Totals
- Total revenue
- $21,853,203
- Total expenses
- $18,528,989
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $16,298,081
- Investment income
- $1,726,539
- Other revenue
- $3,828,583
- Total assets, end of year
- $495,681,435
- Total liabilities, end of year
- $460,931,699
- Net assets or fund balances, end of year
- $34,749,736
- 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 $14,307,643 · related or exempt $14,307,643
-
2b · Program service revenue: FEE INCOME
total $1,990,438 · related or exempt $1,990,438
-
3 · Investment income
total $1,726,539 · excluded $1,726,539
-
11a · Other revenue: ATM INTERCHANGE INCOME
total $3,483,469 · related or exempt $3,447,298 · unrelated business $36,171
-
11b · Other revenue: OTHER INCOME
total $345,114 · related or exempt $269,814 · unrelated business $75,300
-
11e · Other revenue, total
$3,828,583
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $1,331,013
-
5 · Compensation of officers, directors and key employees
total $1,223,124
-
7 · Other salaries and wages
total $6,427,920
-
8 · Pension plan contributions
total $468,840
-
9 · Other employee benefits
total $1,214,550
-
10 · Payroll taxes
total $564,014
-
11b · Fees: legal
total $42,571
-
11c · Fees: accounting
total $80,000
-
11g · Fees: other
total $2,629,260
-
12 · Advertising and promotion
total $683,336
-
13 · Office expenses
total $946,256
-
16 · Occupancy
total $1,104,216
-
17 · Travel
total $58,766
-
19 · Conferences, conventions and meetings
total $56
-
22 · Depreciation, depletion and amortization
total $644,336
-
23 · Insurance
total $132,812
-
24a · Other expenses: LOAN SERVICING
total $512,943
-
24b · Other expenses: PROVISION FOR LOAN LOSS
total $315,000
-
24c · Other expenses: OTHER EXPENSES
total $54,967
-
24d · Other expenses: DUES AND SUBSCRIPTIONS
total $44,067
-
24e · All other expenses
total $50,942
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,670,038 · end of year $5,481,943
-
2 · Savings and temporary cash investments
beginning of year $65,758,865 · end of year $50,857
-
4 · Accounts receivable
beginning of year $108,200 · end of year $284,108
-
5 · Loans and receivables from officers and key people
beginning of year $8,216,344 · end of year $8,349,039
-
7 · Other notes and loans receivable
beginning of year $299,900,212 · end of year $375,822,601
-
9 · Prepaid expenses and deferred charges
beginning of year $1,128,688 · end of year $1,664,182
-
10a · Land, buildings and equipment: cost or other basis
$15,305,194
-
10b · Land, buildings and equipment: accumulated depreciation
$5,526,216
-
10c · Land, buildings and equipment, net
beginning of year $10,250,200 · end of year $9,778,978
-
12 · Investments: other securities
beginning of year $74,697,470 · end of year $90,865,821
-
15 · Other assets
beginning of year $2,890,775 · end of year $3,383,906
-
17 · Accounts payable and accrued expenses
beginning of year $798,504 · end of year $613,189
-
24 · Unsecured notes and loans payable
end of year $469,425
-
25 · Other liabilities
beginning of year $432,396,766 · end of year $459,849,085
-
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 $31,425,522 · end of year $34,749,736
Mission and programs · 2022
Mission
PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES.
-
THE CREDIT UNION HAS 28,025 MEMBERS AS OF 12/31/2022. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES.
As filed on the 2022 return.
Listed in Part VII
-
Sandra LipseySANDRA LIPSEY
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Rachel GreenRACHEL GREEN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Julie NataleJULIE NATALE
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Robert DorrROBERT DORR
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Eric KingERIC KING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jim WilsonJIM WILSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ruth WalshRUTH WALSH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chris DoeCHRIS DOE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jason LindstromJASON LINDSTROM
CEO
- Total calculated
- $416,946
- From this org
- $369,650
- From related orgs
- $0
- Other
- $47,296
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $290,934
- Bonus
- $78,716
- Other
- $0
- Deferred
- $21,350
- Nontaxable benefits
- $25,946
- Filer's total
- $416,946
-
Kathleen ArchambaultKATHLEEN ARCHAMBAULT
CFO
- Total calculated
- $288,204
- From this org
- $261,168
- From related orgs
- $0
- Other
- $27,036
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $253,301
- Bonus
- $7,867
- Other
- $0
- Deferred
- $18,033
- Nontaxable benefits
- $9,003
- Filer's total
- $288,204
-
Timothy VerreaultTIMOTHY VERREAULT
COO
- Total calculated
- $308,762
- From this org
- $271,139
- From related orgs
- $0
- Other
- $37,623
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $261,772
- Bonus
- $9,367
- Other
- $0
- Deferred
- $18,817
- Nontaxable benefits
- $18,806
- Filer's total
- $308,762
-
Jere ShawJERE SHAW
VP CML LENDING
- Total calculated
- $209,212
- From this org
- $179,780
- From related orgs
- $0
- Other
- $29,432
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $157,644
- Bonus
- $22,136
- Other
- $0
- Deferred
- $12,536
- Nontaxable benefits
- $16,896
- Filer's total
- $209,212
-
Denis KnoxDENIS KNOX
VP LENDING
- Total calculated
- $206,349
- From this org
- $167,923
- From related orgs
- $0
- Other
- $38,426
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $155,224
- Bonus
- $12,699
- Other
- $0
- Deferred
- $11,722
- Nontaxable benefits
- $26,704
- Filer's total
- $206,349
-
Cathy LestageCATHY LESTAGE
SVP OF HR
- Total calculated
- $196,331
- From this org
- $166,175
- From related orgs
- $0
- Other
- $30,156
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $156,528
- Bonus
- $9,647
- Other
- $0
- Deferred
- $11,496
- Nontaxable benefits
- $18,660
- Filer's total
- $196,331
-
Nathan DavisNATHAN DAVIS
VP OF IT
- Total calculated
- $197,097
- From this org
- $159,365
- From related orgs
- $0
- Other
- $37,732
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,232
- Bonus
- $12,133
- Other
- $0
- Deferred
- $11,135
- Nontaxable benefits
- $26,597
- Filer's total
- $197,097
-
Richard FolseRICHARD FOLSE
VP OF BRANCH ADMINISTRATIO
- Total calculated
- $181,310
- From this org
- $152,083
- From related orgs
- $0
- Other
- $29,227
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $134,023
- Bonus
- $18,060
- Other
- $0
- Deferred
- $10,568
- Nontaxable benefits
- $18,659
- Filer's total
- $181,310
-
Howard LowellHOWARD LOWELL
VP OF MARKETING
- Total calculated
- $168,875
- From this org
- $154,332
- From related orgs
- $0
- Other
- $14,543
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,216
- Bonus
- $7,116
- Other
- $0
- Deferred
- $5,678
- Nontaxable benefits
- $8,865
- Filer's total
- $168,875
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 · 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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 31 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202323189349313982
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