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Nonprofiteer
← PEOPLESCHOICE CREDIT UNION

Form 990 for tax year 2024

Filed by PEOPLESCHOICE CREDIT UNION.

Totals

Total revenue
$23,149,560
Total expenses
$21,528,239
Contributions and grants received
$0
Grants paid
$50,168
Program service revenue
$16,796,251
Investment income
$2,266,423
Other revenue
$4,086,886
Total assets, end of year
$352,670,156
Total liabilities, end of year
$332,816,263
Net assets or fund balances, end of year
$19,853,893
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: LOAN INCOME FROM MEMBERS

    total $16,796,251 · related or exempt $16,796,251

  • 3 · Investment income

    total $2,263,551 · excluded $2,263,551

  • 7a · Gross sales of assets other than inventory

    other assets $19,500

  • 7b · Less cost or other basis and sales expenses

    other assets $16,628

  • 7c · Gain or loss

    other assets $2,872

  • 7d · Net gain or loss

    total $2,872 · excluded $2,872

  • 11a · Other revenue: OTHER INCOME

    total $3,136,783 · related or exempt $3,136,783 · unrelated business $0

  • 11b · Other revenue: SERVICE CHARGES AND FEES

    total $827,829 · related or exempt $827,829

  • 11c · Other revenue: NON-MEMBER ATM FEES

    total $43,816 · unrelated business $43,816

  • 11d · All other revenue

    total $78,458 · unrelated business $78,458

  • 11e · Other revenue, total

    $4,086,886

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $50,168

  • 4 · Benefits paid to or for members

    total $6,949,938

  • 5 · Compensation of officers, directors and key employees

    total $759,889

  • 7 · Other salaries and wages

    total $4,787,756

  • 8 · Pension plan contributions

    total $186,051

  • 9 · Other employee benefits

    total $630,890

  • 10 · Payroll taxes

    total $356,012

  • 11b · Fees: legal

    total $20,930

  • 11c · Fees: accounting

    total $202,116

  • 11g · Fees: other

    total $1,952,414

  • 12 · Advertising and promotion

    total $508,594

  • 13 · Office expenses

    total $774,210

  • 16 · Occupancy

    total $490,196

  • 17 · Travel

    total $144,970

  • 19 · Conferences, conventions and meetings

    total $7,916

  • 22 · Depreciation, depletion and amortization

    total $688,791

  • 24a · Other expenses: PROVISION FOR BAD DEBTS

    total $1,508,743

  • 24b · Other expenses: LOAN SERVICING/COLLECTI

    total $1,395,089

  • 24c · Other expenses: ASSOCIATION DUES

    total $90,037

  • 24d · Other expenses: MISCELLANEOUS

    total $23,529

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,728,240 · end of year $3,963,173

  • 2 · Savings and temporary cash investments

    beginning of year $62,885,587 · end of year $52,188,574

  • 7 · Other notes and loans receivable

    beginning of year $266,634,132 · end of year $272,683,813

  • 10a · Land, buildings and equipment: cost or other basis

    $15,665,397

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,155,981

  • 10c · Land, buildings and equipment, net

    beginning of year $7,072,660 · end of year $6,509,416

  • 15 · Other assets

    beginning of year $15,982,043 · end of year $17,325,180

  • 17 · Accounts payable and accrued expenses

    beginning of year $953,928 · end of year $1,012,730

  • 23 · Secured mortgages and notes payable

    beginning of year $9,578,067 · end of year $4,500,000

  • 25 · Other liabilities

    beginning of year $328,021,425 · end of year $327,303,533

  • 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 $17,749,242 · end of year $19,853,893

Mission and programs · 2024

Mission

PEOPLE FIRST, ALWAYS.

Activities or mission (Part I)

PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES.

  • THE CREDIT UNION HAS 20,737 MEMBERS AS OF 12/31/2024. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lisa Parker

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Jeremy Ray

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Kimberly Titus

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Geoffrey Iacuessa

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Susan Deschambault

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Keegan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daniel Montembeau

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Craig Pendleton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Travis Vigneault

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Luke Labbe

    CEO

    Total calculated
    $481,790
    From this org
    $452,821
    From related orgs
    $0
    Other
    $28,969
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $371,594
    Bonus
    $73,100
    Other
    $8,127
    Deferred
    $0
    Nontaxable benefits
    $28,969
    Filer's total
    $481,790

  • Adam Warfel

    CFO

    Total calculated
    $278,098
    From this org
    $238,517
    From related orgs
    $0
    Other
    $39,581
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,504
    Bonus
    $31,500
    Other
    $513
    Deferred
    $10,612
    Nontaxable benefits
    $28,969
    Filer's total
    $278,098

  • Daniel Dallaire

    COO

    Total calculated
    $251,880
    From this org
    $212,438
    From related orgs
    $0
    Other
    $39,442
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,425
    Bonus
    $26,500
    Other
    $513
    Deferred
    $10,473
    Nontaxable benefits
    $28,969
    Filer's total
    $251,880

  • Kurt Schickle

    AVP MORTGAGE LENDING

    Total calculated
    $238,972
    From this org
    $227,633
    From related orgs
    $0
    Other
    $11,339
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,744
    Bonus
    $16,529
    Other
    $360
    Deferred
    $11,339
    Nontaxable benefits
    $0
    Filer's total
    $238,972

  • John Laverriere

    VP MARKETING & TECHNOLOGY

    Total calculated
    $175,033
    From this org
    $150,197
    From related orgs
    $0
    Other
    $24,836
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,500
    Bonus
    $14,233
    Other
    $1,464
    Deferred
    $7,664
    Nontaxable benefits
    $17,172
    Filer's total
    $175,033

  • Kyle Soule

    MORTGAGE LOAN OFFICER

    Total calculated
    $161,017
    From this org
    $140,739
    From related orgs
    $0
    Other
    $20,278
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $31,902
    Bonus
    $108,810
    Other
    $27
    Deferred
    $0
    Nontaxable benefits
    $20,278
    Filer's total
    $161,017

  • Mary Thibeault

    BRANCH MANAGER

    Total calculated
    $119,902
    From this org
    $109,027
    From related orgs
    $0
    Other
    $10,875
    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

  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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

Provenance

Return type
form_990
Tax year
2024
Filed
28 July 2025
IRS schema version
2024v5.2
Source object
202532139349300928

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