MAINE STATE CREDIT UNION: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization: MAINE STATE CREDIT UNION (EIN 01-0196194)
Tax period: 2024-01-01 to 2024-12-31
Filed: 2025-11-17
IRS object ID: 202513219349311956
Schema version: 2024v5.2
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule G
Schedule I
Schedule J
Schedule L
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2025-11-17T12:54:01-06:00	ReturnTs
Tax Period End	2024-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	393647910	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	WIPFLI ADVISORY LLC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	30 LONG CREEK DRIVE	AddressLine1Txt
City	SOUTH PORTLAND	CityNm
State Abbreviation	ME	StateAbbreviationCd
ZIP	041062437	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2024-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	010196194	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	MAINE STATE CREDIT UNION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	MAIN	BusinessNameControlTxt
Phone	8005408707	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 5659	AddressLine1Txt
City	AUGUSTA	CityNm
State Abbreviation	ME	StateAbbreviationCd
ZIP	043325659	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	NEAL BLAKE	PersonNm
Person Title	CFO	PersonTitleTxt
Phone	8005408707	PhoneNum
Signature	2025-11-07	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	Yes (1)	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	JULIA HOWLAND CPA	PreparerPersonNm
PTIN	P01711658	PTIN
Phone	2077745701	PhoneNum
Preparation	2025-11-07	PreparationDt

Field	Value	IRS element (for citing)
Tax	2024	TaxYr
Build TS	2025-03-06 01:10:19Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	STEPHEN WALLACE	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 5659	AddressLine1Txt
City	AUGUSTA	CityNm
State Abbreviation	ME	StateAbbreviationCd
ZIP	043325659	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$46,243,952	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	WWW.MAINESTATECU.ORG	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1935	FormationYr
Legal Domicile State	ME	LegalDomicileStateCd
Activity Or Mission	PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES.	ActivityOrMissionDesc
Voting Members Governing Body	10	VotingMembersGoverningBodyCnt
Voting Members Independent	10	VotingMembersIndependentCnt
Total Employee	182	TotalEmployeeCnt
Total Volunteers	10	TotalVolunteersCnt
Total Gross UBI	$187,752	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$55,840	PYContributionsGrantsAmt
CY Contributions Grants	$55,686	CYContributionsGrantsAmt
PY Program Service Revenue	$21,860,081	PYProgramServiceRevenueAmt
CY Program Service Revenue	$29,936,288	CYProgramServiceRevenueAmt
PY Investment Income	$3,207,024	PYInvestmentIncomeAmt
CY Investment Income	$4,242,953	CYInvestmentIncomeAmt
PY Other Revenue	$5,108,727	PYOtherRevenueAmt
CY Other Revenue	$5,575,783	CYOtherRevenueAmt
PY Total Revenue	$30,231,672	PYTotalRevenueAmt
CY Total Revenue	$39,810,710	CYTotalRevenueAmt
PY Grants And Similar Paid	$202,037	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$200,599	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$7,021,981	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$13,779,480	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$10,617,031	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$11,745,132	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$10,941,248	PYOtherExpensesAmt
CY Other Expenses	$13,031,356	CYOtherExpensesAmt
PY Total Expenses	$28,782,297	PYTotalExpensesAmt
CY Total Expenses	$38,756,567	CYTotalExpensesAmt
PY Revenues Less Expenses	$1,449,375	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$1,054,143	CYRevenuesLessExpensesAmt
Total Assets BOY	$643,067,217	TotalAssetsBOYAmt
Total Assets EOY	$701,935,355	TotalAssetsEOYAmt
Total Liabilities BOY	$588,613,489	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$639,910,255	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$54,453,728	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$62,025,100	NetAssetsOrFundBalancesEOYAmt
Mission	PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Desc	THE CREDIT UNION HAS 36,829 MEMBERS AS OF 12/31/2024. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES.	Desc
Described In Section501c3	0	DescribedInSection501c3Ind
Schedule B Required	0	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	Yes (1)	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	0	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (1)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	Yes (1)	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	Yes (1)	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	Yes (1)	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Loan Outstanding	Yes (1)	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	11833	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	182	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (1)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (1)	Form990TFiledInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	10	GoverningBodyVotingMembersCnt
Independent Voting Member	10	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (1)	MembersOrStockholdersInd
Election Of Board Members	Yes (1)	ElectionOfBoardMembersInd
Decisions Subject To Approva	Yes (1)	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	0	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	Yes (1)	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	NEAL BLAKE	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	8005408707	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 5659	AddressLine1Txt
City	AUGUSTA	CityNm
State Abbreviation	ME	StateAbbreviationCd
ZIP	043325659	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Highest Compensated EmployeeHighestCompensatedEmployeeInd
ERIC POIRIER
CHAIRPERSON	1.00	Yes (X)	Yes (X)	$0	$0	$0
LIZ OUELLETTE
VICE CHAIRPERSON	1.00	Yes (X)	Yes (X)	$0	$0	$0
ROLAND MAHEUX
TREASURER	1.00	Yes (X)	Yes (X)	$0	$0	$0
GEORGE LAPOINTE
SECRETARY	1.00	Yes (X)	Yes (X)	$0	$0	$0
LEONARD CABANA
DIRECTOR	1.00	Yes (X)		$0	$0	$0
GARY CROCKER
DIRECTOR	1.00	Yes (X)		$0	$0	$0
THOMAS CUSICK
DIRECTOR	1.00	Yes (X)		$0	$0	$0
DUNCAN MACKELLAR
DIRECTOR	1.00	Yes (X)		$0	$0	$0
MICHAEL RODERIGUE
DIRECTOR	1.00	Yes (X)		$0	$0	$0
JAMES SOUCIE
DIRECTOR	1.00	Yes (X)		$0	$0	$0
STEPHEN WALLACE
PRESIDENT/CEO	40.00		Yes (X)	$399,928	$0	$34,617
BRIE MELLOR
SVP/CHIEF LENDING OFFICER	40.00		Yes (X)	$193,109	$0	$33,545
SHANE ABBOTT
SVP/CHIEF STRATEGY OFFICER	40.00		Yes (X)	$195,012	$0	$33,755
AMANDA CROMMETT
SVP/CHIEF RETAIL OFFICER	40.00		Yes (X)	$137,462	$0	$14,736
JASON HILT
SVP/CFO (THRU AUG '24) THEN SVP/CONTROLLER	40.00		Yes (X)	$134,441	$0	$25,022
NEAL BLAKE
SVP/CHIEF FINANCIAL OFFICER	40.00		Yes (X)	$47,963	$0	$9,572
BRUCE HARRINGTON
SVP COMMERCIAL LENDING	40.00			$164,974	$0	$27,571	Yes (X)
ELIZEBETH JEAN
SVP RESIDENTIAL MORTGAGE	40.00			$149,305	$0	$32,169	Yes (X)
JEFFREY CHARLAND
VP COMMERCIAL LOAN OFFICER	40.00			$152,157	$0	$13,099	Yes (X)
JENNIFER BECHARD
VP OF HUMAN RESOURCES	40.00			$139,566	$0	$30,880	Yes (X)
MITCHELL RYAN
VP TECHNOLOGY OPERATIONS	40.00			$140,508	$0	$33,979	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$1,854,425	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$288,945	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	17	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (1)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
SYNERGENT
2 LEDGEVIEW DR	WESTBROOK	ME	04092	DATA PROCESSING	$1,696,071
WORKGROUP TECHNOLOGY PARTNERS INC
PO BOX 110	WESTBROOK	ME	04098	MANAGED IT SERVICES	$572,015
ALKAMI TECHNOLOGY INC
5601 GRANITE PKWY STE 120	PLANO	TX	75024	DATA PROCESSING	$508,445
JACK HENRY & ASSOCIATES INC
PO BOX 609	MONETT	MO	65708	FINANCIAL SERVICES	$334,270
ABRIGO
PO BOX 677883	DALLAS	TX	752677883	DATA PROCESSING	$218,256

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	13	CntrctRcvdGreaterThan100KCnt
Fundraising	$55,686	FundraisingAmt
Total Contributions	$55,686	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

Field	Value	IRS element (for citing)
Desc	LOAN INCOME FROM MEMBERS	Desc
Business	522100	BusinessCd
Total Revenue Column	$29,936,288	TotalRevenueColumnAmt
Related Or Exempt Func Income	$29,936,288	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$29,936,288	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$4,210,027	TotalRevenueColumnAmt
Exclusion	$4,210,027	ExclusionAmt

Gross Rents GrossRentsGrp

Field	Value	IRS element (for citing)
Real	$24,152	RealAmt

Less Rental Expenses LessRentalExpensesGrp

Field	Value	IRS element (for citing)
Real	$0	RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$24,152	RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$24,152	TotalRevenueColumnAmt
Exclusion	$24,152	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$6,458,579	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$6,425,653	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$32,926	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$32,926	TotalRevenueColumnAmt
Exclusion	$32,926	ExclusionAmt

Field	Value	IRS element (for citing)
Fundraising Gross Income	$7,589	FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event	$55,686	ContriRptFundraisingEventAmt
Fundraising Direct Expenses	$7,589	FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
SERVICE CHARGES AND FEES	522100	$4,646,969	$4,646,969
OTHER INCOME	522100	$716,910	$716,910
ORGANIZATION FEES	522100	$127,330		$127,330

Miscellaneous Revenue MiscellaneousRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$60,422	TotalRevenueColumnAmt
Unrelated Business Revenue	$60,422	UnrelatedBusinessRevenueAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$5,551,631	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$39,810,710	TotalRevenueColumnAmt
Related Or Exempt Func Income	$35,300,167	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$187,752	UnrelatedBusinessRevenueAmt
Exclusion	$4,267,105	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$200,599	TotalAmt

Benefits To Members BenefitsToMembersGrp

Field	Value	IRS element (for citing)
Total	$13,779,480	TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$1,259,162	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$7,922,524	TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$360,833	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$2,202,613	TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$30,577	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$116,965	TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$12,944	TotalAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$1,671,001	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$529,327	TotalAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$391,565	TotalAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$761,853	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$1,157,312	TotalAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$489,546	TotalAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$767	TotalAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$123,003	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$1,123,549	TotalAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$158,290	TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt
PROVISION FOR LOAN LOSS	$3,329,540
SUPERVISION & EXAMINATI	$1,852,126
LOAN SERVICING & COLLEC	$1,104,939
EDUCATION	$114,173

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$63,879	TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$38,756,567	TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$5,278,933	BOYAmt
EOY	$5,096,263	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$72,477,110	BOYAmt
EOY	$28,166,400	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
BOY	$12,334,750	BOYAmt
EOY	$10,331,604	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$402,520,879	BOYAmt
EOY	$505,375,680	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$23,067,863	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$8,390,594	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$14,323,991	BOYAmt
EOY	$14,677,269	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$97,585,802	BOYAmt
EOY	$93,527,090	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$110,000	BOYAmt
EOY	$110,000	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$38,435,752	BOYAmt
EOY	$44,651,049	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$643,067,217	BOYAmt
EOY	$701,935,355	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$2,864,423	BOYAmt
EOY	$2,668,156	EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

Field	Value	IRS element (for citing)
EOY	$18,000,000	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$585,749,066	BOYAmt
EOY	$619,242,099	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$588,613,489	BOYAmt
EOY	$639,910,255	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	$54,453,728	BOYAmt
EOY	$62,025,100	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$54,453,728	BOYAmt
EOY	$62,025,100	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$643,067,217	BOYAmt
EOY	$701,935,355	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	$1,054,143	ReconcilationRevenueExpnssAmt
Other Changes In Net Assets	$6,517,229	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	Yes (1)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (1)	AuditCommitteeInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,398,277	OtherCostOrOtherBasisAmt
Book Value	$1,398,277	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$16,681,287	OtherCostOrOtherBasisAmt
Depreciation	$5,482,144	DepreciationAmt
Book Value	$11,199,143	BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$404,608	OtherCostOrOtherBasisAmt
Depreciation	$94,627	DepreciationAmt
Book Value	$309,981	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$4,480,568	OtherCostOrOtherBasisAmt
Depreciation	$2,813,823	DepreciationAmt
Book Value	$1,666,745	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$103,123	OtherCostOrOtherBasisAmt
Book Value	$103,123	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$14,677,269	TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (8 entries)

DescDesc	Book ValueBookValueAmt
OTHER ASSETS	$4,942,454
ACCRUED INTEREST RECEIVABLE	$2,225,153
NATIONAL CU SHARE INS. FUND DEPOSIT	$5,638,685
TRICORP MEMBER SHARE SAVINGS	$320,000
RIGHT OF USE ASSET-LEASES	$408,925
CASH SURRENDER VALUE OF SPLIT DOLLAR	$17,450,720
PENSION ASSET	$11,165,551
CHARITABLE DONATION ACCOUNT	$2,499,561

Field	Value	IRS element (for citing)
Total Book Value Other Assets	$44,651,049	TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDesc	AmtAmt
MEMBER'S SHARE AND SAVINGS ACCOUNTS	$618,808,046
RIGHT OF USE LIABILITY - LEASES	$434,053

Field	Value	IRS element (for citing)
Total Liability	$619,242,099	TotalLiabilityAmt
Total Rev Etc Audited Fincl Stmt	$22,578,687	TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported	$0	RevenueNotReportedAmt
Revenue Subtotal	$22,578,687	RevenueSubtotalAmt
Other Revenues Not Included	$17,232,023	OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt	$17,232,023	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$39,810,710	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$21,524,544	TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported	$0	ExpensesNotReportedAmt
Expenses Subtotal	$21,524,544	ExpensesSubtotalAmt
Other Expenses Not Included	$17,232,023	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$17,232,023	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$38,756,567	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
PART XI, LINE 4B - OTHER ADJUSTMENTS:	PROVISION FOR LOAN LOSSES 3,329,540. BENEFITS PAID TO MEMBERS AND INTEREST EXPENSE 13,902,483.
PART XII, LINE 4B - OTHER ADJUSTMENTS:	BENEFITS PAID TO MEMBERS AND INTEREST EXPENSE 13,902,483. PROVISION FOR LOAN LOSSES 3,329,540.

Schedule G IRS990ScheduleG

Fundraising Event Information FundraisingEventInformationGrp

Field	Value	IRS element (for citing)
Event1	FEEDME5K WALK TO END HUNGER	Event1Nm
Gross Receipts Event1	$63,275	GrossReceiptsEvent1Amt
Charitable Contri Event1	$55,686	CharitableContriEvent1Amt
Gross Revenue Event1	$7,589	GrossRevenueEvent1Amt
Other Direct Expenses Event1	$7,589	OtherDirectExpensesEvent1Amt
Gross Receipts Total	$63,275	GrossReceiptsTotalAmt
Charitable Contributions Tot	$55,686	CharitableContributionsTotAmt
Gross Revenue Total Events	$7,589	GrossRevenueTotalEventsAmt
Oth Direct Expnss Total Events	$7,589	OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events	$7,589	DirectExpenseSummaryEventsAmt
Net Income Summary	$0	NetIncomeSummaryAmt

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (1)	GrantRecordsMaintainedInd

Recipient Table RecipientTable (2 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Recipient EINRecipientEIN	IRC SectionIRCSectionDesc	Cash GrantCashGrantAmt	Non Cash AssistanceNonCashAssistanceAmt	Purpose Of GrantPurposeOfGrantTxt
MAINE CREDIT UNION'S CAMPAIGN FOR ENDING HUNGER
PO BOX 1236	PORTLAND	ME	04104	261720415	501(C)(3)	$100,599	$0	TO COMBAT FOOD INSECURITY IN MAINE
THE FOUNDATION FOR MAINE COMMUNITY COLLEGES
54 LIGHTHOUSE CIRCLE	SOUTH PORTLAND	ME	04106	271363414	501(C)(3)	$95,000	$0	SCHOLARSHIPS

Field	Value	IRS element (for citing)
Total501c3 Org	2	Total501c3OrgCnt
Total Other Org	0	TotalOtherOrgCnt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART I, LINE 2:	FormAndLineReferenceDesc
Explanation	FUNDRAISING ACTIVITY IS DONE FOR ESTABLISHED 501(C)(3) ORGANIZATIONS THAT ARE KNOWN IN OUR COMMUNITY.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Travel For Companions	Yes (X)	TravelForCompanionsInd
Written Policy Ref T And E Expnss	Yes (1)	WrittenPolicyRefTAndEExpnssInd
Substantiation Required	Yes (1)	SubstantiationRequiredInd
Written Employment Contract	Yes (X)	WrittenEmploymentContractInd
Compensation Survey	Yes (X)	CompensationSurveyInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	0	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	0	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	0	EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Bonus Related OrganizationsBonusRelatedOrganizationsAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt	Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
STEPHEN WALLACE
PRESIDENT/CEO	$371,035	$0	$14,898	$0	$13,995	$0	$10,166	$0	$24,451	$0	$434,545	$0	$0	$0
SHANE ABBOTT
SVP/CHIEF STRATEGY OFFICER	$180,394	$0	$7,426	$0	$7,192	$0	$6,940	$0	$26,815	$0	$228,767	$0	$0	$0
BRIE MELLOR
SVP/CHIEF LENDING OFFICER	$182,536	$0	$7,426	$0	$3,147	$0	$6,797	$0	$26,748	$0	$226,654	$0	$0	$0
BRUCE HARRINGTON
SVP COMMERCIAL LENDING	$151,952	$0	$6,676	$0	$6,346	$0	$1,726	$0	$25,845	$0	$192,545	$0	$0	$0
ELIZEBETH JEAN
SVP RESIDENTIAL MORTGAGE	$147,730	$0	$1,575	$0	$0	$0	$6,543	$0	$25,626	$0	$181,474	$0	$0	$0
MITCHELL RYAN
VP TECHNOLOGY OPERATIONS	$130,008	$0	$5,226	$0	$5,274	$0	$9,218	$0	$24,761	$0	$174,487	$0	$0	$0
JENNIFER BECHARD
VP OF HUMAN RESOURCES	$133,883	$0	$5,683	$0	$0	$0	$10,076	$0	$20,804	$0	$170,446	$0	$0	$0
JEFFREY CHARLAND
VP COMMERCIAL LOAN OFFICER	$145,853	$0	$6,304	$0	$0	$0	$10,173	$0	$2,926	$0	$165,256	$0	$0	$0
JASON HILT
SVP/CFO (THRU AUG '24) THEN SVP/CONT	$124,480	$0	$4,961	$0	$5,000	$0	$9,375	$0	$15,647	$0	$159,463	$0	$0	$0
AMANDA CROMMETT
SVP/CHIEF RETAIL OFFICER	$132,229	$0	$5,233	$0	$0	$0	$4,881	$0	$9,855	$0	$152,198	$0	$0	$0

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
PART I, LINE 1A	TRAVEL FOR SPOUSES IS OFFERED TO BOARD MEMBERS ATTENDING CERTAIN EVENTS. 1099S ARE PROVIDED IF THE AMOUNT OF TRAVEL EXCEEDS $600 DURING THE YEAR. THERE WERE NO INSTANCES WHERE THIS HAPPENED IN 2024.
PART I, LINE 3	BOARD OF DIRECTORS USES DATA PROVIDED BY OUR SALARY ADMINISTRATION SYSTEM.

Schedule L IRS990ScheduleL

Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (4 entries)

Relationship With OrgRelationshipWithOrgTxt	Loan PurposeLoanPurposeTxt	Loan From OrganizationLoanFromOrganizationInd	Original PrincipalOriginalPrincipalAmt	Balance DueBalanceDueAmt	DefaultDefaultInd	Board Or Committee ApprovalBoardOrCommitteeApprovalInd	Written AgreementWrittenAgreementInd
STEPHEN WALLACE
PRESIDENT/CEO	SPLIT DOLLAR LIFE INSURANCE/EXECUTIVE BENEFIT	Yes (X)	$6,230,000	$4,241,000	0	Yes (1)	Yes (1)
TUCKER COLE
RETIRED, PAST PRESIDENT/CEO	SPLIT DOLLAR LIFE INSURANCE/EXECUTIVE BENEFIT	Yes (X)	$8,162,000	$4,670,729	0	Yes (1)	Yes (1)
ERIN CAMPBELL
FORMER SVP/CFO (DOT 9/2023)	SPLIT DOLLAR LIFE INSURANCE/EXECUTIVE BENEFIT	Yes (X)	$952,500	$658,875	0	Yes (1)	Yes (1)
ADAM KAVANAGH
FORMER SVP/COO (DOT 9/2023)	SPLIT DOLLAR LIFE INSURANCE/EXECUTIVE BENEFIT	Yes (X)	$1,100,000	$761,000	0	Yes (1)	Yes (1)

Field	Value	IRS element (for citing)
Total Balance Due	$10,331,604	TotalBalanceDueAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6	THE FIELD OF MEMBERSHIP IN THIS CREDIT UNION INCLUDES ANYONE WHO LIVES, WORKS, WORSHIPS, OR GOES TO SCHOOL IN ANDROSCOGGIN, CUMBERLAND, KENNEBEC, KNOX, LINCOLN, SAGADAHOC, SOMERSET, OR WALDO COUNTIES, OR IF YOU OR SOMEONE IN YOUR IMMEDIATE FAMILY IS A CURRENT OR RETIRED STATE EMPLOYEE. MEMBERSHIP IS ALSO ELIGIBLE TO EMPLOYEES OR MEMBERS OF THE FOLLOWING ORGANIZATIONS: MAINE STATE EMPLOYEES, MAINE STATE EMPLOYEES' ASSOCIATION, MAINE HOUSING AUTHORITY, MAINE TECHNICAL/COMMUNITY COLLEGE SYSTEM, MAINE STATE RETIREMENT SYSTEM, MAINE ASSOCIATION OF RETIREES. ALSO INCLUDED ARE RETIREES OF ANY OF THE ABOVE ORGANIZATIONS AS WELL AS ANY INDIVIDUAL RECEIVING A MAINE STATE RETIREMENT PENSION.
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 SENIOR VICE PRESIDENT, CONTROLLER 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 JUNE 2022 BOARD MEETING AND THERE WERE NO CHANGES FOUND.
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 6,517,229.