Totals
- Total revenue
- $31,030,656
- Total expenses
- $28,420,802
- Contributions and grants received
- $0
- Grants paid
- $106,659
- Program service revenue
- $27,665,129
- Investment income
- $3,365,527
- Other revenue
- $0
- Total assets, end of year
- $744,609,359
- Total liabilities, end of year
- $647,078,313
- Net assets or fund balances, end of year
- $97,531,046
- 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: INTEREST ON LOANS
total $22,864,252 · related or exempt $22,864,252
-
2b · Program service revenue: FEES, CHARGES, OTHER
total $2,400,584 · related or exempt $2,400,584
-
2c · Program service revenue: INTERCHANGE INCOME
total $1,585,139 · related or exempt $1,585,139
-
2d · Program service revenue: FINANCE AND INSURANCE
total $815,154 · unrelated business $815,154
-
3 · Investment income
total $3,285,095 · related or exempt $3,285,095
-
7a · Gross sales of assets other than inventory
other assets $14,442,020
-
7b · Less cost or other basis and sales expenses
other assets $14,361,588
-
7c · Gain or loss
other assets $80,432
-
7d · Net gain or loss
total $80,432 · related or exempt $80,432
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $99,159
-
2 · Grants to domestic individuals
total $7,500
-
5 · Compensation of officers, directors and key employees
total $1,914,752
-
7 · Other salaries and wages
total $7,686,920
-
8 · Pension plan contributions
total $1,082,621
-
9 · Other employee benefits
total $1,340,248
-
10 · Payroll taxes
total $800,369
-
11b · Fees: legal
total $17,509
-
11c · Fees: accounting
total $191,520
-
11g · Fees: other
total $543,641
-
12 · Advertising and promotion
total $466,888
-
13 · Office expenses
total $1,512,038
-
14 · Information technology
total $1,518,986
-
16 · Occupancy
total $830,565
-
19 · Conferences, conventions and meetings
total $182,875
-
20 · Interest
total $7,032,420
-
22 · Depreciation, depletion and amortization
total $927,085
-
23 · Insurance
total $181,491
-
24a · Other expenses: DEBIT CARD PROGRAM EXPE
total $965,008
-
24b · Other expenses: WEB SERVICES
total $443,825
-
24c · Other expenses: OTHER
total $428,071
-
24d · Other expenses: LOAN SERVICING
total $213,922
-
24e · All other expenses
total $33,389
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,309,255 · end of year $4,166,191
-
2 · Savings and temporary cash investments
beginning of year $29,957,144 · end of year $22,312,835
-
4 · Accounts receivable
beginning of year $2,726,568 · end of year $3,355,266
-
5 · Loans and receivables from officers and key people
beginning of year $13,376,769 · end of year $13,478,025
-
7 · Other notes and loans receivable
beginning of year $598,641,064 · end of year $598,348,597
-
9 · Prepaid expenses and deferred charges
beginning of year $465,808 · end of year $512,226
-
10a · Land, buildings and equipment: cost or other basis
$23,749,246
-
10b · Land, buildings and equipment: accumulated depreciation
$10,232,920
-
10c · Land, buildings and equipment, net
beginning of year $13,978,188 · end of year $13,516,326
-
11 · Investments: publicly traded securities
beginning of year $2,027,100 · end of year $2,793,900
-
12 · Investments: other securities
beginning of year $50,412,936 · end of year $75,305,213
-
14 · Intangible assets
beginning of year $1,874,316 · end of year $1,732,748
-
15 · Other assets
beginning of year $9,854,372 · end of year $9,088,032
-
17 · Accounts payable and accrued expenses
beginning of year $6,383,177 · end of year $5,037,294
-
21 · Escrow or custodial account liability
beginning of year $2,523,884 · end of year $2,532,599
-
23 · Secured mortgages and notes payable
beginning of year $41,418,440 · end of year $60,985,597
-
25 · Other liabilities
beginning of year $581,616,659 · end of year $578,522,823
-
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 $95,681,360 · end of year $97,531,046
Mission and programs · 2024
Mission
PNCU IS A NON-PROFIT ORGANIZATION THAT IS OWNED BY THE MEMBERS. EACH MEMBER MUST OPEN AN ACCOUNT TO BECOME A MEMBER. EACH MEMBER IS ALLOWED TO CAST ONE VOTE AT THE ANNUAL MEETING. THE SLATE OF THE BOARD OF DIRECTORS IS VOTED BY THE MEMBERS. PNCU HAS 13 BOARD MEMBERS WHO ARE VOLUNTEERS. THEY ARE NOT COMPENSATED FINANCIALLY IN ANY WAY.
Activities or mission (Part I)
AS A MEMBER-OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE, POLISH NATIONAL CREDIT UNION IS COMMITTED TO OUR MEMBERS. WE WILL UPHOLD OUR FUNDAMENTAL RESPONSIBILITY TO ACTIVELY SERVE PEOPLE WITHIN OUR FIELD OF MEMBERSHIP, AND AS APPROPRIATE, THE COMMUNITIES THEY LIVE IN. WE WILL TREAT ALL MEMBERS WITH RESPECT AND DIGNITY AND WE WILL OFFER HONEST, FAIR DEALS TO ALL MEMBERS. WE WILL DELIVER A RANGE OF LOW-COST PRODUCTS AND SERVICES TO THE DIVERSE ECONOMIC AND SOCIAL MAKE-UP OF OUR MEMBERS AND POTENTIAL MEMBERS. WE WILL LOOK FOR BETTER WAYS TO REACH THE UNDER-SERVED IN OUR FIELD OF MEMBERSHIP AND WE WILL CONTINUALLY, IN ALL FACETS OF OPERATION, DEMONSTRATE THE VALUE OF MEMBERSHIP IN OUR CREDIT UNION.WE WILL MONITOR AND COMMUNICATE OUR SERVICE IN A MEANINGFUL WAY SO THAT MEMBERS, POTENTIAL MEMBERS, LEGISLATORS, REGULATORS AND THE COMMUNITY AT LARGE WILL UNDERSTAND AND APPRECIATE THE UNIQUE ROLE THAT MEMBER-OWNED FINANCIAL COOPERATIVES PLAY IN THEIR LIVES.
-
THE CREDIT UNION MAINTAINED 47,883 DEPOSIT ACCOUNTS APPROXIMATING $581,055,000 AS OF DECEMBER 31, 2024. DIVIDENDS AND INTEREST INCOME ON MEMBER DEPOSITS APPROXIMATED $7,032,000 FOR THE YEAR ENDED DECEMBER 31, 2024. AS OF DECEMBER 31, 2024, THE CREDIT UNION HAD 6,143 LOANS OUTSTANDING TOTALING APPROXIMATELY $596,949,000. ADDITIONALLY, APPROXIMATELY 569 SAFE DEPOSIT BOXES WERE USED BY MEMBERS DURING 2024.
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
James P KellyJAMES P KELLY
PRESIDENT & CEO
- Total calculated
- $903,074
- From this org
- $827,960
- From related orgs
- $0
- Other
- $75,114
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $542,003
- Bonus
- $26,268
- Other
- $259,689
- Deferred
- $43,114
- Nontaxable benefits
- $32,000
- Filer's total
- $903,074
-
Edward CzepielEDWARD CZEPIEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Benjamin DavisBENJAMIN DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Paul FedericiPAUL FEDERICI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
William JebbWILLIAM JEBB
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Henry LenartHENRY LENART
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Stanley MatrasSTANLEY MATRAS
CLERK OF THE BOARD
- Total calculated
- $0
- Hours/week
- 5
-
Robert MoritkoROBERT MORITKO
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
John MurphyJOHN MURPHY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Ralph SlateRALPH SLATE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Michael WoishnisMICHAEL WOISHNIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Dr Anthony ZepkoDR ANTHONY ZEPKO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Gary ZiembaGARY ZIEMBA
BOARD CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
Michael SugrueMICHAEL SUGRUE
EVP
- Total calculated
- $465,792
- From this org
- $391,521
- From related orgs
- $0
- Other
- $74,271
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $339,366
- Bonus
- $11,260
- Other
- $40,895
- Deferred
- $40,892
- Nontaxable benefits
- $33,379
- Filer's total
- $465,792
-
Charlotte HansenCHARLOTTE HANSEN
CFO/SVP
- Total calculated
- $302,821
- From this org
- $235,596
- From related orgs
- $0
- Other
- $67,225
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $224,523
- Bonus
- $10,284
- Other
- $789
- Deferred
- $30,719
- Nontaxable benefits
- $36,506
- Filer's total
- $302,821
-
Kirk BurnhamKIRK BURNHAM
SVP OPERATIONS
- Total calculated
- $243,065
- From this org
- $187,098
- From related orgs
- $0
- Other
- $55,967
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $172,904
- Bonus
- $13,772
- Other
- $422
- Deferred
- $24,003
- Nontaxable benefits
- $31,964
- Filer's total
- $243,065
-
Kathi DonahueKATHI DONAHUE
SVP COMMERCIAL LENDING
- Total calculated
- $282,615
- From this org
- $228,704
- From related orgs
- $0
- Other
- $53,911
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $203,719
- Bonus
- $23,797
- Other
- $1,188
- Deferred
- $28,968
- Nontaxable benefits
- $24,943
- Filer's total
- $282,615
-
Nancy MirkinNANCY MIRKIN
VP COMMERCIAL LENDING
- Total calculated
- $252,435
- From this org
- $198,380
- From related orgs
- $0
- Other
- $54,055
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $176,733
- Bonus
- $20,459
- Other
- $1,188
- Deferred
- $26,283
- Nontaxable benefits
- $27,772
- Filer's total
- $252,435
-
Messanvi EkonMESSANVI EKON
VICE PRESIDENT, COMPLIANCE
- Total calculated
- $232,863
- From this org
- $176,237
- From related orgs
- $0
- Other
- $56,626
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $162,404
- Bonus
- $13,059
- Other
- $774
- Deferred
- $22,051
- Nontaxable benefits
- $34,575
- Filer's total
- $232,863
-
Bonnie RaymondBONNIE RAYMOND
SENIOR VICE PRESIDENT MEMB
- Total calculated
- $224,349
- From this org
- $173,482
- From related orgs
- $0
- Other
- $50,867
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $168,770
- Bonus
- $3,524
- Other
- $1,188
- Deferred
- $23,102
- Nontaxable benefits
- $27,765
- Filer's total
- $224,349
-
Christopher CasaleCHRISTOPHER CASALE
FINANCIAL SERVICES PROGRAM
- Total calculated
- $192,326
- From this org
- $167,475
- From related orgs
- $0
- Other
- $24,851
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $151,941
- Bonus
- $11,923
- Other
- $3,611
- Deferred
- $21,017
- Nontaxable benefits
- $3,834
- Filer's total
- $192,326
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 · 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 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 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)
- FORM 990, SCH J, LINE 4B
- THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO JAMES P. KELLY, MICHAEL SUGRUE, AND BONNIE RAYMOND THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." UNDER THE AGREEMENT, THE EXECUTIVE IS THE OWNER OF THE POLICY AND MAKES A COLLATERAL ASSIGNMENT TO THE CREDIT UNION IN RETURN FOR A LOAN. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON.
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
-
CHARITABLE CONTRIBUTIONS TO INSPIRE AND ENABLE ALL YOUNG PEOPLE, ESPECIALLY THOSE WHO NEED US MOST, TO REALIZE THEIR FULL POTENTIAL AS PRODUCTIVE, RESPONSIBLE, AND CARING CITIZENS.
-
CHARITABLE CONTRIBUTIONS TO INSPIRE AND ENABLE ALL YOUNG PEOPLE, ESPECIALLY THOSE WHO NEED US MOST, TO REALIZE THEIR FULL POTENTIAL AS PRODUCTIVE, RESPONSIBLE, AND CARING CITIZENS.
-
DONATION TO IMPROVE THE OVERALL BUSINESS CLIMATE BY UNITING, GUIDING AND SPEAKING FOR THOSE ENGAGED IN BUSINESS AND INDUSTRY, TOWARD THE ADVANCEMENT OF ECONOMIC AND CIVIL WELL-BEING FOR ALL CITIZENS OF THE GREATER CHICOPEE AREA.
-
DONATIONS TO PROVIDE PARTICIPATORY EXHIBITS AND EDUCATIONAL PROGRAMS THAT INVITE THE INTERACTION OF CHILDREN AND ADULTS TO PROMOTE ENJOYABLE LEARNING AND SELF-DISCOVERY
-
CITY OF CHICOPEE
$0
CHARITABLE CONTRIBUTIONS
-
$0
DONATION
-
GREATER HOLYOKE YMCA
$0
DONATIONS TO HELP DELIVERS ON ITS MISSION BY SERVING AS A PREMIER ORGANIZATION PROMOTING COMMUNITY WELLNESS AND FAMILY ENRICHMENT THROUGH CAUSE-DRIVEN PROGRAMS THAT FOCUS ON YOUTH DEVELOPMENT, HEALTHY LIVING AND SOCIAL RESPONSIBILITY
-
COMMUNITY DEVELOPMENT
-
SAINT STANISLAUS BASILICA
$0
DONATIONS TO HELP BUILDING UPON OUR FOUNDATIONAL ETHNIC HERITAGE AND QUALITY CATHOLIC EDUCATION
-
CHARITABLE CONTRIBUTIONS TO HELP ORGANIZE & RUN ANNUAL PARADE AND RELATED ACTIVITIES IN HOLYOKE, MA.
The 10 largest by cash amount. The API serves every itemized grant.
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.
-
PNCU INSURANCE SERVICES LLC
PROPERTY AND CASUALTY INSURANCE AGENCY · MA · income $221,080 · assets $1,445,585
Directly controlled by POLISH NATIONAL CREDIT UNION
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 7 October 2025
- IRS schema version
- 2024v5.2
- Source object
- 202502819349301130
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.