Totals
- Total revenue
- $16,122,320
- Total expenses
- $13,700,330
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $13,710,070
- Investment income
- $2,412,250
- Other revenue
- $0
- Total assets, end of year
- $375,569,734
- Total liabilities, end of year
- $342,930,992
- Net assets or fund balances, end of year
- $32,638,742
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $0
Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: Home Equity/Mortgage Loan
total $5,124,927 · related or exempt $5,124,927 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Auto Personal/Misc Loan Interest
total $4,001,727 · related or exempt $4,001,727 · unrelated business $0 · excluded $0
-
2c · Program service revenue: Credit Card Interest Income
total $563,730 · related or exempt $563,730 · unrelated business $0 · excluded $0
-
2d · Program service revenue: Fees & Interchange Income
total $4,019,686 · related or exempt $4,019,686 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $2,412,250 · related or exempt $2,412,250 · unrelated business $0 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $300,433
-
5 · Compensation of officers, directors and key employees
total $852,343
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $4,464,570
-
8 · Pension plan contributions
total $439,273
-
9 · Other employee benefits
total $781,938
-
10 · Payroll taxes
total $396,053
-
12 · Advertising and promotion
total $227,596
-
13 · Office expenses
total $1,159,807
-
16 · Occupancy
total $556,795
-
17 · Travel
total $113,484
-
22 · Depreciation, depletion and amortization
total $494,710
-
24a · Other expenses: Loan Servicing Expense
total $369,202
-
24b · Other expenses: Professional Services
total $82,558
-
24c · Other expenses: Provision For Loan Loss
total $640,000
-
24d · Other expenses: All Other Expenses
total $2,821,568
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,900,824 · end of year $1,860,052
-
2 · Savings and temporary cash investments
beginning of year $154,911,705 · end of year $135,622,996
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $418,998 · end of year $673,930
-
7 · Other notes and loans receivable
beginning of year $189,429,109 · end of year $221,502,384
-
9 · Prepaid expenses and deferred charges
beginning of year $617,922 · end of year $639,847
-
10a · Land, buildings and equipment: cost or other basis
$12,821,767
-
10b · Land, buildings and equipment: accumulated depreciation
$3,929,180
-
10c · Land, buildings and equipment, net
beginning of year $9,309,121 · end of year $8,892,587
-
15 · Other assets
beginning of year $6,082,493 · end of year $6,377,938
-
17 · Accounts payable and accrued expenses
beginning of year $1,436,883 · end of year $1,584,923
-
18 · Grants payable
end of year $0
-
19 · Deferred revenue
end of year $0
-
20 · Tax-exempt bond liabilities
end of year $0
-
21 · Escrow or custodial account liability
end of year $0
-
22 · Loans and payables to officers and key people
end of year $0
-
23 · Secured mortgages and notes payable
end of year $0
-
24 · Unsecured notes and loans payable
end of year $0
-
25 · Other liabilities
beginning of year $333,016,537 · end of year $341,346,069
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $30,216,752 · end of year $32,638,742
Mission and programs · 2022
Mission
Credit Union - Services directly related to credit union operations providing automobile, home equity, and personal loans to a membership of approximately 34,000.
-
Membership benefit programs and services directly related to Credit Union operations providing automobile, home equity, personal loans and mortgages to a membership of approximately 34,000.
As filed on the 2022 return.
Listed in Part VII
-
Sean Gammon
Exec Director/CEO
- Total calculated
- $331,660
- From this org
- $331,660
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $331,660
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $331,660
-
Jill Fortier
Chief Financial Officer
- Total calculated
- $142,798
- From this org
- $142,798
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Stacey Benoit
Chief Operating Officer
- Total calculated
- $140,601
- From this org
- $140,601
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Chuck Karparis
Senior Vice President of Lending
- Total calculated
- $131,353
- From this org
- $131,353
- From related orgs
- $0
- Other
- $0
- Hours/week
- 45
-
Ethan Grimes
VP Mortgage Lending
- Total calculated
- $105,931
- From this org
- $105,931
- From related orgs
- $0
- Other
- $0
- Hours/week
- 45
-
Mary Hull
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Anne Marie HestnesHarris
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Gary Adamski
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Jeff Mobus
Board Chair/President
- Total calculated
- $0
- Hours/week
- 1
-
Owen Shindler
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Deborah Carpenter
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
John Sama
Board Member/Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Michael Cooney
Board Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Bob Kendall
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
James Valente
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Robin Sweetapple
Board Member
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Form 990 of other organizations
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Schedule J, Part I, Line 1a
- Small spousal/family expense reimbursement is allowed. Total expense in this area is typically $500. The CEO receives a country club membership which is included in his income figure.
- Schedule J, Part I, Line 3
- The VP of HR, CEO and Board of Directors compare CEO salaries using several resources to determine the accurate figure for our CEO.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 25 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202323019349300412
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