2019-11-15T14:36:57-06:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 20 E THOMAS RD STE 2300 PHOENIX AZ 85012 990 2018-01-01 020240752 SERVICE CREDIT UNION SERV 6034228300 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 DAVID ARAUJO PRESIDENT/CEO 6034228379 2019-11-14 1 MARY C GREEN P00447183 6022662248 67.137.57.251 2019-11-14 11:03:06 US P FD94BE241EB30D59D427851B854338419E5FBD2E CF5DC47B04BEE981237F6452D320A88985A44A86 2018 2020-04-17 16:48:07Z DAVID ARAUJO 3003 LAFAYETTE ROAD PORTSMOUTH NH 03801 190179200 0 X WWW.SERVICECU.ORG X 1957 NH CREDIT UNION OPERATED WITHOUT PROFIT FOR MUTUAL PURPOSES. 7 7 977 15 5547605 2754007 0 0 160033467 181497923 6920845 8562822 8640 8640 166962952 190069385 0 0 19002670 25873233 52260425 56284225 0 0 0 70078831 72183759 141341926 154341217 25621026 35728168 3249124832 3502730439 2867933029 3088020339 381191803 414710100 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 2018 EXPENSES WERE $16,153,257, $7,420,396, AND $2,299,579, 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 67329 0 977 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 JOANNE WHITING CHAIR 8.00 X X 14140 0 0 DR JAMES FISHBEIN VICE CHAIR 8.00 X X 17189 0 0 SCOTT WENSLEY TREASURER 8.00 X X 14958 0 0 DAN EAGAN BOARD 8.00 X 16190 0 0 SUE DESJARDINS BOARD 8.00 X 7706 0 0 CLIFFORD TAYLOR BOARD 8.00 X 10357 0 0 DAVID HANCHETT BOARD 8.00 X 1118 0 0 DAVID VAN ROSSUM PRESIDENT/CEO (UNTIL 6/2018) 40.00 X 1350112 0 28371 ANDREW MCGEORGE CFO/INTERIM CEO 40.00 X 560119 0 65846 PATRICK HARRIGAN CRO 40.00 X 295027 0 94307 FAWN TERWILLIGER CLO 40.00 X 377491 0 100510 DAN CLARKE COO 40.00 X 320439 0 71372 SATISH MEHTA CIO 40.00 X 299659 0 73828 PHILIP VON STREICHER VP OVERSEAS 40.00 X 382213 0 13845 JOANNE NADEAU VP HUMAN RESOURCES 40.00 X 289722 0 94939 MICHAEL BERGERON VP LOGISTICS 40.00 X 288037 0 132047 ROBERT W DROUIN VP CONTROLLER 40.00 X 226957 0 54385 MICHAEL PORTER VP FOREIGN EXCHANGE 40.00 X 233291 0 113491 WENDY BESWICK VP MARKETING 40.00 X 226107 0 34691 4930832 0 877632 57 0 1 0 NCRDI PO BOX 740641 LOS ANGELES CA 90074 ONLINE BANKING PLATFORM 7222021 PINNACLE TECHNOLOGY PARTNERS INC PO BOX 843838 DALLAS TX 75284 IT SYSTEMS CONSULING AND HARDWARE 2477715 CETO AND ASSOCIATES 3325 PADDOCKS PARKWAY STE 400 SUWANEE GA 30024 VENDOR THAT CONDUTED FEE STUDY ANALYSIS 1545969 NCR CORPORATION 14181 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 ATM HARDWARE AND SYSTEMS PROVIDER 1143202 JAMES & MATTHEW LTD 2 SHAKER ROAD SUITE D220 SHIRLEY MA 01464 MARKETING CONSULTANT AND VIDEO PRODUCTIO 1086289 71 INCOME FROM LOANS 522100 106087516 106087516 FEES AND CHARGES 522100 42189565 42189565 INTERCHANGE INCOME 522100 22526082 22526082 INSURANCE COMMISSIONS 522100 8937384 8937384 NON-MEMBER ATM INCOME 522100 1842950 1842950 -85574 -85574 181497923 8672637 3696015 4976622 8640 0 8640 8640 8640 109815 -109815 -109815 -109815 190069385 179654973 5547605 4866807 25873233 4114795 39449222 4018592 5577352 3124264 41889 169036 4166564 3961008 7663083 11369991 4457487 678465 16807 4073805 5905936 482405 BANK & CREDIT CARD FEES 24991106 UBIT TAX 611210 ATM EXPENSES 527076 3067891 154341217 21499267 27384218 200613578 232108184 23914388 33074822 2739207674 2985173131 6593568 4647484 127974003 46060896 83980203 81913107 129563790 92095789 282653 218656 43469711 46115048 3249124832 3502730439 44965857 37967247 193314793 203383883 2629652379 2846669209 2867933029 3088020339 X 0 0 0 0 381191803 414710100 381191803 414710100 3249124832 3502730439 X 35728168 -597968 -1611903 X 0 0 0 16396007 16396007 68301268 16388506 51912762 9640283 6461501 3178782 32468722 23210889 9257833 1167723 1167723 81913107 MEMBERS' SHARE AND SAVINGS ACCOUNT 2846669209 2846669209 X X X 1 1 X X X X X 1 1 0 DAVID VAN ROSSUM PRESIDENT/CEO (UNTIL 6/2018) 1042854 0 300248 0 7010 0 22000 0 6371 0 1378483 0 0 0 ANDREW MCGEORGE CFO/INTERIM CEO 442538 0 116951 0 630 0 47422 0 18424 0 625965 0 0 0 PATRICK HARRIGAN CRO 238977 0 54244 0 1806 0 75883 0 18424 0 389334 0 0 0 FAWN TERWILLIGER CLO 308871 0 65848 0 2772 0 86665 0 13845 0 478001 0 0 0 DAN CLARKE COO 249371 0 59022 0 12046 0 52948 0 18424 0 391811 0 0 0 SATISH MEHTA CIO 247435 0 49452 0 2772 0 66881 0 6947 0 373487 0 0 0 PHILIP VON STREICHER VP OVERSEAS 316003 0 53420 0 12790 0 0 0 13845 0 396058 0 0 0 JOANNE NADEAU VP HUMAN RESOURCES 248296 0 38654 0 2772 0 81094 0 13845 0 384661 0 0 0 MICHAEL BERGERON VP LOGISTICS 260534 0 25000 0 2503 0 118202 0 13845 0 420084 0 0 0 ROBERT W DROUIN VP CONTROLLER 176910 0 49699 0 348 0 35961 0 18424 0 281342 0 0 0 MICHAEL PORTER VP FOREIGN EXCHANGE 192722 0 39766 0 803 0 95067 0 18424 0 346782 0 0 0 WENDY BESWICK VP MARKETING 175711 0 50000 0 396 0 22000 0 12691 0 260798 0 0 0 PART I, LINES 4A-B DAVID VAN ROSSUM RECEIVED A SEVERANCE PAYMENT OF $642,151. THERE WERE NO CONTRIBUTIONS OR DISTRIBUTIONS FROM THE SERP DURING 2018. 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 IS PREPARED AND REVIEWED BY THE VP/CONTROLLER. A SUBSEQUENT REVIEW IS PERFORMED BY THE CFO AND THE CEO PRIOR TO SUBMISSION. A COPY OF THE RETURN IS PROVIDED TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12 THE POLICY REQUIRES SELF DISCLOSE 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 -83,129. EURO CURRENCY CHANGE -535,250. CHANGE IN PENSION AND POSTRETIREMENT HEALTH PLAN -903,580. OTHER COMPREHENSIVE LOSS -89,944. 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