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SUNMARK CREDIT UNION
LATHAM, NY · EIN 141364933 · Form 990 · FY2024 · NTEE W61 · Public & Societal Benefit · Very Large (>$50M) · sunmark.org
revenue
$78.5M
expenses
$72.7M
net assets
$96.6M
employees
320
volunteers
17
mission · from form 990

CREATING VALUE TO ENRICH THE LIVES OF OUR MEMBERS BY PROVIDING FINANCIAL PRODUCTS, EDUCATION AND SERVICES TAILORED TO MEET THEIR FINANCIAL GOALS.

profile · synthesized from sources

SUNMARK CREDIT UNION is a not-for-profit financial cooperative serving over 89,000 members in 14 counties across New York's Capital District and Hudson Valley regions. It offers a full range of financial products including checking and savings accounts, mortgages, auto loans, and business banking services. The credit union emphasizes member benefits such as competitive rates, low fees, and access to a nationwide network of ATMs and shared branches.

irs program accomplishments · form 990 part iii · fy2024

What they reported doing

  1. #1 primary $0
    SUNMARK CREDIT UNION OFFERS VARIOUS DEPOSIT PRODUCTS TO SUPPORT THE FINANCIAL HEALTH AND WELL-BEING OF EACH MEMBER. THESE PRODUCTS PROVIDE COMPETITIVE DIVIDEND RATES, 24/7 ACCESS TO FUNDS AND EASY TRANSFER OPTIONS. WE OFFER MOBILE BANKING, DEBIT CARDS, ACCESS TO NEARLY 30,000 ATMS AND 5,000 PLUS SHARED BRANCHING LOCATIONS ACROSS THE COUNTRY. SUNMARK SERVES OVER 89,000 MEMBERS IN 14 COUNTIES IN THE CAPITAL DISTRICT AND HUDSON VALLEY REGION OF NEW YORK.
named programs · 5 · from sources

What they call their work

Auto and Specialty Vehicle Loans
Provides financing for new and used cars, motorcycles, ATVs, snowmobiles, boats, motor homes, and travel trailers with APRs based on creditworthiness and loan term
Business Banking Services
Provides commercial savings, checking, money market accounts, and share certificates tailored to small businesses and organizations in the region
Checking and Savings Accounts
Offers various accounts including Kasasa Cash® Checking, Student Checking, and Money Market Accounts with tiered dividend rates and low minimum balances
Financial Wellness and Education
Offers financial guidance and educational resources to help members build wealth, manage debt, and achieve financial security
Mortgage and Home Equity Loans
Offers fixed-rate and adjustable-rate mortgages, FHA, VA, and USDA loans, as well as home equity loans and lines of credit with competitive APRs and flexible terms
activities · 3 groups

What they do

  • Credit Union Financial Services 2 activities
    • Offers consumer lending products
      Provides competitive-rate financing with flexible terms on auto loans (including same-day approval), home equity, construction (with no down payment required), solar (with quick approval), and unsecured personal loans up to $25,000.
    • Provides financial services through retail banking operations
      Offers checking and savings accounts, competitive dividend rates, mobile and online banking, debit cards, and access to nearly 30,000 ATMs and over 5,000 shared branching locations nationwide. Most accounts can be opened with a $1.00 minimum deposit, with same-day approval available.
  • Financial Literacy Education Programs 1 activity
    • Delivers financial education and financial wellness programs
      Offers financial education programs and supports financial wellness through the Sunmark Community Partner Program, which enables local organizations to provide financial wellness benefits to their employees.
  • Community Foundation & United Way Support 1 activity
    • Funds local nonprofits and community initiatives
      Funds local nonprofits, schools, and community initiatives to strengthen neighborhoods in the NY Capital Region through the Sunmark Charitable Community Foundation and local partnerships.
financials · form 990 · fy2024
revenue
Total revenue$78.48M
Contributions & grants$00%
Program service revenue$74.44M95%
Investment income$4.09M5%
Other revenue$-54K
expenses
Total expenses$72.67M
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits$24.88M
Grants paid out$73K
Largest expense lineCompensation
balance sheet
Total assets$1.15B
Cash$69.07M
Investments$28.17M
Liabilities$1.05B
Net assets$96.64M
Liquid reserves16.1 mo
3 years on record · 2020–2024 · YoY revenue +7.7%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 18
NameTitleHours/wkCompensation
JERILEE BEAUDOIN PRESIDENT/CEO 40 $477K
VIKAS MUKTAVARAM EVP/CFO 40 $359K
DARRYL ENFIELD CHIEF INFORMATION OFFICER 40 $318K
PAUL KELLY CHIEF PEOPLE OFFICER 40 $310K
FRANK DEGRAW FORMER PRESIDENT/CEO 40 $309K
MICHAEL MATHUSA AVP OF SIS AND LSA 40 $233K
JOHN PRIVIDERA MEMBER EXPERIENCE OFFICER 40 $224K
AMBER COOLEEN VP OF MARKETING 40 $219K
JOHN NOLAN AVP OF IT 40 $217K
ANTHONY LIGUORI SENIOR P & C PRODUCER 40 $203K
DAWN DONOVAN VP OF OPERATIONS 40 $189K
MELISSA SAVAGE VP MORTGAGE LENDING 40 $180K
JAYANT SINGH VP BUSINESS SERVICES 40 $172K
JOHANNA ROBBINS CHIEF FINANCIAL OFFICER 40 $98K
KRISTEN MYERS CHAIRPERSON 1 $3K
JENNIE GLIHA DIRECTOR 1 $958
BRIAN HUGICK SECRETARY 1 $865
AMY JOHNSON DIRECTOR 1 $50
board members · 6
  • DAN HEIM — DIRECTOR
  • MATT CUSACK — TREASURER
  • MATT RHODES — VICE CHAIR
  • PARKER POWELL — DIRECTOR
  • SETH STONE — DIRECTOR
  • TONY CARDONA — DIRECTOR
relationships · 16

Who they work with

  • Boys & Girls Club Partner — Collaborated with Sunmark volunteers to create a new indoor programming space.
  • Capital Roots Partner — Engaged Sunmark volunteers in garden preparation for a life skills and job readiness program.
  • City Mission Partner — Worked with Sunmark employees to sort and organize donations for individuals and families in need.
  • Co-op Shared Branching Network — Provides in-person transaction access through shared branching network.
  • Community Partners Partner — Employers whose employees are eligible for Sunmark membership
  • Girls Inc. Partner — Partnered with Sunmark employees for an outdoor beautification project.
  • GleeBoxx Partner — Partnered with Sunmark for the preparation of care packages for underserved students.
  • Hood’s House of Hoops Partner — Received volunteer support from Sunmark to expand an outdoor play space.
  • Kasasa Partner — Offers Kasasa Rewards Checking and savings accounts as part of its product lineup.
  • National Automated Clearing House Association Government — Follows rules set by NACHA for ACH transactions to ensure security and compliance
  • Shared Branching Network Network — Member of a shared branching network providing access to over 5,000 locations nationwide.
  • Sunmark Charitable Community Foundation Network — Entity through which Sunmark Credit Union conducts its charitable giving and community support.
  • Sunmark Charitable Community Foundation Partner — Charitable foundation through which Sunmark invests in financial education, community development, and quality of life improvements.
  • Sunmark Charitable Foundation Network — Entity through which Sunmark partners with local charities and funds community programs.
  • Sunmark Community Partner Program Partner — Collaborative program enabling local organizations to deliver financial wellness benefits to employees through Sunmark's services.
  • not-for-profit credit union Network — Operates as a not-for-profit credit union serving members in New York.
strategies · 4

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Expanded Access Through Digital and Geographic Outreach
    methodology: expanded_access
    By expanding membership eligibility and leveraging digital tools like mobile banking, ATMs, shared branching, and self-service terminals, Sunmark increases access to financial services, because broader physical and technological reach enables underserved populations to engage consistently with member-focused banking.
  • Integrated Financial Well-Being Approach
    methodology: integrated_financial_wellbeing
    By combining personalized financial guidance, education, and integrated personal-business banking solutions, Sunmark supports holistic financial health, because coordinated services address interconnected needs and improve long-term financial stability for individuals and business owners.
  • Local Economic Reinvestment & Decision-Making
    methodology: local_reinvestment
    By keeping financial decisions local and investing in the Capital Region economy through lending and community partnerships, Sunmark strengthens regional economic resilience and member financial outcomes, because locally guided investment increases relevance and impact of financial services.
  • Member-Owned Cooperative Model
    methodology: member_owned_cooperative
    By operating as a not-for-profit, member-owned credit union, Sunmark reinvests earnings into better loan rates, higher savings returns, and lower fees for members, because this structure aligns financial incentives with member success rather than shareholder profit.