 BRIAN D HARRINGTON VICE CHAIRPERSON/DIRECTOR 5.00 X X 0 0 0 FELIX SANTANIELLO DIRECTOR 5.00 X 691 0 0 DONALD R SENECAL DIRECTOR 5.00 X 0 0 0 WILLIAM FLAHERTY TREASURER/DIRECTOR 5.00 X X 0 0 0 DANIEL REIGNER DIRECTOR 5.00 X 0 0 0 GLENN WELCH PRESIDENT 45.00 X 424382 0 32503 LOUIS SCUNGIO CFO THROUGH 1/12/2024 45.00 X 120027 0 4520 LEE CRAIG CHIEF FINANCIAL OFFICER 45.00 X 172815 0 10587 JEFFREY SMITH VICE PRESIDENT OF LENDING 45.00 X 191422 0 31383 KARA HERMAN VICE PRESIDENT OF RETAIL A 45.00 X 169103 0 37849 DAVID CHASE VICE PRESIDENT OF BUSINESS 45.00 X 172893 0 56425 GINA NOBLIT DIRECTOR OF HUMAN RESOURCE 45.00 X 172949 0 33286 CHERYL PODGORSKI VP OPERATIONS 45.00 X 178021 0 17815 JACK VADNAIS DIRECTOR OF FINANCIAL PLA 45.00 X 112022 0 54281 ALLEN REED INFORMATION SECURITY OFFIC 45.00 X 137472 0 41405 CHARLENE SMOLKOWICZ MANAGER 45.00 X 116864 0 20175 JOHN SANTANIELLO ASSISTANT VICE PRESIDENT 45.00 X 135000 0 15153 JOANNE PAGE MANAGER 45.00 X 115123 0 21609 2228911 0 376991 13 0 1 0 0 MEMBER LOAN INCOME 522100 25547827 25547827 MEMBER SERVICE FEES 522100 2850760 2850760 OTHER INCOME 522100 2461439 2461439 30860026 5988160 5988160 2562443 1831136 731307 731307 731307 37579493 30860026 0 6719467 2228911 6135331 571762 1006062 681479 516693 1241294 1247940 922133 2976904 1359547 3595 283327 11860813 618212 227739 DEBIT/ATM EXPENSES 2210891 LOAN SERVICING 729296 PROVISIONS FOR CREDIT L 110765 MISCELLANEOUS EXPENSE 67109 43916 35043719 2863291 3416054 2541205 33569457 3739516 3838754 14767047 15113604 564512746 543109446 1535668 1333387 17988864 12860178 5263926 5128686 128751966 115410889 14384289 12968285 738359654 733888562 4107143 5608014 89550268 68457130 558212273 569725644 651869684 643790788 X 0 0 0 0 86489970 90097774 86489970 90097774 738359654 733888562 2535774 1072030 0 X 0 0 0 720681 720681 4145320 2435357 1709963 5204839 3333967 1870872 7918024 7090854 827170 5128686 NOW ACCOUNTS 86826574 MONEY MARKET 35174848 SHARE SAVINGS 193494631 TERM CERTIFICATES 229609426 IRA SAVINGS ACCOUNTS 23990341 LEASE LIABILITY 629824 569725644 X 1 1 X X X X X 0 0 0 GLENN WELCH PRESIDENT 357952 0 50150 0 16280 0 16710 0 15793 0 456885 0 0 0 DAVID CHASE VICE PRESIDENT OF BUSINESS 162636 0 8277 0 1980 0 17189 0 39236 0 229318 0 0 0 JEFFREY SMITH VICE PRESIDENT OF LENDING 172412 0 17030 0 1980 0 10597 0 20786 0 222805 0 0 0 KARA HERMAN VICE PRESIDENT OF RETAIL A 152930 0 14910 0 1263 0 23399 0 14450 0 206952 0 0 0 GINA NOBLIT DIRECTOR OF HUMAN RESOURCE 156230 0 15429 0 1290 0 8916 0 24370 0 206235 0 0 0 CHERYL PODGORSKI VP OPERATIONS 155823 0 20883 0 1315 0 15612 0 2203 0 195836 0 0 0 LEE CRAIG CHIEF FINANCIAL OFFICER 171872 0 50 0 893 0 0 0 10587 0 183402 0 0 0 ALLEN REED INFORMATION SECURITY OFFIC 128830 0 5439 0 3203 0 19559 0 21846 0 178877 0 0 0 JACK VADNAIS DIRECTOR OF FINANCIAL PLA 38239 0 73593 0 190 0 7286 0 46995 0 166303 0 0 0 JOHN SANTANIELLO ASSISTANT VICE PRESIDENT 125369 0 8612 0 1019 0 7606 0 7547 0 150153 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - BOARD MEMBERS AND THE PRESIDENT ARE ALLOWED TO BRING A SPOUSE/GUEST WHEN ATTENDING CONFERENCES. THE SPOUSE/GUEST TRAVEL AND MEALS ARE INCLUDED. BARRY F CROSBY FORMER CEO SPLIT DOLLAR LOAN X 4846102 6526696 0 1 1 GLENN WELCH CURRENT CEO SPLIT DOLLAR LOAN X 3804149 4541812 0 1 1 LOUIS SCUNGIO FORMER CFO SPLIT DOLLAR LOAN X 3758850 4045096 0 1 1 15113604 SCHEDULE L, PART II - LOANS TO AND/OR FROM INTERESTED PERSONS THE CREDIT UNION HAS LOANS RECEIVABLE FROM CURRENT AND FORMER OFFICERS WHICH WERE ADVANCED TO PURCHASE LIFE INSURANCE WITH INTEREST CHARGED AT 3.00% AND 2.60% RESPECTIVELY. THE CREDIT UNION ADVANCED THE FULL AMOUNT OF THE PREMIUMS ON THE TWO LIFE INSURANCE POLICIES THAT ARE THE EXCLUSIVE PROPERTY OF THE INSURED. THE LOANS RECEIVABLE ARE SECURED BY COLLATERAL ASSIGNMENT OF THE POLICIES. THE CREDIT UNION IS OWED ITS PREMIUM ADVANCE PLUS INTEREST COMPOUNDED ANNUALLY.SOME OF THE OFFICERS AND DIRECTORS HAVE LOANS OUTSTANDING FROM THE CREDIT UNION. THESE LOANS WERE MADE IN THE ORDINARY COURSE OF BUSINESS OF THE CREDIT UNION ON THE SAME TERMS AS AVAILABLE TO ALL MEMBERS AT THE TIME THE LOANS WERE MADE. SCHEDULE L INSTRUCTIONS INDICATE THAT THESE TYPES OF LOANS ARE NOT REQUIRED TO BE LISTED. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A MEMBERS ONLY ORGANIZATION. IT HAS 31,700 VOTING MEMBERS AT THE END OF THE TAX YEAR. EACH YEAR, AT THE ANNUAL MEETING, THE MEMBERS ELECT THE GOVERNING BOARD AND ALSO VOTE ON ALL AGENDA ITEMS PRESENTED TO THEM THAT REQUIRE A VOTE OF THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION IS A MEMBERS ONLY ORGANIZATION. IT HAS 31,700 VOTING MEMBERS AT THE END OF THE TAX YEAR. EACH YEAR, AT THE ANNUAL MEETING, THE MEMBERS ELECT THE GOVERNING BOARD AND ALSO VOTE ON ALL AGENDA ITEMS PRESENTED TO THEM THAT REQUIRE A VOTE OF THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION IS A MEMBERS ONLY ORGANIZATION. IT HAS 31,700 VOTING MEMBERS AT THE END OF THE TAX YEAR. EACH YEAR, AT THE ANNUAL MEETING, THE MEMBERS ELECT THE GOVERNING BOARD AND ALSO VOTE ON ALL AGENDA ITEMS PRESENTED TO THEM THAT REQUIRE A VOTE OF THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE ACCOUNTANT AND CHIEF FINANCIAL OFFICER. AFTER THEIR APPROVAL, THE FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION EDUCATES ALL STAFF ON THE CONFLICT OF INTEREST POLICY AT THE TIME OF HIRE. THEREFORE, ALL STAFF ARE AWARE OF THE POLICY AND THE CREDIT UNION RELIES ON THE INTEGRITY AND HONESTY OF ITS EMPLOYEES TO ADHERE TO IT. IF THE POLICY IS VIOLATED, CORRECTIVE ACTION IS TAKEN. FORM 990, PART VI, SECTION B, LINE 15 THE MEMBERS OF THE BOARD OF DIRECTORS REVIEW AND APPROVE THE ANNUAL COMPENSATION OF THE CEO/PRESIDENT AT ITS BOARD MEETING IN DECEMBER. IN DETERMINING THE CEO/PRESIDENT'S COMPENSATION, THE MEMBERS CONSIDER THE COMPENSATION PAID TO OTHER CHIEF EXECUTIVE OFFICERS AT COMPARABLE BUSINESS ORGANIZATIONS. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF GOVERNING DOCUMENTS, COI POLICY AND FINANCIAL STATEMENTS: THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST OR THROUGH VARIOUS WEBSITES THAT ARE OPEN TO THE GENERAL PUBLIC. FREEDOM INSURANCE SERVICES LLC 1976 MAIN STREET SPRINGFIELD MA 01103 273459243 INSURANCE MA FREEDOM CREDIT UNION