2023-11-07T14:52:18-06:00 2022-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2022-01-01 010196194 MAINE STATE CREDIT UNION MAIN 8005408707 PO BOX 5659 AUGUSTA ME 043325659 JASON HILT INTERIM CFO 8005408707 2023-11-07 1 JASON HILT 999009999 1 JULIA HOWLAND CPA P01711658 2077745701 2023-11-06 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z STEPHEN WALLACE PO BOX 5659 AUGUSTA ME 043325659 38982482 0 X WWW.MAINESTATECU.ORG X 1935 ME PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 11 11 145 11 149597 0 0 44115 16773264 17601865 1507352 2218674 4138020 4383727 22418636 24248381 0 85040 2912534 2798098 6778032 8355070 0 0 0 8149415 9666648 17839981 20904856 4578655 3343525 575894366 586697194 512259510 534910747 63634856 51786447 PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 0 0 THE CREDIT UNION HAS 33,706 MEMBERS AS OF 12/31/2022. 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 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9608 0 1 145 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X JASON HILT 8005408707 PO BOX 5659 AUGUSTA ME 043325659 ERIC POIRIER VICE CHAIR/SECRETARY 1.00 X X 0 0 0 DUNCAN MACKELLAR DIRECTOR 1.00 X 0 0 0 MICHAEL RODERIGUE DIRECTOR 1.00 X 0 0 0 LIZ OUELLETTE DIRECTOR 1.00 X 0 0 0 LEONARD CABANA DIRECTOR 1.00 X 0 0 0 THOMAS CUSICK DIRECTOR 1.00 X 0 0 0 JAMES SOUCIE DIRECTOR 1.00 X 0 0 0 GARY CROCKER DIRECTOR 1.00 X 0 0 0 ROLAND MAHEUX DIRECTOR 1.00 X 0 0 0 SU LEIGH DIRECTOR 1.00 X 0 0 0 GEORGE LAPOINTE CHAIRPERSON 1.00 X X 0 0 0 MITCHELL RYAN VP OF TECHNOLOGY OPERATIONS 40.00 X 104618 0 16284 SHANE ABBOTT SVP/CHIEF RETAIL OFFICER 40.00 X 131945 0 23301 ADAM KAVANAGH SVP/CHIEF OPERATIONS OFFIC 40.00 X 186782 0 19678 BRIE MELLOR SVP/CHIEF LENDING OFFICER 40.00 X 139875 0 32910 ERIN CAMPBELL SVP/CHIEF FINANCIAL OFFICE 40.00 X 194425 0 35268 TUCKER COLE PRESIDENT/CEO (THRU JUNE) 40.00 X 321996 0 31196 STEPHEN WALLACE PRESIDENT/CEO 40.00 X 273602 0 24925 JENNIFER ROPER VP OF MARKETING 40.00 X 122517 0 7984 ANGELA HARVEY VP OF HUMAN RESOURCE 40.00 X 172030 0 13159 BRUCE HARRINGTON VP OF COMMERICAL LENDING 40.00 X 131743 0 35604 1779533 0 240309 10 0 1 0 SYNERGENT 2 LEDGEVIEW DR WESTBROOK ME 04092 DATA PROCESSING 1292580 WORKGROUP TECHNOLOGY PARTNERS INC PO BOX 110 WESTBROOK ME 04098 MANAGED IT SERVICES 377773 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 FINANCIAL SERVICES 285380 ALKAMI 5601 GRANITE PKWY STE 120 PLANO TX 75024 DATA PROCESSING 255306 ALDEN LONGFELLOW 350 LITCHFIELD RD FARMINGDALE ME 04344 LANDSCAPE / PROPERTY MANAGEMENT 126635 5 44115 44115 LOAN INCOME FROM MEMBERS 522100 17601865 17601865 17601865 2288535 2288535 14657065 14726926 -69861 -69861 -69861 7175 44115 7175 0 SERVICE CHARGES AND FEES 522100 3831144 3831144 OTHER INCOME 522100 402986 402986 INSURANCE FEES 522100 106922 106922 42675 42675 4383727 24248381 21835995 149597 2218674 85040 2798098 1536806 5319094 206838 1292332 25037 101514 18971 1328626 671921 350330 592675 877483 322172 805 848187 125631 SUPERVISION & EXAMINATI 1601090 PROVISION FOR LOAN LOSS 1441830 LOAN SERVICING & COLLEC 1121848 EDUCATION 112600 125928 20904856 3303395 4361142 76950730 59291121 333442466 361360311 18884987 6922551 10260831 11962436 124392912 106560002 110000 110000 27434032 43052182 575894366 586697194 2070003 1961935 510189507 532948812 512259510 534910747 X 0 0 0 0 63634856 51786447 63634856 51786447 575894366 586697194 X 3343525 -15191934 X 0 1 X 1 0 1398277 1398277 11617490 4517927 7099563 374694 6985 367709 4020645 2397639 1623006 1473881 1473881 11962436 OTHER ASSETS 10594102 ACCRUED INTEREST RECEIVABLE 1470590 NATIONAL CU SHARE INS. FUND DEPOSIT 4826923 TRICORP MEMBER SHARE SAVINGS 400000 CREDIT UNION OWNED LIFE INSURANCE 8452555 RIGHT OF USE ASSET-LEASES 616844 CASH SURRENDER VALUE OF SPLIT DOLLAR 16691168 43052182 MEMBER'S SHARE AND SAVINGS ACCOUNTS 532311941 RIGHT OF USE LIABILITY - LEASES 636871 532948812 20008453 0 20008453 4239928 4239928 24248381 16664928 0 16664928 4239928 4239928 20904856 PART XI, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR LOAN LOSSES 1,441,830. BENEFITS PAID TO MEMBERS 2,798,098. PART XII, LINE 4B - OTHER ADJUSTMENTS: BENEFITS PAID TO MEMBERS 1,441,830. PROVISION FOR LOAN LOSSES 2,798,098. FEEDME5K WALK TO END HUNGER 51290 44115 7175 7175 51290 44115 7175 7175 7175 0 0 MAINE CREDIT UNION'S CAMPAIGN FOR ENDING HUNGER PO BOX 1236 PORTLAND ME 04104 261720415 501(C)(3) 85040 0 TO END HUNGER 1 0 X 1 0 0 TUCKER COLE PRESIDENT/CEO (THRU JUNE) 274812 0 14196 0 32988 0 9183 0 22013 0 353192 0 0 0 STEPHEN WALLACE PRESIDENT/CEO 255858 0 6975 0 10769 0 8811 0 16114 0 298527 0 0 0 ERIN CAMPBELL SVP/CHIEF FINANCIAL OFFICE 175787 0 6374 0 12264 0 6659 0 28609 0 229693 0 0 0 ADAM KAVANAGH SVP/CHIEF OPERATIONS OFFIC 167564 0 4832 0 14386 0 6653 0 13025 0 206460 0 0 0 ANGELA HARVEY VP OF HUMAN RESOURCE 66869 0 4651 0 100510 0 3133 0 10026 0 185189 0 0 0 BRIE MELLOR SVP/CHIEF LENDING OFFICER 128452 0 3346 0 8077 0 5073 0 27837 0 172785 0 0 0 BRUCE HARRINGTON VP OF COMMERICAL LENDING 123532 0 4173 0 4038 0 2758 0 32846 0 167347 0 0 0 SHANE ABBOTT SVP/CHIEF RETAIL OFFICER 129195 0 2750 0 0 0 4801 0 18500 0 155246 0 0 0 PART I, LINE 4A ANGELA HARVEY RECEIVED SEVERANCE PAYMENT OF $85,360. 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 VP OF FINANCE/INTERIM CFO 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 -15,191,934.