Sikorsky Financial Credit Union Inc

Organization Overview

Sikorsky Financial Credit Union Inc is located in Stratford, CT. The organization was established in 0000. 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, Sikorsky Financial Credit Union Inc employed 169 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Sikorsky Financial Credit Union Inc 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, Sikorsky Financial Credit Union Inc generated $34.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $28.8m during the year ending 12/2021. While expenses have increased by 5.0% 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

SIKORSKY FINANCIAL CREDIT UNION IS COMMITTED TO ACT IN THE BEST INTEREST OF ITS MEMBERSHIP

Describe the Organization's Program Activity:

Part 3 - Line 4a

SFCU OFFERS SAVINGS AND LOAN PROGRAMS TO ITS MEMBERS. THE SHARE SAVINGS INCLUDE REGUALAR SHARES, DAILY MONEY MARKET ACCOUNTS, EARLY ADVANTAGE ACCOUNTS, COVERDALE ESA, SHARE DRAFT ACCOUNTS AND SHARE CERTIFICATES.


THE LOAN PROGRAM INCLUDES MORTGAGES, AUTO NEW AND USED, RECREATIONAL VEHICLES, CONSUMER AND CREDIT CARD LOANS


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Board, Officers & Key Employees

Name (title)Compensation
Vincent Ciambriello Jr
Presidentceo
$1,008,542
Charles K Hoddinott
Evpcoo
$398,722
Alfred S Posey
SVP Itcio
$342,424
Benjamin W Citrin
Svpcfo
$328,976
Lee A Stater
Home Loan Sales Mgr
$328,631
Ann Marie Gillick
Svpchief Hr
$298,586

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Fis
Financial Technology Solutions
$571,001
Solidus Inc
New Branch Construction Contractor
$905,484
Ncr Digital Insight
Online Banking
$440,790
Nes Group
Main Office Renovation Contractor
$817,604
Pcm Sales
Software/hardware/maintenance
$521,296
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$26,327,423
Investment income $2,015,363
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $34,623,993

Peer Organizations

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