2025-04-22T10:49:33-05:00 2024-12-31 042513210 GERALD T REILLY & COMPANY 424 ADAMS STREET MILTON MA 02186 990 2024-01-01 042393313 HOMEFIELD CREDIT UNION HOME 5088395493 86 WORCESTER STREET NORTH GRAFTON MA 01536 JULIE DELONG TRIPP COO 5088395493 2025-04-03 1 0 JAYME F MOORE CPA P01348807 6176968900 2025-04-03 2024 2025-03-06 01:10:19Z KARL MOISAN 86 WORCESTER STREET NORTH GRAFTON MA 01536 8601896 0 X WWW.HOMEFIELDCU.COM X 1966 MA THIS ORGANIZATION IS A COMMUNITY BASED CREDIT UNION ESTABLISHED TO SERVE ITS MEMBERS. 11 11 42 0 17568 0 0 0 6320587 7738753 901574 863143 0 0 7222161 8601896 0 0 0 0 2782179 2828650 0 0 0 4605675 5683753 7387854 8512403 -165693 89493 178817167 176157011 165610518 163220088 13206649 12936923 TO PROVIDE A LIFETIME OF PERSONAL SERVICE THROUGH INNOVATIVE PRODUCTS AND QUALITY SERVICES, DELIVERED BY A TEAM OF DEDICATED PROFESSIONALS TO MEET THE FULL RANGE OF MEMBER NEEDS. 0 0 TO PROVIDE FINANCING FOR HOME AND BUSINESS LOANS, BOTH PURCHASE AND REFINANCE TRANSACTIONS. AS OF 12/31/24 THERE WERE 796 OF THESE LOANS ON THE BALANCE SHEET OF THE CREDIT UNION. TO PROVIDE DEPOSIT PRODUCTS FOR DAILY FINANCIAL NEEDS AS WELL AS INVESTMENT ALTERNATIVES. PRODUCTS INCLUDE CHECKING AND SAVING ACCOUNTS, CERTIFICATES OF DEPOSIT, IRA AND MONEY MARKET ACCOUNTS. MEMBERS HAVE A TOTAL OF 10,438 DEPOSIT ACCOUNTS WITH THE CREDIT UNION AS OF 12/31/24. TO PROVIDE CONSUMER LOANS BOTH UNSECURED AND SECURED BY AUTOMOBILES, RV'S, ETC. AS OF 12/31/24 THERE WERE 4,506 OF THESE LOANS ON THE BALANCE SHEET OF THE CREDIT UNION. 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 1 0 0 1 0 0 0 0 0 0 0 0 0 1 2464 0 1 42 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X JULIE DELONG TRIPP 5088395493 86 WORCESTER STREET NORTH GRAFTON MA 01536 ANDREW NELSON CHAIRMAN 2.00 X X 0 0 0 PETER CREPEAULT VICE CHAIRMAN 1.00 X X 0 0 0 BROOKE MELIA CLERK 1.00 X X 0 0 0 ALBERT BONOFIGLIO DIRECTOR 1.00 X 0 0 0 THOMAS GUILFOYLE DIRECTOR 1.00 X 0 0 0 SARGON HANNA DIRECTOR 1.00 X 0 0 0 DREW MCGRADY DIRECTOR 1.00 X 0 0 0 CHARLES PAVOLIS DIRECTOR 1.00 X 0 0 0 CATHERINE PISACANE DIRECTOR 1.00 X 0 0 0 JAMES SULLIVAN DIRECTOR 1.00 X 0 0 0 PETER M ZONA DIRECTOR 1.00 X 0 0 0 KARL MOISAN PRESIDENT & CEO 40.00 X 214540 0 13078 JULIE DELONG TRIPP EVP, CFO & COO 40.00 X 190771 0 19248 KELLY BENOIT SVP, COMPLIANCE & TRAINING 40.00 X 103541 0 21623 508852 0 53949 3 0 1 0 DOUG TRIPP DBA NEIGHBORHOOD PROPERTY 134 MILLBURY STREET GRAFTON MA 015191018 MAINTENANCE, LANDSCAPING, PLOWING 136808 1 INTEREST ON LOANS 522100 6981656 6981656 OTHER INCOME 522100 447721 447721 SERVICE CHARGES 522100 309376 291808 17568 7738753 863143 863143 8601896 7721185 17568 863143 562801 1679014 63841 341963 181031 59004 4732 126305 121420 166738 599346 452621 270203 15066 7217 3232452 212652 45990 PROVISION FOR CREDIT LO 245588 LOAN SERVICING EXPENSE 97484 OTHER PROVISIONS FOR LO 26935 8512403 1977402 892019 1692535 2824862 474021 564414 4794175 4847219 144299005 144349907 266271 236380 3541913 1875539 1819960 1666374 18589967 16132799 2824712 2838934 2079119 1804103 178817167 176157011 1535763 1169835 22145000 23975000 141929755 138075253 165610518 163220088 X 0 0 0 0 13206649 12936923 13206649 12936923 178817167 176157011 89493 -359219 0 X 0 1 X 1 0 461848 461848 1878168 1025479 852689 234439 96124 138315 844751 668985 175766 122707 84951 37756 1666374 MEMBER SHARE DEPOSITS 137666485 MORTGAGE ESCROW LIABILITY 408768 138075253 8601896 0 8601896 0 8601896 8512403 0 8512403 0 8512403 X X 0 1 0 KARL MOISAN PRESIDENT & CEO 214540 0 0 0 0 0 650 0 12428 0 227618 0 0 0 JULIE DELONG TRIPP EVP, CFO & COO 190771 0 0 0 0 0 6820 0 12428 0 210019 0 0 0 PART I, LINE 4B THE FORMER PRESIDENT & CHIEF EXECUTIVE OFFICER AND THE CURRENT PRESIDENT & CHIEF EXECUTIVE OFFICER WERE EACH PROVIDED WITH A SERP WHICH ARE FUNDED BY LIFE INSURANCE. THE BALANCE OF THE LOANS FROM THE CREDIT UNION TO THE EXECUTIVES AS OF 12/31/24 WAS $4,847,219. LLOYD L HAMM JR FORMER PRESIDENT & CHIEF EXECUTIVE OFFICER SERP LOAN X 1500080 1937603 0 1 1 KARL MOISAN CURRENT PRESIDENT & CHIEF EXECUTIVE OFFICER SERP LOAN X 2808000 2909616 0 1 1 4847219 DOUG TRIPP DBA NEIGHBORHOOD PROPER SPOUSE OF CHIEF OPERATING OFFICER 136808 MAINTENANCE, LANDSCAPING AND PLOWING 0 FORM 990, PART VI, SECTION A, LINE 6 CREDIT UNION MEMBERS HAVE THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY. CREDIT UNION MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF DIVIDENDS ON DEPOSIT/SHARE ACCOUNTS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBER'S OF THE CREDIT UNION'S GOVERNING BODY WHETHER PERIODICALLY AS VACANCIES ARISE OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF THE MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B ALL INFORMATION IN THE 990 IS REVIEWED BY THE CFO FOR ACCURACY. FORM 990 IS THEN REVIEWED WITH THE CEO PRIOR TO BEING DISTRIBUTED TO THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. AFTER DISTRIBUTION TO THE AUDIT COMMITTEE THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C UPON HIRE, EACH EMPLOYEE RECEIVES A COPY OF THE EMPLOYEE HANDBOOK WHICH CONTAINS THE CREDIT UNION'S CONFLICT OF INTEREST AND OTHER POLICIES. THE POLICIES ARE REVIEWED WITH THE NEW HIRE AND THE EMPLOYEE SIGNS AN ACKNOWLEDGEMENT OF RECEIPT AND UNDERSTANDING OF THE HANDBOOK AND THE POLICIES CONTAINED THEREIN. MANAGEMENT IS VIGILANT IN OBSERVING THE POTENTIAL CONFLICTS OF INTEREST AND ADDRESSES ANY SITUATION THAT MAY TURN INTO A POTENTIONAL CONFLICT. THE BOARD OF DIRECTORS IS PROVIDED WITH THE DIRECTOR POLICY ON CONFLICTS OF INTEREST ON AN ANNUAL BASIS. EACH DIRECTOR IS REQUIRED TO REVIEW THE POLICY AND RETURN A SIGNED ACKNOWLEDGEMENT THAT THEY HAVE READ AND UNDERSTOOD THE POLICY AND AGREE TO COMPLY WITH ITS REQUIREMENTS. FORM 990, PART VI, SECTION B, LINE 15 EVERY EMPLOYEE ROLE IS GRADED AND SCORED USING A STRUCTURED COMPENSATION SYSTEM CALLED COMPEASE. THE SYSTEM IS A PRODUCT OF HRN SOLUTIONS. EACH POSITION GRADE HAS A CORRESPONDING SALARY RANGE. THE HR DIRECTOR ALSO SURVEYS LOCAL FINANCIAL INSTITUTIONS FROM TIME TO TIME TO CONFIRM THAT THE CREDIT UNION'S COMPENSATION STRUCTURE IS IN LINE WITH COMPARABLE POSITIONS IN THE LOCAL FINANCIAL INSTITUTIONS INDUSTRY. IN THE CASE OF THE CEO, AN HR PROFESSIONAL WAS CONSULTED TO ADVISE THE BOARD OF DIRECTORS ON COMPENSATION AND BENEFIT PACKAGES FOR CEO'S OF FINANCIAL INSTITUTIONS OF COMPARABLE SIZE TO THE CREDIT UNION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF THE BRANCH OFFICE. FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE INTERNET OF OUR FEDERAL REGULATOR - THE NATIONAL CREDIT UNION ADMINISTRATION. GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST.