Nonprofit · EIN 04-2023790
SOUTHBRIDGE CREDIT UNION
Tax-exempt · SOUTHBRIDGE, MA 01550
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $13,160,561 | $12,155,307 | $1,005,254 | $236,321,866 | $211,146,509 | $25,175,357 |
| December 31, 2024 | 990 | $11,878,282 | $11,430,592 | $447,690 | $222,471,452 | $198,688,494 | $23,782,958 |
| December 31, 2023 | 990 | $10,589,215 | $10,331,619 | $257,596 | $213,066,598 | $190,233,381 | $22,833,217 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $10,402,784
- Investment income
- $1,541,982
- Net rental income
- $72,791
- Net gain from sales of assets
- $26,687
- Other revenue
- $1,215,795
Expenses
- Grants and similar amounts paid
- $136,827
- Compensation of officers, directors and key employees
- $595,191
- Other salaries and wages
- $2,147,897
- Salaries, compensation and benefits (total)
- $3,967,663
- Professional fundraising fees
- $0
- Legal fees
- $10,453
- Accounting fees
- $175,151
- Occupancy
- $885,411
- Travel
- $14,085
- Depreciation
- $549,788
Balance sheet and other
- Total assets, start of year
- $222,471,452
- Total assets, end of year
- $236,321,866
- Total liabilities, end of year
- $211,146,509
- Net assets, end of year
- $25,175,357
- Land, buildings and equipment
- $5,727,285
- Publicly traded securities
- $28,235,258
- Gross receipts
- $13,251,344
- Employees
- 48
- Volunteers
- 11
- Year formed
- 1938
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JEFFREY CANNIFF | CFO/TREASURER Officer | 40 | $309,055 | $24,272 |
| KATHERINE R THEODOSS | PRESIDENT/ CEO Officer | 40 | $274,136 | $47,869 |
| LYNN MERO | VP OF CONSUMER LENDING Highest-paid employee | 40 | $133,449 | $28,304 |
| JO-ANN SANTELLI | VP OF COMMERCIAL LOANS Highest-paid employee | 40 | $129,517 | $29,004 |
| KAREN BROUSSEAU | SVP OF RETAIL OPERATIONS Highest-paid employee | 40 | $139,367 | $13,608 |
| MARIA GARCIA-TORRES | SVP OF ADMINISTRATION Highest-paid employee | 40 | $137,607 | $13,078 |
| PHIL CYR | BOARD CHAIR/DIRECTOR Trustee or director | 3 | $12,000 | $0 |
| JAMES KEYES | 1ST VICE CHAIR/DIRECTOR Trustee or director | 2 | $0 | $0 |
| MICHELLE M ANDERSON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MADALINE I BONADEIES | DIRECTOR Trustee or director | 2 | $0 | $0 |
| BENJAMIN TULLY | 2ND VICE CHAIR/DIRECTOR Trustee or director | 2 | $0 | $0 |
| WILLIAM TRIFONE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JOSE DINGAI | DIRECTOR Trustee or director | 2 | $0 | $0 |
| AMY HOWARD | DIRECTOR Trustee or director | 2 | $0 | $0 |
| REBECCA BRUSO | DIRECTOR (ENDED 03/2025) Trustee or director | 2 | $0 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| AMANDA BELDING | DIRECTOR Trustee or director | 2 | $0 |
| NICHOLAS CANTARA | DIRECTOR (AS OF 06/2025) Trustee or director | 2 | $0 |
| GARY FONTAINE | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended December 31, 2024: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Katherine R Theodoss | President/CEO Officer | 40 | $270,406 | $47,573 |
| Jeffrey Canniff | CFO/Treasurer Officer | 40 | $198,644 | $18,907 |
| Jo-Ann Santelli | VP of Commercial Loans Highest-paid employee | 40 | $119,712 | $27,856 |
| Karen Brousseau | SVP of Retail Operations Highest-paid employee | 40 | $128,741 | $16,412 |
| LYNN MERO | VP OF CONSUMER LENDING Highest-paid employee | 40 | $121,111 | $20,294 |
| Maria Garcia-Torres | SVP of Administration Highest-paid employee | 40 | $127,471 | $12,190 |
| Phil Cyr | Chairperson of the Board Trustee or director | 4 | $11,000 | $0 |
| John A Lafleche | Director (Resigned 11/2024) Trustee or director | 3 | $1,000 | $0 |
| James Keyes | DIRECTOR Trustee or director | 40 | $0 | $0 |
| Michelle M Anderson | dIRECTOR Trustee or director | 2 | $0 | $0 |
| MADALINE I BONADEIES | Director Trustee or director | 2 | $0 | $0 |
| BENJAMIN TULLY | DiRECTOR Trustee or director | 2 | $0 | $0 |
| William Trifone | Director Trustee or director | 2 | $0 | $0 |
| Robert Caprera | DiRECTOR Trustee or director | 2 | $0 | $0 |
| Jose Dingai | DireCTOR Trustee or director | 2 | $0 | $0 |
| Amy Howard | Director Trustee or director | 2 | $0 | $0 |
| Rebecca Bruso | DireCTOR Trustee or director | 2 | $0 | $0 |
| Gary Fontaine | Director (as of 9/24/2024) Trustee or director | 2 | $0 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KATHERINE R THEODOSS | PRESIDENT/ CEO Officer | 40 | $234,630 | $41,691 |
| JEFFREY CANNIFF | CFO/TREASURER Officer | 40 | $177,039 | $14,457 |
| BARBARA PALMER ENDED 102023 | VP BRANCH RETAIL DEVELOPMENT Highest-paid employee | 40 | $126,896 | $16,425 |
| KAREN BROUSSEAU | SVP OF RETAIL OPERATIONS Highest-paid employee | 40 | $102,618 | $31,209 |
| LYNN MERO | VP OF CONSUMER LENDING Highest-paid employee | 40 | $109,531 | $16,745 |
| MARIA GARCIA-TORRES | SVP OF ADMINISTRATION Highest-paid employee | 40 | $111,488 | $9,164 |
| JOHN A LAFLECHE | BOARD CHAIR/DIRECTOR Trustee or director | 3 | $12,000 | $0 |
| JAMES KEYES | 2ND VICE CHAIR/DIRECTOR Trustee or director | 2 | $0 | $0 |
| PHIL CYR | 1ST VICE CHAIR/DIRECTOR Trustee or director | 2 | $0 | $0 |
| MICHELLE M ANDERSON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MADALINE I BONADEIES | DIRECTOR Trustee or director | 2 | $0 | $0 |
| BENJAMIN TULLY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| WILLIAM TRIFONE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ROBERT CAPRERA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JOSE DINGAI | DIRECTOR Trustee or director | 2 | $0 | $0 |
| AMY HOWARD | DIRECTOR Trustee or director | 2 | $0 | $0 |
| REBECCA BRUSO | DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 155 MAIN ST, SOUTHBRIDGE, MA 01550-2524
- In care of
- % JEFFREY CANNIFF
- Principal officer (990 for 2025)
- JEFFREY CANNIFF, 155 MAIN STREET, SOUTHBRIDGE, MA 01550
- Signed the 990
- JEFFREY CANNIFF, TREASURER/CFO
- Phone
- (508) 765-5454
- Website
- WWW.SBGECU.ORG
- Return prepared by
- WOLF & COMPANY PC
Mission
PROVIDE FINANCIAL PRODUCTS AND PERSONALIZED SERVICES THAT WILL ASSIST OUR MEMBERS IN ACHIEVING THEIR FINANCIAL GOALS.
Program accomplishments
- SOUTHBRIDGE CREDIT UNION IS A MEMBER-OWNED CREDIT UNION THAT COMMITTED TO PROVIDING ITS MEMBERS WITH SUPERIOR FINANCIAL SERVICES. ITS PRIMARY FUNCTION IS TO PROVIDE LOANS TO ITS MEMBERS AS WELL AS ACCEPT DEPOSITS FROM THEM. FOR YEAR ENDED 12/31/2025, LOAN INTEREST RECEIVED FROM MEMBERS WAS $9,175,811.
- INTEREST PAID ON SHARE ACCOUNTS $2,998,861
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 04-2023790
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1942
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $236,321,866
- Income (IRS master file)
- $13,251,344
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $13,160,561 | $12,155,307 | $236,321,866 | XML |
| 990 | December 2024 | $11,878,282 | $11,430,592 | $222,471,452 | XML |
| 990 | December 2023 | $10,589,215 | $10,331,619 | $213,066,598 | XML |
| 990 | December 2022 | $9,370,814 | $8,248,124 | $210,069,860 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-2023790).
Questions about SOUTHBRIDGE CREDIT UNION
- What is the EIN of SOUTHBRIDGE CREDIT UNION?
- The employer identification number (EIN) of SOUTHBRIDGE CREDIT UNION is 04-2023790.
- Is SOUTHBRIDGE CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1942.
- Are donations to SOUTHBRIDGE CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does SOUTHBRIDGE CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SOUTHBRIDGE CREDIT UNION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SOUTHBRIDGE CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of SOUTHBRIDGE CREDIT UNION?
- The 990 for the year ended December 31, 2025 names JEFFREY CANNIFF.
- Who are the officers and directors of SOUTHBRIDGE CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 18 people; 7 received compensation from the organization, the highest $309,055 (JEFFREY CANNIFF, CFO/TREASURER).
- How much revenue does SOUTHBRIDGE CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $13,160,561, expenses of $12,155,307 and total assets of $236,321,866 at year end.
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