2021-08-16T18:28:05-05:00 2020-09-30 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2020-01-01 020240752 SERVICE CREDIT UNION SERV 6034228300 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 DAVID ARAUJO PRESIDENT/CEO 6034228379 2021-08-03 1 DAVID ARAUJO 999009999 MARY C GREEN P00447183 6022662248 2021-08-03 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z X DAVID ARAUJO 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 158146420 0 X WWW.SERVICECU.ORG X 1957 NH CREDIT UNION OPERATED WITHOUT PROFIT FOR MUTUAL PURPOSES. X 7 7 0 11 4830943 2463754 0 0 199083287 152515405 13114684 5468365 8640 91540 212206611 158075310 1013862 473552351 37050466 27454331 62191686 50646317 0 0 0 74093221 57819277 174349235 609472276 37857376 -451396966 3821189390 0 3373231836 0 447957554 0 X DOING WHAT IS RIGHT FOR OUR MEMBERS BY IMPROVING FINANCIAL WELL-BEING, SUPPORTING COMMUNITIES WE SERVE AND CREATING VALUE AND ENDURING RELATIONSHIPS. 0 1 THE CREDIT UNION PROVIDES VARIOUS TYPES OF LOANS, CDS, SHARE ACCOUNTS, AND IRA CDS TO MEMBERS. INTEREST ON MEMBERS' SHARE AND SAVINGS ACCOUNTS FOR THE 9 MONTH PERIOD ENDING SEPTEMBER 30, 2020 WAS $27,454,331.AS OF SEPTEMBER 30, 2020, THE CREDIT UNION CONVERTED TO A FEDERAL CREDIT UNION AND CEASED EXISTENCE AS A STATE CHARTERED TAX-EXEMPT CREDIT UNION. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 1 1 1 GM 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 0 1 1 1 1 0 X DAVID ARAUJO PRESIDENT 6034228386 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 JOANNE WHITING DIRECTOR 2.00 X 4134 0 0 SCOTT WENSLEY VICE CHAIR / TREASURER 2.00 X X 7763 0 0 DR JAMES FISHBEIN CHAIR 2.00 X X 3931 0 0 DAN EAGAN DIRECTOR 2.00 X 8547 0 0 CLIFFORD TAYLOR DIRECTOR 2.00 X 4134 0 0 SUE DESJARDINS SECRETARY 2.00 X X 0 0 0 MICHAEL MCMAHON DIRECTOR 2.00 X 0 0 0 DAVID ARAUJO PRESIDENT/CEO 40.00 X 646413 0 43989 FAWN TERWILLIGER SVP, CHIEF LENDING OFFICER 40.00 X 172609 0 35711 DAN CLARKE SVP, MEMBER EXPERIENCE 40.00 X 250647 0 36318 SATISH MEHTA SVP, CHIEF ADMINISTRATIVE OFFICER 40.00 X 175635 0 15867 GEOFFRY GILTON SVP, TECHNOLOGY 40.00 X 175479 0 15830 MICHAEL DVORAK SVP, ACCOUNTING & FINANCE 40.00 X 38860 0 1801 PHILIP VON STREICHER VP OVERSEAS 40.00 X 235188 0 36288 MICHAEL BERGERON VP LOGISTICS 40.00 X 185569 0 46528 MICHAEL PORTER VP OPERATIONS 40.00 X 194332 0 51167 WENDY BESWICK VP MARKETING 40.00 X 190923 0 35949 MAY HATEM VP, HR/TRAINING 40.00 X 162420 0 20006 2456584 0 339454 31 0 1 0 NCR CORPORATION 14181 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 ATM SYSTEMS PROVIDER 4246059 FISERV SOLUTIONS PO BOX 934054 ATLANTA GA 31193 IT SYSTEMS 2891396 BLAZE PARTNERS LLC 106 LAFAYETTE ST SUITE 1B YARMOUTH ME 04096 MARKETING CONSULTANT 2071070 AVTEX SOLUTIONS 3500 AMERICAN BLVD WEST SUITE 300 BLOOMINGTON MN 55431 PHONE SYSTEM SUPPORT 461664 WITTIJI CONSULTING 400 PUTHAM PIKE SUITE J211 SMITHFIELD RI 02917 IT CONSULTING 130605 16 INCOME FROM LOANS 522100 99582229 95627046 3955183 FEES AND CHARGES 522100 26632316 26626491 5825 INTERCHANGE INCOME 522100 18182455 18182455 INSURANCE COMMISSIONS 522100 7254950 7254950 NON-MEMBER ATM INCOME 522100 863455 863455 152515405 4484896 4484896 91540 0 91540 91540 6480 85060 1051749 2830 0 71110 1051749 -68280 983469 983469 158075310 147690942 4830943 5553425 473552351 27454331 1597007 35215983 4237567 6709078 2886682 94625 160667 4509036 3006254 5200019 7241805 3686825 320573 6645 3169598 4578400 367421 BANK & CREDIT CARD FEES 20609885 MISCELLANEOUS EXPENSES 2959217 ATM EXPENSES 1464196 UBIT TAX 444111 609472276 27736864 0 290443231 0 0 47081477 0 0 0 3161472570 0 0 5075886 0 0 81286254 0 0 162344906 0 0 154660 0 45593542 0 3821189390 0 43151861 195371483 3134708492 0 3373231836 0 X 0 0 0 0 447957554 0 447957554 0 3821189390 0 X -451396966 3215313 11642 212457 X 0 1 X 1 0 0 X PART X, LINE 2: THE CREDIT UNION IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(14) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. HOWEVER, STATE-CHARTERED CREDIT UNIONS ARE SUBJECT TO FEDERAL AND STATE TAXES ON UNRELATED BUSINESS INCOME. 1 SERVICE FEDERAL CREDIT UNION 3003 LAFAYETTE RD PORTSMOUTH NH 03801 020240752 N/A 472483293 TRANSFER OF NET ASSETS WILDCAT SPORTS PROPERTIES UNIVERSITY SYSTEM OF NH UNH CAMPUS RECREATION 128 MAIN ST DURHAM NH 03824 026000937 501(C)(3) 167940 CAMPUS RECREATION SPONSORSHIP SERVICE CREDIT UNION IMPACT FOUNDATION 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 843223773 501(C)(3) 166667 UNRESTRICTED UNH FONDATION STADIUM ELLIOT ALUMNI CENTER 9 EDGEWOOD ROAD DURHAM NH 03824 020437506 501(C)(6) 100000 UNH STADIUM PROJECT PLEDGE NH FOOD BANK 62 WEST BROOK STREET MANCHESTER NH 03101 020222163 501(C)(3) 100000 UNRESTRICTED SEACOAST REPERTORY THEATER 125 BOW STREET PORTSMOUTH NH 03801 020419993 501(C)(3) 25000 PORTSMOUTH POP UP CITY OF SOMERSWORTH 1 GOVERNEMENT WAY SOMERSWORTH NH 03878 026000841 CITY OF SOMERSWORTH 20000 VETERAN MEMORIAL PARK WRIGHT MUSEUM OF WOLRD WAR II 77 CENTER STREET WOLFEBORO NH 03894 274362364 501(C)(3) 20000 UNRESTRICTED ROCHESTER SCHOOL DEPARTMENT 150 WAKEFIELD STREET STE 8 ROCHESTER NH 03887 026000744 CITY OF ROCHESTER 12288 EDUCATIONAL RESOURCES WORLDWIDE FOUNDATION OF CREDIT UNIONS 5710 MINERAL POINT ROAD MADISON WI 53705 396093210 501(C)(6) 10000 UNRESTRICTED DARMOUTH HITCOCK HEALTH 1 MEDICAL CENTER DRIVE LEBANON NH 03756 264812335 501(C)(3) 10000 CAPP & FAMILY SUPPORT SERVICES CATHOLIC MEDICAL CENTER 100 MCGREGOR STREET MANCHESTER NH 03102 020315693 501(C)(3) 10000 FRONT LINE WORKERS AMERICAN RED CROSS 2 MAITLAND STREET CONCORD NH 03301 530196605 501(C)(6) 10000 UNRESTRICTED MAKE A WISH 814 ELM STREET STE 300 MANCHESTER NH 03101 020405369 501(C)(3) 10000 UNRESTRICTED GATHER 210 WEST ROAD UNIT 3 PORTSMOUTH NH 03801 020226943 501(C)(3) 7500 UNRESTRICTED 11 4 PART I, LINE 2: THE CREDIT UNION REVIEWS THE ORGANIZATION'S PUBLISHED FINANCIAL STATEMENTS. X X X 1 1 X X X X X 0 1 0 DAVID ARAUJO PRESIDENT/CEO 508192 0 138221 0 0 0 28277 0 15712 0 690402 0 0 0 DAN CLARKE SVP, MEMBER EXPERIENCE 200141 0 50506 0 0 0 20577 0 15741 0 286965 0 0 0 PHILIP VON STREICHER VP OVERSEAS 188413 0 46775 0 0 0 24586 0 11702 0 271476 0 0 0 MICHAEL PORTER VP OPERATIONS 156972 0 37360 0 0 0 35307 0 15860 0 245499 0 0 0 MICHAEL BERGERON VP LOGISTICS 146497 0 39072 0 0 0 34826 0 11702 0 232097 0 0 0 WENDY BESWICK VP MARKETING 153573 0 37350 0 0 0 30057 0 5892 0 226872 0 0 0 FAWN TERWILLIGER SVP, CHIEF LENDING OFFICER 72609 0 65000 0 35000 0 32886 0 2825 0 208320 0 35000 0 SATISH MEHTA SVP, CHIEF ADMINISTRATIVE OFFICER 16612 0 82075 0 76948 0 14128 0 1739 0 191502 0 76948 0 GEOFFRY GILTON SVP, TECHNOLOGY 166171 0 9308 0 0 0 0 0 15830 0 191309 0 0 0 MAY HATEM VP, HR/TRAINING 134679 0 27741 0 0 0 13299 0 6707 0 182426 0 0 0 PART I, LINE 1A FIRST-CLASS TRAVEL, TRAVEL FOR COMPANIONS, AND TAX INDEMNIFICATION PAYMENTS ARE PROVIDED TO BOARD MEMBERS, WHO RECEIVE A 1099 FOR THE AMOUNT OF BENEFITS RECEIVED. PART I, LINE 4B DURING 2020, THE CREDIT UNION ESTABLISHED A SPLIT DOLLAR LIFE INSURANCE POLICY FOR THE PRESIDENT/CEO. TRANSFER OF NET ASSETS DUE TO CONVERSION TO A FEDERAL CREDIT UNION 2020-09-30 472483293 BOOK VALUE 020240752 SERVICE FEDERAL CREDIT UNION 3003 LAFAYETTE RD PORTSMOUTH NH 03801 N/A 1 1 0 0 1 1 1 1 0 PART I, LINE 2E: PERSON(S) INVOLVED: ALL EMPLOYEES AND BOARD MEMBERS NOTED ON PART VII OF THE FORM 990 PART I, LINE 2E: EXPLANATION OF INVOLVEMENT: ALL EMPLOYEES AND BOARD MEMBERS TRANSFERRED TO SERVICE FEDERAL CREDIT UNION UNDER THE SAME ROLE AND TITLE. FORM 990, PART III, LINE 3 AS OF SEPTEMBER 30, 2020, THE CREDIT UNION CONVERTED TO A FEDERAL CREDIT UNION AND CEASED EXISTENCE AS A STATE CHARTERED TAX-EXEMPT CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 1 THE BOARD MAY APPOINT AN EXECUTIVE COMMITTEE OF NOT FEWER THAN THREE DIRECTORS TO SERVE AT ITS PLEASURE, TO ACT FOR IT WITH RESPECT TO SPECIFICALLY DELEGATED FUNCTIONS AUTHORIZED BY RSA 383-A AND 383-E AND APPLICABLE LAW AND REGULATIONS. THE BOARD MAY ALSO AUTHORIZE SUCH EXECUTIVE COMMITTEE OR A MEMBERSHIP OFFICER APPOINTED BY THE BOARD FROM THE MEMBERSHIP OTHER THAN A BOARD MEMBER PAID AS AN OFFICER, THE FINANCIAL OFFICER, ANY ASSISTANT TO THE PAID OFFICER OF THE BOARD OR TO THE FINANCIAL OFFICER OR ANY LOAN OFFICER, TO SERVE AT ITS PLEASURE TO APPROVE APPLICATIONS FOR MEMBERSHIP UNDER SUCH CONDITIONS AS THE BOARD AND THESE BYLAWS MAY PRESCRIBE. NO EXECUTIVE COMMITTEE MEMBER OR MEMBERSHIP OFFICER MAY BE COMPENSATED AS SUCH. FORM 990, PART VI, SECTION A, LINE 6 SERVICE CREDIT UNION MEMBERSHIP IS OPEN TO THOSE LIVING OR WORKING IN THE STATE OF NEW HAMPSHIRE OR THE FALMOUTH, MA AREA (DEFINED AS FALMOUTH, BOURNE, MASHPEE AND SANDWICH, MA) AND THEIR FAMILIES. ALSO ELIGIBLE ARE ACTIVE DUTY MILITARY, VETERANS AND THEIR FAMILIES, AND THOSE WHO ARE WORKING (OR WORKED) FOR THE DEPARTMENT OF DEFENSE, AS WELL AS THEIR FAMILIES. FORM 990, PART VI, SECTION A, LINE 7A ANNUALLY, SERVICE CREDIT UNION HOLDS A SHAREHOLDER MEETING. AT THIS MEETING, THE MEMBERS HAVE THE ABILITY TO VOTE ON THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE DRAFT IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT AND ANY CHANGES INCORPORATED INTO THE FILING. ONCE THIS DETAILED REVIEW IS COMPLETE, THE DRAFT OF THE FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12 THE POLICY REQUIRES SELF DISCLOSURE TO THE BOARD OF DIRECTORS ANNUALLY ANY INVOLVEMENT WITH ORGANIZATIONS WHICH DO BUSINESS WITH THE CREDIT UNION. THIS IS ALSO SUBJECT TO INTERNAL AUDIT. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS REVIEWED BY A COMPENSATION COMMITTEE THAT INCLUDES THREE BOARD MEMBERS. THE COMMITTEE GATHERS DATA FROM A 3RD PARTY COMPENSATION STUDY, WHICH GATHERS DATA FROM OUTSIDES SOURCES FROM OTHER FINANCIAL INSTITUTIONS. THE COMMITTEE REVIEWS THIS INFORMATION AND THEN DETERMINES COMPENSATION BASED ON THIS INFORMATION AND PERFORMANCE AND THEN GIVES THE COMPENSATION RECOMMENDATION TO THE FULL BOARD FOR APPROVAL. THIS IS DOCUMENTED IN THE COMMITTEE MINUTES. FOR ALL OTHER OFFICERS AND KEY EMPLOYEES, THE CREDIT UNION USES A THIRD PARTY COMPENSATION STUDY IN WHICH THE HUMAN RESOURCES DEPARTMENT USES TO HELP DETERMINE COMPENSATION. COMPENSATION IS ALSO BASED ON METRICS FOR THAT JOB DESCRIPTION AND PERFORMANCE. HUMAN RESOURCES GIVES A RECOMMENDATION TO THE CEO WHO MAKES THE COMPENSATION DETERMINATION. THIS DETERMINATION IS DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILES. FORM 990, PART VI, SECTION C, LINE 19 SERVICE CREDIT UNION'S FINANCIALS ARE PROVIDED MONTHLY FOR ALL MEMBERS BY BEING POSTED IN EACH BRANCH LOCATION. OUR ANNUAL REPORT IS DISTRIBUTED TO ALL ATTENDEES AT THE ANNUAL MEETING, PROVIDED IN EACH BRANCH LOCATION, AND IS ALSO POSTED ON OUR WEBSITE. MEMBERS HAVE THE RIGHT TO REQUEST AND RECEIVE PERTINENT DOCUMENTATION AS DEMANDED. SERVICE CREDIT UNION IS A MEMBER-OWNED COOPERATIVE AND AS SUCH PERTINENT BUSINESS DOCUMENTATION IS ALWAYS PROVIDED AS REQUESTED BY MEMBERS. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SERP 22,745. EURO CURRENCY CHANGE 659,156. CHANGE IN PENSION AND POSTRETIREMENT HEALTH PLAN 223,838. OTHER COMPREHENSIVE GAIN -7,116. CHANGE IN VALUE OF CUSO INVESTMENT -569,128. CHANGE IN VALUE OF SPLIT DOLLAR LIFE INSURANCE ASSETS -117,038. SERVICE FINANCIAL ADVISORS LLC 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 472509975 FINANCIAL SERVICES NH SERVICE CREDIT UNION C -607700 166592 1.00000 1 SERVICE INSURE LLC 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 472517034 INSURANCE NH SERVICE FINANCIAL ADVISORS LLC C 17382 188165 1.00000 1 SERVICE CAPITAL LLC 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 472551723 LENDING NH SERVICE FINANCIAL ADVISORS LLC C 3947298 112001485 1.00000 1 SERVICE EXCHANGE LLC 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 472529134 INTERNATIONAL BILL PAY NH SERVICE FINANCIAL ADVISORS LLC C 1740 1.00000 1 1 0 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 SERVICE FINANCIAL ADVISORS A 6480 RENTAL INCOME SERVICE CAPITAL LLC A 3955183 INTEREST INCOME SERVICE CAPITAL LLC D 109401913 LOAN PAYABLE