2011-11-07T15:13:21-06:00 2010-12-31 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2010-01-01 020239894 Woodlands Credit Union WOOD 6037525650 730 Main Street Berlin NH 03570 Timothy J Collia 6037525650 2011-11-04 1 Barbara J McGuan CPA 2077752387 2011-11-04 2010 2016-03-07 17:11:31Z Timothy J Collia 730 Main Street Berlin NH 03570 5772657 0 X www.woodlandscu.com X 1956 NH Deposits and lending to credit union members 9 9 54 11 0 0 0 0 4561776 4605303 458133 371030 0 0 5019909 4976333 11000 11000 0 0 1889535 1782242 0 0 0 3559158 3329720 5459693 5122962 -439784 -146629 89845543 88212585 67495858 66051415 22349685 22161170 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. 0 0 Woodlands is a member-owned organization committed to providing superior financial services to the community. At 12/31/10 there were 13,306 depositors and 3,789 borrowers. Woodlands has provided approximately 5,846 installment, real estate, and credit card loans to members. The outstanding balance for these loans at 12/31/10 was $51,929,105. Student loans, net origination fees, certificates of deposit, and other loans have an outstanding balance of $15,610,390. 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 2800 0 1 54 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 John Fuller 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 0 0 0 Lucille St Onge-Hickey 5.00 X 0 0 0 Paul Partenope 6.00 X 0 0 0 Timothy J Collia 45.00 X 238630 0 21750 238630 0 21750 1 0 1 0 Fiserv PO Box 99924 Grapevine TX 760999724 Data Processing Services 321002 1 Interest Income 522100 3125053 3125053 Fee Revenue 522100 1480250 1480250 4605303 413817 413817 567808 185729 550268 246056 17540 -60327 -42787 -42787 4976333 4605303 0 371030 11000 260380 1071210 22423 317734 110495 2374 42567 94909 147533 139506 337259 219166 6388 380793 234954 115907 Bad Debt Expense 585972 Administrative Fees 429241 Maintenance Expense 237501 Bank Fees 230616 Lending Services 54485 70549 5122962 1668901 1364064 3192 9221 66909022 64375868 2819083 1234713 6894098 2315188 4733917 4578910 7366571 8451319 6080059 7939938 264798 258552 89845543 88212585 345082 179617 67150776 65871798 67495858 66051415 X 4850000 4850000 0 0 17499685 17311170 22349685 22161170 89845543 88212585 X -146629 -41886 X X 0 0 1 0 1545425 1545425 4494136 1657752 2836384 851972 657436 194536 2565 2565 4578910 CU Direct Corp Shares 500000 C Eascorp 3108626 C Tricorp FCU 4331312 C 7939938 Deposits 65871798 65871798 1 College Scholarships 11 11000 Other Information: Part IV: Scholarship checks are awarded to the students upon receipt of their tuition bills and enrollment verification. X X X X 0 1 0 Timothy J Collia 125599 0 0 0 113031 0 6293 0 15457 0 260380 0 0 0 Part I, Line 4b Timothy J. Collia, The Organization's CEO, received $105,622 from a supplemental non-qualified returnment plan in 2010. 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 losses on investments: -41,886. Audited Financial Statements Form 990, Part XI, Line 2b: The Credit Union prepares fiscal year end financial statements at June 30 which are audited annually by an independent certified public accounting firm. Oversight of Audit Form 990, Part XI, Line 2c: The Organization's process for oversight of the audit had not changed from prior years.