2022-06-29T15:26:47-05:00 2020-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2020-01-01 010409063 CONNECTED CREDIT UNION CONN 2076233857 PO BOX 1096 AUGUSTA ME 043321096 RICHARD LACHANCE CEO 2076233857 2022-06-29 1 RICHARD LACHANCE 999009999 JULIA HOWLAND CPA P01711658 2077745701 2022-06-29 X 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z RICHARD LACHANCE PO BOX 1096 AUGUSTA ME 043321096 4444754 0 X WWW.CONNECTEDCREDITUNION.ORG X 1967 ME PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 12 12 31 20 23244 0 0 0 115853 2790379 30375 511624 46407 1142751 192635 4444754 0 0 26333 447663 68870 1608780 0 0 0 77592 2016124 172795 4072567 19840 372187 45583934 107608255 40893053 98118893 4690881 9489362 X PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES 1 0 4072567 THE CREDIT UNION HAS 8,478 MEMBERS AS OF 12/31/20. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES. 4072567 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 3 0 1 31 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X KELLEY WATHEN 2076233857 PO BOX 1096 AUGUSTA ME 043321096 JOHN CASSIDY VICE CHAIRMAN 0.00 X X 0 0 0 MICHAEL CLEMENTS CHAIRMAN 0.00 X X 0 0 0 PATRICIA HEWETT SECRETARY 0.00 X X 0 0 0 HEATHER BROWNE DIRECTOR 0.00 X 0 0 0 KIMBERLY CAREY DIRECTOR 0.00 X 0 0 0 DENNIS SCATES DIRECTOR 0.00 X 0 0 0 RICHARD GRINDALL DIRECTOR 0.00 X 0 0 0 MILES WHITLOCK DIRECTOR 0.00 X 0 0 0 PAULA POOLER DIRECTOR 0.00 X 0 0 0 ISAAC DYER DIRECTOR 0.00 X 0 0 0 PATRICIA SUGA DIRECTOR 0.00 X 0 0 0 KAREN HARRINGTON DIRECTOR 0.00 X 0 0 0 RICHARD LACHANCE CEO 40.00 X 137007 0 33428 KELLEY WATHEN CFO 40.00 X 70779 0 18717 CATHY BOND PRESIDENT 40.00 X 153848 0 18837 361634 0 70982 2 0 1 0 SYNERGENT 2 LEDGEVIEW DRIVE WESTBROOK ME 04096 DATA PROCESSING, MARKETING, CARD SERVICE 385152 1 LOAN INCOME FROM MEMBE 522100 2790379 2790379 2790379 490872 490872 20752 0 20752 20752 20752 WARRANTY FEES 522100 755737 755737 OTHER INCOME 522100 387014 363770 23244 1142751 4444754 3909886 23244 511624 447663 432616 901515 274649 97547 154996 40183 289915 144812 172608 SERVICE CHARGES 541376 PROVISION FOR LOAN LOSS 177390 LOAN SERVICING EXPENSE 143905 POSTAGE 50516 202876 4072567 406492 1328871 2551115 8612138 26531418 53963280 94100 320211 5454132 2504192 2257725 2949940 12428000 35402000 1315084 5031815 45583934 107608255 40893053 98118893 40893053 98118893 X 0 0 0 0 4690881 9489362 4690881 9489362 45583934 107608255 X 372187 4426294 X 0 0 0 602276 602276 3786457 1579869 2206588 1065399 924323 141076 2949940 OTHER INVESTMENTS 35402000 C 35402000 X X X 0 0 0 CATHY BOND PRESIDENT 60688 0 2000 0 91160 0 8065 0 10772 0 172685 0 0 0 RICHARD LACHANCE CEO 128872 0 2000 0 6135 0 8510 0 24918 0 170435 0 0 0 RICHARD P LACHANCE CEO SPLIT DOLLAR LIFE INSURANCE ARRANGEMENT X 500000 500000 0 1 1 500000 ERIC LACHANCE SON OF CEO 9938 LANDSCAPING SERVICES 0 FORM 990, PART III, LINE 2 CONNECT CREDIT UNION MERGED WITH WINSLOW FEDERAL CREDIT UNION IN 2020 AND INTRODUCED INDIRECT LENDING. FORM 990, PART VI, SECTION A, LINE 4 BY-LAWS WERE AMENDED: THE CREDIT UNION BOARD MADE AN ALLOWANCE THIS YEAR FOR VIRTUAL MEETINGS DUE TO COVID. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAD 8,478 MEMBERS AS OF 12/31/2020. FORM 990, PART VI, SECTION A, LINE 7A ORGANIZATION HAD MEMBERS AUTHORIZED TO APPOINT MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B SOME GOVERNANCE DECISIONS ARE SUBJECT TO APPROVAL BY MEMBERS, SUCH AS ELECTION OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B NO REVIEW WAS OR WILL BE CONDUCTED FORM 990, PART VI, SECTION B, LINE 12C IT IS PART OF THE SWEARING IN OF OFFICERS. ANNUALLY, EACH OFFICER RECEIVES A COPY OF THE POLICY AND SIGNS OFF THAT IT IS ADHERED TO. FORM 990, PART VI, SECTION B, LINE 15 WE USE A THIRD PARTY SALARY COMPARISON PROGRAM WITH UPDATED RANGES OF SALARY BASED ON JOB DESCRIPTION AND GEOGRAPHICAL LOCATION. THIS PROGRAM IS UPDATED AND REFERRED TO ANNUALLY BY A COMMITTEE OF THE BOARD FOR PURPOSES OF DETERMINING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. CONFLICT OF INTEREST POLICY IS AVAILABLE FROM THE CEO. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY AND ARE PROVIDED TO ATTENDEES AT THE ANNUAL MEETING. FORM 990, PART XI, LINE 9: NET ASSETS FROM MERGED WINSLOW CREDIT UNION 4,426,294. PART XI, LINE 9 ON 6/30/20 CONNECTED CREDIT UNION MERGED WITH WINSLOW FEDERAL CREDIT UNION. TOTAL NET ASSETS ACQUIRED WERE $ 4,426,294.