2015-05-14T13:49:01-05:00 2014-12-31 010523282 Berry Dunn McNeil & Parker LLC 1000 Elm Street 15th Floor Manchester NH 03101 990 2014-01-01 020187390 St Mary's Bank Credit Union STMA 6036694600 PO Box 990 Manchester NH 03105 Robert A Desmeules CFO & Treasurer 6036694600 2015-05-14 1 Barbara J McGuan CPA P00219457 6036697337 2015-05-14 2014 2016-02-25 16:41:14Z Ronald Covey PO Box 990 Manchester NH 03105 70818583 0 X www.stmarysbank.com X 1908 NH Provide members with savings and loan services. 8 8 287 8 541547 -126494 0 0 30638361 31803311 4521552 2941656 0 0 35159913 34744967 167244 160491 3339857 3208959 14680108 14048539 0 0 0 15464036 15843263 33651245 33261252 1508668 1483715 772023761 814655790 712248094 754640408 59775667 60015382 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 90,787 members as of December 31, 2014. Members have access to a wide variety of low-cost, high-quality services. 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 2014, St. Mary's Bank supported approximately 130 organizations through donations and sponsorships for a total of about $144,000.St. Mary's also has a formal Community Outreach Program that is delivered through partnerships with local non-profit and social services agencies. Programs include a number of specific programs to assist the underserved including Family Emergency Loans (FEL), Individual Development Accounts (IDAs) and Grants for 501 (c)(3), non-profit organizations. In 2014, St. Mary's awarded nine (9) grants totaling approximately $18,300 to non-profit organizations. In addition, $6,400 in FEL's were made to individuals and families in need.In 2002 and 2003, St. Mary's established two 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 2014, a total of three (3) scholarships for a total of $5,500 were awarded. In addition, last year our employees collectively volunteered over 1,500 hours of their time by serving on Boards of non-profits and volunteering for various community related events. St. Mary's also allows non-profits 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 2014 introduced its own new program, "Welcome Home First-time Homebuyer 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 19317 0 1 287 1 1 1 0 0 0 0 0 X 8 8 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 Director 1.00 X 6150 0 0 Daniel J Healy Director 1.00 X 5900 0 0 David H Bellman Vice Chair 1.00 X X 5750 0 0 Gina M Balkus Chairman 1.00 X X 3500 0 0 Joseph G Fremeau Director 1.00 X 3250 0 0 Ronald J Rioux Director 1.00 X 5500 0 0 Stephen J Grzywacz Director 1.00 X 4150 0 0 Suzanne I Vachon Director 1.00 X 5350 0 0 Donald St Germain Chief Lending Officer 40.00 X 180451 0 24226 Donald Stevens Chief Administrative Officer 40.00 X 212817 0 11863 Robert DesMeules CFO & Treasurer 40.00 X 166291 0 9606 Ronald Covey President & CEO 40.00 X 440397 0 28581 Steven Macek Director of Consumer Lending 40.00 X 132675 0 26948 Elizabeth Stodolski Director of Marketing 40.00 X 129839 0 24547 Karen Mayrand Director of Residential Lending 40.00 X 135202 0 10786 Judy Leclerc Residential Loan Originator 40.00 X 142268 0 18896 Ian Lucy Executive Dir. of Operations and IT 40.00 X 223165 0 11326 1802655 0 166779 16 0 1 0 CU Cooperative Systems LLC 9692 Haven Ave Rancho Cucamonga CA 02920 ATM Network 523622 Arakatechture 16 Collins Road Yarmouth ME 04096 Data Management Consulting 236665 Total System Services Inc PO Box 2506 Columbus GA 319022506 Credit Card Processing 186272 Robert Half Technology 12400 Collections Center Drive Chicago IL 60693 Temporary Employee Agency 179946 CBC Innovis Inc PO Box 535595 Pittsburg PA 152535595 Credit Reporting/Underwriting 176806 12 Loan Income From Members 522100 22654405 22654405 Service Charges 522100 7300669 6759122 541547 Other Operating Income 522100 1848237 1848237 31803311 1340272 1340272 37451000 224000 35938674 134942 1512326 89058 1601384 1601384 34744967 31261764 541547 2941656 160491 3208959 1113782 9860931 654712 1585982 833132 80666 683759 173925 664574 779163 1380969 144235 40987 1218828 2740738 136940 Provision for Loan Loss 2193659 Other Equipment 1999051 Debit Card Expense 916601 Credit Bureau/Underwrit 601013 2088155 33261252 X 6797171 6346740 60007325 38806549 1446142 1391403 575839689 675937046 1130578 1192161 32790520 9556862 23740315 23233658 73632263 36226697 4518600 4518600 24911678 27002936 772023761 814655790 258310 262511 993089 989729 40000000 40000000 670996695 713388168 712248094 754640408 X 0 0 0 0 59775667 60015382 59775667 60015382 772023761 814655790 X 1483715 228000 -1472000 X 0 1 X 1 0 0 1 X 612760 612760 21445735 3495332 17950403 10709572 6039077 4670495 22453 22453 0 23233658 Members' Shares 700670309 Other Liabilities 12717859 713388168 X 32714573 228000 228000 32486573 2258394 2258394 34744967 32474858 0 32474858 786394 786394 33261252 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: Part X: The 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 990-T in the US federal jurisdiction. With few exceptions, the Credit Union is no longer subject to examination by the Internal Revenue Service (IRS) for years before 2011. Part XI, Line 4b - Other Adjustments: OMSR Expenses 689,449. Origination Fees 96,945. Net defined benefit pension costs adjustments 1,472,000. Part XII, Line 4b - Other Adjustments: OMSR Expenses 689,449. Origination Fees 96,945. 1 Bishop's Charitable Assistance Fund 153 Ash Street Box 310 Manchester NH 031050310 501(c)(3) 5000 Charitable Support America's Credit Union Museum 418 Notre Dame Avenue PO Box 603 Manchester NH 031050603 020472576 501(c)(3) 30000 Charitable Support The Granite YMCA 117 Market Street Manchester NH 03101 020222248 501(c)(3) 5000 Charitable Support Catholic Medical Center 100 McGregor Street Manchester NH 031023770 020315693 501(c)(3) 6400 Charitable Support New Hampshire Catholic Charities 215 Myrtle Street Manchester NH 03104 020222163 501(c)(3) 6400 Charitable Support Boys & Girls Club of Manchester 555 Union Street Manchester NH 03104 020226033 501(c)(3) 5000 Charitable Support 6 0 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 Donald St Germain Chief Lending Officer 167167 0 12472 0 812 0 2800 0 21426 0 204677 0 0 0 Donald Stevens Chief Administrative Officer 172147 0 39702 0 968 0 3223 0 8640 0 224680 0 0 0 Robert DesMeules CFO & Treasurer 135294 0 28328 0 2669 0 2513 0 7093 0 175897 0 0 0 Ronald Covey President & CEO 335004 0 92306 0 13087 0 3900 0 24681 0 468978 0 0 0 Steven Macek Director of Consumer Lending 118818 0 9395 0 4462 0 2131 0 24817 0 159623 0 0 0 Elizabeth Stodolski Director of Marketing 118366 0 9017 0 2456 0 2056 0 22491 0 154386 0 0 0 Judy Leclerc Residential Loan Originator 90003 0 51476 0 789 0 3371 0 15525 0 161164 0 0 0 Ian Lucy Executive Dir. of Operations and IT 205672 0 14820 0 2673 0 3371 0 7955 0 234491 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 11 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 X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: St. Mary's Bank Credit Union P.O. Box 990 Manchester, NH 03105 EIN: 02-0187390 St. Mary's Bank Credit Union is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, line 9: Net defined benefit pension costs adjustments -1,472,000. Riverside Financial Services Inc PO Box 990 Manchester NH 031050990 020419388 Financial and Tax Planning Services NH St Mary's Bank Credit Union C 120479 362846 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0