MAINE STATE CREDIT UNION: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization: MAINE STATE CREDIT UNION (EIN 01-0196194)
Tax period: 2023-01-01 to 2023-12-31
Filed: 2024-10-16
IRS object ID: 202422909349301602
Schema version: 2023v5.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule G
Schedule I
Schedule J
Schedule L
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2024-10-16T12:49:14-05:00	ReturnTs
Tax Period End	2023-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	390758449	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	WIPFLI LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	30 LONG CREEK DRIVE	AddressLine1Txt
City	SOUTH PORTLAND	CityNm
State Abbreviation	ME	StateAbbreviationCd
ZIP	041062437	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2023-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	010196194	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	MAINE STATE CREDIT UNION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	MAIN	BusinessNameControlTxt
Phone	8005408707	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 5659	AddressLine1Txt
City	AUGUSTA	CityNm
State Abbreviation	ME	StateAbbreviationCd
ZIP	043325659	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	JASON HILT	PersonNm
Person Title	INTERIM CFO	PersonTitleTxt
Phone	8005408707	PhoneNum
Signature	2024-10-15	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	Yes (1)	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	JULIA HOWLAND CPA	PreparerPersonNm
PTIN	P01711658	PTIN
Phone	2077745701	PhoneNum
Preparation	2024-10-15	PreparationDt

Field	Value	IRS element (for citing)
Tax	2023	TaxYr
Build TS	2024-10-15 13:58:12Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	STEPHEN WALLACE	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 5659	AddressLine1Txt
City	AUGUSTA	CityNm
State Abbreviation	ME	StateAbbreviationCd
ZIP	043325659	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$40,533,071	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	WWW.MAINESTATECU.ORG	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1935	FormationYr
Legal Domicile State	ME	LegalDomicileStateCd
Activity Or Mission	PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES.	ActivityOrMissionDesc
Voting Members Governing Body	10	VotingMembersGoverningBodyCnt
Voting Members Independent	10	VotingMembersIndependentCnt
Total Employee	154	TotalEmployeeCnt
Total Volunteers	10	TotalVolunteersCnt
Total Gross UBI	$142,247	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$44,115	PYContributionsGrantsAmt
CY Contributions Grants	$55,840	CYContributionsGrantsAmt
PY Program Service Revenue	$17,601,865	PYProgramServiceRevenueAmt
CY Program Service Revenue	$21,860,081	CYProgramServiceRevenueAmt
PY Investment Income	$2,218,674	PYInvestmentIncomeAmt
CY Investment Income	$3,207,024	CYInvestmentIncomeAmt
PY Other Revenue	$4,383,727	PYOtherRevenueAmt
CY Other Revenue	$5,108,727	CYOtherRevenueAmt
PY Total Revenue	$24,248,381	PYTotalRevenueAmt
CY Total Revenue	$30,231,672	CYTotalRevenueAmt
PY Grants And Similar Paid	$85,040	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$202,037	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$2,798,098	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$7,021,981	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$8,355,070	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$10,617,031	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$9,666,648	PYOtherExpensesAmt
CY Other Expenses	$10,941,248	CYOtherExpensesAmt
PY Total Expenses	$20,904,856	PYTotalExpensesAmt
CY Total Expenses	$28,782,297	CYTotalExpensesAmt
PY Revenues Less Expenses	$3,343,525	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$1,449,375	CYRevenuesLessExpensesAmt
Total Assets BOY	$586,697,194	TotalAssetsBOYAmt
Total Assets EOY	$643,067,217	TotalAssetsEOYAmt
Total Liabilities BOY	$534,910,747	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$588,613,489	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$51,786,447	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$54,453,728	NetAssetsOrFundBalancesEOYAmt
Mission	PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Desc	THE CREDIT UNION HAS 35,440 MEMBERS AS OF 12/31/2023. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES.	Desc
Described In Section501c3	0	DescribedInSection501c3Ind
Schedule B Required	0	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	Yes (1)	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	0	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (1)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	Yes (1)	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	Yes (1)	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	Yes (1)	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Loan Outstanding	Yes (1)	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	11099	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	154	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (1)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (1)	Form990TFiledInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	10	GoverningBodyVotingMembersCnt
Independent Voting Member	10	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (1)	MembersOrStockholdersInd
Election Of Board Members	Yes (1)	ElectionOfBoardMembersInd
Decisions Subject To Approva	Yes (1)	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	0	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	Yes (1)	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	JASON HILT	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	8005408707	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 5659	AddressLine1Txt
City	AUGUSTA	CityNm
State Abbreviation	ME	StateAbbreviationCd
ZIP	043325659	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (22 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Highest Compensated EmployeeHighestCompensatedEmployeeInd
ERIC POIRIER
CHAIRPERSON	1.00	Yes (X)	Yes (X)	$0	$0	$0
ROLAND MAHEUX
VICE CHAIRPERSON	1.00	Yes (X)	Yes (X)	$0	$0	$0
GEORGE LAPOINTE
TREASURER	1.00	Yes (X)	Yes (X)	$0	$0	$0
LIZ OUELLETTE
SECRETARY	1.00	Yes (X)	Yes (X)	$0	$0	$0
LEONARD CABANA
DIRECTOR	1.00	Yes (X)		$0	$0	$0
GARY CROCKER
DIRECTOR	1.00	Yes (X)		$0	$0	$0
THOMAS CUSICK
DIRECTOR	1.00	Yes (X)		$0	$0	$0
SU LEIGH
DIRECTOR THRU JULY 23'	1.00	Yes (X)		$0	$0	$0
DUNCAN MACKELLAR
DIRECTOR	1.00	Yes (X)		$0	$0	$0
MICHAEL RODERIGUE
DIRECTOR	1.00	Yes (X)		$0	$0	$0
JAMES SOUCIE
DIRECTOR	1.00	Yes (X)		$0	$0	$0
STEPHEN WALLACE
PRESIDENT/CEO	40.00		Yes (X)	$359,023	$0	$46,440
ERIN CAMPBELL
SVP/CFO THRU SEPT 23'	40.00		Yes (X)	$252,715	$0	$34,039
ADAM KAVANAGH
SVP/COO THRU SEPT 23'	40.00		Yes (X)	$233,444	$0	$33,396
BRIE MELLOR
SVP/CHIEF LENDING OFFICER	40.00		Yes (X)	$173,153	$0	$37,351
SHANE ABBOTT
SVP/CHIEF RETAIL OFFICER	40.00		Yes (X)	$172,825	$0	$37,985
JASON HILT
VP OF FINANCE/INTERIM CFO	40.00		Yes (X)	$109,677	$0	$17,670
BRUCE HARRINGTON
VP OF COMMERICAL LENDING	40.00			$148,453	$0	$38,244	Yes (X)
JEFFREY CHARLAND
VP COMMERCIAL LOAN OFFICER	40.00			$140,867	$0	$9,070	Yes (X)
JENNIFER ROPER
VP OF MARKETING	40.00			$130,560	$0	$8,539	Yes (X)
JENNIFER BECHARD
VP OF HUMAN RESOURCES	40.00			$123,251	$0	$33,223	Yes (X)
AMANDA CROMMETT
VP OF ORG. DEVELOPMENT	40.00			$116,303	$0	$16,655	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$1,960,271	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$312,612	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	12	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (1)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
SYNERGENT
2 LEDGEVIEW DR	WESTBROOK	ME	04092	DATA PROCESSING	$1,650,645
WORKGROUP TECHNOLOGY PARTNERS INC
PO BOX 110	WESTBROOK	ME	04098	MANAGED IT SERVICES	$420,780
ALKAMI TECHNOLOGY INC
5601 GRANITE PKWY STE 120	PLANO	TX	75024	DATA PROCESSING	$406,630
JACK HENRY & ASSOCIATES INC
PO BOX 609	MONETT	MO	65708	FINANCIAL SERVICES	$301,557
LONGFELLOW HOLDINGS LLC
350 LITCHFIELD RD	FARMINGDALE	ME	04344	LANDSCAPE / PROPERTY MANAGEMENT	$110,475

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	6	CntrctRcvdGreaterThan100KCnt
Fundraising	$55,840	FundraisingAmt
Total Contributions	$55,840	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

Field	Value	IRS element (for citing)
Desc	LOAN INCOME FROM MEMBERS	Desc
Business	522100	BusinessCd
Total Revenue Column	$21,860,081	TotalRevenueColumnAmt
Related Or Exempt Func Income	$21,860,081	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$21,860,081	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$3,199,103	TotalRevenueColumnAmt
Exclusion	$3,199,103	ExclusionAmt

Gross Rents GrossRentsGrp

Field	Value	IRS element (for citing)
Real	$41,218	RealAmt

Less Rental Expenses LessRentalExpensesGrp

Field	Value	IRS element (for citing)
Real	$0	RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$41,218	RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$41,218	TotalRevenueColumnAmt
Exclusion	$41,218	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$10,302,305	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$10,294,384	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$7,921	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$7,921	TotalRevenueColumnAmt
Exclusion	$7,921	ExclusionAmt

Field	Value	IRS element (for citing)
Fundraising Gross Income	$7,015	FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event	$55,840	ContriRptFundraisingEventAmt
Fundraising Direct Expenses	$7,015	FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
SERVICE CHARGES AND FEES	522100	$4,134,614	$4,134,614
OTHER INCOME	522100	$790,648	$790,648
INSURANCE FEES	522100	$86,101		$86,101

Miscellaneous Revenue MiscellaneousRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$56,146	TotalRevenueColumnAmt
Unrelated Business Revenue	$56,146	UnrelatedBusinessRevenueAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$5,067,509	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$30,231,672	TotalRevenueColumnAmt
Related Or Exempt Func Income	$26,785,343	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$142,247	UnrelatedBusinessRevenueAmt
Exclusion	$3,248,242	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$202,037	TotalAmt

Benefits To Members BenefitsToMembersGrp

Field	Value	IRS element (for citing)
Total	$7,021,981	TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$1,507,718	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$6,725,855	TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$332,986	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$2,050,472	TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$29,346	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$80,578	TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$12,650	TotalAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$1,534,516	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$645,645	TotalAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$376,592	TotalAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$642,701	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$1,034,786	TotalAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$414,081	TotalAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$2,179	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$1,015,717	TotalAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$141,745	TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt
PROVISION FOR LOAN LOSS	$1,928,021
SUPERVISION & EXAMINATI	$1,671,436
LOAN SERVICING & COLLEC	$1,258,287
EDUCATION	$112,600

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$40,368	TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$28,782,297	TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$4,361,142	BOYAmt
EOY	$5,278,933	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$59,291,121	BOYAmt
EOY	$72,477,110	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$12,334,750	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$361,360,311	BOYAmt
EOY	$402,520,879	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$22,262,257	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$7,938,266	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$11,962,436	BOYAmt
EOY	$14,323,991	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$106,560,002	BOYAmt
EOY	$97,585,802	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$110,000	BOYAmt
EOY	$110,000	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$43,052,182	BOYAmt
EOY	$38,435,752	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$586,697,194	BOYAmt
EOY	$643,067,217	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$1,961,935	BOYAmt
EOY	$2,864,423	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$532,948,812	BOYAmt
EOY	$585,749,066	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$534,910,747	BOYAmt
EOY	$588,613,489	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	$51,786,447	BOYAmt
EOY	$54,453,728	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$51,786,447	BOYAmt
EOY	$54,453,728	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$586,697,194	BOYAmt
EOY	$643,067,217	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	$1,449,375	ReconcilationRevenueExpnssAmt
Other Changes In Net Assets	$1,217,906	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	Yes (1)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (1)	AuditCommitteeInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,398,277	OtherCostOrOtherBasisAmt
Book Value	$1,398,277	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$15,514,262	OtherCostOrOtherBasisAmt
Depreciation	$4,968,830	DepreciationAmt
Book Value	$10,545,432	BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$398,558	OtherCostOrOtherBasisAmt
Depreciation	$49,907	DepreciationAmt
Book Value	$348,651	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$4,816,413	OtherCostOrOtherBasisAmt
Depreciation	$2,919,529	DepreciationAmt
Book Value	$1,896,884	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$134,747	OtherCostOrOtherBasisAmt
Book Value	$134,747	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$14,323,991	TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (6 entries)

DescDesc	Book ValueBookValueAmt
OTHER ASSETS	$13,711,837
ACCRUED INTEREST RECEIVABLE	$1,823,807
NATIONAL CU SHARE INS. FUND DEPOSIT	$4,918,457
TRICORP MEMBER SHARE SAVINGS	$400,000
RIGHT OF USE ASSET-LEASES	$514,932
CASH SURRENDER VALUE OF SPLIT DOLLAR	$17,066,719

Field	Value	IRS element (for citing)
Total Book Value Other Assets	$38,435,752	TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDesc	AmtAmt
MEMBER'S SHARE AND SAVINGS ACCOUNTS	$585,210,177
RIGHT OF USE LIABILITY - LEASES	$538,889

Field	Value	IRS element (for citing)
Total Liability	$585,749,066	TotalLiabilityAmt
Total Rev Etc Audited Fincl Stmt	$21,281,670	TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported	$0	RevenueNotReportedAmt
Revenue Subtotal	$21,281,670	RevenueSubtotalAmt
Other Revenues Not Included	$8,950,002	OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt	$8,950,002	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$30,231,672	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$19,832,295	TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported	$0	ExpensesNotReportedAmt
Expenses Subtotal	$19,832,295	ExpensesSubtotalAmt
Other Expenses Not Included	$8,950,002	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$8,950,002	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$28,782,297	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
PART XI, LINE 4B - OTHER ADJUSTMENTS:	PROVISION FOR LOAN LOSSES 1,928,021. BENEFITS PAID TO MEMBERS 7,021,981.
PART XII, LINE 4B - OTHER ADJUSTMENTS:	BENEFITS PAID TO MEMBERS 7,021,981. PROVISION FOR LOAN LOSSES 1,928,021.

Schedule G IRS990ScheduleG

Fundraising Event Information FundraisingEventInformationGrp

Field	Value	IRS element (for citing)
Event1	FEEDME5K WALK TO END HUNGER	Event1Nm
Gross Receipts Event1	$62,855	GrossReceiptsEvent1Amt
Charitable Contri Event1	$55,840	CharitableContriEvent1Amt
Gross Revenue Event1	$7,015	GrossRevenueEvent1Amt
Other Direct Expenses Event1	$7,015	OtherDirectExpensesEvent1Amt
Gross Receipts Total	$62,855	GrossReceiptsTotalAmt
Charitable Contributions Tot	$55,840	CharitableContributionsTotAmt
Gross Revenue Total Events	$7,015	GrossRevenueTotalEventsAmt
Oth Direct Expnss Total Events	$7,015	OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events	$7,015	DirectExpenseSummaryEventsAmt
Net Income Summary	$0	NetIncomeSummaryAmt

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (1)	GrantRecordsMaintainedInd

Recipient Table RecipientTable (3 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Recipient EINRecipientEIN	IRC SectionIRCSectionDesc	Cash GrantCashGrantAmt	Non Cash AssistanceNonCashAssistanceAmt	Purpose Of GrantPurposeOfGrantTxt
MAINE CREDIT UNION'S CAMPAIGN FOR ENDING HUNGER
PO BOX 1236	PORTLAND	ME	04104	261720415	501(C)(3)	$102,037	$0	TO COMBAT FOOD INSECURITY IN MAINE
THE FOUNDATION FOR MAINE COMMUNITY COLLEGES
54 LIGHTHOUSE CIRCLE	SOUTH PORTLAND	ME	04106	271363414	501(C)(3)	$94,400	$0	SCHOLARSHIPS
MAINE MARITIME ACADEMY
1 PLEASANT ST	CASTINE	ME	04420	016000724	501(C)(3)	$5,600	$0	SCHOLARSHIPS

Field	Value	IRS element (for citing)
Total501c3 Org	3	Total501c3OrgCnt
Total Other Org	0	TotalOtherOrgCnt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART I, LINE 2:	FormAndLineReferenceDesc
Explanation	FUNDRAISING ACTIVITY IS DONE FOR ESTABLISHED 501(C)(3) ORGANIZATIONS THAT ARE KNOWN IN OUR COMMUNITY.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Travel For Companions	Yes (X)	TravelForCompanionsInd
Written Policy Ref T And E Expnss	Yes (1)	WrittenPolicyRefTAndEExpnssInd
Substantiation Required	Yes (1)	SubstantiationRequiredInd
Compensation Survey	Yes (X)	CompensationSurveyInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	Yes (1)	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	0	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	0	EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Bonus Related OrganizationsBonusRelatedOrganizationsAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt	Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
STEPHEN WALLACE
PRESIDENT/CEO	$334,955	$0	$10,073	$0	$13,995	$0	$11,302	$0	$35,138	$0	$405,463	$0	$0	$0
ERIN CAMPBELL
SVP/CFO THRU SEPT 23'	$150,932	$0	$7,156	$0	$94,627	$0	$7,090	$0	$26,949	$0	$286,754	$0	$0	$0
ADAM KAVANAGH
SVP/COO THRU SEPT 23'	$135,936	$0	$6,589	$0	$90,919	$0	$6,600	$0	$26,796	$0	$266,840	$0	$0	$0
SHANE ABBOTT
SVP/CHIEF RETAIL OFFICER	$161,057	$0	$5,037	$0	$6,731	$0	$6,140	$0	$31,845	$0	$210,810	$0	$0	$0
BRIE MELLOR
SVP/CHIEF LENDING OFFICER	$161,290	$0	$5,132	$0	$6,731	$0	$6,139	$0	$31,212	$0	$210,504	$0	$0	$0
BRUCE HARRINGTON
VP OF COMMERICAL LENDING	$137,536	$0	$5,148	$0	$5,769	$0	$3,162	$0	$35,082	$0	$186,697	$0	$0	$0
JENNIFER BECHARD
VP OF HUMAN RESOURCES	$121,933	$0	$1,318	$0	$0	$0	$4,442	$0	$28,781	$0	$156,474	$0	$0	$0

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
PART I, LINE 1A	TRAVEL FOR SPOUSES IS OFFERED TO BOARD MEMBERS ATTENDING CERTAIN EVENTS. 1099S ARE PROVIDED IF THE AMOUNT OF TRAVEL EXCEEDS $600 DURING THE YEAR. THERE WERE NO INSTANCES WHERE THIS HAPPENED IN 2023.
PART I, LINE 3	BOARD OF DIRECTORS USES DATA PROVIDED BY OUR SALARY ADMINISTRATION SYSTEM.
PART I, LINE 4A	457(B) PLAN - PAYMENTS RECEIVED BY FORMER EMPLOYEE, DUNCAN MACKELLAR, 2023 TOTAL: $11,160 SEVERANCE PAYMENTS WERE RECEIVED BY THE FOLLOWING FORMER EMPLOYEES DURING 2023: ANGELA HARVEY $5,030 ERIN CAMPBELL $55,261 ADAM KAVANAGH $50,000 ARIEL CARON $2,552

Schedule L IRS990ScheduleL

Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (4 entries)

Relationship With OrgRelationshipWithOrgTxt	Loan PurposeLoanPurposeTxt	Loan From OrganizationLoanFromOrganizationInd	Original PrincipalOriginalPrincipalAmt	Balance DueBalanceDueAmt	DefaultDefaultInd	Board Or Committee ApprovalBoardOrCommitteeApprovalInd	Written AgreementWrittenAgreementInd
STEPHEN WALLACE
PRESIDENT/CEO	SPLIT DOLLAR LIFE INSURANCE/EXECUTIVE BENEFIT	Yes (X)	$6,230,000	$4,904,000	0	Yes (1)	Yes (1)
TUCKER COLE
RETIRED, PAST PRESIDENT/CEO	SPLIT DOLLAR LIFE INSURANCE/EXECUTIVE BENEFIT	Yes (X)	$8,162,000	$5,800,000	0	Yes (1)	Yes (1)
ERIN CAMPBELL
FORMER SVP/CFO (DOT 9/2023)	SPLIT DOLLAR LIFE INSURANCE/EXECUTIVE BENEFIT	Yes (X)	$952,500	$756,750	0	Yes (1)	Yes (1)
ADAM KAVANAGH
FORMER SVP/COO (DOT 9/2023)	SPLIT DOLLAR LIFE INSURANCE/EXECUTIVE BENEFIT	Yes (X)	$1,100,000	$874,000	0	Yes (1)	Yes (1)

Field	Value	IRS element (for citing)
Total Balance Due	$12,334,750	TotalBalanceDueAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6	THE FIELD OF MEMBERSHIP IN THIS CREDIT UNION INCLUDES ANYONE WHO LIVES, WORKS, WORSHIPS, OR GOES TO SCHOOL IN ANDROSCOGGIN, CUMBERLAND, KENNEBEC, KNOX, LINCOLN, SAGADAHOC, SOMERSET, OR WALDO COUNTIES, OR IF YOU OR SOMEONE IN YOUR IMMEDIATE FAMILY IS A CURRENT OR RETIRED STATE EMPLOYEE. MEMBERSHIP IS ALSO ELIGIBLE TO EMPLOYEES OR MEMBERS OF THE FOLLOWING ORGANIZATIONS: MAINE STATE EMPLOYEES, MAINE STATE EMPLOYEES' ASSOCIATION, MAINE HOUSING AUTHORITY, MAINE TECHNICAL/COMMUNITY COLLEGE SYSTEM, MAINE STATE RETIREMENT SYSTEM, MAINE ASSOCIATION OF RETIREES. ALSO INCLUDED ARE RETIREES OF ANY OF THE ABOVE ORGANIZATIONS AS WELL AS ANY INDIVIDUAL RECEIVING A MAINE STATE RETIREMENT PENSION.
FORM 990, PART VI, SECTION A, LINE 7A	MEMBERS HAVE A VOTE DURING THE ANNUAL MEETING.
FORM 990, PART VI, SECTION A, LINE 7B	THE BOARD OF DIRECTORS IS FORMED BY VOLUNTEERS THAT ARE ELECTED DIRECTLY FROM CREDIT UNION MEMBERS.
FORM 990, PART VI, SECTION B, LINE 11B	990 REVIEWED BY THE VP OF FINANCE/INTERIM CFO PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 12C	WE HAVE CONFLICT OF INTEREST AND WHISTLEBLOWER POLICIES INCORPORATED IN OUR CODE OF ETHICS. MEMBERS OF THE BOARD OF DIRECTORS SIGN A DOCUMENT REAFFIRMING ANNUALLY THAT THEY ARE ABIDING BY THE POLICY AND REPORTING ANY CONFLICTS OR POTENTIAL CONFLICTS AND ABSTAINING FROM ANY DECISIONS WHERE THERE IS A CONFLICT. THE BOARD REVIEWED THE CODE OF ETHICS POLICY AT THE JUNE 2022 BOARD MEETING AND THERE WERE NO CHANGES FOUND.
FORM 990, PART VI, SECTION B, LINE 15	THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS AUTHORIZES THE SALARY AND ANY INCREASES FOR THE CEO. THE CEO IS RESPONSIBLE FOR THE EVALUATIONS, SALARIES, AND SALARY INCREASES OF THE SENIOR MANAGEMENT TEAM. THE CREDIT UNION UTILIZES A COMPENSATION PROGRAM THAT INCORPORATES EXTERNAL MARKET INFORMATION REGARDING SALARIES IN DETERMINING THEIR SALARY RANGES. THE DIRECTOR OF HUMAN RESOURCES MANAGES THE ADMINISTRATION OF THE COMPENSATION STRUCTURE (IN COLLABORATION WITH THE CEO).
FORM 990, PART VI, SECTION C, LINE 19	THE ANNUAL REPORT IS POSTED ON THE WEBSITE AND THE INCOME STATEMENT AND BALANCE SHEET IS POSTED IN THE LOBBY. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.
FORM 990, PART XI, LINE 9:	CHANGE IN OTHER COMPREHENSIVE INCOME 1,321,678. CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE -103,772.