2024-09-09T11:47:45-05:00 2023-12-31 010448006 ALBIN RANDALL & BENNETT PO BOX 445 130 MIDDLE STREET PORTLAND ME 041120445 990 2023-01-01 016028792 UNIVERSITY CREDIT UNION UNIV 2078898600 15 MAIN STREET ORONO ME 04473 RENEE OUELLETTE PRESIDENT/CEO 2078898600 2024-08-05 1 0 ROBIN L CYR P01261639 2077721981 2024-05-29 2023 2024-08-08 14:25:15Z RENEE OUELLETTE 15 MAIN STREET ORONO ME 04473 29365987 0 X WWW.UCUMAINE.COM X 1967 ME HERE FOR U - DEDICATED TO PROMOTE FINANCIAL WELL-BEING FOR YOU AND YOUR COMMUNITY. 7 7 107 9 128351 61 0 0 19781608 22392736 1283976 1858866 0 -4818 21065584 24246784 32750 0 815735 2807191 8726856 9268704 0 0 0 8308249 10384503 17883590 22460398 3181994 1786386 459586136 480026796 423242537 441339429 36343599 38687367 HERE FOR U - DEDICATED TO PROMOTE FINANCIAL WELL-BEING FOR YOU AND YOUR COMMUNITY. 0 0 THE CREDIT UNION HAS 28,766 MEMBERS AS OF 12/31/2023. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 10243 0 1 107 0 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X RENEE OUELLETTE 2078898600 15 MAIN STREET ORONO ME 04473 PICKERING TONYA DIRECTOR 1.00 X 0 0 0 BAILLARGEON STEVE DIRECTOR 1.00 X 0 0 0 HARR LUCY DIRECTOR 1.00 X 0 0 0 BORGMAN RICHARD DIRECTOR 1.00 X 0 0 0 HENDERSON JON VICE CHAIRPERSON 1.00 X X 0 0 0 WHITEHILL ENCY CHAIRPERSON 1.00 X X 0 0 0 CHENEY CAROLYN SECRETARY 1.00 X X 0 0 0 OUELLETTE RENEE D PRESIDENT & CEO 40.00 X 380397 0 59340 WHITE-RIDEOUT DEB EXEC VICE PRESIDENT 40.00 X 223103 0 45107 WILLIAMS ROBERT CHIEF FINANCIAL OFFICER 40.00 X 194820 0 43023 GLEASON APRIL CHIEF LENDING OFFICER 40.00 X 169343 0 40725 BYRAM EILEEN CHIEF RISK OFFICER 40.00 X 160056 0 36385 FREIWALD PATRICIA FINANCIAL ADVISOR 40.00 X 158433 0 13285 WARD MARTHA VP OF TECHNOLOGY& DIGITAL EXPERIENCE 40.00 X 125569 0 38060 BECK STEPHANIE VP OF MARKETING & DEVELOPMENT 40.00 X 140502 0 12416 RUCKER KYLE MORTGAGE ORIGINATION MANAGER 40.00 X 111525 0 25460 CARLISLE C JASON MORTGAGE LOAN ORIGINATOR 40.00 X 115547 0 14418 1779295 0 328219 10 0 1 0 SYNERGENT 2 LEDGEVIEW DR WESTBROOK ME 04092 DATA PROCESSING 1518605 PORTLAND SAFE CONSULTING & DESIGN INC 3 MALLISON FALLS RD WINDHAM ME 04062 EQUIPMENT & SERVICE SUPPORT 261172 M2 THE AGENCY INC 18001 HWY 105 WEST STE 214 MONTGOMERY TX 77356 MARKETING 219476 SYSTEMS ENGINEERING 120 EXCHANGE ST PORTLAND ME 04101 IT SUPPORT 197991 OTELCO 56 CAMPUS DR NEW GLOUCESTER ME 04260 COMMUNICATIONS 154302 5 LOAN/FEE INCOME FROM MEMBERS 522100 18101111 18094670 6441 CHECK CARD 522100 2181488 2181488 OVERDRAFT FEES 522100 1502073 1502073 OTHER BANK FEES AND INCOME 522100 442988 398372 44616 ATM FEES 522100 165076 88843 76233 22392736 1729836 1061 1728775 28534 33352 -4818 -4818 -4818 118273 5096608 114535 4971316 3738 125292 129030 129030 24246784 22389658 128351 1728775 2807191 1351310 6022654 395506 973951 525283 73214 31944 339645 725941 676558 120719 1965346 754614 13402 OPERATIONS EXPENSE 4766435 LOAN SERVICE EXPENSE 537252 TRAINING AND OTHER G&A 247935 PROVISION FOR LOAN LOSS 131498 22460398 17100372 31669381 3011879 3066820 380906575 382717531 16567322 9367249 6965570 7200073 41995237 45759872 9606503 9613119 459586136 480026796 2652444 4518951 1986508 1948251 37000000 73000000 381603585 361872227 423242537 441339429 X 0 0 0 0 36343599 38687367 36343599 38687367 459586136 480026796 X 1786386 524030 33352 X 0 1 X 1 0 1 321974 1176965 1178024 320915 1 X 1800604 1800604 8104027 3630918 4473109 819452 725840 93612 5531962 4973270 558692 311277 37221 274056 7200073 INVESTMENT SECURITIES AVAILABLE FOR SALE 42486746 F INVESTMENT SECURITIES HELD TO MATURITY 1700627 F FEDERAL HOME LOAN BANK OF BOSTON STOCK 1229800 F INVESTMENTS - EQUITY SECURITIES 342699 F 45759872 MEMBERS' SHARE AND SAVINGS ACCOUNT 360918773 LEASE OBLIGATION 953454 361872227 24804166 524030 33352 557382 24246784 0 24246784 22460398 0 22460398 0 22460398 PART IV, LINE 1B: UCU SELLS MORTGAGES TO FANNIE MAE (FNMA) AND THE FEDERAL HOME LOAN BANK (FHLB)I BUT RETAINS THE SERVICING. UCU ACCEPTS THE MORTGAGE PAYMENTS ON BEHALF OF FNMA AND FHLB AND REMITS THE P&I PORTIONS OF THOSE TO THE RESPECTIVE ENTITY ON A DAILY BASIS. THE T&I (OR ESCROW) PORTION OF THE PAYMENTS IS RETAINED IN A CUSTODIAL ACCOUNT AT UCU. UCU DISBURSES PAYMENTS TO THE RESPECTIVE CITY/TOWN AND INSURANCE COMPANIES AS PER THE MORTGAGE ESCROW AGREEMENTS OUT OF THE CUSTODIAL ACCOUNT. CUSTODIAL ACCOUNTS ARE RECONCILED AND REPORTED TO THE FNMA AND FHLB MONTHLY. PART IV, LINE 2B: ESCROW ACCOUNTS FOR MORTGAGES PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 33,352. 1 X X X 0 0 0 OUELLETTE RENEE D PRESIDENT & CEO 353029 0 13542 0 13826 0 29597 0 29743 0 439737 0 0 0 WHITE-RIDEOUT DEB EXEC VICE PRESIDENT 213797 0 8478 0 828 0 17664 0 27443 0 268210 0 0 0 WILLIAMS ROBERT CHIEF FINANCIAL OFFICER 187387 0 7109 0 324 0 15580 0 27443 0 237843 0 0 0 GLEASON APRIL CHIEF LENDING OFFICER 162064 0 6451 0 828 0 13529 0 27196 0 210068 0 0 0 BYRAM EILEEN CHIEF RISK OFFICER 152951 0 6279 0 826 0 12342 0 24043 0 196441 0 0 0 FREIWALD PATRICIA FINANCIAL ADVISOR 81310 0 76945 0 178 0 12758 0 527 0 171718 0 0 0 WARD MARTHA VP OF TECHNOLOGY& DIGITAL EXPERIENCE 123027 0 1990 0 552 0 7478 0 30582 0 163629 0 0 0 BECK STEPHANIE VP OF MARKETING & DEVELOPMENT 134656 0 5606 0 240 0 11310 0 1106 0 152918 0 0 0 DEB WHITE-RIDEOUT OFFICER SPLIT DOLLAR LIFE INSURANCE AGREEMENT LOAN X 445000 536179 0 1 1 DEB WHITE-RIDEOUT OFFICER SPLIT DOLLAR LIFE INSURANCE AGREEMENT LOAN X 905500 938563 0 1 1 RENEE OUELLETTE OFFICER SPLIT DOLLAR LIFE INSURANCE AGREEMENT LOAN X 450000 489633 0 1 1 RENEE OUELLETTE OFFICER SPLIT DOLLAR LIFE INSURANCE AGREEMENT LOAN X 616000 638667 0 1 1 EILEEN BYRAM OFFICER SPLIT DOLLAR LIFE INSURANCE AGREEMENT LOAN X 445000 463778 0 1 1 3066820 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS IN BUSINESS TO SERVE ITS MEMBERS, WHICH IS MADE UP OF THE STUDENTS, EMPLOYEES AND ALUMNI OF THE UNIVERSITY OF MAINE SYSTEM, MAINE MARITIME ACADEMY, PENOBSCOT COUNTY SCHOOL DISTRICTS, NORTHEAST TECHNICAL INSTITUTE, THE LANDING SCHOOL, COSMOTECH, PRINT MAIL OF MAINE, USA UNION STREET ATHLETICS, GENERAL ELECTRIC POWER SYSTEMS OF BANGOR, AND THE MAINE CONSUMER COUNCIL. MEMBERSHIP IS ALSO AVAILABLE TO THE FAMILIES OF THESE GROUPS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE GOVERNING BODY ARE NOMINATED AND WHEN APPLICABLE VOTED IN BY MEMBERS OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN DECISIONS ARE SUBJECT TO THE APPROVAL OF THE MEMBERS OF THE ORGANIZATION, SUCH AS THE DECISION TO MERGE WITH ANOTHER ENTITY. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 WAS PROVIDED TO THE GOVERNING BODY WITH AVAILABLE TIME FOR REVIEW AND DISCUSSION BEFORE FILING. THE RETURN WAS REVIEWED BY THE ACCOUNTING MANAGER AND CHIEF FINANCIAL OFFICER. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST STATEMENT IS SIGNED AND ISSUES ARE ADDRESSED AS THEY ARISE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE ORGANIZATION'S PRESIDENT/CEO AND ALL OTHER EMPLOYEE COMPENSATION IS DETERMINED WITH COMPARABILITY DATA SUCH AS A COMPENSATION SURVEY OR STUDY. THE PRESIDENT/CEO COMPENSATION IS SUBJECT TO APPROVAL OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED ONSITE AT ALL PUBLIC LOCATIONS. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: RENTAL EXPENSES 33,352.