2024-10-16T13:38:04-05:00 2023-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2023-01-01 016015389 PEOPLESCHOICE CREDIT UNION PEOP 2072824156 23 INDUSTRIAL PARK ROAD SACO ME 04072 ADAM WARFEL CFO 2072824156 2024-10-14 1 0 JULIA HOWLAND CPA P01711658 2077745701 2024-10-14 2023 2024-10-15 13:58:12Z ADAM WARFEL 23 INDUSTRIAL PARK ROAD SACO ME 04072 19812909 0 X WWW.PEOPLESCHOICECREDITUNION.COM X 1962 ME PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES. 9 9 75 10 125070 0 0 0 10154940 14197053 1622634 1697876 4244116 3917980 16021690 19812909 32196 37046 1546956 4470530 6311333 6365254 0 0 0 5742044 7032426 13632529 17905256 2389161 1907653 320519293 356302662 305548717 338553420 14970576 17749242 PEOPLE FIRST, ALWAYS. 0 0 17905256 37046 17989963 THE CREDIT UNION HAS 20,637 MEMBERS AS OF 12/31/2023. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES. 17905256 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4140 1 1 75 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ADAM WARFEL 2072824156 PO BOX 488 BIDDEFORD ME 04005 LISA PARKER CHAIR 1.00 X X 0 0 0 JEREMY RAY VICE CHAIR 1.00 X X 0 0 0 GEOFFREY IACUESSA SECRETARY 1.00 X X 0 0 0 KIMBERLY TITUS TREASURER 1.00 X X 0 0 0 TRAVIS VIGNEAULT DIRECTOR 1.00 X 0 0 0 CRAIG PENDLETON DIRECTOR 1.00 X 0 0 0 DANIEL MONTEMBEAU DIRECTOR 1.00 X 0 0 0 MICHAEL KEEGAN DIRECTOR 1.00 X 0 0 0 SUSAN DESCHAMBAULT DIRECTOR 1.00 X 0 0 0 LUKE LABBE CEO 40.00 X 430256 0 28969 ADAM WARFEL CFO 40.00 X 214601 0 40803 KURT SCHICKLE VP MORTGAGE LENDING 40.00 X 183275 0 9041 JOHN LAVERRIERE VP MARKETING & TECHNOLOGY 40.00 X 141918 0 28108 MICHELLE BECKWITH AVP PHYSICAL BRANCH 40.00 X 101951 0 18770 DANIEL DALLAIRE COO 40.00 X 188848 0 39612 1260849 0 165303 6 0 1 0 SYNERGENT PO BOX 1236 PORTLAND ME 04104 CORE, CARDS, MEMBER STATEMENTS, MARKETIN 1133237 ALKAMI TECHOLOGY INC PO BOX 122223 DALLAS TX 753122223 ONLINE BANKING PLATFORM 291318 WORKGROUP TECHNOLOGY PARTNERS INC PO BOX 110 WESTBROOK ME 040980110 INFORMATION TECHNOLOGY AND SERVICES 245502 CUSAG LLC PO BOX 892 ALSTEAD NH 753122223 COLLECTIONS 133402 DARLING CONSULTING GROUP 260 MERRIMAC ST NEWBURYPORT MA 81514 ASSET LIABILITY CONSULTING FIRM 124427 5 LOAN INCOME FROM MEMBERS 522100 14197053 14197053 14197053 1697876 1697876 OTHER INCOME 522100 3008247 3007184 1063 SERVICE CHARGES AND FEES 522100 785726 785726 NON-MEMBER ATM FEES 522100 46828 46828 77179 77179 3917980 19812909 17989963 125070 1697876 X 37046 4470530 714629 4391804 263372 631275 364174 17289 195728 1868521 532934 739850 495192 119106 8521 685893 LOAN SERVICING/COLLECTI 1243927 PROVISION FOR BAD DEBTS 1025000 ASSOCIATION DUES 80906 MISCELLANEOUS 19559 17905256 2968331 3728240 70856270 62885587 225053667 266634132 15554728 8482068 7226997 7072660 14414028 15982043 320519293 356302662 1122967 953928 4000000 9578067 300425750 328021425 305548717 338553420 X 0 0 0 0 14970576 17749242 14970576 17749242 320519293 356302662 X 1907653 304335 566678 X 0 0 0 1203914 1203914 10301911 5318928 4982983 4048903 3163140 885763 7072660 MEMBERS' SHARE AND SAVINGS ACCOUNT 328021425 328021425 1 MAINE CREDIT UNION'S CAMPAIGN FOR ENDING HUNGER PO BOX 1236 PORTLAND ME 041045024 261720415 501(C)3 37046 0 CASH TO CONTINUE OPERATIONS 1 0 X X X 0 0 0 LUKE LABBE CEO 348243 0 72500 0 9513 0 0 0 28969 0 459225 0 0 0 ADAM WARFEL CFO 188568 0 25500 0 533 0 10719 0 30084 0 255404 0 0 0 DANIEL DALLAIRE COO 162860 0 25500 0 488 0 9528 0 30084 0 228460 0 0 0 KURT SCHICKLE VP MORTGAGE LENDING 65411 0 117528 0 336 0 9041 0 0 0 192316 0 0 0 JOHN LAVERRIERE VP MARKETING & TECHNOLOGY 125646 0 15152 0 1120 0 7302 0 20806 0 170026 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS HAVE A VOTE DURING THE ANNUAL MEETING TO APPOINT THE BOARD OF DIRECTORS TO THE CREDIT UNION BUT THE BOARD OF DIRECTORS MAKES MOST SIGNIFICANT DECISIONS ONCE ELECTED. THE MEMBERS RECEIVE MONTHLY DIVIDENDS BASED ON SHARE ACCOUNTS. MEMBERS DO NOT RECEIVE ANY DISTRIBUTIONS, PROFITS, OR NET ASSETS UPON DISSOLUTION. FORM 990, PART VI, SECTION A, LINE 7A ALL MEMBERS HAVE A VOTE DURING THE ANNUAL MEETING TO APPOINT THE BOARD OF DIRECTORS FOR THE CREDIT UNION, REGARDLESS OF THEIR MEMBERSHIP BALANCE. FORM 990, PART VI, SECTION A, LINE 7B MOST DECISIONS ARE MADE BY THE BOARD OF DIRECTORS. THE ONLY DECISION THE MEMBERS WOULD VOTE ON IS THE ELECTION OF THE BOARD OF DIRECTORS AND APPROVAL OF ANY MERGERS WITH ANOTHER INSTITUTION THAT WOULD HAVE BEEN BASED ON A DECISION BY THE BOARD OF DIRECTORS TO HAVE A VOTE. FORM 990, PART VI, SECTION B, LINE 11B LINE 11A EXPLANATION - THE PRESIDENT OF THE CREDIT UNION REVIEWS THE 990 BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION'S POLICY IS WITHIN VARIOUS POLICIES. EMPLOYEES WITH THE ABILITY TO ORIGINATE LOANS ARE NOT ABLE TO DO SO TO THEMSELVES OR FOR ANY FAMILY MEMBERS. ALL LOANS GO THROUGH A CLOSING CHECKLIST TO ENSURE PROPER APPROVAL AND THE NEW LOAN REPORT IS REVIEWED BY A COMPLIANCE OFFICER AS WELL AS PRESENTED TO THE BOARD OF DIRECTORS MONTHLY. EMPLOYEES ARE ALSO RESTRICTED FROM PERFORMING ANY TRANSACTIONS ON THEIR ACCOUNTS, OR FAMILY MEMBER ACCOUNTS; EMPLOYEES CANNOT MAKE ANY CHANGES TO THEIR ACCOUNTS AND WOULD NEED ANOTHER EMPLOYEE TO DO SO. THE FILE MAINTENANCE REPORT IS REVIEWED DAILY TO REVIEW ANY CHANGES TO EMPLOYEE ACCOUNTS. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES KOKER GOODWIN & ASSOCIATES, INC., A COMPENSATION AND PERFORMANCE CONSULTANT GROUP OUT OF WICHITA, KS. FORM 990, PART VI, SECTION C, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC FORM 990, PART IX, LINE 11G PROFESSIONAL FEES 1,868,521. FORM 990, PART XI, LINE 9: PENSION LIABILITY ADJUSTMENT 566,678.