2021-11-15T13:47:04-06:00 2020-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2020-01-01 020187390 ST MARY'S BANK CREDIT UNION STMA 6036694600 PO BOX 990 MANCHESTER NH 03105 KEVIN NIHILL CFO & TREASURER 6036694600 2021-11-15 1 KEVIN NIHILL 999009999 NICK CROSMAN P01498238 2077745701 2021-11-10 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z RONALD COVEY PO BOX 990 MANCHESTER NH 03105 255747316 0 X WWW.STMARYSBANK.COM X 1908 NH PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 9 9 309 0 991008 0 0 0 47235544 49579061 5906123 7965601 0 0 53141667 57544662 1176151 1152990 6518505 5482671 20194888 21296498 0 0 0 17652329 20577949 45541873 48510108 7599794 9034554 1045764638 1264358476 962926228 1171261567 82838410 93096909 X PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES TO EFFECTIVELY SERVE OUR MEMBERS BY PROVIDING TRUSTED ETHICAL ADVICE THAT HELPS MEMBERS ACHIEVE THEIR FINANCIAL GOALS, A FULL ARRAY OF FINANCIAL SERVICES THAT OFFER REAL ECONOMIC VALUE, AND BEST IN THE MARKET SERVICE THAT RESULTS IN LONG-TERM LOYALTY. 0 0 THE CREDIT UNION HAS 115,233 MEMBERS AS OF DECEMBER 31, 2020, MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW-COST, HIGH-QUALITY SERVICES. ST. MARY'S BANK GIVES BACK TO THE COMMUNITY BY SUPPORTING, PROMOTING AND FURTHERING CHARITABLE, AND EDUCATIONAL PURPOSES, ACTIVITIES AND CAUSES IN NEW HAMPSHIRE, PRIMARILY IN THE CREDIT UNION'S PRIMARY SERVICE AREA. IN 2020, THE CREDIT UNION PROVIDED SUPPORTED NUMEROUS COMMUNITY ORGANIZATIONS AND ALSO CONTRIBUTED $1 MILLION TO THE ST. MARY'S BANK CHARITABLE FOUNDATION.ST. MARY'S BANK'S CHARITABLE GIVING THEME, CHILDREN, FAMILIES, AND INDIVIDUALS IN NEED, IS OUR WAY OF FOCUSING AVAILABLE RESOURCES ON ACTIVITIES MOST RELEVANT TO OUR MISSION OF SERVICE TO CREDIT UNION MEMBERS AND THE COMMUNITY. IN 2020, 90 ORGANIZATIONS WERE SUPPORTED THROUGH DONATIONS AND EVENT SPONSORSHIPS, TOTALING $152,990. CAUSES INCLUDE, BUT ARE NOT LIMITED TO, CHILDREN AND FAMILY, CULTURAL, FINANCIAL LITERACY, FINANCIAL INDEPENDENCE, AND HEALTH AND WELLNESS. IN 2020, WE AWARDED $14,000 IN SCHOLARSHIPS TO 13 OUTSTANDING APPLICANTS PURSUING DEGREES AT NEW HAMPSHIRE INSTITUTIONS AND BEYOND.ST. MARY'S BANK EMPLOYEES VOLUNTEERED OVER 2,500 HOURS OF TIME, DURING WORKTIME AND ON THEIR OWN TIME IN 2020 TO A RANGE OF NON-PROFIT ORGANIZATIONS. ST. MARY'S BANK PARTICIPATES WITH A NUMBER OF LENDER ORGANIZATIONS OFFERING HOMEOWNERSHIP PROGRAMS THAT ASSISTS THE UNDER-SERVED INCLUDING; NHFA-PREFERRED PROGRAM ALONG WITH FHA, VA, USDA-RD, INCLUDING CASH ASSISTANCE PROGRAMS, FNMA, HOME READY, FNMA-ROC, AND FNMA-HARP. ST. MARY'S BANK ALSO OFFERS PORTFOLIO FINANCING OPTIONS AND CONTINUES ITS "WELCOME HOME FIRST-TIME HOMEBUYER PROGRAM AND LOW TO NO DOWN PAYMENT OPTIONS.ST. MARY'S WELCOME HOME PROGRAM IS DESIGNED TO HELP BORROWERS BETTER UNDERSTAND THEIR OVERALL CREDIT, DETERMINE HOW MUCH HOUSE THEY CAN AFFORD, CHOOSE THE RIGHT MORTGAGE AND AVOID POTENTIAL PITFALLS. AS IMPORTANT, THE PROGRAM OFFERS REAL MONETARY BENEFITS INCLUDING:-REDUCED INTERIM RATE CAP -MORTGAGE INSURANCE PREMIUM REDUCTION-ACCESS TO A FULL-RANGE OF ONLINE RESEARCH TOOLS-ACCESS TO FREE HOMEBUYER EDUCATIONIN ADDITION TO IDENTIFYING LENDING OPPORTUNITIES FOR FIRST-TIME HOMEBUYERS, WE WILL ALSO CONTINUE TO FOCUS ON LENDING TO INCOME-ELIGIBLE FAMILIES. MORE SPECIFICALLY, LENDING TO FAMILIES WHOSE HOUSEHOLD INCOME IS AT OR BELOW 115% OF THE AREA MEDIAN FAMILY INCOME (DEFINED AND PUBLISHED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT). 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 23555 0 1 309 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NH X KEVIN NIHILL 6036694600 200 MCGREGOR ST MANCHESTER NH 03101 GUY D CHAPDELAINE CHAIRMAN 3.00 X X 3500 0 0 DANIEL J HEALY DIRECTOR 3.00 X 3850 0 0 DAVID H BELLMAN DIRECTOR 3.00 X 4100 0 0 GINA M BALKUS DIRECTOR 3.00 X 3500 0 0 JOSEPH G FREMEAU DIRECTOR 3.00 X 4500 0 0 STEPHEN J GRZYWACZ VICE CHAIRMAN 3.00 X X 6300 0 0 ELIZABETH HITCHCOCK DIRECTOR 3.00 X 5200 0 0 DIANE P FITZPATRICK DIRECTOR 3.00 X 5400 0 0 CRAIG S DONAIS DIRECTOR 3.00 X 3220 0 0 RONALD COVEY JR CEO 50.00 X 957032 0 31060 ROBERT DESMEULES CFO & TREASURER 50.00 X 260007 0 17406 JANET RAYMOND CHIEF LENDING OFFICER 50.00 X 272220 0 29030 KENNETH SENUS CHIEF OPERATING OFFICER 50.00 X 482387 0 43235 STEVEN MACEK DIRECTOR OF CONSUMER LENDING 50.00 X 180362 0 27108 JOHN CLEARY DIRECTOR OF IT 50.00 X 237363 0 28948 SHIRLEY BHUTTO DIRECTOR OF ENT RISK MGT & COMM 50.00 X 175247 0 25406 KAREN MAYRAND DIRECTOR OF RESIDENTIAL LENDING 50.00 X 182261 0 15358 PAMELA ROY DIRECTOR OF HUMAN RESOURCES 50.00 X 169537 0 38848 KYLE SCHNECK DIRECTOR OF COMMERCIAL LENDING 50.00 X 184593 0 44200 LEO SIMARD DIRECTOR OF RETAIL SALES & MBR EXP 50.00 X 163610 0 41934 ELIZABETH STODOLSKI DIRECTOR OF MARKETING 50.00 X 178072 0 40771 LISA VIAU DIRECTOR OF OPERATIONS 50.00 X 166772 0 4819 JUDY LECLERC SR. RESIDENTIAL LOAN OFFICER 50.00 X 289838 0 29678 RICHARD HANEY SR. RESIDENTIAL LOAN OFFICER 50.00 X 252267 0 42017 BRENDA HOEFLE RESIDENTIAL LOAN OFFICER 50.00 X 252312 0 17447 SUNSHINE VOISINE RESIDENTIAL LOAN OFFICER 50.00 X 229099 0 8786 ROBERT WHITAKER RESIDENTIAL LOAN OFFICER 50.00 X 191231 0 25911 4863780 0 511962 45 0 1 0 CU COOPERATIVE SYSTEMS INC 9692 HAVEN AVE RANCHO CUCAMONGA CA 02920 ATM NETWORK 820734 SYNERGENT PO BOX 1236 PORTLAND ME 04104 STATEMENT SERVICES AND POSTAGE 533510 ARKATECHTURE PO BOX 678 PORTLAND ME 04101 DATA WAREHOUSE REPORTING 277397 BIRCHWOOD CREDIT SERVICES INC PO BOX 7403 FORT LAUDERDALE FL 33338 CREDIT REPORTING/UNDERWRITING 265490 ADRENALINE 195 NEW HAMPSHIRE AVE PORTSMOUTH NH 03801 MARKETING SERVICES 191276 14 LOAN INCOME FROM MEMBERS 522100 38083365 38083365 SERVICE CHARGES 522100 8527287 7854801 672486 OTHER OPERATING INCOME 522100 2968409 2968409 49579061 1129660 318522 811138 203690646 1347949 196622898 1579756 7067748 -231807 6835941 6835941 57544662 48906575 991008 7647079 1152990 5482671 4038835 12828554 1376046 1760291 1292772 72186 503436 528653 779766 682940 1643783 77183 28647 496499 3281641 162959 OTHER EQUIPMENT 4012954 PROVISION FOR LOAN LOSS 3387014 DEBIT CARD EXPENSE 1181972 ORIGINATION FEES 683173 3055143 48510108 3812334 7049680 55379855 152265198 2567855 2627597 2353597 2353597 902666172 1010723419 1338200 1485924 40489073 18420637 21991951 22068436 17664217 13137660 1687400 2188900 36303057 50458065 1045764638 1264358476 246792 196176 430043 817142 15800000 27750000 946449393 1142498249 962926228 1171261567 X 0 0 0 0 82838410 93096909 82838410 93096909 1045764638 1264358476 X 9034554 -6962 1230907 X 0 1 X 1 0 0 1 X 563756 563756 25059328 7799928 17259400 14758548 10579403 4179145 107441 41306 66135 22068436 MEMBERS' SHARES 1124000845 OTHER LIABILITIES 18497404 1142498249 X 55853116 0 55853116 1691546 1691546 57544662 46818562 0 46818562 1691546 1691546 48510108 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW FOR ITS MORTGAGE LOANS TO PAY TAXES AND INSURANCE ON BEHALF OF THE MEMBER. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES. HOWEVER, THE CREDIT UNION MAY BE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). THERE WAS NO UBIT NET INCOME FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019; HOWEVER, THE CREDIT UNION MAY BE SUBJECT TO UBIT AS FURTHER DISCUSSED IN NOTE 9. FASB HAS GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. THE CREDIT UNION FILES FORM 990 AND FORM 990T IN THE U.S. FEDERAL JURISDICTION. WITH FEW EXCEPTIONS, THE CREDIT UNION IS NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) FOR YEARS BEFORE 2016. PART XI, LINE 4B - OTHER ADJUSTMENTS: OMSR EXPENSES 1,008,373. ORIGINATION FEES 683,173. PART XII, LINE 4B - OTHER ADJUSTMENTS: OMSR EXPENSES 1,008,373. ORIGINATION FEES 683,173. 1 GRANITE UNITED WAY 22 CONCORD STREET FLOOR 2 MANCHESTER NH 03101 026006033 501(C)(3) 18000 CHARITABLE SUPPORT THE PALACE THEATRE 61 ATLANTIC STREET STAMFORD CT 06901 061048684 501(C)(3) 32000 CHARITABLE SUPPORT SMB FOUNDATION 200 MCGREGOR STREET MANCHESTER NH 03102 843254128 501(C)(3) 1000000 CHARITABLE SUPPORT 3 PART I, LINE 2: THE ORGANIZATION ENSURES THAT THE RECIPIENT ORGANIZATION IS A QUALIFIED SECTION 501(C)(3) PUBLIC CHARITY AND NO GRANT MONITORING IS DEEMED NECESSARY. X X X X 0 1 0 RONALD COVEY JR CEO 420224 0 197208 0 339600 0 8550 0 22510 0 988092 0 0 0 KENNETH SENUS CHIEF OPERATING OFFICER 264784 0 88276 0 129327 0 8550 0 34685 0 525622 0 0 0 JUDY LECLERC SR. RESIDENTIAL LOAN OFFICER 98131 0 190244 0 1463 0 8168 0 21510 0 319516 0 0 0 JANET RAYMOND CHIEF LENDING OFFICER 213902 0 55744 0 2574 0 5920 0 23110 0 301250 0 0 0 RICHARD HANEY SR. RESIDENTIAL LOAN OFFICER 51363 0 200807 0 97 0 7762 0 34255 0 294284 0 0 0 ROBERT DESMEULES CFO & TREASURER 201102 0 53314 0 5591 0 7867 0 9539 0 277413 0 0 0 BRENDA HOEFLE RESIDENTIAL LOAN OFFICER 80339 0 171586 0 387 0 6982 0 10465 0 269759 0 0 0 JOHN CLEARY DIRECTOR OF IT 192547 0 44816 0 0 0 7036 0 21912 0 266311 0 0 0 SUNSHINE VOISINE RESIDENTIAL LOAN OFFICER 51472 0 177541 0 86 0 6486 0 2300 0 237885 0 0 0 KYLE SCHNECK DIRECTOR OF COMMERCIAL LENDING 159581 0 24661 0 351 0 5931 0 38269 0 228793 0 0 0 ELIZABETH STODOLSKI DIRECTOR OF MARKETING 138032 0 36002 0 4038 0 5636 0 35135 0 218843 0 0 0 ROBERT WHITAKER RESIDENTIAL LOAN OFFICER 57006 0 133946 0 279 0 3532 0 22379 0 217142 0 0 0 PAMELA ROY DIRECTOR OF HUMAN RESOURCES 140761 0 28116 0 660 0 4513 0 34335 0 208385 0 0 0 STEVEN MACEK DIRECTOR OF CONSUMER LENDING 144821 0 30745 0 4796 0 5598 0 21510 0 207470 0 0 0 LEO SIMARD DIRECTOR OF RETAIL SALES & MBR EXP 131281 0 28454 0 3875 0 5249 0 36685 0 205544 0 0 0 SHIRLEY BHUTTO DIRECTOR OF ENT RISK MGT & COMM 139514 0 29159 0 6574 0 5400 0 20006 0 200653 0 0 0 KAREN MAYRAND DIRECTOR OF RESIDENTIAL LENDING 150120 0 30166 0 1975 0 5543 0 9815 0 197619 0 0 0 LISA VIAU DIRECTOR OF OPERATIONS 138289 0 27302 0 1181 0 2033 0 2786 0 171591 0 0 0 PART I, LINE 4B SHIRLEY BHUTTO, ROBERT DESMEULES, ELIZABETH STODOLSKI, AND RONALD COVEY PARTICIPATED IN A 457(B) DEFERRED COMPENSATION PLAN; NO BENEFITS WERE RECEIVED UNDER THIS PLAN. RONALD COVEY AND KENNETH SENUS PARTICIPATED IN A 457 (F) PLAN, UNDER WHICH RON COVEY RECEIVED $286,263 AND KEN SENUS RECEIVED $0. RONALD COVEY JR CEO SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 2353597 2353597 0 1 1 2353597 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. DIVIDENDS ON MEMBERS' SHARES ARE BASED ON AVAILABLE EARNINGS AT THE END OF A DIVIDEND PERIOD AND ARE NOT GUARANTEED BY THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION B, LINE 11B THE CFO/TREASURER WILL REVIEW FORM 990 FOR ACCURACY AND REASONABLENESS. THE SUPERVISORY COMMITTEE WILL REVIEW AND APPROVE THE FORM 990 AND THEN PROVIDE A COPY TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C NEW EMPLOYEES ARE REQUIRED TO ACKNOWLEDGE THAT THEY HAVE READ AND UNDERSTAND THIS POLICY. ANNUALLY, OR AS UPDATES TO THE POLICY OCCUR, ALL SMB EMPLOYEES ARE REQUIRED TO ACKNOWLEDGE THAT THEY HAVE READ AND UNDERSTAND THE POLICY AS APPLICABLE. FORM 990, PART VI, SECTION B, LINE 15 SMB USES A THIRD PARTY VENDOR APPROVED BY THE BOARD OF DIRECTORS TO SET MARKET BASED SALARY RANGES FOR EACH POSITION IN THE CREDIT UNION. THE VENDOR ALSO MAKES RECOMMENDATIONS REGARDING ANNUAL MARKET INCREASES EACH YEAR. SMB'S BOARD OF DIRECTORS APPROVES SALARY RANGES FOR EACH YEAR. THE BOARD ALSO APPROVES THE BUDGET WHICH CONTAINS MERIT INCREASES FOR EACH YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS FOR ST. MARY'S BANK CREDIT UNION ARE DISTRIBUTED TO ALL MEMBERS WHO ATTEND THE ANNUAL MEETING AND ALSO MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. THE GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. ALL REQUESTS FOR THE CONFLICT OF INTEREST POLICY ARE REFERRED TO THE MARKETING DEPARTMENT TO ASSESS ANY POTENTIAL PUBLIC RELATIONS ISSUES. FORM 990, PART XI, LINE 9: NET DEFINED BENEFIT PENSION COSTS ADJUSTMENT 1,230,907. ST MARYS BANK CHARITABLE FOUNDATION 200 MCGREGOR STREET MANCHESTER NH 03102 843254128 CHARITABLE GIVING NH 501(C)(3) PF N/A 0 RIVERSIDE FINANCIAL SERVICES INC 200 MCGREGOR STREET MANCHESTER NH 03102 020419388 INACTIVE NH ST MARY'S BANK CREDIT UNION C 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0