2020-07-13T10:36:03-05:00 2019-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2019-01-01 016028792 UNIVERSITY CREDIT UNION UNIV 2078898600 15 MAIN STREET ORONO ME 04473 BOB WILLIAMS VICE PRESIDENT OF FINANCE 2078898600 2020-07-02 1 BRAD WELLER CPA P00285183 2077745701 2020-07-02 216.54.158.12 2020-07-02 07:59:18 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 AE99A42BFBBAACA004BCD32729E9007019FDCFD4 2019 2020-09-22 18:59:49Z RENEE OUELLETTE 15 MAIN STREET ORONO ME 04473 21136057 0 X WWW.UCU.MAINE.EDU X 1967 ME PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 7 7 106 0 156310 0 0 0 16809871 17529687 21627 1326578 93156 74668 16924654 18930933 0 31500 1646921 1260698 6289953 6400635 0 0 0 8059051 8370561 15995925 16063394 928729 2867539 305452117 330643520 278251438 299566688 27200679 31076832 THE PURPOSE OF UNIVERSITY CREDIT UNION IS PREPARE, PROGRESS, ACHIEVE. TO ACTIVELY ADVANCE THE FINANCIAL WELL-BEING OF OUR MEMBERS IN EVERY STAGE OF THEIR LIVES. 0 0 THE CREDIT UNION HAS 28,271 MEMBERS AS OF 12/31/2019. 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 8892 0 1 106 1 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 GERALD HAYMAN JR CHAIR 1.00 X X 0 0 0 ENCY WHITEHILL VICE CHAIR 1.00 X X 0 0 0 HUGH MORRISON SECRETARY 1.00 X X 0 0 0 CAROLYN CHENEY DIRECTOR 1.00 X 0 0 0 RICHARD BORGMAN DIRECTOR 1.00 X 0 0 0 BETSY UHUAD DIRECTOR 1.00 X 0 0 0 PETER REID DIRECTOR 1.00 X 1341 0 0 MATTHEW WALSH PAST PRESIDENT & CEO 40.00 X 240292 0 24430 RENEE OUELLETTE PRESIDENT & CEO 40.00 X 156859 0 60052 DEB WHITE-RIDEOUT EVP 40.00 X 198980 0 60421 APRIL GLEASON VP OF LENDING 40.00 X 123802 0 13680 EILEEN BYRAM VP OF RISK MGMT 40.00 X 112674 0 13237 833948 0 171820 5 0 1 0 0 LOAN INCOME FROM MEMBERS 522100 13725355 13725355 CHECK CARD 522100 1841260 1841260 OVERDRAFT FEES 522100 1607283 1607283 OTHER INCOME 522100 213262 213262 ATM FEES 522100 142527 57875 84652 17529687 1274780 1274780 3010 0 3010 3010 3010 2256922 2205124 51798 51798 43932 7866 COMMISSION 522100 29631 29631 OTHER INCOME 522100 28117 28117 INSURANCE 522100 7573 7573 6337 6337 71658 18930933 17488967 156310 1285656 31500 1260698 742375 4070964 354482 869888 362926 87497 29040 265748 528384 609980 149159 662957 968997 OPERATIONS EXPENSE 3937088 PROVISION FOR LOAN LOSS 533846 LOAN SERVICE EXPENSE 403018 OTHER GENERAL & ADMIN 194847 16063394 10599788 9394074 578525 1134236 241283043 261883399 14434193 6929963 9278939 7504230 35213671 42530461 8498151 8197120 305452117 330643520 2341162 1933405 1285541 1499758 27000000 38300000 247624735 257833525 278251438 299566688 X 0 0 0 0 27200679 31076832 27200679 31076832 305452117 330643520 2867539 1008614 0 X 0 1 X 1 0 1 367626 1120302 1132115 355813 1 X 1578333 1578333 6794450 2441703 4352747 890907 703460 187447 4938255 3784800 1153455 232248 232248 7504230 INVESTMENT SECURITIES AVAILABLE FOR SALE 34332515 F INVESTMENT SECURITIES HELD TO MATURITY 6219746 F FEDERAL HOME LOAN BANK OF BOSTON STOCK 1978200 F 42530461 MEMBERS' SHARE AND SAVINGS ACCOUNT 257833525 257833525 18940833 9900 9900 18930933 0 18930933 16073294 9900 9900 16063394 0 16063394 PART IV, LINE 1B: UCU SELLS MORTGAGES TO FANNIE MAE (FNMA) AND THE FEDERAL HOME LOAN BANK (FHLB) 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 FNMA AND FHLB MONTHLY. PART IV, LINE 2B: ESCROW ACCOUNTS FOR MORTGAGES PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SALE OF INVESTMENTS 9,900. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SALE OF INVESTMENTS 9,900. 1 UNIVERSITY OF MAINE FOUNDATION TWO ALUMNI PLACE ORONO ME 044695792 016011501 501(C)(3) 28500 CHARITABLE SUPPORT 1 PART I, LINE 2: THE ORGANIZATION ENSURES THAT THE RECIPIENT ORGANIZATION IS A QUALIFIED SECTION 501(C)(3) PUBLIC CHARITY. GRANTS ARE UNRESTRICTED AND TO BE USED FOR THE DONEE'S EXEMPT-PURPOSE. NO GRANT MONITORING IS DEEMED NECESSARY. X X 1 1 X X X 0 0 0 MATTHEW WALSH PAST PRESIDENT & CEO 201163 0 25441 0 13688 0 0 0 24430 0 264722 0 0 0 RENEE OUELLETTE PRESIDENT & CEO 144778 0 7674 0 4407 0 45000 0 15052 0 216911 0 0 0 DEB WHITE-RIDEOUT EVP 170691 0 17190 0 11099 0 44500 0 15921 0 259401 0 0 0 MATTHEW WALSH OFFICER SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 300005 401015 0 1 1 RENEE OUELLETTE OFFICER SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 225000 235604 0 1 1 DEB WHITE-RIDEOUT KEY EMPLOYEE SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 445001 497617 0 1 1 1134236 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 SENIOR VICE PRESIDENT OF FINANCE. 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 AND 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.