2012-11-13T14:18:13-06:00 2011-12-31 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2011-01-01 020239894 Woodlands Credit Union WOOD 6037525650 730 Main Street Berlin NH 03570 Timothy J Collia 6037525650 2012-11-09 1 Barbara J McGuan CPA P00219457 2077752387 2012-11-09 2011 2016-02-24 21:20:13Z Timothy J Collia 730 Main Street Berlin NH 03570 6078321 0 X www.woodlandscu.com X 1956 NH Deposits and lending to credit union members 9 9 63 12 0 0 0 0 4605303 4840810 371030 295047 0 0 4976333 5135857 11000 11000 0 0 1782242 2112844 0 0 0 3329720 3411130 5122962 5534974 -146629 -399117 88212585 106810764 66051415 83971769 22161170 22838995 X To offer and promote a variety of affordable financial services with emphasis on delivery of quality service and education for the benefit of our membership, our staff and our community. 1 0 Woodlands is a member-owned organization committed to providing superior financial services to the community. At 12/31/11 there were 16,343 depositors and 4,224 borrowers. Woodlands has provided approximately 6,015 installment, real estate, and credit card loans to members. The outstanding balance for these loans at 12/31/11 was $62,886,952. Student loans, net origination fees, certificates of deposit, and other loans have an outstanding balance of $16,841,524. 11 scholarships for higher education are awarded annually to high school students who are members of the credit union and meet specific criteria. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2820 0 1 63 1 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NH X Timothy J Collia 6037525650 730 Main Street Berlin NH 03570 Terry Block 6.00 X X 0 0 0 Rick Fournier 6.00 X X 0 0 0 Mike Brosnan 5.00 X X 0 0 0 Dennis Bilodeau 5.00 X 0 0 0 Jeannine Larin 5.00 X 0 0 0 Regis Saucier 5.00 X X 0 0 0 Lucille St Onge-Hickey 5.00 X 0 0 0 Paul Partenope 6.00 X 0 0 0 Chad Rolston 5.00 X 0 0 0 Timothy J Collia 47.00 X 137694 0 22785 137694 0 22785 1 0 1 0 Fiserv 75 Remittance Drive Suite 6962 Chicago IL 606756962 Data Processing Services 332425 Glen Group PO Box 2838 North Conway NH 03860 Marketing/Advertising Services 157839 Bauen Corporation PO Box 1621 Meredith NH 03253 Building Remodeling 143227 3 Interest Income 522100 3239101 3239101 Fee Revenue 522100 1601709 1601709 4840810 350889 350889 744084 142538 741000 201464 3084 -58926 -55842 -55842 5135857 4840810 0 295047 11000 160479 1414552 53604 357562 126647 4051 41704 165559 243819 111052 391046 277497 270104 299687 104647 Administrative Fees 511075 Bad Debt Expense 284407 Bank Fees 276026 Maintenance Expense 249534 180922 5534974 1364064 1985806 9221 4640 64375868 79403665 1234713 1457005 10732208 3818677 4578910 6913531 8451319 8016561 7939938 8327098 469582 258552 232876 88212585 106810764 179617 288041 65871798 83683728 66051415 83971769 X 4850000 4850000 0 0 17311170 17988995 22161170 22838995 88212585 106810764 X -399117 1076942 X X 0 1 1 X 0 2095425 2095425 5897647 1742830 4154817 2636005 2075847 560158 103131 103131 6913531 CU Direct Corp Shares 500000 C Eascorp 1276161 C Tricorp FCU 6550937 C 8327098 Deposits 83683728 83683728 1 College Scholarships 11 11000 Scholarship checks are awarded to the students upon receipt of their tuition bills and enrollment verification. X X X X 0 0 0 Timothy J Collia 127057 0 0 0 10637 0 6556 0 16229 0 160479 0 0 0 New Program Services Form 990, Part III, line 2 Effective July 1, 2011, Upper Valley Community Credit Union was merged with Woodlands Credit Union. This merger expands the Credit Union's geographical area to include Lebanon, New Hampshire and the surrounding businesses and communities. Form 990, Part VI, Section A, line 6 Membership at Woodlands Credit Union is open to anyone living, working or attending school in Coos, Grafton, Carroll or Belknap Counties of NH, or within a 30 mile radius of any Woodlands Credit Union. Form 990, Part VI, Section A, line 7a Members are responsible for electing the members of the Organization's governing body. Form 990, Part VI, Section A, line 7b Except in the case of a merger, decisions of the governing body are not subject to approval of the credit union members. Form 990, Part VI, Section B, line 11 The full governing board reviews the return before it is filed. Form 990, Part VI, Section B, line 12c The Organization's policy is reviewed with a required acknowledgement (written signature), by all staff, volunteers and members of the governing body annually. Form 990, Part VI, Section B, line 15 A compensation consultant defines the salary range for the CEO using national data for similar positions at credit unions and banks. An independent salary committee reviews and approves any salary changes for the CEO and then provides its recommendation to the full Board of Directors. The Board of Directors has the final voting approval of the CEO's compensation. Both the committee and the Board of Directors document any actions taken. The CEO, using the same consultant and comparative salary data, sets the compensation of the other employees of the Organization. Form 990, Part VI, Section C, line 19 The Organization's governing documents are available to the public upon request. The conflict of interest policy is not available to the public. The Organization has made its financial statements available to the public by posting a copy in the branch lobby each month. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 4,952. Equity Acquired in Merger 1,071,990. Total to Form 990, Part XI, Line 5: 1,076,942. Oversight of Audit Form 990, Part XI, Line 2c: The Organization's process for oversight of the audit had not changed from prior years. Audited Financial Statements Form 990, Part IV, Line 12a: The Credit Union prepared financial statements for the 18 month period ended December 31, 2011. These financial statements were audited by an independent certified public accounting firm.