2021-06-16T06:44:37-05:00 2020-12-31 010448006 ALBIN RANDALL & BENNETT PO BOX 445 130 MIDDLE STREET PORTLAND ME 041120445 990 2020-01-01 016028792 UNIVERSITY CREDIT UNION UNIV 2078898600 15 MAIN STREET ORONO ME 04473 BOB WILLIAMS CHIEF FINANCIAL OFFICER 2078898600 2021-06-15 1 BOB WILLIAMS 999009999 ROBIN L CYR P01261639 2077721981 2021-06-11 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z RENEE OUELLETTE 15 MAIN STREET ORONO ME 04473 36334045 0 X WWW.UCUMAINE.COM X 1967 ME UNIVERSITY CREDIT UNION ADVANCES YOUR FINANCIAL WELL-BEING IN EVERY STAGE OF LIFE. 7 7 93 9 117565 0 0 0 17529687 18159825 1326578 1645334 74668 53202 18930933 19858361 31500 34575 1260698 993073 6400635 7343571 0 0 0 8370561 8100063 16063394 16471282 2867539 3387079 330643520 385646309 299566688 349834373 31076832 35811936 THE PURPOSE OF UNIVERSITY CREDIT UNION IS PREPARE, PROGRESS, ACHIEVE. TO ACTIVELY ADVANCE THE FINANCIAL WELL-BEING OF OUR MEMBERS IN EVERY STATE OF THEIR LIVES. 0 0 THE CREDIT UNION HAS 28,484 MEMBERS AS OF 12/31/2020. 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 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 8828 0 1 93 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 BOB WILLIAMS 2078898600 15 MAIN STREET ORONO ME 04473 BORGMAN RICHARD DIRECTOR 1.00 X 0 0 0 CHENEY CAROLYN DIRECTOR 1.00 X 0 0 0 REID PETER DIRECTOR 1.00 X 0 0 0 UHUAD BETSY DIRECTOR 1.00 X 0 0 0 HAYMAN GERALD CHAIR 1.00 X X 0 0 0 WHITEHILL ENCY VICE CHAIR 1.00 X X 0 0 0 MORRISON HUGH SECRETARY 1.00 X X 0 0 0 OUELLETTE RENEE D PRESIDENT & CEO 40.00 X 242860 0 45332 WILLIAMS ROBERT CHIEF FINANCIAL OFFICER 40.00 X 89143 0 24975 WHITE-RIDEOUT DEB EXEC VICE PRESIDENT 40.00 X 163186 0 41230 RUCKER KYLE MORTGAGE LOAN ORIGINATOR 40.00 X 231660 0 32406 BRONIARCZYK CORY E MORTGAGE LOAN ORIGINATOR 40.00 X 169623 0 7487 CARLISLE C JASON MORTGAGE LOAN ORIGINATOR 40.00 X 149751 0 28075 FALOON CODY A MORTGAGE LOAN ORIGINATOR 40.00 X 140619 0 33188 GLEASON APRIL VP OF LENDING 40.00 X 124329 0 28949 1311171 0 241642 7 0 1 0 SYNERGENT 2 LEDGEVIEW DR WESTBROOK ME 04092 DATA PROCESSING 1316320 PORTLAND SAFE CONSULTING & DESIGN INC 3 MALLISON FALLS RD WINDHAM ME 04062 EQUIPMENT & SERVICE SUPPORT 211592 PROPERTY VALUATION SERVICES INC PO BOX 343 SOUTH FREEPORT ME 04078 APPRAISALS 203160 MORTGAGECLICK LLC 10 CEDAR ST STE 15 WOBURN MA 01801 MORTGAGE LENDING SUPPORT 166543 CUNA MUTUAL GROUP 5910 MINERAL POINT RD MADISON WI 53705 INSURANCE SERVICES 161452 5 LOAN INCOME FROM MEMBERS 522100 14798197 14798197 CHECK CARD 522100 1831942 1831942 OVERDRAFT FEES 522100 1280362 1280362 OTHER INCOME 522100 129495 129495 ATM FEES 522100 119829 55466 64363 18159825 1212890 1212890 16908128 16475684 432444 432444 432444 COMMISSION 522100 27981 27981 OTHER INCOME 522100 25221 25221 53202 19858361 18527906 117565 1212890 34575 993073 540833 4990306 475424 916955 420053 35103 31944 342224 589308 601526 32114 242927 890455 13847 OPERATIONS EXPENSE 3776860 PROVISION FOR LOAN LOSS 731274 LOAN SERVICE EXPENSE 549828 OTHER GENERAL & ADMIN 262653 16471282 9394074 11494134 1134236 794260 261883399 313326434 14743334 7601573 7504230 7141761 42530461 44974845 8197120 7914875 330643520 385646309 1933405 2890851 1499758 1806131 38300000 23184267 257833525 321953124 299566688 349834373 X 0 0 0 0 31076832 35811936 31076832 35811936 330643520 385646309 3387079 1348025 0 X 0 1 X 1 0 1 355813 1069579 1087184 338208 1 X 1578333 1578333 6885146 2747615 4137531 870190 729358 140832 5125168 4096185 1028983 284497 28415 256082 7141761 INVESTMENTS SECURITIES AVAILABLE FOR SALE 38943192 F INVESTMENT SECURITIES HELD TO MATURITY 4616425 F FEDERAL HOME LOAN BANK OF BOSTON STOCK 1043300 F INVESTMENTS - EQUITY SECURITIES 371928 F 44974845 MEMBERS' SHARE AND SAVINGS ACCOUNT 321953124 321953124 21206386 1348025 1348025 19858361 0 19858361 16471282 0 16471282 0 16471282 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 1 MAINE MARITIME ACADEMY 1 PLEASANT STREET CASTINE ME 04420 016000724 501(C)(3) 10450 0 CHARITABLE SUPPORT UNIVERSITY OF MAINE FOUNDATION TWO ALUMNI PLACE ORONO ME 044695792 016011501 501(C)(3) 6000 0 CHARITABLE SUPPORT UNIVERSITY OF SOUTHERN MAINE FOUNDATION PO BOX 9300 PORTLAND ME 041049300 016000769 501(C)(3) 18125 0 CHARITABLE SUPPORT 3 0 PART I, LINE 2: THE ORGANIZATION ENSURES THAT THE RECIPIENT ORGANIZATION IS A QUALIFIED SECTION 501(C)(3) PUBLIC CHARITY. CONTRIBUTIONS ARE UNRESTRICTED AND TO BE USED FOR THE DONEE'S EXEMPT PURPOSE. NO GRANT MONITORING IS DEEMED NECESSARY. THE ORGANIZATION HAS RECEIVED RECEIPTS OF ACKNOWLEDGEMENT AS SUBSTANTIATION FOR THESE CONTRIBUTIONS. X X X 0 0 0 OUELLETTE RENEE D PRESIDENT & CEO 219724 0 5564 0 17572 0 17894 0 27438 0 288192 0 0 0 RUCKER KYLE MORTGAGE LOAN ORIGINATOR 30000 0 201650 0 10 0 18621 0 13785 0 264066 0 0 0 WHITE-RIDEOUT DEB EXEC VICE PRESIDENT 152030 0 6362 0 4794 0 12751 0 28479 0 204416 0 0 0 CARLISLE C JASON MORTGAGE LOAN ORIGINATOR 30000 0 119723 0 28 0 12673 0 15402 0 177826 0 0 0 BRONIARCZYK CORY E MORTGAGE LOAN ORIGINATOR 30000 0 139613 0 10 0 0 0 7487 0 177110 0 0 0 FALOON CODY A MORTGAGE LOAN ORIGINATOR 30000 0 110609 0 10 0 11398 0 21790 0 173807 0 0 0 GLEASON APRIL VP OF LENDING 118996 0 4672 0 661 0 9933 0 19016 0 153278 0 0 0 RENEE OULLETTE OFFICER SPLIT DOLLAR LINE INSURANCE AGREEMENT LOAN X 270000 286024 0 1 1 DEB WHITE-RIDEOUT KEY EMPLOYEE SPLIT DOLLAR LINE INSURANCE AGREEMENT LOAN X 445000 508236 0 1 1 794260 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.