2023-11-13T11:58:19-06:00 2022-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2022-01-01 020187390 ST MARY'S BANK CREDIT UNION STMA 6036694600 PO BOX 990 MANCHESTER NH 03105 KEVIN NIHILL CFO & TREASURER 6036694600 2023-11-10 1 KEVIN NIHILL 999009999 0 JULIA HOWLAND CPA P01711658 2077745701 2023-11-03 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KENNETH SENUS PO BOX 990 MANCHESTER NH 03105 88037796 0 X WWW.STMARYSBANK.COM X 1908 NH PROVIDE MEMBERS WITH DEPOSITS, LOANS, AND OTHER RELATED FINANCIAL SERVICES. 9 9 352 11 1035144 0 0 0 51793360 57250549 7423768 4275766 0 307095 59217128 61833410 1686962 1186252 3545377 3679591 23582217 27189558 0 0 0 19680536 17659899 48495092 49715300 10722036 12118110 1405116910 1463740396 1297267666 1350944492 107849244 112795904 X ST. MARY'S BANK'S MISSION IS TO HELP MEMBERS ACHIEVE THEIR FINANCIAL GOALS BY PROVIDING BEST-IN-MARKET SERVICE AND TRUSTED FINANCIAL ADVICE. 0 0 THE CREDIT UNION HAS 95,813 MEMBERS AS OF DECEMBER 31, 2022, MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW-COST, HIGH-QUALITY SERVICES. ST. MARY'S BANK GIVES BACK TO THE COMMUNITY BY SUPPORTING, PROMOTING AND FURTHERING CHARITABLE, AND EDUCATIONAL PURPOSES, ACTIVITIES AND CAUSES IN NEW HAMPSHIRE, PRIMARILY IN THE CREDIT UNION'S PRIMARY SERVICE AREA. IN 2022, THE CREDIT UNION PROVIDED SUPPORTED NUMEROUS COMMUNITY ORGANIZATIONS AND ALSO CONTRIBUTED $990,000 TO THE ST. MARY'S BANK CHARITABLE FOUNDATION.ST. MARY'S BANK'S CHARITABLE GIVING THEME, CHILDREN, FAMILIES, AND INDIVIDUALS IN NEED, IS OUR WAY OF FOCUSING AVAILABLE RESOURCES ON ACTIVITIES MOST RELEVANT TO OUR MISSION OF SERVICE TO CREDIT UNION MEMBERS AND THE COMMUNITY. IN 2022, OVER 130 ORGANIZATIONS WERE SUPPORTED THROUGH DONATIONS AND EVENT SPONSORSHIPS, TOTALING $196,220. CAUSES INCLUDE, BUT ARE NOT LIMITED TO, CHILDREN AND FAMILY, CULTURAL, FINANCIAL LITERACY, FINANCIAL INDEPENDENCE, AND HEALTH AND WELLNESS.ST. MARY'S BANK EMPLOYEES VOLUNTEERED 3,153 HOURS OF TIME, DURING WORKTIME AND ON THEIR OWN TIME IN 2022 TO A RANGE OF NON-PROFIT ORGANIZATIONS. ST. MARY'S BANK PARTICIPATES WITH A NUMBER OF LENDER ORGANIZATIONS OFFERING HOMEOWNERSHIP PROGRAMS THAT ASSISTS THE UNDER-SERVED INCLUDING; NEW HAMPSHIRE HOUSING- FLEX AND PREFERRED PROGRAMS ALONG WITH FHA, USDA-RD, INCLUDING CASH ASSISTANCE PROGRAMS, AND FNMA, HOME READY. ST. MARY'S BANK ALSO OFFERS PORTFOLIO FINANCING OPTIONS AND CONTINUES ITS "WELCOME HOME FIRST-TIME HOMEBUYER PROGRAM AND LOW TO NO DOWN PAYMENT OPTIONS.ST. MARY'S WELCOME HOME PROGRAM IS DESIGNED TO HELP BORROWERS BETTER UNDERSTAND THEIR OVERALL CREDIT, DETERMINE HOW MUCH HOUSE THEY CAN AFFORD, CHOOSE THE RIGHT MORTGAGE AND AVOID POTENTIAL PITFALLS. AS IMPORTANT, THE PROGRAM OFFERS REAL MONETARY BENEFITS INCLUDING:-REDUCED INTERIM RATE CAP -ACCESS TO A FULL-RANGE OF ONLINE RESEARCH TOOLS-ACCESS TO FREE HOMEBUYER EDUCATIONIN ADDITION TO IDENTIFYING LENDING OPPORTUNITIES FOR FIRST-TIME HOMEBUYERS, WE WILL ALSO CONTINUE TO FOCUS ON LENDING TO INCOME-ELIGIBLE FAMILIES. MORE SPECIFICALLY, LENDING TO FAMILIES WHOSE HOUSEHOLD INCOME IS AT OR BELOW 115% OF THE AREA MEDIAN FAMILY INCOME (DEFINED AND PUBLISHED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT). 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 1 0 0 0 0 0 1 1 1 0 1 24246 0 1 352 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NH X KEVIN NIHILL 6036694600 200 MCGREGOR ST MANCHESTER NH 03101 STEPHEN J GRZYWACZ CHAIRMAN 3.00 X X 4300 0 0 ELIZABETH HITCHCOCK VICE CHAIRMAN 3.00 X X 5450 0 0 GINA M BALKUS DIRECTOR 3.00 X 3000 0 0 DAVID H BELLMAN DIRECTOR 3.00 X 5900 0 0 GUY D CHAPDELAINE DIRECTOR 3.00 X 3500 0 0 CRAIG S DONAIS DIRECTOR 3.00 X 5300 0 0 WILLIAM E STEVENS DIRECTOR 3.00 X 500 0 0 DANIEL J HEALY DIRECTOR 3.00 X 3450 0 0 DIANE P FITZPATRICK DIRECTOR 3.00 X 5650 0 0 RONALD COVEY JR CEO (THRU DEC. 2022) 50.00 X 676913 0 31861 KEVIN NIHILL CFO & TREASURER 50.00 X 318984 0 7246 JANET RAYMOND SALES MANAGER 50.00 X 331631 0 29565 KENNETH SENUS CHIEF OPERATING OFFICER 50.00 X 412785 0 41372 PAMELA ROY DIRECTOR OF HUMAN RESOURCES 50.00 X 191217 0 41006 JUDY LECLERC SR. RESIDENTIAL LOAN OFFICER 50.00 X 237834 0 27058 RICHARD HANEY SR. RESIDENTIAL LOAN OFFICER 50.00 X 222045 0 41088 KYLE SCHNECK DIRECTOR OF COMMERCIAL BANKING 50.00 X 290165 0 42592 RICH SCIAUDONE SALES MANAGER 50.00 X 247999 0 25895 JOHN CLEARY DIRECTOR OF IT 50.00 X 252884 0 25172 3219507 0 312855 55 0 1 0 CU COOPERATIVE SYSTEMS INC 9692 HAVEN AVE RANCHO CUCAMONGA CA 029200000 ATM NETWORK 1279785 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 657080000 VARIOUS CORE PLATFORM SERVIVES 1145826 ALKAMI ACH ALERT INC DEPT 2223 PO BOX 122223 PLANO TX 75024 ONLINE BANKING PLATFORM AND ACH ALERT SE 610880 SYNERGENT PO BOX 1236 PORTLAND ME 04104 STATEMENT SERVICES AND POSTAGE 511602 VISA USA INC PO BOX 742233 LOS ANGELES CA 900742233 CREDIT CARD PROCESSING 409534 30 LOAN INCOME FROM MEMBERS 522100 43601256 43601256 SERVICE CHARGES 522100 10328272 9457531 870741 OTHER OPERATING INCOME 522100 3321021 3321021 57250549 3586238 164403 3421835 26893914 26168001 36385 725913 -36385 689528 689528 RECOVERY OF LOAN LOSSES 900099 307095 307095 307095 61833410 56379808 1035144 4418458 1186252 3679591 2119630 18750339 2287416 2608790 1423383 26497 535663 658084 936974 1185977 131071 1696936 225953 79335 3037991 140184 OTHER EQUIPMENT 4350084 DEBIT CARD EXPENSES 1513952 CREDIT CARD EXPENSE 768093 CREDIT BUREAU/UNDERWRIT 563944 1809161 49715300 6795488 6609725 208980618 92709119 2579821 3659558 2421781 2421781 1084608196 1243499778 1319166 1824423 44917559 22181065 24045426 22736494 6226372 25046602 6259890 5595397 61880152 59637519 1405116910 1463740396 114782 323963 699074 658932 250000 250000 1296203810 1349711597 1297267666 1350944492 X 0 0 0 0 107849244 112795904 107849244 112795904 1405116910 1463740396 X 12118110 -397966 -1048000 -5725484 X 0 1 X 1 0 0 1 X 1000101 1000101 28007762 9587133 18420629 15773278 12593932 3179346 136418 136418 22736494 MEMBERS' SHARES 1325822715 OTHER LIABILITIES 23888882 1349711597 X 60300556 -397966 -397966 60698522 1134888 1134888 61833410 48580412 0 48580412 1134888 1134888 49715300 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW FOR ITS MORTGAGE LOANS TO PAY TAXES AND INSURANCE ON BEHALF OF THE MEMBER. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES. HOWEVER, THE CREDIT UNION MAY BE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). THERE WAS NO SIGNIFICANT UBIT EXPENSE FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021; HOWEVER, THE CREDIT UNION MAY BE SUBJECT TO UBIT AS FURTHER DISCUSSED IN NOTE 11. FASB HAS GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. THE CREDIT UNION FILES FORM 990 AND FORM 990-T IN THE U.S. FEDERAL JURISDICTION. WITH FEW EXCEPTIONS, THE CREDIT UNION IS NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) FOR YEARS BEFORE 2019. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECOVERY OF LOAN LOSSES 307,095. OMSR EXPENSES 739,433. ORIGINATION FEES 88,360. PART XII, LINE 4B - OTHER ADJUSTMENTS: ORIGINATION FEES 88,360. OMSR EXPENSES 739,433. RECOVERY OF LOAN LOSSES 307,095. 1 ST MARY'S BANK CHARITABLE FOUNDATION 200 MCGREGOR STREET MANCHESTER NH 13012 843254128 501(C)(3) 990000 0 CHARITABLE SUPPORT PALACE THEATRE 80 HANOVER ST MANCHESTER NH 31010 237356019 501(C)(3) 32000 0 CHARITABLE SUPPORT GRANITE UNITED WAY 22 CONCORD ST FL 2 MANCHESTER NH 31010 026006033 501(C)(3) 18000 0 CHARITABLE SUPPORT SERVICE CREDIT UNION IMPACT FOUNDATION 3003 LAFAYETTE RD PORTSMOUTH NH 38010 843223773 501(C)(3) 7500 0 CHARITABLE SUPPORT 4 0 PART I, LINE 2: THE ORGANIZATION ENSURES THAT THE RECIPIENT ORGANIZATION IS A QUALIFIED SECTION 501(C)(3) PUBLIC CHARITY AND NO GRANT MONITORING IS DEEMED NECESSARY. X X X X 0 1 0 RONALD COVEY JR CEO (THRU DEC. 2022) 452487 0 193377 0 31049 0 9856 0 22005 0 708774 0 0 0 KENNETH SENUS CHIEF OPERATING OFFICER 303635 0 101103 0 8047 0 5367 0 36005 0 454157 0 0 0 JANET RAYMOND SALES MANAGER 247167 0 69893 0 14571 0 6270 0 23295 0 361196 0 0 0 KYLE SCHNECK DIRECTOR OF COMMERCIAL BANKING 191118 0 98660 0 387 0 7847 0 34745 0 332757 0 0 0 KEVIN NIHILL CFO & TREASURER 250479 0 67920 0 585 0 7246 0 0 0 326230 0 0 0 JOHN CLEARY DIRECTOR OF IT 209088 0 43796 0 0 0 4227 0 20945 0 278056 0 0 0 RICH SCIAUDONE SALES MANAGER 120000 0 127019 0 980 0 2728 0 23167 0 273894 0 0 0 JUDY LECLERC SR. RESIDENTIAL LOAN OFFICER 80864 0 154597 0 2373 0 6613 0 20445 0 264892 0 0 0 RICHARD HANEY SR. RESIDENTIAL LOAN OFFICER 47397 0 174499 0 149 0 6581 0 34507 0 263133 0 0 0 PAMELA ROY DIRECTOR OF HUMAN RESOURCES 157672 0 32763 0 782 0 5064 0 35942 0 232223 0 0 0 PART I, LINE 4B KENNETH SENUS PARTICIPATED IN A 457 (F) PLAN AND RECEIVED $0 DURING 2022. KENNETH SENUS COO SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 2421781 2421781 0 1 1 2421781 HARVEY CONSTRUCTION CORP 35% CONTROLLED ENTITY OF DIRECTOR, WILLIAM STEVENS 1388957 NEW CONSTRUCTION/RENOVATION SERVICES 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. DIVIDENDS ON MEMBERS' SHARES ARE BASED ON AVAILABLE EARNINGS AT THE END OF A DIVIDEND PERIOD AND ARE NOT GUARANTEED BY THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION B, LINE 11B THE CFO/TREASURER WILL REVIEW FORM 990 FOR ACCURACY AND REASONABLENESS. THE SUPERVISORY COMMITTEE WILL REVIEW AND APPROVE THE FORM 990 AND THEN PROVIDE A COPY TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C NEW EMPLOYEES ARE REQUIRED TO ACKNOWLEDGE THAT THEY HAVE READ AND UNDERSTAND THIS POLICY. ANNUALLY, OR AS UPDATES TO THE POLICY OCCUR, ALL SMB EMPLOYEES ARE REQUIRED TO ACKNOWLEDGE THAT THEY HAVE READ AND UNDERSTAND THE POLICY AS APPLICABLE. FORM 990, PART VI, SECTION B, LINE 15 SMB USES A THIRD-PARTY VENDOR APPROVED BY THE BOARD OF DIRECTORS TO SET MARKET-BASED SALARY RANGES FOR EACH POSITION IN THE CREDIT UNION. THE VENDOR ALSO MAKES RECOMMENDATIONS REGARDING ANNUAL MARKET INCREASES EACH YEAR. SMB'S BOARD OF DIRECTORS APPROVES SALARY RANGES FOR EACH YEAR. THE BOARD ALSO APPROVES THE BUDGET WHICH CONTAINS MERIT INCREASES FOR EACH YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS FOR ST. MARY'S BANK CREDIT UNION ARE DISTRIBUTED TO ALL MEMBERS WHO ATTEND THE ANNUAL MEETING AND ALSO MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. THE GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. ALL REQUESTS FOR THE CONFLICT OF INTEREST POLICY ARE REFERRED TO THE MARKETING DEPARTMENT TO ASSESS ANY POTENTIAL PUBLIC RELATIONS ISSUES. FORM 990, PART XI, LINE 9: NET DEFINED BENEFIT PENSION COSTS ADJUSTMENT -2,473,693. ACCUMULATED OTHER COMPREHENSIVE INCOME ADJUSTMENT -3,251,791. ST MARY'S BANK CHARITABLE FOUNDATION 200 MCGREGOR STREET MANCHESTER NH 03102 843254128 CHARITABLE GIVING NH 501(C)(3) PF N/A 0 RIVERSIDE FINANCIAL SERVICES INC 200 MCGREGOR STREET MANCHESTER NH 03102 020419388 INACTIVE NH ST MARY'S BANK CREDIT UNION C 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ST MARY'S BANK CHARITABLE FOUNDATION B 990000 CASH