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Nonprofiteer
← ST MARY'S BANK CREDIT UNION

Form 990 for tax year 2025

Filed by ST MARY'S BANK CREDIT UNION.

Totals

Total revenue
$102,532,210
Total expenses
$87,093,012
Contributions and grants received
$0
Grants paid
$477,925
Program service revenue
$95,501,760
Investment income
$7,030,450
Other revenue
$0
Total assets, end of year
$1,735,430,057
Total liabilities, end of year
$1,564,714,424
Net assets or fund balances, end of year
$170,715,633
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 $79,262,375 · related or exempt $79,262,375

  • 2b · Program service revenue: SERVICE CHARGES

    total $12,474,607 · related or exempt $10,338,646 · unrelated business $2,135,961

  • 2c · Program service revenue: OTHER OPERATING INCOME

    total $3,764,778 · related or exempt $3,764,778

  • 3 · Investment income

    total $5,977,249 · excluded $5,977,249

  • 7a · Gross sales of assets other than inventory

    securities $54,985,559 · other assets $148,800

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

    securities $53,899,845 · other assets $181,313

  • 7c · Gain or loss

    securities $1,085,714 · other assets -$32,513

  • 7d · Net gain or loss

    total $1,053,201 · excluded $1,053,201

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $477,925

  • 4 · Benefits paid to or for members

    total $25,812,756

  • 5 · Compensation of officers, directors and key employees

    total $3,484,605

  • 7 · Other salaries and wages

    total $24,685,620

  • 8 · Pension plan contributions

    total $611,434

  • 9 · Other employee benefits

    total $3,962,334

  • 10 · Payroll taxes

    total $1,815,617

  • 11b · Fees: legal

    total $64,232

  • 11c · Fees: accounting

    total $851,478

  • 11g · Fees: other

    total $874,511

  • 12 · Advertising and promotion

    total $835,137

  • 13 · Office expenses

    total $1,267,010

  • 14 · Information technology

    total $71,442

  • 16 · Occupancy

    total $2,205,112

  • 17 · Travel

    total $292,462

  • 19 · Conferences, conventions and meetings

    total $155,567

  • 20 · Interest

    total $8

  • 22 · Depreciation, depletion and amortization

    total $3,347,898

  • 23 · Insurance

    total $241,741

  • 24a · Other expenses: OTHER EQUIPMENT

    total $6,296,112

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $3,020,758

  • 24c · Other expenses: DEBIT CARD EXPENSE

    total $1,807,995

  • 24d · Other expenses: CREDIT BUREAU/UNDERWRIT

    total $1,113,241

  • 24e · All other expenses

    total $3,798,017

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,424,198 · end of year $8,197,739

  • 2 · Savings and temporary cash investments

    beginning of year $117,761,394 · end of year $120,919,862

  • 4 · Accounts receivable

    beginning of year $5,213,882 · end of year $5,616,484

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,550,655 · end of year $3,184,069

  • 7 · Other notes and loans receivable

    beginning of year $1,365,008,516 · end of year $1,490,362,184

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,775,661 · end of year $2,626,387

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

    $52,249,342

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

    $26,735,231

  • 10c · Land, buildings and equipment, net

    beginning of year $24,488,861 · end of year $25,514,111

  • 11 · Investments: publicly traded securities

    beginning of year $19,760,665 · end of year $18,917,821

  • 12 · Investments: other securities

    beginning of year $6,420,181 · end of year $6,903,752

  • 15 · Other assets

    beginning of year $65,101,285 · end of year $53,187,648

  • 17 · Accounts payable and accrued expenses

    beginning of year $988,917 · end of year $1,018,271

  • 21 · Escrow or custodial account liability

    beginning of year -$23,974 · end of year $458,781

  • 23 · Secured mortgages and notes payable

    beginning of year $250,000 · end of year $250,000

  • 25 · Other liabilities

    beginning of year $1,465,251,112 · end of year $1,562,987,372

  • 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 $150,039,243 · end of year $170,715,633

Mission and programs · 2025

Mission

ST. MARY'S BANK'S MISSION IS TO HELP MEMBERS ACHIEVE THEIR FINANCIAL GOALS BY PROVIDING BEST-IN-MARKET SERVICE AND TRUSTED FINANCIAL ADVICE.

Activities or mission (Part I)

PROVIDE MEMBERS WITH DEPOSITS, LOANS, AND OTHER RELATED FINANCIAL SERVICES.

  • THE CREDIT UNION HAS 100,305 MEMBERS AS OF DECEMBER 31, 2025, MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW-COST, HIGH-QUALITY SERVICES.

  • ST. MARY'S BANK GIVES BACK TO THE COMMUNITY BY SUPPORTING, PROMOTING AND FURTHERING CHARITABLE, AND EDUCATIONAL PURPOSES, ACTIVITIES AND CAUSES IN NEW HAMPSHIRE, PRIMARILY IN THE CREDIT UNION'S PRIMARY SERVICE AREA. IN 2025, THE CREDIT UNION PROVIDED SUPPORT TO NUMEROUS COMMUNITY ORGANIZATIONS AND ALSO CONTRIBUTED $200,000 TO THE ST. MARY'S BANK CHARITABLE FOUNDATION.ST. MARY'S BANK'S CHARITABLE GIVING THEME, CHILDREN, FAMILIES, AND INDIVIDUALS IN NEED, IS OUR WAY OF FOCUSING AVAILABLE RESOURCES ON ACTIVITIES MOST RELEVANT TO OUR MISSION OF SERVICE TO CREDIT UNION MEMBERS AND THE COMMUNITY. IN 2025, OVER 175 ORGANIZATIONS WERE SUPPORTED THROUGH DONATIONS AND EVENT SPONSORSHIPS, TOTALING $224,052. CAUSES INCLUDE, BUT ARE NOT LIMITED TO, CHILDREN AND FAMILY, CULTURAL, FINANCIAL LITERACY, FINANCIAL INDEPENDENCE, AND HEALTH AND WELLNESS.ST. MARY'S BANK EMPLOYEES VOLUNTEERED 5,874 HOURS OF TIME, DURING WORKTIME AND ON THEIR OWN TIME IN 2025 TO A RANGE OF NON-PROFIT ORGANIZATIONS.

  • ST. MARY'S BANK PARTICIPATES WITH A NUMBER OF LENDER ORGANIZATIONS OFFERING HOMEOWNERSHIP PROGRAMS THAT ASSISTS THE UNDER-SERVED INCLUDING; NEW HAMPSHIRE HOUSING- FLEX AND PREFERRED PROGRAMS ALONG WITH FHA, INCLUDING CASH ASSISTANCE PROGRAMS, AND FNMA, HOME READY. ST. MARY'S BANK ALSO OFFERS PORTFOLIO FINANCING OPTIONS AND CONTINUES ITS "WELCOME HOME FIRST-TIME HOMEBUYER PROGRAM AND LOW TO NO DOWN PAYMENT OPTIONS.ADDITIONALLY ST. MARY'S WELCOME HOME PROGRAM IS DESIGNED TO ASSIST FIRST TIME HOME BUYERS WITH THE FOLLOWING FEATURES:-REDUCED INTERIM RATE CAPIN ADDITION TO IDENTIFYING LENDING OPPORTUNITIES FOR FIRST-TIME HOMEBUYERS, WE WILL ALSO CONTINUE TO FOCUS ON LENDING TO INCOME-ELIGIBLE FAMILIES. MORE SPECIFICALLY, LENDING TO FAMILIES WHOSE HOUSEHOLD INCOME IS AT OR BELOW 115% OF THE AREA MEDIAN FAMILY INCOME (DEFINED AND PUBLISHED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT).

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Elizabeth Hitchcock

    CHAIRMAN

    Total calculated
    $3,600
    From this org
    $3,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Donnalee Lozeau

    VICE CHAIRMAN

    Total calculated
    $5,900
    From this org
    $5,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Stephen A Baines

    DIRECTOR

    Total calculated
    $3,500
    From this org
    $3,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • William E Stevens

    DIRECTOR

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • David H Bellman

    DIRECTOR

    Total calculated
    $5,450
    From this org
    $5,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Guy D Chapdelaine

    DIRECTOR

    Total calculated
    $4,300
    From this org
    $4,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Craig S Donais

    DIRECTOR

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Diane P Fitzpatrick

    DIRECTOR

    Total calculated
    $3,250
    From this org
    $3,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jason E Cole

    DIRECTOR

    Total calculated
    $3,920
    From this org
    $3,920
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Stephen J Grzywacz

    CHAIRMAN (THRU 4/25)

    Total calculated
    $1,500
    From this org
    $1,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Gina M Balkus

    DIRECTOR (THRU 4/25)

    Total calculated
    $1,500
    From this org
    $1,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Kenneth Senus

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $898,155
    From this org
    $836,988
    From related orgs
    $0
    Other
    $61,167
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $583,194
    Bonus
    $235,303
    Other
    $18,491
    Deferred
    $12,935
    Nontaxable benefits
    $48,232
    Filer's total
    $898,155

  • Hoang Nguyen

    CFO & TREASURER

    Total calculated
    $454,223
    From this org
    $388,351
    From related orgs
    $0
    Other
    $65,872
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $327,915
    Bonus
    $60,000
    Other
    $436
    Deferred
    $11,979
    Nontaxable benefits
    $53,893
    Filer's total
    $454,223

  • Kyle A Schneck

    CHIEF LENDING OFFICER

    Total calculated
    $455,330
    From this org
    $391,408
    From related orgs
    $0
    Other
    $63,922
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $279,029
    Bonus
    $104,010
    Other
    $8,369
    Deferred
    $13,720
    Nontaxable benefits
    $50,202
    Filer's total
    $455,330

  • Pamela Roy

    CHIEF PEOPLE OFFICER

    Total calculated
    $377,731
    From this org
    $322,262
    From related orgs
    $0
    Other
    $55,469
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $235,599
    Bonus
    $84,788
    Other
    $1,875
    Deferred
    $8,619
    Nontaxable benefits
    $46,850
    Filer's total
    $377,731

  • Leo Simard

    CHIEF RETAIL BANKING OFFICER

    Total calculated
    $376,147
    From this org
    $355,974
    From related orgs
    $0
    Other
    $20,173
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $260,229
    Bonus
    $92,866
    Other
    $2,879
    Deferred
    $10,780
    Nontaxable benefits
    $9,393
    Filer's total
    $376,147

  • Tyler White

    CHIEF STRATEGY OFFICER

    Total calculated
    $545,131
    From this org
    $486,616
    From related orgs
    $0
    Other
    $58,515
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $331,874
    Bonus
    $154,088
    Other
    $654
    Deferred
    $11,814
    Nontaxable benefits
    $46,701
    Filer's total
    $545,131

  • Randy Sivigny

    SVP OF COMMERCIAL BANKING

    Total calculated
    $334,567
    From this org
    $295,537
    From related orgs
    $0
    Other
    $39,030
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $197,607
    Bonus
    $97,322
    Other
    $608
    Deferred
    $6,969
    Nontaxable benefits
    $32,061
    Filer's total
    $334,567

  • Biren Patel

    SR WEALTH MANAGMENT ADVISOR

    Total calculated
    $654,757
    From this org
    $602,143
    From related orgs
    $0
    Other
    $52,614
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $59,578
    Bonus
    $542,482
    Other
    $83
    Deferred
    $6,975
    Nontaxable benefits
    $45,639
    Filer's total
    $654,757

  • Ronald MacDonald

    SVP OF IND CONS LENDING

    Total calculated
    $355,333
    From this org
    $318,780
    From related orgs
    $0
    Other
    $36,553
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $235,439
    Bonus
    $77,802
    Other
    $5,539
    Deferred
    $6,924
    Nontaxable benefits
    $29,629
    Filer's total
    $355,333

  • Michael Beck

    WEALTH MANAGEMENT ADVISOR

    Total calculated
    $363,620
    From this org
    $349,883
    From related orgs
    $0
    Other
    $13,737
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $42,921
    Bonus
    $304,232
    Other
    $2,730
    Deferred
    $5,104
    Nontaxable benefits
    $8,633
    Filer's total
    $363,620

  • Steven Macek

    SVP OF CONSUMER LENDING

    Total calculated
    $304,787
    From this org
    $263,186
    From related orgs
    $0
    Other
    $41,601
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $198,705
    Bonus
    $59,073
    Other
    $5,408
    Deferred
    $9,527
    Nontaxable benefits
    $32,074
    Filer's total
    $304,787

  • Karen Mayrand

    DIRECTOR OF RESIDENTIAL LENDING

    Total calculated
    $268,628
    From this org
    $266,281
    From related orgs
    $0
    Other
    $2,347
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $196,470
    Bonus
    $58,305
    Other
    $11,506
    Deferred
    $0
    Nontaxable benefits
    $2,347
    Filer's total
    $268,628

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 · Compensation committee
  • 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 4B
KENNETH SENUS PARTICIPATED IN A 457(F) PLAN AND RECEIVED $0 DURING 2025

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • RIVERSIDE FINANCIAL SERVICES INC

    C · INACTIVE · NH · 100% owned · share of assets $1,344 · controlled entity

    Directly controlled by ST MARY'S BANK CREDIT UNION

Provenance

Return type
form_990
Tax year
2025
Filed
9 July 2026
IRS schema version
2025v4.2
Source object
202611919349301201

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