Totals
- Total revenue
- $23,598,688
- Total expenses
- $20,551,841
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $16,921,906
- Investment income
- $3,327,791
- Other revenue
- $3,348,991
- Total assets, end of year
- $358,165,631
- Total liabilities, end of year
- $324,765,719
- Net assets or fund balances, end of year
- $33,399,912
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
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: INTEREST INCOME
total $13,052,222 · related or exempt $13,052,222
-
2b · Program service revenue: MEMBER SERVICE FEES
total $3,869,684 · related or exempt $3,869,684
-
3 · Investment income
total $3,345,492 · excluded $3,345,492
-
7a · Gross sales of assets other than inventory
securities $138,981
-
7b · Less cost or other basis and sales expenses
securities $147,098 · other assets $9,584
-
7c · Gain or loss
securities -$8,117 · other assets -$9,584
-
7d · Net gain or loss
total -$17,701 · excluded -$17,701
-
11a · Other revenue: MISCELLANEOUS FEE INCOME
total $2,836,605 · related or exempt $2,836,605
-
11b · Other revenue: ATM FEES
total $303,330 · related or exempt $29,204 · unrelated business $274,126
-
11c · Other revenue: INSURANCE INCOME
total $209,056 · unrelated business $209,056
-
11e · Other revenue, total
$3,348,991
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $1,207,541
-
5 · Compensation of officers, directors and key employees
total $912,890
-
7 · Other salaries and wages
total $7,966,275
-
8 · Pension plan contributions
total $668,954
-
9 · Other employee benefits
total $957,144
-
10 · Payroll taxes
total $628,533
-
11b · Fees: legal
total $33,764
-
11c · Fees: accounting
total $180,734
-
11g · Fees: other
total $509,452
-
12 · Advertising and promotion
total $550,267
-
14 · Information technology
total $250,298
-
16 · Occupancy
total $1,417,672
-
17 · Travel
total $175,171
-
20 · Interest
total $4,373
-
22 · Depreciation, depletion and amortization
total $896,368
-
23 · Insurance
total $163,471
-
24a · Other expenses: OTHER OPERATING EXPENSE
total $2,966,351
-
24b · Other expenses: PROVISION FOR LOAN LOSS
total $1,062,583
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,327,300 · end of year $4,519,344
-
2 · Savings and temporary cash investments
beginning of year $102,886,530 · end of year $55,483,600
-
5 · Loans and receivables from officers and key people
beginning of year $956,327 · end of year $956,327
-
7 · Other notes and loans receivable
beginning of year $226,006,593 · end of year $263,852,296
-
9 · Prepaid expenses and deferred charges
beginning of year $760,150 · end of year $869,975
-
10a · Land, buildings and equipment: cost or other basis
$20,855,731
-
10b · Land, buildings and equipment: accumulated depreciation
$10,561,435
-
10c · Land, buildings and equipment, net
beginning of year $10,557,463 · end of year $10,294,296
-
11 · Investments: publicly traded securities
beginning of year $5,779,621 · end of year $5,386,381
-
12 · Investments: other securities
beginning of year $7,016,057 · end of year $6,738,298
-
15 · Other assets
beginning of year $9,983,846 · end of year $10,065,114
-
17 · Accounts payable and accrued expenses
beginning of year $5,266,059 · end of year $7,126,447
-
21 · Escrow or custodial account liability
beginning of year $50,123 · end of year $370,048
-
25 · Other liabilities
beginning of year $331,963,717 · end of year $317,269,224
-
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 $30,993,988 · end of year $33,399,912
Mission and programs · 2023
Mission
DELIVERING TRUE CONVENIENCE THROUGH EXTENDED HOURS, MODERN & TRADITIONAL BANKING SERVICES AND TRUSTED SOLUTIONS.
-
FIVE COUNTY CREDIT UNION'S FIELD OF MEMBERSHIP INCLUDES PERSONS WHO LIVE OR WORK IN THE COUNTIES OF ANDROSCOGGIN, CUMBERLAND, LINCOLN, KENNEBEC, SAGADAHOC, WALDO, SOMERSET, AND KNOX, MAINE, ALL ACTIVE AND RETIRED EMPLOYEES OF BATH IRON WORKS, AND RELATIVES OF ELIGIBLE MEMBERS. THE CREDIT UNION'S PRIMARY ACTIVITY IS PROVIDING LOANS TO MEMBERS AND THEIR FAMILIES. AS OF 12/31/23, FIVE COUNTY CREDIT UNION SERVES 29,650 MEMBERS AND HAS TOTAL DEPOSITS OF $317,149,354. IN ADDITION, THE CREDIT UNION HAS 22,511 OUTSTANDING LOANS TO MEMBERS WITH A TOTAL BALANCE OF $265,490,599 AT 12/31/2023.
As filed on the 2023 return.
Listed in Part VII
-
Robert BrewerROBERT BREWER
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Merlin SuggsMERLIN SUGGS
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Mona FaulterMONA FAULTER
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Bruce WilsonBRUCE WILSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
A BosicaA BOSICA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Peter DecourcyPETER DECOURCY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sam MaySAM MAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Julie A MarquisJULIE A MARQUIS
PRESIDENT & CEO
- Total calculated
- $604,384
- From this org
- $550,983
- From related orgs
- $0
- Other
- $53,401
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $303,782
- Bonus
- $55,907
- Other
- $191,294
- Deferred
- $30,762
- Nontaxable benefits
- $22,639
- Filer's total
- $604,384
-
Kenneth H StockfordKENNETH H STOCKFORD
SVP FINANCE & TECHNOLOGY/C
- Total calculated
- $308,506
- From this org
- $273,046
- From related orgs
- $0
- Other
- $35,460
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $157,011
- Bonus
- $33,119
- Other
- $82,916
- Deferred
- $17,029
- Nontaxable benefits
- $18,431
- Filer's total
- $308,506
-
Terri RyanTERRI RYAN
SVP ADMINISTRATION
- Total calculated
- $231,382
- From this org
- $196,771
- From related orgs
- $0
- Other
- $34,611
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $157,666
- Bonus
- $28,533
- Other
- $10,572
- Deferred
- $18,532
- Nontaxable benefits
- $16,079
- Filer's total
- $231,382
-
Michael FoleyMICHAEL FOLEY
SVP SUPPORT SERVICES
- Total calculated
- $289,534
- From this org
- $256,285
- From related orgs
- $0
- Other
- $33,249
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $151,144
- Bonus
- $28,388
- Other
- $76,753
- Deferred
- $15,951
- Nontaxable benefits
- $17,298
- Filer's total
- $289,534
-
Lynn FarmerLYNN FARMER
SVP HUMAN RESOURCES
- Total calculated
- $199,810
- From this org
- $174,848
- From related orgs
- $0
- Other
- $24,962
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $139,621
- Bonus
- $28,195
- Other
- $7,032
- Deferred
- $16,715
- Nontaxable benefits
- $8,247
- Filer's total
- $199,810
-
Jennifer AndersenJENNIFER ANDERSEN
SVP RETAIL SERVICES
- Total calculated
- $254,091
- From this org
- $225,779
- From related orgs
- $0
- Other
- $28,312
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $174,808
- Bonus
- $28,202
- Other
- $22,769
- Deferred
- $14,513
- Nontaxable benefits
- $13,799
- Filer's total
- $254,091
-
Patty DuffyPATTY DUFFY
HIGHEST COMPENSATED EMPLOYEE
- Total calculated
- $123,738
- From this org
- $115,913
- From related orgs
- $0
- Other
- $7,825
- Hours/week
- 40
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 · Tax indemnification and gross-up payments
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Independent compensation consultant
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINE 1A
- GROSS-UP PAYMENTS ON SERPS.
- PART I, LINE 4B
- TERRI AND LYNN PARTICIPATE IN 457(F).
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
- 2023
- Filed
- 11 September 2024
- IRS schema version
- 2023v5.1
- Source object
- 202412569349300611
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