2021-11-12T07:48:48-06:00 2020-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2020-01-01 010196194 MAINE STATE CREDIT UNION MAIN 8005408707 PO BOX 5659 AUGUSTA ME 043325659 ERIN E CAMPBELL CFO 8005408707 2021-11-11 1 ERIN CAMPBELL 999009999 MARK AYERS P00289581 2077745701 2021-11-11 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z TUCKER COLE PO BOX 5659 AUGUSTA ME 043325659 20746217 0 X WWW.MAINESTATECU.ORG X 1935 ME PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 11 11 103 11 119196 0 0 0 15455697 16283484 1844009 1151986 3417531 3310747 20717237 20746217 0 0 3474336 3909278 6979026 7387149 0 0 0 7470991 7758304 17924353 19054731 2792884 1691486 453958365 531168901 398057087 470378648 55901278 60790253 PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 0 0 THE CREDIT UNION HAS 31,647 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 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8308 0 1 103 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X ERIN E CAMPBELL 8005408707 PO BOX 5659 AUGUSTA ME 043325659 THOMAS CUSICK DIRECTOR 1.00 X 0 0 0 ROLAND MAHEUX TREASURER 1.00 X X 0 0 0 LEONARD CABANA DIRECTOR 1.00 X 0 0 0 GEORGE LAPOINTE CHAIRPERSON 1.00 X X 0 0 0 JAMES SOUCIE DIRECTOR 1.00 X 0 0 0 MICHAEL RODERIGUE VICE CHAIR 1.00 X X 0 0 0 GARY CROCKER DIRECTOR 1.00 X 0 0 0 AIMEE CARLTON DIRECTOR 1.00 X 0 0 0 LIZ OUELLETTE DIRECTOR 1.00 X 0 0 0 ERIC POIRIER SECRETARY 1.00 X X 0 0 0 SU LEIGH DIRECTOR 1.00 X 0 0 0 DEBORAH L SPARROW SVP / LENDING & ORGANIZATIONAL DEVELOPMENT 40.00 X 196402 0 39766 ERIN CAMPBELL SVP/CHIEF FINANCIAL OFFICE 40.00 X 164811 0 24644 MARK YOUNG SVP/CHIEF OPERATIONS OFFIC 40.00 X 196323 0 21554 TUCKER COLE PRESIDENT/CEO 40.00 X 354301 0 49048 ANGELA HARVEY DIRECTOR OF HUMAN RESOURCE 40.00 X 127262 0 11289 JENNIFER ROPER DIRECTOR OF MARKETING 40.00 X 111713 0 10896 STEPHEN WALLACE SVP / RETAIL 40.00 X 135754 0 19997 BRUCE HARRINGTON VP OF COMMERICAL LENDING 40.00 X 103435 0 32078 SHERRY NADEAU OPERATIONS MANAGER 40.00 X 114242 0 20724 1504243 0 229996 10 0 1 0 ELEMENT 155 BREWERY LANE SUITE 1 PORTSMOUTH NH 03801 DESIGN CONSULTING 1843686 SYNERGENT 2 LEDGEVIEW DR WESTBROOK ME 04092 DATA PROCESSING 1378832 WORKGROUP TECHNOLOGY PARTNERS INC PO BOX 110 WESTBROOK ME 04098 MANAGED IT SERVICES 625208 WH DEMMONS INC 93 WARREN AVE PORTLAND ME 04103 HVAC FIRM 349179 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 FINANCIAL SERVICES 268205 10 LOAN INCOME FROM MEMBERS 522100 16283484 16283484 16283484 1151986 1151986 SERVICE CHARGES AND FEES 522100 2881399 2881399 OTHER INCOME 522100 310152 310152 INSURANCE FEES 522100 84264 84264 34932 34932 3310747 20746217 19475035 119196 1151986 3909278 1046846 4208744 2131559 1115508 2676553 868312 162691 5307 PROVISION FOR LOAN LOSS 1278397 LOAN SERVICING & COLLEC 882195 EDUCATIONAL & PROMOTION 565976 MISCELLANEOUS 84938 118427 19054731 4339457 4383370 70631962 81745276 322810995 324969838 16778339 6044973 8469954 10733366 32451582 82631137 110000 110000 15144415 26595914 453958365 531168901 2120699 1521866 395936388 468856782 398057087 470378648 X 0 0 0 0 55901278 60790253 55901278 60790253 453958365 531168901 X 1691486 3197489 X 0 1 X 1 0 1398277 1398277 11353541 3787119 7566422 4026521 2257854 1768667 10733366 OTHER ASSETS 12793088 ACCRUED INTEREST RECEIVABLE 1197573 NATIONAL CU SHARE INS. FUND DEPOSIT 4168179 TRICORP MEMBER SHARE SAVINGS 400000 CREDIT UNION OWNED LIFE INSURANCE 8037074 26595914 MEMBER'S SHARE AND SAVINGS ACCOUNTS 468856782 468856782 15558542 0 15558542 5187675 5187675 20746217 13867056 0 13867056 5187675 5187675 19054731 PART XI, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR LOAN LOSSES 1,278,397. BENEFITS PAID TO MEMBERS 3,909,278. PART XII, LINE 4B - OTHER ADJUSTMENTS: BENEFITS PAID TO MEMBERS 3,909,278. PROVISION FOR LOAN LOSSES 1,278,397. X 1 0 0 TUCKER COLE PRESIDENT/CEO 348421 0 5880 0 0 0 11455 0 37593 0 403349 0 0 0 DEBORAH L SPARROW SVP / LENDING & ORGANIZATIONAL DEVEL 186200 0 3415 0 6787 0 7206 0 32560 0 236168 0 0 0 MARK YOUNG SVP/CHIEF OPERATIONS OFFIC 185981 0 3336 0 7006 0 6910 0 14644 0 217877 0 0 0 ERIN CAMPBELL SVP/CHIEF FINANCIAL OFFICE 158911 0 2796 0 3104 0 5775 0 18869 0 189455 0 0 0 STEPHEN WALLACE SVP / RETAIL 128466 0 2096 0 5192 0 4879 0 15118 0 155751 0 0 0 PART I, LINE 4A SHERRY NADEAU RECEIVED SEVERANCE PAYMENT OF $24,126. FORM 990, PART VI, SECTION A, LINE 6 THE FIELD OF MEMBERSHIP IN THIS CREDIT UNION IS LIMITED TO THOSE HAVING THE FOLLOWING COMMON BOND: MAINE STATE EMPLOYEES, EMPLOYEES OF THE MAINE STATE EMPLOYEES' ASSOCIATION, CUMBERLAND COUNTY EMPLOYEES', MAINE HOUSING AUTHORITY EMPLOYEES, MEMBERS OF THE MAINE ASSOCIATION OF RETIREES, EMPLOYEES OF THE MAINE COMMUNITY COLLEGE SYSTEM, EMPLOYEES OF THE MAINE PUBLIC EMPLOYEES RETIREMENT SYSTEM, RETIREES OF GROUPS LISTED ABOVE, ANY INDIVIDUAL WHO IS RECEIVING A MAINE STATE RETIREMENT PENSION; AND PERSONS WHO LIVE, WORK, WORSHIP, OR ATTEND SCHOOL IN AND BUSINESSES LOCATED IN ANDROSCOGGIN COUNTY, CUMBERLAND COUNTY, KENNEBEC COUNTY, AND SAGADAHOC COUNTY AND THEIR IMMEDIATE FAMILY OR HOUSEHOLD MEMBERS. PRIOR TO JUNE 2019, PERSONS WHO LIVED, WORKED, WORSHIPPED, OR ATTENDED SCHOOL AND BUSINESSES IN SOMERSET COUNTY WERE ELIGIBLE FOR MEMBERSHIP; EXISTING MEMBERS WERE GRANDFATHERED. MEMBERS RECEIVE DIVIDENDS BASED ON SHARE ACCOUNTS BUT DO NOT RECEIVE DISTRIBUTIONS OF PROFITS. 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 CEO/PRESIDENT AND THE SVP/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 10/30/2019 MEETING AND SIGNED THE DOCUMENT REAFFIRMING THEIR COMMITMENT TO THE POLICY/PRACTICE. 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 3,197,489.