2018-10-26T14:40:15-05:00 2017-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 04106 990 2017-01-01 020187390 ST MARY'S BANK CREDIT UNION STMA 6036694600 PO BOX 990 MANCHESTER NH 03105 ROBERT A DESMEULES CFO & TREASURER 6036694600 2018-10-19 1 ALISON HERRICK P01268903 2077745701 2018-10-19 66.186.191.122 2018-10-19 15:32:38 ED P 73EA22D443C915D57CDC8816F95B5C158DF4318D 84A036BCD2E026D9F28A709FC8E8904A9A527089 2017 2018-06-14 16:35:46Z RONALD COVEY PO BOX 990 MANCHESTER NH 03105 149128176 0 X WWW.STMARYSBANK.COM X 1908 NH PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 9 9 287 0 603551 -132684 0 0 39286763 41376140 3935176 3474178 0 0 43221939 44850318 124105 176631 3674367 3987032 16359288 16557795 0 0 0 19357227 19879647 39514987 40601105 3706952 4249213 960178956 988973237 895515895 919532120 64663061 69441117 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 101,501 MEMBERS AS OF DECEMBER 31, 2017. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW-COST, HIGH-QUALITY SERVICES. ST. MARY'S BANK IS COMMITTED TO THE CREDIT UNION PHILOSOPHY OF "PEOPLE HELPING PEOPLE." WE DEDICATE RESOURCES TO THE COMMUNITIES WE SERVE AND PROVIDE OPPORTUNITIES FOR INDIVIDUALS AND FAMILIES, ESPECIALLY THOSE OF MODEST MEANS, SO THAT ALL MAY IMPROVE THE QUALITY OF THEIR LIVES.ST. MARY'S BANK'S CHARITABLE GIVING THEME IS CHILDREN, FAMILIES AND INDIVIDUALS IN NEED. ST. MARY'S BANK PROACTIVELY SUPPORTS THE COMMUNITIES IT SERVES THROUGH A NUMBER OF PROGRAMS AND INITIATIVES WITH THE COMMITMENT OF MONETARY AND NON-MONETARY RESOURCES. ST. MARY'S SUPPORTS MANY NON-PROFIT AND SOCIAL SERVICE AGENCIES THROUGH DONATIONS AND SPONSORSHIPS. IN 2017, ST. MARY'S BANK SUPPORTED 132 ORGANIZATIONS THROUGH DONATIONS AND SPONSORSHIPS FOR A TOTAL OF $181,520.IN 2017 ST. MARY'S ALSO HAD A FORMAL COMMUNITY OUTREACH PROGRAM THAT IS DELIVERED THROUGH PARTNERSHIPS WITH LOCAL NON-PROFIT AND SOCIAL SERVICES AGENCIES. IN 2017, ST. MARY'S AWARDED FIVE (5) GRANTS FROM THE "1908 FUND" TOTALING $9,500 TO NON-PROFIT ORGANIZATIONS TO FOCUS FINANCIAL INDEPENDENCE. IN ADDITION, ST. MARY'S AWARDED $7,500 IN COLLEGE SCHOLARSHIPS TO OUR MEMBERS.THE TWO ST. MARY'S BANK MEDALLION SCHOLARSHIP FUNDS - ST. MARY'S BANK MEDALLION FUND AND ARMAND LEMIRE MEDALLION FUND RESPECTIVELY. THESE FUNDS ARE ADMINISTERED BY THE NH CHARITABLE FOUNDATION AND INTENDED TO ASSIST MEMBERS ENROLLING IN ACCREDITED VOCATIONAL OR TECHNICAL PROGRAMS. IN 2017, A TOTAL OF FOUR (4) SCHOLARSHIPS FOR A TOTAL OF $6,250 WERE AWARDED. IN ADDITION, LAST YEAR OUR EMPLOYEES COLLECTIVELY VOLUNTEERED APPROXIMATELY 1,893 HOURS (FOR A VOLUNTEER WORTH OF $44,600 BASED ON WWW.INDEPENDENTSECTOR.ORG) OF THEIR TIME BY SERVING ON BOARDS OF NON-PROFITS AND VOLUNTEERING FOR VARIOUS COMMUNITY RELATED EVENTS. ST. MARY'S ALSO ALLOWS NON-PROFIT PARTNERS TO USE MEETING SPACE AT THE OPERATIONS & EDUCATION CENTER FREE OF CHARGE. ST. MARY'S BANK PARTICIPATES WITH A NUMBER OF LENDER ORGANIZATIONS OFFERING HOMEOWNERSHIP PROGRAMS THAT ASSISTS THE UNDER-SERVED INCLUDING; FHA, VA, USDA-RD, NHHFA, FNMA-MY COMMUNITY, FNMA-ROC, AND FNMA-HARP. ST. MARY'S BANK ALSO OFFERS PORTFOLIO FINANCING OPTIONS AND IN 2017 CONTINUED ITS "WELCOME HOME FIRST-TIME HOMEBUYER PROGRAM" PROGRAM.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 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 20735 0 1 287 1 1 1 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 ROBERT DESMEULES 6036694600 200 MCGREGOR ST MANCHESTER NH 03101 GUY D CHAPDELAINE VICE CHAIRMAN 3.00 X X 6150 0 0 DANIEL J HEALY CHAIRMAN 3.00 X X 3750 0 0 DAVID H BELLMAN DIRECTOR 3.00 X 3800 0 0 GINA M BALKUS DIRECTOR 3.00 X 3500 0 0 JOSEPH G FREMEAU DIRECTOR 3.00 X 3250 0 0 RONALD J RIOUX DIRECTOR 3.00 X 6150 0 0 STEPHEN J GRZYWACZ DIRECTOR 3.00 X 6150 0 0 SUZANNE I VACHON DIRECTOR 3.00 X 6150 0 0 ELIZABETH HITCHCOCK DIRECTOR 3.00 X 4650 0 0 RONALD COVEY JR CEO 40.00 X 496909 0 22069 ROBERT DESMEULES CFO & TREASURER 40.00 X 216023 0 11124 JUDY LECLERC SR. RESIDENTIAL LOAN OFFICER 40.00 X 231209 0 19972 IAN LUCY EXEC. DIRECTOR OF OPS AND IT 40.00 X 338947 0 19578 DONALD ST GERMAIN CHIEF LENDING OFFICER 40.00 X 217065 0 19052 KENNETH SENUS CHIEF OPERATING OFFICER 40.00 X 169258 0 22156 SUNSHINE VOISINE RESIDENTIAL LOAN ORIG 40.00 X 175950 0 5481 1888911 0 119432 20 0 1 0 CU COOPERATIVE SYSTEMS INC 9692 HAVEN AVE RANCHO CUCAMONGA CA 02920 ATM NETWORK 583106 TOTAL SYSTEM SERVICES INC PO BOX 2506 COLUMBUS GA 31902 CREDIT CARD PROCESSING 418320 SYNERGENT PO BOX 1236 PORTLAND ME 04104 STATEMENT SERVICES AND POSTAGE 342755 ARKATECHTURE 433 US RTE ONE STE 206 YORK ME 03909 DATA WAREHOUSE REPORTING 287569 BIRCHWOOD CREDIT SERVICES INC PO BOX 266391 WESTON FL 33326 CREDIT REPORTING/UNDERWRITING 150871 14 LOAN INCOME FROM MEMBERS 522100 30357036 30357036 SERVICE CHARGES 522100 8691075 8186351 504724 OTHER OPERATING INCOME 522100 2328029 2328029 41376140 1335810 98827 1236983 104040490 2375736 101571271 2706587 2469219 -330851 2138368 2138368 44850318 40871416 603551 3375351 176631 3987032 789675 11894289 1291013 1587548 995270 53671 416355 438296 857708 677996 1468513 144711 71735 949669 3011925 156103 PROVISION FOR LOAN LOSS 4482434 OTHER EQUIPMENT 2685356 DEBIT CARD EXPENSE 1059359 CREDIT BUREAU/UNDERWRIT 486713 2919103 40601105 13405869 4191890 56029235 53026512 2042038 2317629 807435005 850680130 1385275 1241679 35814761 13519313 23677250 22295448 21301094 18725202 3517600 3130000 31385590 33364747 960178956 988973237 209713 190269 591008 547067 38300000 48300000 856415174 870494784 895515895 919532120 X 0 0 0 0 64663061 69441117 64663061 69441117 960178956 988973237 X 4249213 118975 4 409864 X 0 1 X 1 0 0 1 X 612760 612760 21749718 5638831 16110887 13429830 7858029 5571801 22453 22453 0 22295448 MEMBERS' SHARES 856510300 OTHER LIABILITIES 13984484 870494784 X 44090521 0 44090521 759797 759797 44850318 39841308 0 39841308 759797 759797 40601105 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 EXPENSE FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016; 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 2013. PART XI, LINE 4B - OTHER ADJUSTMENTS: OMSR EXPENSES 686,515. ORIGINATION FEES 73,282. PART XII, LINE 4B - OTHER ADJUSTMENTS: OMSR EXPENSES 686,515. ORIGINATION FEES 73,282. 1 BOYS & GIRLS CLUB OF MANCHESTER 555 UNION STREET MANCHESTER NH 03104 020226033 501(C)(3) 15000 CHARITABLE SUPPORT CATHOLIC MEDICAL CENTER 100 MCGREGOR STREET MANCHESTER NH 031023770 020315693 501(C)(3) 6200 CHARITABLE SUPPORT EASTER SEALS NH 555 AUBURN STREET MANCHESTER NH 03103 020272825 501(C)(3) 5700 CHARITABLE SUPPORT GRANITE UNITED WAY 22 CONCORD STREET FLOOR 2 MANCHESTER NH 03101 026006033 501(C)(3) 32000 CHARITABLE SUPPORT MANCHESTER HISTORICAL SOCIETY 129 AMHERST STREET MANCHESTER NH 03101 020223390 501(C)(3) 7500 CHARITABLE SUPPORT NH INSTITUTE OF ART 148 CONCORD STREET MANCHESTER NH 03104 020222154 501(C)(3) 6000 CHARITABLE SUPPORT NH VETERANS CEMETARY ASSOCIATES PO BOX 626 CONCORD NH 03302 020519618 501(C)(3) 10000 CHARITABLE SUPPORT 7 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 0 0 RONALD COVEY JR CEO 364786 0 99841 0 32282 0 4050 0 18019 0 518978 0 0 0 ROBERT DESMEULES CFO & TREASURER 180598 0 31775 0 3650 0 3267 0 7857 0 227147 0 0 0 JUDY LECLERC SR. RESIDENTIAL LOAN OFFICER 67861 0 136942 0 26406 0 3552 0 16420 0 251181 0 0 0 IAN LUCY EXEC. DIRECTOR OF OPS AND IT 246378 0 81664 0 10905 0 4050 0 15528 0 358525 0 0 0 DONALD ST GERMAIN CHIEF LENDING OFFICER 183906 0 31482 0 1677 0 3322 0 15730 0 236117 0 0 0 KENNETH SENUS CHIEF OPERATING OFFICER 163308 0 0 0 5950 0 2656 0 19500 0 191414 0 0 0 SUNSHINE VOISINE RESIDENTIAL LOAN ORIG 34829 0 137866 0 3255 0 2681 0 2800 0 181431 0 0 0 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, PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C NEW EMPLOYEES ARE REQUIRED TO ACKNOWLEDGE THAT THEY HAVE READ AND UNDERSTAND THIS POLICY. AS UPDATES TO THE POLICY OCCUR, ALL SMB EMPLOYEES ARE REQUIRED TO ACKNOWLEDGE THAT THEY HAVE READ AND UNDERSTAND THE REVISED POLICY AS APPLICABLE. IN ADDITION, THE DIRECTOR OF HR SENDS OUT AN ANNUAL "ALL EMPLOYEE" COMMUNICATION REMINDING EMPLOYEES TO USE THE REVIEW PROCESS FOR ANY SITUATIONS THAT MIGHT BE PERCEIVED AS QUESTIONABLE. 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 409,864. RIVERSIDE FINANCIAL SERVICES INC 200 MCGREGOR STREET MANCHESTER NH 03102 020419388 INACTIVE NH ST MARY'S BANK CREDIT UNION C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0