2024-11-14T11:32:55-06:00 2023-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2023-01-01 010216328 EVERGREEN CREDIT UNION EVER 2072215000 225 RIVERSIDE STREET PORTLAND ME 04104 KATE ARCHAMBAULT CFO 2072215000 2024-10-31 1 1 JULIA HOWLAND CPA P01711658 2077745701 2024-10-31 2023 2024-10-15 13:58:12Z KATE ARCHAMBAULT 225 RIVERSIDE STREET PORTLAND ME 04104 28417310 0 X WWW.EVERGREENCREDITUNION.ORG X 1951 ME PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 8 8 134 8 135258 0 0 0 16298081 22134453 1726539 1861482 3828583 4421375 21853203 28417310 0 0 1331013 4807334 9898448 11145780 0 0 0 7299528 8219273 18528989 24172387 3324214 4244923 495681435 538657901 460931699 499666281 34749736 38991620 PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 0 0 THE CREDIT UNION HAS 29,541 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 0 0 1 1 0 0 1 0 0 1 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 5882 0 1 134 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X KATE ARCHAMBAULT 2072215000 225 RIVERSIDE STREET PORTLAND ME 04104 SANDRA LIPSEY CHAIR 1.00 X X 0 0 0 RACHEL GREEN VICE CHAIR 1.00 X X 0 0 0 JULIE NATALE SECRETARY 1.00 X X 0 0 0 ROBERT DORR TREASURER 1.00 X X 0 0 0 CHRIS DOE DIRECTOR 1.00 X 0 0 0 ERIC KING DIRECTOR 1.00 X 0 0 0 JIM WILSON DIRECTOR 1.00 X 0 0 0 RUTH WALSH DIRECTOR 1.00 X 0 0 0 JASON LINDSTROM CEO 40.00 X 409596 0 23246 KATHLEEN ARCHAMBAULT CFO 40.00 X 285532 0 40726 TIMOTHY VERREAULT COO 40.00 X 290310 0 29382 JERE SHAW VP CML LENDING 40.00 X 198046 0 23234 DENIS KNOX VP LENDING 40.00 X 169968 0 28940 CATHY LESTAGE SVP OF HR 40.00 X 193396 0 26074 NATHAN DAVIS VP OF IT 40.00 X 165244 0 28454 RICHARD FOLSE VP OF BRANCH ADMIN THRU 10/23 40.00 X 198733 0 25512 MICHAEL DOREY VP OF DEPOSIT OPERATIONS 40.00 X 144932 0 12357 2055757 0 237925 20 0 1 0 SYNERGENT PO BOX 1236 PORTLAND ME 04104 CORE DATA PROCESSOR 1718904 RISBARA BROS CONSTRUCTION PO BOX 485 SCARBOROUGH ME 04070 BUILDING CONTRACTOR 1422632 SYSTEMS ENGINEERING 120 EXCHANGE ST PORTLAND ME 04101 IT MANAGED SERVICES 265563 DBSI INC 6950 W MORELOS PLACE CHANDLER AZ 85226 CASH RECYCLER VENDOR 216367 KAREN ST CLAIR MEDIA 12 WILDWOOD BLVD CUMBERLAND FORESIDE ME 04110 ADVERTISING CONTRACTOR 214080 9 LOAN INCOME FROM MEMBERS 522291 20007708 20007708 FEE INCOME 522291 2126745 2126745 22134453 1831482 1831482 30000 0 30000 30000 30000 ATM INTERCHANGE INCOME 522100 4067706 4022548 45158 OTHER INCOME 522100 353669 263569 90100 4421375 28417310 26420570 135258 1861482 X 4807334 1300072 7373246 543874 1301141 627447 58044 70000 3010556 836676 1003139 1184587 76851 3380 652740 102279 LOAN SERVICING 516194 PROVISION FOR LOAN LOSS 450000 OTHER EXPENSES 79290 EDUCATION & TRAINING 70010 105527 24172387 5481943 6176884 50857 13839404 284108 101097 8349039 6707035 375822601 424093595 1664182 1408887 17671297 6131716 9778978 11539581 90865821 69940653 3383906 4850765 495681435 538657901 613189 1928802 469425 9356425 459849085 488381054 460931699 499666281 X 0 0 0 0 34749736 38991620 34749736 38991620 495681435 538657901 X 4244923 -3039 X 0 1 X 1 0 2458977 2458977 10251773 4068554 6183219 358893 222971 135922 2581589 1840191 741398 2020065 2020065 11539581 MORTGAGE-BACKED SECURITIES 23416494 C NCUSIF DEPOSIT 4553410 C TRICORP F C U CAPITAL DEPOSIT 400000 C AGENCY SECURITIES 41570749 C 69940653 MEMBERS' SHARES AND SAVINGS ACCOUNTS 488381054 488381054 X X X 1 1 0 JASON LINDSTROM CEO 311260 0 98336 0 0 0 11300 0 11946 0 432842 0 0 0 KATHLEEN ARCHAMBAULT CFO 271835 0 13697 0 0 0 13200 0 27526 0 326258 0 0 0 TIMOTHY VERREAULT COO 276613 0 13697 0 0 0 10900 0 18482 0 319692 0 0 0 RICHARD FOLSE VP OF BRANCH ADMIN THRU 10/23 121640 0 13329 0 63764 0 12281 0 13231 0 224245 0 0 0 JERE SHAW VP CML LENDING 177336 0 20710 0 0 0 7994 0 15240 0 221280 0 0 0 CATHY LESTAGE SVP OF HR 180719 0 12677 0 0 0 7756 0 18318 0 219470 0 0 0 DENIS KNOX VP LENDING 157220 0 12748 0 0 0 7116 0 21824 0 198908 0 0 0 NATHAN DAVIS VP OF IT 151602 0 13642 0 0 0 6826 0 21628 0 193698 0 0 0 MICHAEL DOREY VP OF DEPOSIT OPERATIONS 131476 0 13456 0 0 0 5299 0 7058 0 157289 0 0 0 PART I, LINE 3 COMPENSATION COMMITTEE APPROVES ANY PAY INCREASES ON AN ANNUAL BASIS. EACH YEAR GOALS FOR THE CEO ARE ESTABLISHED. MERIT INCREASES ARE BASED ON COMPELTION OF GOALS. PART I, LINES 4A-B RICHARD FOLSE RECEIVED SEVERACE OF 63,764 UPON HIS TERMINATION. JASON LINSTROM HAS A 457B PLAN. JASON LINDSTROM CEO SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 2550029 2707547 0 1 1 KATHLEEN ARCHAMBAULT CFO SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 1200000 1249569 0 1 1 TIMOTHY VERREAULT COO SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 2644000 2749919 0 1 1 6707035 FORM 990, PART VI, SECTION A, LINE 6 LINE 6 EXPLANATION - MEMBERSHIP IS OBTAINED BY ANYONE MAKING THE MINIMUM REQUIREMENT DEPOSIT IN THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - BOARD OF DIRECTORS IS COMPRISED OF MEMBERS ELECTED BY THE CREDIT UNION MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B LINE 7B EXPLANATION - CERTAIN ACTIONS OF THE BOARD REQUIRE A VOTE BY THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B A FORMAL REVIEW BY THE ENTIRE GOVERNING BODY WAS NOT DEEMED NECESSARY. A FORMAL REVIEW BY THE CEO AND CFO IS PERFORMED. FORM 990, PART VI, SECTION B, LINE 12C IN SIGNING THE CONFLICT OF INTEREST POLICY, OFFICERS AGREE TO DISCLOSE ANY RELATED ITEMS. THE ORGANIZATION IS SMALL AND THEREFORE SENIOR MANAGEMENT IS AWARE OF ALL CONTRACTS WITH THIRD PARTIES. THEREFORE, ANY CONFLICT WOULD BE EASILY IDENTIFIED AND AVOIDED. IF THE BOARD MEMBER WANTED TO PURSUE A BUSINESS RELATIONSHIP THEY WOULD BE REQUIRED TO RESIGN FROM THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 CEO IS REVIEWED BY COMPENSATION COMMITTEE OF THE BOARD. GOALS ARE SET FOR EACH YEAR AT THE BEGINNING OF THE YEAR. CEO IS MEASURED BASED ON GOALS AND COMPENSATION RANGE IS BASED ON THIRD PARTY VENDOR RANGES FOR LIKE SIZE" INSTITUTIONS. OTHER OFFICERS AND KEY EMPLOYEES ARE REVIEWED BY THEIR SUPERVISOR BASED ON ESTABLISHED CREDIT UNION REVIEW PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND POLICIES OF THE ORGANIZATION ARE MADE AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY MONTHLY. FORM 990, PART IX, LINE 11G BREEZE CASH BACK REWARDS 216,111. ATM EXPENSES 1,579,486. VISA EXPENSES 12,898. PROFESSIONAL SERVICES - OTHER 500,378. DATA PROCESSING FEES 605,257. CANNABIS BANKING EXPENSE 96,426. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE -3,039.