Greater Springfield Credit Union

Not tax-deductible

Springfield, MAMutual-benefit / member-servingSince 1927Mutual / membership EIN 04-1859290Revenue $10.8M in FY2025

On file with the IRSgrscu.org1030 Wilbraham Rd, 01109-2023 · Springfield, MATax-exempt since May 1942

Claim this org

(tell your story, add context, and more)

What claiming does How does your 990 look to donors? Take the 10-Question Audit

To provide a friendly atmosphere for its members in which they can conduct their financial business and to offer fair rates for savings, loans and other services as they become available.

Run by 8 volunteers and 41 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $2.4M a year · 30% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$508K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
78 mo
of spending, in cash
Plus $61.1M in investments, Pt X · Ln 11–13
Looks good: 77.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$186.2M
82% of total assets
Concern: liabilities are 82% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$10.8M
+13% vs prior year
Spent
$7.8M
Net assets
$40.5M
By yearFY2020–FY2025
Revenue
$10.8M
FY2025▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$6.7M
FY2021$6.1M
FY2022$6.8M
FY2023$8.1M
FY2024$9.6M
FY2025$10.8M
Expenses
$7.8M
FY2025▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.4M
FY2021$4.3M
FY2022$4.4M
FY2023$5.6M
FY2024$7.2M
FY2025$7.8M
Net assets
$40.5M
FY2025▲ +15%
Tap a bar for its year
Net assets by fiscal year
FY2020$31.7M
FY2021$32.5M
FY2022$29.0M
FY2023$32.7M
FY2024$35.4M
FY2025$40.5M

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1942.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

10 people listed on the 990; $508K paid to officers and key staff.

Part VII, Section A · reportable compensation
$238,089Pt VII · Sec A
$141,617Pt VII · Sec A
VP Lending
$127,945Pt VII · Sec A
$0Pt VII · Sec A
Vice Chairperson
$0Pt VII · Sec A
Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jennifer St Peter$238,089$213,157$182,406$152,887$131,794$127,995
Jennifer Gallant$141,617$137,033$114,439———
Aubrey Carpe$127,945$123,696————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Greater Springfield Credit Union executive salaries →

On this list? Claim this org

Something off? Claim to add context

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers members financial services, fair rates for savings, and loans.

Questions for Greater Springfield Credit Union

Tap to ask. Greater Springfield Credit Union sees how many people are interested.

Your first name shows with your question. Greater Springfield Credit Union answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · in their own filed words · FY2025
01

Not required.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $51K · 2020–2025
Unitemized GrantFY2025$8,000
Unitemized GrantFY2024$8,000
Unitemized GrantFY2023$8,000
Unitemized GrantFY2022$6,000
Unitemized GrantFY2021$13,684
Unitemized GrantFY2020$7,812

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$10.8M
Ln 12
Fees for servicesLn 2g$7.0M
Investment incomeLn 3$3.8M
Other incomeLn 4–11$21K
Money outPt IX
$7.8M
Ln 25
Owns and owesPt X
$40.5M
net assets · Ln 32
Cash and savingsLn 1–2$50.6M
Total assetsLn 16$226.7M
LiabilitiesLn 26$186.2M
PeoplePt VI, VII
10
listed · VII A
PaidVII A3
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$7.0M
Investment incomeLn 3$3.8M
Other incomeLn 4–11$21K
Total revenueLn 12$10.8M
Assets in detailPt X, end of year
CashLn 1$1.7M
SavingsLn 2$49.0M
Cash and savings togetherLn 1–2$50.6M
InvestmentsLn 11–13$61.1M
Land, buildings, equipmentLn 10c$1.3M
Other assetsLn 15$2.8M
Total assetsLn 16$226.7M
LiabilitiesLn 26$186.2M
Net assetsLn 32$40.5M
OperationsPt I, VI
EmployeesI 541
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$62.8M$50.6M
InvestmentsLn 11–13$57.9M$61.1M
Land, buildings, equipmentLn 10c$1.1M$1.3M
Total assetsLn 16$233.3M$226.7M
LiabilitiesLn 26$197.9M$186.2M
Net assetsLn 32$35.4M$40.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$20K
Pay of current officers, directors and key staffLn 5$380K
Other salaries and wagesLn 7$1.6M
Pension plan contributionsLn 8$189K
Other employee benefitsLn 9$245K
Payroll taxesLn 10$148K
Legal feesLn 11b$87K
Accounting feesLn 11c$58K
Other fees for servicesLn 11g$52K
Advertising and promotionLn 12$18K
Office expensesLn 13$382K
Information technologyLn 14$96K
OccupancyLn 16$150K
Conferences, conventions and meetingsLn 19$51K
InterestLn 20$2.6M
Depreciation, depletion and amortizationLn 22$98K
InsuranceLn 23$56K
Other expenses (24a–d)Ln 24$1.6M
Total functional expensesLn 25$7.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $10.8M$7.8M$3.0M$40.5M 990 PDF
FY2024 $9.6M$7.2M$2.5M$35.4M 990 PDF
FY2023 $8.1M$5.6M$2.5M$32.7M 990 PDF
FY2022 $6.8M$4.4M$2.3M$29.0M 990 PDF
FY2021 $6.1M$4.3M$1.9M$32.5M 990 PDF
FY2020 $6.7M$4.4M$2.4M$31.7M 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $10,833,946 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $6,542,648$7,017,873
I-10 Investment incomePrior year $3,049,551$3,795,116
I-11 Other revenuePrior year $22,523$20,957
I-12 Total revenuePrior year $9,614,722$10,833,946
I-13 Grants and similar amounts paidPrior year $14,885$19,661
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,282,807$2,561,698
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,857,618$5,213,378
I-18 Total expensesPrior year $7,155,310$7,794,737
I-19 Revenue less expensesPrior year $2,459,412$3,039,209
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $10,833,946 across 4 lines filed
Lines not itemized here account for $8,132 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,975,953 · Unrelated business $41,920$7,017,873
VIII-3 Investment incomeExcluded from tax $3,795,116$3,795,116
VIII-6 Net rental income or lossRelated to mission $12,825$12,825
VIII-12 Total revenueRelated to mission $6,988,778 · Unrelated business $41,920 · Excluded from tax $3,803,248$10,833,946
Part IX · Statement of functional expenses $7,794,737 across 18 lines filed
IX-2 Grants to domestic individuals$19,661
IX-5 Pay of current officers, directors and key staff$379,705
IX-7 Other salaries and wages$1,600,209
IX-8 Pension plan contributions$189,447
IX-9 Other employee benefits$244,617
IX-10 Payroll taxes$147,720
IX-11b Legal fees$87,212
IX-11c Accounting fees$58,414
IX-11g Other fees for services$51,510
IX-12 Advertising and promotion$18,275
IX-13 Office expenses$381,907
IX-14 Information technology$96,285
IX-16 Occupancy$150,350
IX-19 Conferences, conventions and meetings$51,227
IX-20 Interest$2,587,470
IX-22 Depreciation, depletion and amortization$98,177
IX-23 Insurance$55,647
IX-24 Other expenses (24a–d)$1,576,904
IX-25 Total functional expenses$7,794,737
Part X · Balance sheet $226,705,849 assets, 12 lines filed
Asset lines not itemized here account for $110,722,642; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,581,182$1,654,643
X-2 Savings and temporary cash investmentsStart of year $61,262,989$48,963,589
X-9 Prepaid expenses and deferred chargesStart of year $133,475$226,357
X-10c Land, buildings and equipment, netStart of year $1,130,514$1,280,818
X-11 Publicly traded securitiesStart of year $57,902,370$61,066,814
X-15 Other assetsStart of year $3,162,766$2,790,986
X-16 Total assetsStart of year $233,310,109$226,705,849
X-17 Accounts payable and accrued expensesStart of year $1,403,285$26,607
X-25 Other liabilitiesStart of year $196,539,354$186,160,143
X-26 Total liabilitiesStart of year $197,942,639$186,186,750
X-32 Total net assets or fund balancesStart of year $35,367,470$40,519,099
X-33 Total liabilities and net assetsStart of year $233,310,109$226,705,849
Part XI · Reconciliation of net assets $40,519,099 net assets at year end
XI-1 Total revenue$10,833,946
XI-2 Total expenses$7,794,737
XI-3 Revenue less expenses$3,039,209
XI-4 Net assets at start of year$35,367,470
XI-5 Net unrealized gains (losses) on investments$2,112,420
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$40,519,099

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.