2025-08-12T14:53:40-05:00 2024-12-31 390758449 WIPFLI LLP 105 E PINE ST UPPER FLOOR MISSOULA MT 59802 990 2024-01-01 020187390 ST MARY'S BANK CREDIT UNION STMA 6036694600 PO BOX 990 MANCHESTER NH 03105 HOANG NGUYEN CFO & TREASURER 6036694600 2025-08-07 1 1 SAM BRUNSON CPA P01696998 4067281800 2025-08-07 2024 2025-03-06 01:10:19Z KENNETH SENUS PO BOX 990 MANCHESTER NH 03105 162526240 0 X WWW.STMARYSBANK.COM X 1908 NH PROVIDE MEMBERS WITH DEPOSITS, LOANS, AND OTHER RELATED FINANCIAL SERVICES. 10 10 362 14 1702069 0 0 0 72356903 86552124 6165024 6644050 0 0 78521927 93196174 461247 729193 12285900 21680613 27913424 29736558 0 0 0 21610691 23716439 62271262 75862803 16250665 17333371 1496355192 1616505298 1367606454 1466466055 128748738 150039243 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 95,625 MEMBERS AS OF DECEMBER 31, 2024, 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 2024, THE CREDIT UNION PROVIDED SUPPORTED NUMEROUS COMMUNITY ORGANIZATIONS AND ALSO CONTRIBUTED $500,000 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 2024, OVER 140 ORGANIZATIONS WERE SUPPORTED THROUGH DONATIONS AND EVENT SPONSORSHIPS, TOTALING $210.013. 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 4,710 HOURS OF TIME, DURING WORKTIME AND ON THEIR OWN TIME IN 2024 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.ADDITIONALLY ST. MARY'S WELCOME HOME PROGRAM IS DESIGNED TO ASSIST FIRST TIME HOME BUYERS WITH THE FOLLOWING FEATURES:-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 0 0 0 0 0 0 1 1 0 0 1 28918 0 1 362 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NH X HOANG NGUYEN 6036694600 200 MCGREGOR ST MANCHESTER NH 03101 STEPHEN J GRZYWACZ CHAIRMAN 3.00 X X 3750 0 0 ELIZABETH HITCHCOCK VICE CHAIRMAN 3.00 X X 5550 0 0 STEPHEN A BAINES DIRECTOR 3.00 X 2000 0 0 GINA M BALKUS DIRECTOR 3.00 X 3500 0 0 DAVID H BELLMAN DIRECTOR 3.00 X 5950 0 0 GUY D CHAPDELAINE DIRECTOR 3.00 X 4550 0 0 CRAIG S DONAIS DIRECTOR 3.00 X 5750 0 0 DIANE P FITZPATRICK DIRECTOR 3.00 X 3500 0 0 DONNALEE LOZEAU DIRECTOR 3.00 X 5410 0 0 WILLIAM E STEVENS DIRECTOR 3.00 X 5700 0 0 KENNETH SENUS CHIEF EXECUTIVE OFFICER 50.00 X 701986 0 58707 KEVIN NIHILL CFO & TREASURER (TERMED 7/24) 50.00 X 285592 0 6280 HOANG NGUYEN CFO & TREASURER 50.00 X 12799 0 3797 KYLE A SCHNECK CHIEF LENDING OFFICER 50.00 X 345320 0 57642 PAMELA ROY CHIEF PEOPLE OFFICER 50.00 X 273422 0 16171 LEO SIMARD CHIEF RETAIL BANKING OFFICER 50.00 X 296275 0 18544 TYLER WHITE CHIEF STRATEGY OFFICER 50.00 X 375867 0 56675 RANDY SIVIGNY DIRECTOR OF COMMERCIAL LENDING 50.00 X 221048 0 37192 KRITI MODI DIRECTOR OF DIGITAL ENGAGEMENT & MEMBER EXPERIENC 50.00 X 249216 0 9237 RONALD MACDONALD DIRECTOR OF RESIDENTIAL LENDING 50.00 X 228647 0 35481 SHIRLEY BHUTTO DIRECTOR OF ENTERPRISE RISK MANAGMENT & COMMERCIAL 50.00 X 221013 0 35627 KAREN MAYRAND DIRECTOR OF RESIDENTIAL LENDING 50.00 X 228696 0 21368 STEVEN MACEK DIRECTOR OF CONSUMER LENDING 50.00 X 226854 0 38779 3712395 0 395500 68 0 1 0 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 657080000 VARIOUS CORE PLATFORM SERVIVES 1773668 PSCU INCORPORATED 560 CARILLON PARKWAY ST PETERSBURG FL 33716 ATM/ITM SERVICES COOP 1108435 ALKAMI ACH ALERT INC DEPT 2223 PO BOX 122223 DALLAS TX 75024 ONLINE BANKING PLATFORM AND ACH ALERT SE 890379 NORTH BRANCH CONSTRUCTION 76 OLD TURNPIKE RD CONCORD NH 03301 BUILD BRANCH CONCORD 879521 SYNERGENT PO BOX 1236 PORTLAND ME 04104 STATEMENT SERVICES AND POSTAGE 581011 35 LOAN INCOME FROM MEMBERS 522100 71180442 71180442 SERVICE CHARGES 522100 11683099 9981030 1702069 OTHER OPERATING INCOME 522100 3688583 3688583 86552124 5345867 5345867 69664699 963550 68324806 1005260 1339893 -41710 1298183 1298183 93196174 84850055 1702069 6644050 729193 21680613 2812979 21244092 753672 3336959 1588856 125339 651648 669634 719546 1181208 114761 1974809 280601 105940 3312580 215950 OTHER EQUIPMENT 5590364 PROVISION FOR LOAN LOSS 3182491 DEBIT CARD EXPENSE 1634805 CREDIT BUREAU/UNDERWRIT 819357 3137406 75862803 5976075 8424198 86989753 117761394 4550156 5213882 2421781 2550655 1282881047 1365008516 1916816 1775661 50547403 26058542 22920554 24488861 22567617 19760665 6083487 6420181 60047906 65101285 1496355192 1616505298 659589 988917 437125 -23974 250000 250000 1366259740 1465251112 1367606454 1466466055 X 0 0 0 0 128748738 150039243 128748738 150039243 1496355192 1616505298 X 17333371 239889 3717245 X X 0 1 X 1 0 0 1 X 2315101 2315101 29352255 12024254 17328001 17697731 14034288 3663443 1182316 1182316 24488861 MEMBERS' SHARES 1449187650 OTHER LIABILITIES 16063462 1465251112 X 92372548 239889 239889 92132659 1063515 1063515 93196174 74799288 0 74799288 1063515 1063515 75862803 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 GENERALLY 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, 2024 AND 2023. THE CREDIT UNION MAY RECOGNIZE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS FROM UNCERTAIN TAX POSITIONS. UNRECOGNIZED TAX BENEFITS REPRESENT THE DIFFERENCES BETWEEN A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND THE BENEFIT RECOGNIZED AND MEASURED IN THE FINANCIAL STATEMENTS. INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS INCOME TAX EXPENSE. PART XI, LINE 4B - OTHER ADJUSTMENTS: OMSR EXPENSES 772,967. ORIGINATION FEES 290,548. PART XII, LINE 4B - OTHER ADJUSTMENTS: ORIGINATION FEES 290,548. OMSR EXPENSES 772,967. 1 ST MARY'S BANK CHARITABLE FOUNDATION 200 MCGREGOR ST MANCHESTER NH 03102 843254128 501(C)(3) 500000 0 CHARITABLE SUPPORT PALACE THEATRE 80 HANOVER ST MANCHESTER NH 03101 237356019 501(C)(3) 32600 0 CHARITABLE SUPPORT GRANITE UNITED WAY 22 CONCORD ST MANCHESTER NH 03101 026006033 501(C)(3) 24000 0 CHARITABLE SUPPORT SERVICE CREDIT UNION IMPACT FOUNDATION 3003 LAFAYETTE RD PORTSMOUTH NH 03801 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 X 0 1 0 KENNETH SENUS CHIEF EXECUTIVE OFFICER 510181 0 178063 0 13742 0 10380 0 48327 0 760693 0 0 0 TYLER WHITE CHIEF STRATEGY OFFICER 294416 0 81046 0 405 0 9878 0 46797 0 432542 0 0 0 KYLE A SCHNECK CHIEF LENDING OFFICER 259565 0 77432 0 8323 0 10643 0 46999 0 402962 0 0 0 LEO SIMARD CHIEF RETAIL BANKING OFFICER 236923 0 57611 0 1741 0 9156 0 9388 0 314819 0 0 0 KEVIN NIHILL CFO & TREASURER (TERMED 7/24) 190937 0 94314 0 341 0 5794 0 486 0 291872 0 0 0 PAMELA ROY CHIEF PEOPLE OFFICER 215526 0 56155 0 1741 0 6781 0 9390 0 289593 0 0 0 STEVEN MACEK DIRECTOR OF CONSUMER LENDING 183542 0 38572 0 4740 0 7059 0 31720 0 265633 0 0 0 RONALD MACDONALD DIRECTOR OF RESIDENTIAL LENDING 214223 0 11751 0 2673 0 5756 0 29725 0 264128 0 0 0 KRITI MODI DIRECTOR OF DIGITAL ENGAGEMENT & MEM 207447 0 41162 0 607 0 7491 0 1746 0 258453 0 0 0 RANDY SIVIGNY DIRECTOR OF COMMERCIAL LENDING 183111 0 37351 0 586 0 6852 0 30340 0 258240 0 0 0 SHIRLEY BHUTTO DIRECTOR OF ENTERPRISE RISK MANAGMEN 183179 0 36175 0 1659 0 6790 0 28837 0 256640 0 0 0 KAREN MAYRAND DIRECTOR OF RESIDENTIAL LENDING 180545 0 37102 0 11049 0 6938 0 14430 0 250064 0 0 0 PART I, LINE 4B KENNETH SENUS PARTICIPATED IN A 457(F) PLAN AND RECEIVED $0 DURING 2024. KENNETH SENUS CEO SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 2421781 2550655 0 1 1 2550655 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. AS OF 2024, THE BOARD CREATED A COMPENSATION COMMITTE TO OVERSEE ALL AREAS OF COMPENSTATION AS IT RELATES TO THE POSITION OF THE CEO/PRESIDENT. 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 3,738,133. ACCUMULATED OTHER COMPREHENSIVE INCOME ADJUSTMENT -20,888. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. 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 1344 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 500000 CASH