2025-11-17T12:54:01-06:00 2024-12-31 393647910 WIPFLI ADVISORY LLC 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2024-01-01 010196194 MAINE STATE CREDIT UNION MAIN 8005408707 PO BOX 5659 AUGUSTA ME 043325659 NEAL BLAKE CFO 8005408707 2025-11-07 1 1 JULIA HOWLAND CPA P01711658 2077745701 2025-11-07 2024 2025-03-06 01:10:19Z STEPHEN WALLACE PO BOX 5659 AUGUSTA ME 043325659 46243952 0 X WWW.MAINESTATECU.ORG X 1935 ME PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 10 10 182 10 187752 0 55840 55686 21860081 29936288 3207024 4242953 5108727 5575783 30231672 39810710 202037 200599 7021981 13779480 10617031 11745132 0 0 0 10941248 13031356 28782297 38756567 1449375 1054143 643067217 701935355 588613489 639910255 54453728 62025100 PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 0 0 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. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 11833 0 1 182 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X NEAL BLAKE 8005408707 PO BOX 5659 AUGUSTA ME 043325659 ERIC POIRIER CHAIRPERSON 1.00 X X 0 0 0 LIZ OUELLETTE VICE CHAIRPERSON 1.00 X X 0 0 0 ROLAND MAHEUX TREASURER 1.00 X X 0 0 0 GEORGE LAPOINTE SECRETARY 1.00 X X 0 0 0 LEONARD CABANA DIRECTOR 1.00 X 0 0 0 GARY CROCKER DIRECTOR 1.00 X 0 0 0 THOMAS CUSICK DIRECTOR 1.00 X 0 0 0 DUNCAN MACKELLAR DIRECTOR 1.00 X 0 0 0 MICHAEL RODERIGUE DIRECTOR 1.00 X 0 0 0 JAMES SOUCIE DIRECTOR 1.00 X 0 0 0 STEPHEN WALLACE PRESIDENT/CEO 40.00 X 399928 0 34617 BRIE MELLOR SVP/CHIEF LENDING OFFICER 40.00 X 193109 0 33545 SHANE ABBOTT SVP/CHIEF STRATEGY OFFICER 40.00 X 195012 0 33755 AMANDA CROMMETT SVP/CHIEF RETAIL OFFICER 40.00 X 137462 0 14736 JASON HILT SVP/CFO (THRU AUG '24) THEN SVP/CONTROLLER 40.00 X 134441 0 25022 NEAL BLAKE SVP/CHIEF FINANCIAL OFFICER 40.00 X 47963 0 9572 BRUCE HARRINGTON SVP COMMERCIAL LENDING 40.00 X 164974 0 27571 ELIZEBETH JEAN SVP RESIDENTIAL MORTGAGE 40.00 X 149305 0 32169 JEFFREY CHARLAND VP COMMERCIAL LOAN OFFICER 40.00 X 152157 0 13099 JENNIFER BECHARD VP OF HUMAN RESOURCES 40.00 X 139566 0 30880 MITCHELL RYAN VP TECHNOLOGY OPERATIONS 40.00 X 140508 0 33979 1854425 0 288945 17 0 1 0 SYNERGENT 2 LEDGEVIEW DR WESTBROOK ME 04092 DATA PROCESSING 1696071 WORKGROUP TECHNOLOGY PARTNERS INC PO BOX 110 WESTBROOK ME 04098 MANAGED IT SERVICES 572015 ALKAMI TECHNOLOGY INC 5601 GRANITE PKWY STE 120 PLANO TX 75024 DATA PROCESSING 508445 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 FINANCIAL SERVICES 334270 ABRIGO PO BOX 677883 DALLAS TX 752677883 DATA PROCESSING 218256 13 55686 55686 LOAN INCOME FROM MEMBERS 522100 29936288 29936288 29936288 4210027 4210027 24152 0 24152 24152 24152 6458579 6425653 32926 32926 32926 7589 55686 7589 0 SERVICE CHARGES AND FEES 522100 4646969 4646969 OTHER INCOME 522100 716910 716910 ORGANIZATION FEES 522100 127330 127330 60422 60422 5551631 39810710 35300167 187752 4267105 200599 13779480 1259162 7922524 360833 2202613 30577 116965 12944 1671001 529327 391565 761853 1157312 489546 767 123003 1123549 158290 PROVISION FOR LOAN LOSS 3329540 SUPERVISION & EXAMINATI 1852126 LOAN SERVICING & COLLEC 1104939 EDUCATION 114173 63879 38756567 5278933 5096263 72477110 28166400 12334750 10331604 402520879 505375680 23067863 8390594 14323991 14677269 97585802 93527090 110000 110000 38435752 44651049 643067217 701935355 2864423 2668156 18000000 585749066 619242099 588613489 639910255 X 0 0 0 0 54453728 62025100 54453728 62025100 643067217 701935355 X 1054143 6517229 X 0 1 X 1 0 1398277 1398277 16681287 5482144 11199143 404608 94627 309981 4480568 2813823 1666745 103123 103123 14677269 OTHER ASSETS 4942454 ACCRUED INTEREST RECEIVABLE 2225153 NATIONAL CU SHARE INS. FUND DEPOSIT 5638685 TRICORP MEMBER SHARE SAVINGS 320000 RIGHT OF USE ASSET-LEASES 408925 CASH SURRENDER VALUE OF SPLIT DOLLAR 17450720 PENSION ASSET 11165551 CHARITABLE DONATION ACCOUNT 2499561 44651049 MEMBER'S SHARE AND SAVINGS ACCOUNTS 618808046 RIGHT OF USE LIABILITY - LEASES 434053 619242099 22578687 0 22578687 17232023 17232023 39810710 21524544 0 21524544 17232023 17232023 38756567 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. FEEDME5K WALK TO END HUNGER 63275 55686 7589 7589 63275 55686 7589 7589 7589 0 1 MAINE CREDIT UNION'S CAMPAIGN FOR ENDING HUNGER PO BOX 1236 PORTLAND ME 04104 261720415 501(C)(3) 100599 0 TO COMBAT FOOD INSECURITY IN MAINE THE FOUNDATION FOR MAINE COMMUNITY COLLEGES 54 LIGHTHOUSE CIRCLE SOUTH PORTLAND ME 04106 271363414 501(C)(3) 95000 0 SCHOLARSHIPS 2 0 PART I, LINE 2: FUNDRAISING ACTIVITY IS DONE FOR ESTABLISHED 501(C)(3) ORGANIZATIONS THAT ARE KNOWN IN OUR COMMUNITY. X 1 1 X X X 0 0 0 STEPHEN WALLACE PRESIDENT/CEO 371035 0 14898 0 13995 0 10166 0 24451 0 434545 0 0 0 SHANE ABBOTT SVP/CHIEF STRATEGY OFFICER 180394 0 7426 0 7192 0 6940 0 26815 0 228767 0 0 0 BRIE MELLOR SVP/CHIEF LENDING OFFICER 182536 0 7426 0 3147 0 6797 0 26748 0 226654 0 0 0 BRUCE HARRINGTON SVP COMMERCIAL LENDING 151952 0 6676 0 6346 0 1726 0 25845 0 192545 0 0 0 ELIZEBETH JEAN SVP RESIDENTIAL MORTGAGE 147730 0 1575 0 0 0 6543 0 25626 0 181474 0 0 0 MITCHELL RYAN VP TECHNOLOGY OPERATIONS 130008 0 5226 0 5274 0 9218 0 24761 0 174487 0 0 0 JENNIFER BECHARD VP OF HUMAN RESOURCES 133883 0 5683 0 0 0 10076 0 20804 0 170446 0 0 0 JEFFREY CHARLAND VP COMMERCIAL LOAN OFFICER 145853 0 6304 0 0 0 10173 0 2926 0 165256 0 0 0 JASON HILT SVP/CFO (THRU AUG '24) THEN SVP/CONT 124480 0 4961 0 5000 0 9375 0 15647 0 159463 0 0 0 AMANDA CROMMETT SVP/CHIEF RETAIL OFFICER 132229 0 5233 0 0 0 4881 0 9855 0 152198 0 0 0 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. STEPHEN WALLACE PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE/EXECUTIVE BENEFIT X 6230000 4241000 0 1 1 TUCKER COLE RETIRED, PAST PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE/EXECUTIVE BENEFIT X 8162000 4670729 0 1 1 ERIN CAMPBELL FORMER SVP/CFO (DOT 9/2023) SPLIT DOLLAR LIFE INSURANCE/EXECUTIVE BENEFIT X 952500 658875 0 1 1 ADAM KAVANAGH FORMER SVP/COO (DOT 9/2023) SPLIT DOLLAR LIFE INSURANCE/EXECUTIVE BENEFIT X 1100000 761000 0 1 1 10331604 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.