2016-08-10T13:35:39-05:00 2015-12-31 010523282 Berry Dunn McNeil & Parker LLC 1000 Elm Street 15th Floor Manchester NH 03101 990 2015-01-01 020187390 St Mary's Bank Credit Union STMA 6036694600 PO Box 990 Manchester NH 03105 Robert A Desmeules CFO & Treasurer 6036694600 2016-08-09 1 Barbara J McGuan CPA P00219457 6036697337 2016-08-09 2015 2016-12-15 16:53:06Z Ronald Covey PO Box 990 Manchester NH 03105 48819811 0 X www.stmarysbank.com X 1908 NH Provide members with savings and loan services. 9 9 274 0 644520 -89478 0 0 31803311 35549859 2941656 3255000 0 0 34744967 38804859 160491 145202 3208959 3312076 14048539 15675112 0 0 0 15843263 16767650 33261252 35900040 1483715 2904819 814655790 890680089 754640408 829901888 60015382 60778201 X Provide members with savings and loan services to effectively serve our members by providing trusted ethical advice that helps members achieve their financial goals, a full array of financial services that offer real economic value, and best in the market service that results in long-term loyalty. 0 0 The credit union has 96,989 members as of December 31, 2015. Members have access to a wide variety of low-cost, high-quality services. St. Mary's Bank's Charitable Giving Theme is Children, Families and Individuals in Need. St. Mary's Bank proactively supports the communities it serves through a number of programs and initiatives with the commitment of monetary and non-monetary resources. St. Mary's supports many non-profit and social service agencies through donations and sponsorships. In 2015, St. Mary's Bank supported approximately 120 organizations through donations and sponsorships for a total of about $73,500.St. Mary's also has a formal Community Outreach Program that is delivered through partnerships with local non-profit and social services agencies. Programs include a number of specific programs to assist the underserved including Family Emergency Loans (FEL), Individual Development Accounts (IDAs) and Grants for 501 (c)(3), non-profit organizations. In 2015, St. Mary's awarded five (5) grants totaling approximately $18,325 to non-profit organizations. In addition, $995 in FEL's were made to individuals and families in need.The two St. Mary's Bank Medallion scholarship funds - St. Mary's Bank Medallion Fund and Armand Lemire Medallion Fund respectively. These funds are administered by the NH Charitable Foundation and intended to assist members enrolling in accredited vocational or technical programs. In 2015, a total of two (2) scholarships for a total of $2,000 were granted.In addition, last year our employees collectively volunteered approximately 900 hours (for a volunteer worth of $21,000 based on www.independentsector.org) of their time by serving on Boards of non-profits and volunteering for various community related events. St. Mary's also allows non-profits partners to use meeting space at the Operations & Education Center free of charge. St. Mary's Bank participates with a number of lender organizations offering homeownership programs that assists the under-served including; FHA, VA, USDA-RD, NHHFA, FNMA-My Community, FNMA-ROC, and FNMA-HARP. St. Mary's Bank also offers Portfolio Financing options and in 2015 continued its "Welcome Home First-time Homebuyer Program" program.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 -Mortgage Insurance Premium Reduction -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 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 18268 0 1 274 1 1 1 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 Robert DesMeules 6036694600 200 McGregor St Manchester NH 03101 Guy D Chapdelaine Director 3.00 X 5650 0 0 Daniel J Healy Director 3.00 X 5250 0 0 David H Bellman Vice Chair 3.00 X X 3850 0 0 Gina M Balkus Chairman 3.00 X X 3250 0 0 Joseph G Fremeau Director 3.00 X 3250 0 0 Ronald J Rioux Director 3.00 X 4800 0 0 Stephen J Grzywacz Director 3.00 X 5100 0 0 Suzanne I Vachon Director 3.00 X 5300 0 0 Elizabeth Hitchcock Director 3.00 X 2500 0 0 Donald St Germain Chief Lending Officer 40.00 X 179891 0 21337 Robert DesMeules CFO & Treasurer 40.00 X 160122 0 29615 Ronald Covey President & CEO 40.00 X 405939 0 30953 Steven Macek Director of Consumer Lending 40.00 X 131413 0 29635 Judy Leclerc Residential Loan Originator 40.00 X 217226 0 20912 Ian Lucy Executive Dir. of Operations & IT 40.00 X 221124 0 20375 Richard Haney Residential Loan Originator 40.00 X 139525 0 28217 Melissa Pomeroy BIS Manager 40.00 X 135179 0 10534 1629369 0 191578 20 0 1 0 CU Cooperative Systems LLC 9692 Haven Ave Rancho Cucamonga CA 02920 ATM Network 556247 Accountemps 12400 Collections Drive Chicago IL 60693 Temporary Employee Agency 441447 Arkatechture 433 US Rte One Ste 206 York ME 03909 Data Warehouse Reporting 431766 Robert Half Technology 12400 Collections Center Drive Chicago IL 60693 Temporary Employee Agency 316414 Total System Services Inc PO Box 2506 Columbus GA 319022506 Credit Card Processing 281735 13 Loan Income From Members 522100 25721662 25721662 Service Charges 522100 7804812 7298441 506371 Other Operating Income 522100 2023385 2023385 35549859 904952 138149 766803 12340000 25000 9940855 74097 2399145 -49097 2350048 2350048 38804859 35043488 644520 3116851 145202 3312076 866807 11362932 892890 1652803 899680 57132 709420 276682 659802 926001 1450244 252235 47871 1213625 2765130 141083 Other Equipment 2401467 Provision for Loan Loss 1577339 Debit Card Expense 1013969 Credit Bureau/Underwrit 660316 2615334 35900040 X 6346740 6356831 38806549 50080119 1391403 2040181 675937046 753973691 1192161 1266889 35358964 11274631 23233658 24084333 36226697 23710093 4518600 3275000 27002936 25892952 814655790 890680089 262511 213998 989729 538082 40000000 40000000 713388168 789149808 754640408 829901888 X 0 0 0 0 60015382 60778201 60015382 60778201 814655790 890680089 X 2904819 39000 -2181000 X 0 1 X 1 0 0 1 X 612760 612760 21544915 4217675 17327240 13178836 7034503 6144333 22453 22453 0 24084333 Members' Shares 777662103 Other Liabilities 11487705 789149808 X 35774036 39000 39000 35735036 3069823 3069823 38804859 35011217 0 35011217 888823 888823 35900040 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 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 US federal jurisdiction. With few exceptions, the Credit Union is no longer subject to examination by the Internal Revenue Service (IRS) for years before 2012. Part XI, Line 4b - Other Adjustments: OMSR Expenses 778,356. Origination Fees 110,467. Net Defined Benefit Pension Costs Adjustments 2,181,000. Part XII, Line 4b - Other Adjustments: OMSR Expenses 778,356. Origination Fees 110,467. 1 Catholic Medical Center 100 McGregor Street Manchester NH 031023770 020315693 501(c)(3) 6000 Charitable Support Daniel Webster Council 571 Holt Avenue Manchester NH 03109 020222115 501(c)(3) 5500 Charitable Support Granite United Way 22 Concord Street Floor 2 Manchester NH 03101 026006033 501(c)(3) 27500 Charitable Support 3 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 0 0 Donald St Germain Chief Lending Officer 170574 0 8483 0 834 0 2776 0 18561 0 201228 0 0 0 Robert DesMeules CFO & Treasurer 142480 0 12785 0 4857 0 2555 0 27060 0 189737 0 0 0 Ronald Covey President & CEO 330036 0 61021 0 14882 0 3975 0 26978 0 436892 0 0 0 Steven Macek Director of Consumer Lending 116381 0 10653 0 4379 0 2133 0 27502 0 161048 0 0 0 Judy Leclerc Residential Loan Originator 92307 0 124159 0 760 0 3351 0 17561 0 238138 0 0 0 Ian Lucy Executive Dir. of Operations & IT 202352 0 16198 0 2574 0 3387 0 16988 0 241499 0 0 0 Richard Haney Residential Loan Originator 46397 0 93063 0 65 0 2239 0 25978 0 167742 0 0 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 11 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, prior to filing. Form 990, Part VI, Section B, line 12c New employees are required to acknowledge that they have read and understand this policy. As updates to the policy occur, all SMB employees are required to acknowledge that they have read and understand the revised policy as applicable. In addition, the Director of HR sends out an annual "All Employee" communication reminding employees to use the review process for any situations that might be perceived as questionable. 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 X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: St. Mary's Bank Credit Union P.O. Box 990 Manchester, NH 03105 EIN: 02-0187390 St. Mary's Bank Credit Union is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, line 9: Net Defined Benefit Pension Costs Adjustments -2,181,000. Riverside Financial Services Inc 200 McGregor Street Manchester NH 03102 020419388 Financial and Tax Planning Services NH St Mary's Bank Credit Union C 1344 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0