2020-11-12T16:52:40-06:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2019-01-01 020240752 SERVICE CREDIT UNION SERV 6034228300 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 DAVID ARAUJO PRESIDENT/CEO 6034228379 2020-11-12 1 MARY C GREEN P00447183 6022662248 2020-11-12 67.137.57.251 2020-11-12 16:39:06 MS P 8ECECD2934116A1446D5A984C58DA1E2D1128512 C4B0491CFBE2651EC0C519A1515061C5BE45B9DD 2019 2022-01-07 14:23:13Z DAVID ARAUJO 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 212719326 0 X WWW.SERVICECU.ORG X 1957 NH CREDIT UNION OPERATED WITHOUT PROFIT FOR MUTUAL PURPOSES. 7 7 1028 10 6425007 3123661 0 0 181497923 199083287 8562822 13114684 8640 8640 190069385 212206611 0 1013862 25873233 37050466 56284225 62191686 0 0 0 72183759 74093221 154341217 174349235 35728168 37857376 3502730439 3821189390 3088020339 3373231836 414710100 447957554 DOING WHAT IS RIGHT FOR OUR MEMBERS BY IMPROVING FINANCIAL WELL-BEING, SUPPORTING COMMUNITIES WE SERVE AND CREATING VALUE AND ENDURING RELATIONSHIPS. 0 0 OUR THREE LARGEST PROGRAMS BY EXPENSES ARE CDS, SHARE ACCOUNTS, AND IRA CDS. THERE ARE NO REVENUE SOURCES ASSOCIATED WITH THE EXPENSES. FOR 2019 EXPENSES WERE $25,230,818, $8,647,792, AND $3,171,857 RESPECTIVELY. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 75872 0 1028 1 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 DAVID ARAUJO PRESIDENT/CEO 40.00 X 606831 0 15542 FAWN TERWILLIGER CLO 40.00 X 311591 0 36508 DAN CLARKE COO 40.00 X 271804 0 40949 SATISH MEHTA CIO 40.00 X 279421 0 29294 PHILIP VON STREICHER VP OVERSEAS 40.00 X 257854 0 34533 ANDREW MCGEORGE CFO (LEFT 06/19) 40.00 X 259601 0 30458 MICHAEL BERGERON VP LOGISTICS 40.00 X 206172 0 31178 JOANNE NADEAU VP HUMAN RESOURCES 40.00 X 209040 0 25685 MICHAEL PORTER VP FOREIGN EXCHANGE 40.00 X 195452 0 35420 WENDY BESWICK VP MARKETING 40.00 X 197029 0 25555 PATRICK HARRIGAN CRO 40.00 X 191518 0 17687 GEOFFRY GILTON SVP TECHNOLOGY 40.00 X 45617 0 3397 JOANNE WHITING DIRECTOR 2.00 X X 16714 0 0 SCOTT WENSLEY TREASURER 2.00 X X 15812 0 0 DR JAMES FISHBEIN VICE CHAIR 2.00 X X 14900 0 0 DAN EAGAN DIRECTOR 2.00 X 13904 0 0 CLIFFORD TAYLOR DIRECTOR 2.00 X 10794 0 0 SUE DESJARDINS DIRECTOR 2.00 X 197 0 0 DAVID HANCHETT LEFT 0919 DIRECTOR 2.00 X 0 0 0 3104251 0 326206 56 0 1 0 NCR CORPORATION 14181 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 ATM HARDWARE AND SYSTEMS PROVIDER 6836730 BLAZE PARTNERS LLC 106 LAFAYETTE ST SUITE 1B YARMOUTH ME 04096 MARKETING CONSULTANT 1351149 FISERV SOLUTIONS PO BOX 934054 ATLANTA GA 31193 IT SYSTEMS 957663 AVTEX SOLUTIONS 3500 AMERICAN BLVD WEST SUITE 300 BLOOMINGTON MN 55431 PHONE SYSTEM SUPPORT 410938 DC CONSULTING SERVICE 55 TEMPLE PLACE SUITE 6 BOSTON MA 02111 IT CONSULTING SERVICE 168522 16 INCOME FROM LOANS 522100 120856966 120856966 FEES AND CHARGES 522100 43473322 43473322 INTERCHANGE INCOME 522100 23732557 23732557 INSURANCE COMMISSIONS 522100 9443622 9443622 NON-MEMBER ATM INCOME 522100 1698874 1698874 -122054 -122054 199083287 13627399 4717493 8909906 8640 0 8640 8640 8640 512715 -512715 -512715 -512715 212206611 197384413 6425007 8397191 1013862 37050466 2212541 44225980 4741850 7729934 3281381 480028 131740 4252702 3145537 7761916 10938265 4571069 785951 17648 4452681 6156010 546497 BANK & CREDIT CARD FEES 25650740 ATM EXPENSES 1601483 UBIT TAX 734676 2866278 174349235 27384218 27736864 232108184 290443231 33074822 47081477 2985173131 3161472570 4647484 5075886 129973774 48687520 81913107 81286254 92095789 162344906 218656 154660 46115048 45593542 3502730439 3821189390 37967247 43151861 203383883 195371483 2846669209 3134708492 3088020339 3373231836 X 0 0 0 0 414710100 447957554 414710100 447957554 3502730439 3821189390 X 37857376 1594406 -6204328 X 0 0 0 17027607 17027607 68443955 18100410 50343545 9077252 6557414 2519838 31995394 24029696 7965698 3429566 3429566 81286254 MEMBERS' SHARE AND SAVINGS ACCOUNT 3134708492 3134708492 1 WORLDWIDE FOUNDATION OF CREDIT UNIONS 5710 MINERAL POINT ROAD MADISON WI 53705 396093210 501(C)(3) 10000 UNRESTRICTED FILENE RESEARCH INSTITUTE 1010 E WASHINGTON AVE SUITE 306 MADISON WI 53703 391645910 501(C)(3) 10000 UNRESTRICTED UNH FOUNDATION ELLIOT ALUMNI CENTER 9 EDGEWOOD ROAD DURHAM NH 03824 020437506 501(C)(3) 100000 UNH STADIUM PROJECT PLEDGE EASTER SEALS NEW HAMPSHIRE INC 555 AUBURN STREET MANCHESTER NH 03103 020272825 501(C)(3) 100000 NH VETERANS COUNT CAMPAIGN SPONSORSHIP NEW HAMPSHIRE VETERANS CEMETERY ASSOCIATION INC PO BOX 626 CONCORD NH 03302 020519618 501(C)(3) 30000 DONATION FOR THE HERITAGE LEARNING CENTER HAMPTON AREA CHAMBER OF COMMERCE 47 WINNACUNNET ROAD HAMPTON NH 03842 020144343 501(C)(6) 20000 2019 SEAFOOD FESTIVAL SPONSORSHIP NH FOOD BANK 62 WEST BROOK STREET MANCHESTER NH 03101 020222163 501(C)(3) 20000 UNRESTRICTED UNH CAMPUS RECREATION UNIVERSITY SYSTEM OF NH UNH CAMPUS RECREATION 128 MAIN ST DURHAM NH 03824 026000937 N/A 15000 2019/2020 CAMPUS RECREATION SPONSORSHIP AMERICAN INDEPENDENCE MUSEUM ONE GOVERNORS LANE EXETER NH 03833 223114603 501(C)(3) 10000 2019 BUSINESS PARTNERSHIP NEW HAMPSHIRE MILITARY ASSISTANCE FOUNDATION PO BOX 22271 PORTSMOUTH NH 03802 452714490 501(C)(3) 10000 SEACOAST SALUTES 2019 THE MASSACHUSETTS GENERAL HOSPITAL 125 NASHUA STREET SUITE 540 BOSTON MA 02114 041564655 501(C)(3) 10000 MISSION GRATITUDE - HOME BASE VETERANS DAY DINNER ANDROSCOGGIN VALLEY CHAMBER OF COMMERCE 961 MAIN STREET BERLIN NH 03570 020337909 501(C)(6) 7500 2019 HERITAGE PK & RIVERFIRE TITLE SPONSORSHIP THE SHANTY LLC 115 MIRONA ROAD PORTSMOUTH NH 03801 462783927 N/A 5611 SEACOAST VETERANS CONFERENCE MEALS AND PAPER SUPPLIES 9 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 547073 0 50000 0 9758 0 0 0 15542 0 622373 0 0 0 FAWN TERWILLIGER CLO 289309 0 19510 0 2772 0 22000 0 14508 0 348099 0 0 0 DAN CLARKE COO 243334 0 17079 0 11391 0 21569 0 19380 0 312753 0 0 0 SATISH MEHTA CIO 256515 0 17572 0 5334 0 22000 0 7294 0 308715 0 0 0 PHILIP VON STREICHER VP OVERSEAS 229038 0 16443 0 12373 0 20025 0 14508 0 292387 0 0 0 ANDREW MCGEORGE CFO (LEFT 06/19) 228208 0 31078 0 315 0 21173 0 9285 0 290059 0 0 0 MICHAEL BERGERON VP LOGISTICS 190548 0 13009 0 2615 0 16670 0 14508 0 237350 0 0 0 JOANNE NADEAU VP HUMAN RESOURCES 160923 0 46411 0 1706 0 16828 0 8857 0 234725 0 0 0 MICHAEL PORTER VP FOREIGN EXCHANGE 182639 0 11944 0 869 0 15899 0 19521 0 230872 0 0 0 WENDY BESWICK VP MARKETING 183518 0 12618 0 893 0 15950 0 9605 0 222584 0 0 0 PATRICK HARRIGAN CRO 173557 0 17336 0 625 0 10778 0 6909 0 209205 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 THERE WERE NO CONTRIBUTIONS OR DISTRIBUTIONS FROM THE SERP DURING 2019. 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 206,528. EURO CURRENCY CHANGE -160,673. CHANGE IN PENSION AND POSTRETIREMENT HEALTH PLAN -6,434,566. OTHER COMPREHENSIVE GAIN 184,383. SERVICE FINANCIAL ADVISORS LLC 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 472509975 FINANCIAL SERVICES NH SERVICE CREDIT UNION C -122054 757126 1.00000 1 SERVICE INSURE LLC 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 472517034 INSURANCE NH SERVICE FINANCIAL ADVISORS LLC C 6650 170890 1.00000 1 SERVICE CAPTIAL LLC 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 472551723 LENDING NH SERVICE FINANCIAL ADVISORS LLC C -125849 119503608 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 8640 RENTAL INCOME SERVICE CAPITAL LLC O 26925 SALARY REIMBURSEMENTS SERVICE CAPITAL LLC A 4717493 INTEREST INCOME SERVICE CAPITAL LLC D 109401913 LOAN PAYABLE