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Nonprofiteer
← TRUMARK CREDIT UNION

Form 990 for tax year 2024

Filed by TRUMARK CREDIT UNION.

Totals

Total revenue
$198,106,084
Total expenses
$179,234,336
Contributions and grants received
$0
Grants paid
$140,041
Program service revenue
$163,072,861
Investment income
$23,245,563
Other revenue
$11,787,660
Total assets, end of year
$3,353,079,309
Total liabilities, end of year
$3,092,631,923
Net assets or fund balances, end of year
$260,447,386
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INCOME ON LOANS

    total $140,749,307 · related or exempt $140,749,307

  • 2b · Program service revenue: FEES AND CHARGES

    total $22,323,554 · related or exempt $22,229,174 · unrelated business $94,380

  • 3 · Investment income

    total $23,017,025 · related or exempt $23,017,025

  • 7a · Gross sales of assets other than inventory

    securities $975,750 · other assets $16,063,809

  • 7b · Less cost or other basis and sales expenses

    securities $1,032,120 · other assets $15,778,901

  • 7c · Gain or loss

    securities -$56,370 · other assets $284,908

  • 7d · Net gain or loss

    total $228,538 · excluded $228,538

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $11,787,660 · related or exempt $11,787,660

  • 11e · Other revenue, total

    $11,787,660

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $123,091

  • 2 · Grants to domestic individuals

    total $16,950

  • 5 · Compensation of officers, directors and key employees

    total $5,618,591

  • 7 · Other salaries and wages

    total $36,057,379

  • 8 · Pension plan contributions

    total $1,379,212

  • 9 · Other employee benefits

    total $4,254,820

  • 10 · Payroll taxes

    total $2,728,255

  • 11b · Fees: legal

    total $476,327

  • 11c · Fees: accounting

    total $1,424,712

  • 11g · Fees: other

    total $3,166,232

  • 12 · Advertising and promotion

    total $1,954,866

  • 13 · Office expenses

    total $4,463,357

  • 14 · Information technology

    total $4,754,165

  • 16 · Occupancy

    total $6,060,828

  • 17 · Travel

    total $1,192,573

  • 19 · Conferences, conventions and meetings

    total $82,934

  • 20 · Interest

    total $77,037,751

  • 22 · Depreciation, depletion and amortization

    total $4,059,090

  • 23 · Insurance

    total $411,948

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $10,241,000

  • 24b · Other expenses: VISA SERVICE FEES

    total $6,624,645

  • 24c · Other expenses: COLLECTIONS AND LOAN SE

    total $3,453,274

  • 24d · Other expenses: EQUIPMENT RENTAL MAINTE

    total $1,071,753

  • 24e · All other expenses

    total $2,580,583

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,760,731 · end of year $2,832,824

  • 2 · Savings and temporary cash investments

    beginning of year $178,208,098 · end of year $163,927,732

  • 4 · Accounts receivable

    beginning of year $1,868,511 · end of year $1,153,065

  • 7 · Other notes and loans receivable

    beginning of year $2,292,738,076 · end of year $2,493,626,475

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,136,546 · end of year $6,068,351

  • 10a · Land, buildings and equipment: cost or other basis

    $71,530,319

  • 10b · Land, buildings and equipment: accumulated depreciation

    $37,727,963

  • 10c · Land, buildings and equipment, net

    beginning of year $34,441,372 · end of year $33,802,356

  • 11 · Investments: publicly traded securities

    beginning of year $558,042,195 · end of year $521,964,399

  • 12 · Investments: other securities

    beginning of year $21,937,335 · end of year $21,277,982

  • 14 · Intangible assets

    beginning of year $800,000 · end of year $500,000

  • 15 · Other assets

    beginning of year $99,505,705 · end of year $107,926,125

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,608,283 · end of year $19,079,445

  • 21 · Escrow or custodial account liability

    beginning of year $11,429,762 · end of year $11,243,311

  • 23 · Secured mortgages and notes payable

    beginning of year $363,227,761 · end of year $256,332,950

  • 25 · Other liabilities

    beginning of year $2,558,568,141 · end of year $2,805,976,217

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $239,604,622 · end of year $260,447,386

Mission and programs · 2024

Mission

SEE SCHEDULE O FOR COMPLETE MISSION STATEMENT.

  • CREDIT UNIONS ARE COOPERATIVE SAVINGS AND CREDIT ASSOCIATIONS INCORPORATED FOR THE PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR SUCH MEMBERS AT REASONABLE RATES OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. THE CREDIT UNION SERVES APPROXIMATELY 146,000 MEMBERS WITHIN ITS FIELD OF MEMBERSHIP AS DEFINED BY THE CREDIT UNION'S CHARTER AND BYLAWS.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Leonard V Doughty III

    PRESIDENT

    Total calculated
    $28,551
    From this org
    $28,471
    From related orgs
    $0
    Other
    $80
    Hours/week
    4

  • James P Debow

    VICE PRESIDENT

    Total calculated
    $43,358
    From this org
    $43,199
    From related orgs
    $0
    Other
    $159
    Hours/week
    4

  • Wayne J Goodwin

    TREASURER

    Total calculated
    $47,494
    From this org
    $47,414
    From related orgs
    $0
    Other
    $80
    Hours/week
    4

  • R Terence Brunt

    SECRETARY

    Total calculated
    $37,586
    From this org
    $37,506
    From related orgs
    $0
    Other
    $80
    Hours/week
    4

  • Suzette E Adams

    DIRECTOR

    Total calculated
    $47,393
    From this org
    $47,393
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Joseph J Bily

    DIRECTOR

    Total calculated
    $33,040
    From this org
    $33,040
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Hugh T Bray

    DIRECTOR

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Joseph J Ciaranca

    DIRECTOR (ENDING 4/2024)

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Daniel L Dillard

    DIRECTOR

    Total calculated
    $31,096
    From this org
    $31,096
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • David A Rufibach

    DIRECTOR

    Total calculated
    $34,864
    From this org
    $34,864
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kathleen L Wells

    DIRECTOR

    Total calculated
    $39,795
    From this org
    $39,795
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William J Donehower

    DIRECTOR (BEGINNING 07/2024)

    Total calculated
    $31,608
    From this org
    $31,608
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Richard F Stipa

    ASSOC. DIRECTOR (NON VOTING)

    Total calculated
    $32,782
    From this org
    $32,623
    From related orgs
    $0
    Other
    $159
    Hours/week
    4

  • Kelly M Botti

    CEO

    Total calculated
    $1,498,400
    From this org
    $1,439,582
    From related orgs
    $0
    Other
    $58,818
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,439,582
    Bonus
    $0
    Other
    $0
    Deferred
    $16,458
    Nontaxable benefits
    $42,360
    Filer's total
    $1,498,400

  • Vincent J Market

    EVP

    Total calculated
    $1,205,189
    From this org
    $1,023,427
    From related orgs
    $0
    Other
    $181,762
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $424,738
    Bonus
    $598,689
    Other
    $0
    Deferred
    $152,072
    Nontaxable benefits
    $29,690
    Filer's total
    $1,205,189

  • Steven Olson

    EVP

    Total calculated
    $439,372
    From this org
    $412,425
    From related orgs
    $0
    Other
    $26,947
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $390,463
    Bonus
    $21,962
    Other
    $0
    Deferred
    $12,725
    Nontaxable benefits
    $14,222
    Filer's total
    $439,372

  • Karen Sweeney

    EVP

    Total calculated
    $430,782
    From this org
    $399,310
    From related orgs
    $0
    Other
    $31,472
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $377,800
    Bonus
    $21,510
    Other
    $0
    Deferred
    $17,250
    Nontaxable benefits
    $14,222
    Filer's total
    $430,782

  • Patrick O'Halloran

    EVP

    Total calculated
    $402,896
    From this org
    $342,682
    From related orgs
    $0
    Other
    $60,214
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $324,172
    Bonus
    $18,510
    Other
    $0
    Deferred
    $17,854
    Nontaxable benefits
    $42,360
    Filer's total
    $402,896

  • Daniel Brewin

    EVP

    Total calculated
    $538,719
    From this org
    $479,109
    From related orgs
    $0
    Other
    $59,610
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $389,109
    Bonus
    $90,000
    Other
    $0
    Deferred
    $17,250
    Nontaxable benefits
    $42,360
    Filer's total
    $538,719

  • Marianne E Drumm

    EVP

    Total calculated
    $384,237
    From this org
    $359,715
    From related orgs
    $0
    Other
    $24,522
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $341,710
    Bonus
    $18,005
    Other
    $0
    Deferred
    $16,722
    Nontaxable benefits
    $7,800
    Filer's total
    $384,237

  • Dana Brown

    EVP

    Total calculated
    $378,077
    From this org
    $356,489
    From related orgs
    $0
    Other
    $21,588
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $356,489
    Bonus
    $0
    Other
    $0
    Deferred
    $9,690
    Nontaxable benefits
    $11,898
    Filer's total
    $378,077

  • Gerry Devita

    1ST VP

    Total calculated
    $315,351
    From this org
    $284,281
    From related orgs
    $0
    Other
    $31,070
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $269,138
    Bonus
    $15,143
    Other
    $0
    Deferred
    $15,767
    Nontaxable benefits
    $15,303
    Filer's total
    $315,351

  • Steven Ross

    AVP

    Total calculated
    $311,862
    From this org
    $278,993
    From related orgs
    $0
    Other
    $32,869
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $36,000
    Bonus
    $242,993
    Other
    $0
    Deferred
    $14,530
    Nontaxable benefits
    $18,339
    Filer's total
    $311,862

  • Suzanne Tomassian

    1ST VP

    Total calculated
    $306,396
    From this org
    $275,654
    From related orgs
    $0
    Other
    $30,742
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $261,608
    Bonus
    $14,046
    Other
    $0
    Deferred
    $14,975
    Nontaxable benefits
    $15,767
    Filer's total
    $306,396

  • Wolfgang Hein

    AVP

    Total calculated
    $248,166
    From this org
    $236,366
    From related orgs
    $0
    Other
    $11,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $36,000
    Bonus
    $200,366
    Other
    $0
    Deferred
    $11,800
    Nontaxable benefits
    $0
    Filer's total
    $248,166

  • Tuan Le

    AVP

    Total calculated
    $447,053
    From this org
    $428,612
    From related orgs
    $0
    Other
    $18,441
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $36,000
    Bonus
    $392,612
    Other
    $0
    Deferred
    $18,441
    Nontaxable benefits
    $0
    Filer's total
    $447,053

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
VINCENT J, MARKET PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE CREDIT UNION ACCRUED $120,000 TOWARD BENEFIT LIABILITY IN 2024. VINCENT J. MARKET RECEIVED $575,000 IN PAYMENTS FROM THIS PLAN IN 2024.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • INSURANCE SERVICES AT TRUMARK FINANCIAL LLC

    INSURANCE SALES · PA · income $58,135 · assets $3,552,733

    Directly controlled by TRUMARK FINANCIAL CREDIT UNION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • LSOP 3 PA 2 LLC

    C · REAL ESTATE HOLDING COMPANY · PA · 100% owned · share of income $1,955,860 · share of assets $23,240,429 · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202503189349301605

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