City Of Boston Credit Union

Organization Overview

City Of Boston Credit Union is located in Boston, MA. The organization was established in 1936. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, City Of Boston Credit Union employed 100 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. City Of Boston Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, City Of Boston Credit Union generated $22.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $21.1m during the year ending 12/2021. While expenses have increased by 6.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

CREDIT UNION - THRIFT SERVICES

Describe the Organization's Program Activity:

Part 3 - Line 4a

MAINTENANCE OF MEMBERS' SHARE ACCOUNTS AND THE INVESTMENT OF SUCH FUNDS. NUMBER OF SHARE ACCOUNTS 56,940. MAINTENANCE OF MEMBERS' LOAN ACCOUNTS. NUMBER OF LOAN ACCOUNTS 14,181.


EXPENSES APPLIED AGAINST NON MEMBER ATM FEE INCOME.


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Board, Officers & Key Employees

Name (title)Compensation
Neil Gordon
Ex CEO
$373,756
Catherine Mullen
VP Of Member
$179,966
Robert Mccauley
VP Of Lendin
$156,048
Karla Mccarron
VP Of Market
$147,152
Richard Bonomo
Comptroller
$141,908
James Carden
Consumer Loa
$116,746

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Nes Group Nes Group
Architect/desig
$1,164,365
One Union Street Ltd Partnership One Union Street Ltd Partnership
Rent
$558,684
Blue Cross Blue Shield Blue Cross Blue Shield
Health Ins
$1,363,374
Boston Symphony Orchestra Boston Symphony Orchestra
$326,592
Connecticut Online Connecticut Online
Data Processor
$2,005,152
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$17,754,628
Investment income $1,526,602
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $901,756
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $22,922,558

Grants Recieved

Over the last fiscal year, we have identified 1 grants that City Of Boston Credit Union has recieved totaling $25,000.

Awarding OrganizationAmount
Bny Mellon Charitable Gift Fund

Boston, MA

PURPOSE: TO FURTHER THE ORGANIZATIONS EXEMPT PURPOSE

$25,000
View Grant Recipient Profile

Peer Organizations

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