Organizations Filed Purposes:
MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION'S MISSION IS TO PROMOTE AND STRENGTHEN THE CREDIT UNION MOVEMENT BY PROVIDING EXCESS SHARE AND DEPOSIT INSURANCE AND ASSOCIATED SERVICES FOR CREDIT UNIONS AND THEIR MEMBERS WHILE PRESERVING THE INTEGRITY OF THE FUND.
TO STRENGTHEN THE CREDIT UNION MOVEMENT BY PROVIDING EXCESS SHARE & DEPOSIT INSURANCE AND ASSOCIATED SERVICES FOR CREDIT UNIONS AND THEIR MEMBERS.
THE MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION WAS CREATED BY STATE LAW TO INSURE THE DEPOSITS OF CREDIT UNIONS IN MASSACHUSETTS. PRIOR TO 1994, IT WAS THE PRIMARY INSURER OF STATE CHARTERED CREDIT UNIONS. AS OF 1994, AS A CONDITION FOR CREDIT UNIONS OBTAINING FEDERAL INSURANCE THROUGH THE NCUA, THE CORPORATION INFUSED CAPITAL INTO SEVERAL CREDIT UNIONS DEEMED CAPITAL DEFICIENT BY THE NCUA. THE AMOUNT OF THE INFUSION TOTALED $6,271,894, OF WHICH $1,392,934 REMAINS OUTSTANDING AS OF 9/30/19. IN 2012, THE MASSACHUSETTS STATE LAW WAS AMENDED TO ESTABLISH A VOLUNTARY RESERVE FUND. IN 2015, THE CORPORATION BEGAN ACCEPTING MEMBER DEPOSITS INTO THE LIQUIDITY RESERVE FUND.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Michael C Hanson | PRESIDENT/CEO | 40 | $799,755 |
| John Ciampa | TREASURER | 40 | $206,411 |
| N Anthony St Pierre | VP OF TECHNOLOGY / SECURIT | 40 | $152,834 |
| Paul N Noce | CHAIRMAN/DIRECTOR | 10 | $18,750 |
| Debbie C Guiney | DIRECTOR | 5 | $14,250 |
| Ralph Moore | DIRECTOR | 5 | $13,500 |
| Michael E Murphy | DIRECTOR | 5 | $11,250 |
| Daniel E Waltz | VICE CHAIR | 5 | $11,000 |
| John D Finnegan Esq | DIRECTOR | 5 | $10,000 |
| Diane M Peralta | DIRECTOR | 5 | $8,500 |
| Gregori A Martucci | DIRECTOR | 5 | $8,250 |
| Kenneth M Delrossi | DIRECTOR | 5 | $6,000 |
| Richard N Mitchell Md | DIRECTOR | 5 | $5,250 |
| Neil Crean | DIRECTOR | 5 | $4,000 |
| George Hardiman | DIRECTOR | 5 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202022309349301402_public.xml