Civic Intelligence

Maine Education Credit Union

990 • Fiscal year 2019 • EIN 01-0409063

Dec 01, 2018 to Nov 30, 2019 • Filed on May 07, 2020

Organization ProfileWWW.CONNECTEDCREDITUNION.ORG

View Organization Page

PO Box 1096Augusta, ME 04332-1096

(207) 623-3857

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

77th percentile

0.90x

Higher debt load relative to assets than 77% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

59th percentile

18.41x

Higher debt load relative to revenue than 59% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Net Margin

29th percentile

6.6%

Higher net margin than 29% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

100th percentile

$399,803

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 17.9% of source-year revenue.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Asset Growth

90th percentile

8.7%

Faster asset growth than 90% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2017 to 2019

Revenue Growth

80th percentile

12%

Faster revenue growth than 80% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2017 to 2019

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$45,768,152

Up $7,001,327 (+18%) from 2017

Net Assets

Up

$4,671,041

Up $357,525 (+8.3%) from 2017

Liabilities

Up

$41,097,111

Up $6,643,802 (+19%) from 2017

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin29th percentile

Revenue

Up

$2,232,862

Up $447,593 (+25%) from 2017

Expenses

Up

$2,085,182

Up $424,139 (+26%) from 2017

Net Income

Up

$147,680

Up $23,454 (+19%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2010: $27,819,776Liabilities 2010: $24,632,478Net Assets 2010: $3,187,2982010Assets 2011: $29,088,640Liabilities 2011: $25,707,090Net Assets 2011: $3,381,5502011Assets 2012: $31,142,295Liabilities 2012: $27,601,332Net Assets 2012: $3,540,9632012Assets 2013: $32,748,073Liabilities 2013: $29,059,133Net Assets 2013: $3,688,9402013Assets 2014: $32,599,875Liabilities 2014: $28,763,443Net Assets 2014: $3,836,4322014Assets 2015: $34,835,579Liabilities 2015: $30,807,346Net Assets 2015: $4,028,2332015Assets 2016: $36,912,914Liabilities 2016: $32,723,624Net Assets 2016: $4,189,2902016Assets 2017: $38,766,825Liabilities 2017: $34,453,309Net Assets 2017: $4,313,5162017Assets 2019: $45,768,152Liabilities 2019: $41,097,111Net Assets 2019: $4,671,0412019Assets 2020: $107,608,255Liabilities 2020: $98,118,893Net Assets 2020: $9,489,3622020Assets 2021: $117,326,918Liabilities 2021: $107,319,209Net Assets 2021: $10,007,7092021Assets 2022: $119,172,274Liabilities 2022: $107,631,898Net Assets 2022: $11,540,3762022Assets 2023: $118,978,136Liabilities 2023: $106,360,694Net Assets 2023: $12,617,4422023Assets 2024: $122,170,888Liabilities 2024: $108,183,334Net Assets 2024: $13,987,5542024

Highlighted filing

2019

Assets$45,768,152
Liabilities$41,097,111
Net Assets$4,671,041
Open 2019 Filing

Operations Trend

Revenue Growth80th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0Expenses 2010: $1,238,8842010Expenses 2011: $1,231,0042011Expenses 2012: $1,360,0292012Revenue 2013: $1,475,494Expenses 2013: $1,327,515Net Income 2013: $147,9792013Revenue 2014: $1,493,548Expenses 2014: $1,346,056Net Income 2014: $147,4922014Revenue 2015: $1,545,786Expenses 2015: $1,353,985Net Income 2015: $191,8012015Revenue 2016: $1,709,231Expenses 2016: $1,548,174Net Income 2016: $161,0572016Revenue 2017: $1,785,269Expenses 2017: $1,661,043Net Income 2017: $124,2262017Revenue 2019: $2,232,862Expenses 2019: $2,085,182Net Income 2019: $147,6802019Revenue 2020: $4,444,754Expenses 2020: $4,072,567Net Income 2020: $372,1872020Revenue 2021: $4,204,560Expenses 2021: $3,686,213Net Income 2021: $518,3472021Revenue 2022: $4,668,287Expenses 2022: $3,785,914Net Income 2022: $882,3732022Revenue 2023: $5,874,203Expenses 2023: $4,797,137Net Income 2023: $1,077,0662023Revenue 2024: $6,675,882Expenses 2024: $5,305,769Net Income 2024: $1,370,1132024

Highlighted filing

2019

Revenue$2,232,862
Expenses$2,085,182
Net Income$147,680
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2018 to Nov 30, 2019
Signed
May 7, 2020
Return Version
2018v3.1
Gross Receipts
$2,508,707
Mission and Program Overview

Mission

Provide members with savings and loan services

Provide members with savings and loan services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$25,016,745$26,440,938▲ $1,424,193
Investments Other Securities$11,793,000$12,138,000▲ $345,000
Rtn Earn Endowment Incm Other Fnds$4,523,361$4,671,041▲ $147,680
Savings and Temporary Cash Investments$2,097,599$3,095,576▲ $997,977
Land, Buildings, and Equipment, Net$2,598,691$2,265,874▼ $332,817
Cash and Non-Interest-Bearing Accounts$359,367$421,492▲ $62,125
Prepaid Expenses and Deferred Charges$92,420$103,480▲ $11,060
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$43,213,849$45,768,152▲ $2,554,303
Other Assets Total$1,256,027$1,302,792▲ $46,765
Liabilities
Accounts Payable and Accrued Expenses$38,690,488$41,097,111▲ $2,406,623
Total Liabilities$38,690,488$41,097,111▲ $2,406,623
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,523,361$4,671,041▲ $147,680
Total Liabilities and Net Assets / Fund Balance$43,213,849$45,768,152▲ $2,554,303

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,679,700$877,450$2,557,150
Land$461,236-$461,236
Equipment$124,938$328,021$452,959
Other Securities$12,138,000--
Compensation and Service Providers
Top Officer Pay100th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard LachanceCEOFT$116,722$283,081$399,803
Kelley WathenCFOFT$50,384$16,350$66,734

Board Members and Trustees

NameTitle
Norman DavisChairman
Michael ClementsVice Chairman
Dennis ScatesDirector
Isaac DyerDirector
Karen HarringtonDirector
Miles WhitlockDirector
Patricia HewettSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
SynergentData Processing, Marketing, Card ServicePO BOX 1236, Portland, ME 04104$327,644
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,346,943
Investment Income
$318,087
Other Revenue
$567,832
Change in Net Assets
$147,680
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,039,793
Salaries, Compensation, and Employee Benefits$739,122
Grants and Similar Amounts Paid$500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$466,537
Benefits to Members---$305,767
All Other Expenses---$200,267
Other Employee Benefits---$142,655
Other Salaries and Wages---$129,930
Advertising---$102,626
Depreciation Depletion---$100,438
Occupancy---$96,518
Other Expenses---$41,237
Grants to Domestic Individuals---$500
Total Functional Expenses$0$0$0$2,085,182
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Eric LachanceSon of CEOPayment for Landscaping ServicesNo$8,685
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The credit union had 3,869 members as of 11/30/2019.”

Form 990, Part VI, Section A, Line 7A

“Organization had members authorized to appoint members of the governing body.”

Form 990, Part VI, Section A, Line 7B

“Some governance decisions are subject to approval by members, such as election of the board of directors.”

Form 990, Part VI, Section B, Line 11B

“No review was or will be conducted”

Form 990, Part VI, Section B, Line 12C

“It is part of the swearing in of officers. Annually, each officer receives a copy of the policy and signs off that it is adhered to.”

Form 990, Part VI, Section B, Line 15

“We use a third party salary comparison program with updated ranges of salary based on job description and geographical location. This program is updated and referred to annually by a committee of the board for purposes of determining compensation.”

Form 990, Part VI, Section C, Line 19

“Governing documents are available upon request. Conflict of interest policy is available from the ceo. Financial statements are posted in the lobby and are provided to attendees at the annual meeting.”

Filing and Contact Details

Filer

Filer Name
Connected Credit Union
EIN
01-0409063
Phone
2076233857
Address
PO BOX 1096, AUGUSTA, ME 04332-1096

Signing Officer

Name
Richard Lachance
Title
CEO
Phone
2076233857
Signed
2020-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Lachance
Formed
1967
Legal Domicile
Me
Voting Board Members
7
Independent Board Members
7
Employees
16
Volunteers
10

Preparer

Firm
Wipfli Llp
Address
30 LONG CREEK DRIVE, SOUTH PORTLAND, ME 04106-2437
Preparer
Brad Weller CPA
Phone
2077745701
Raw XML AppendixShowing 400 of 413 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt038690488
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt041097111
IRS990/AccountsReceivableGrp/BOYAmt025016745
IRS990/AccountsReceivableGrp/EOYAmt026440938
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES.
IRS990/AdvertisingGrp/TotalAmt0102626
IRS990/AllOtherExpensesGrp/TotalAmt0200267
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/BackupWthldComplianceInd01
IRS990/BenefitsToMembersGrp/TotalAmt0305767
IRS990/BooksInCareOfDetail/PersonNm0KELLEY WATHEN
IRS990/BooksInCareOfDetail/PhoneNum02076233857
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0PO BOX 1096
IRS990/BooksInCareOfDetail/USAddress/CityNm0AUGUSTA
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0ME
IRS990/BooksInCareOfDetail/USAddress/ZIPCd0043321096
IRS990/BusinessRlnWithFamMemInd01
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt0359367
IRS990/CashNonInterestBearingGrp/EOYAmt0421492
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0466537
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt0327644
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt0PO BOX 1236
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0PORTLAND
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0ME
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd004104
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0SYNERGENT
IRS990/ContractorCompensationGrp/ServicesDesc0DATA PROCESSING, MARKETING, CARD SERVICE
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt0305767
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt0500
IRS990/CYInvestmentIncomeAmt0318087
IRS990/CYOtherExpensesAmt01039793
IRS990/CYOtherRevenueAmt0567832
IRS990/CYProgramServiceRevenueAmt01346943
IRS990/CYRevenuesLessExpensesAmt0147680
IRS990/CYSalariesCompEmpBnftPaidAmt0739122
IRS990/CYTotalExpensesAmt02085182
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt02232862
IRS990/DecisionsSubjectToApprovaInd01
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/TotalAmt0100438
IRS990/Desc0THE CREDIT UNION HAS 3,869 MEMBERS AS OF 11/30/19. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES.
IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt016
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/ExpenseAmt02085181
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt00.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt10.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt20.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt30.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt40.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt50.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt60.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt740.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt840.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt734849
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt816350
IRS990/Form990PartVIISectionAGrp/PersonNm0NORMAN DAVIS
IRS990/Form990PartVIISectionAGrp/PersonNm1DENNIS SCATES
IRS990/Form990PartVIISectionAGrp/PersonNm2MILES WHITLOCK
IRS990/Form990PartVIISectionAGrp/PersonNm3PATRICIA HEWETT
IRS990/Form990PartVIISectionAGrp/PersonNm4MICHAEL CLEMENTS
IRS990/Form990PartVIISectionAGrp/PersonNm5ISAAC DYER
IRS990/Form990PartVIISectionAGrp/PersonNm6KAREN HARRINGTON
IRS990/Form990PartVIISectionAGrp/PersonNm7RICHARD LACHANCE
IRS990/Form990PartVIISectionAGrp/PersonNm8KELLEY WATHEN
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt7364954
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt850384
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt8CFO
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr01967
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0-40845
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantAmt0500
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt0500
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt0235000
IRS990/GrossReceiptsAmt02508707
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt0358932
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0358932
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt011793000
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt012138000
IRS990/IRPDocumentCnt05
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01205471
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02598691
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02265874
IRS990/LandBldgEquipCostOrOtherBssAmt03471345
IRS990/LegalDomicileStateCd0ME
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0275845
IRS990/LoanOutstandingInd01
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt05036
IRS990/MiscellaneousRevenueGrp/UnrelatedBusinessRevenueAmt05036
IRS990/MissionDesc0PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt04523361
IRS990/NetAssetsOrFundBalancesEOYAmt04671041
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-40845
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-40845
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt096518
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01256027
IRS990/OtherAssetsTotalGrp/EOYAmt01302792
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0142655
IRS990/OtherExpensesGrp/Desc0SERVICE CHARGES
IRS990/OtherExpensesGrp/Desc1COMPUTER COSTS
IRS990/OtherExpensesGrp/Desc2PROFESSIONAL SERVICES
IRS990/OtherExpensesGrp/Desc3LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/TotalAmt0283875
IRS990/OtherExpensesGrp/TotalAmt1172612
IRS990/OtherExpensesGrp/TotalAmt242220
IRS990/OtherExpensesGrp/TotalAmt341237
IRS990/OtherRevenueMiscGrp/BusinessCd0522100
IRS990/OtherRevenueMiscGrp/BusinessCd1522100
IRS990/OtherRevenueMiscGrp/BusinessCd2522100
IRS990/OtherRevenueMiscGrp/Desc0WARRANTY FEES
IRS990/OtherRevenueMiscGrp/Desc1OTHER INCOME
IRS990/OtherRevenueMiscGrp/Desc2TRUSTAGE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0497343
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt159311
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0497343
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt159311
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt26142
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt06142
IRS990/OtherRevenueTotalAmt0567832
IRS990/OtherSalariesAndWagesGrp/TotalAmt0129930
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt092420
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0103480
IRS990/PrincipalOfficerNm0RICHARD LACHANCE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INCOME FROM MEMBE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01346943
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01346943
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt0192224
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt02000
IRS990/PYInvestmentIncomeAmt0235889
IRS990/PYOtherExpensesAmt0962094
IRS990/PYOtherRevenueAmt0567903
IRS990/PYProgramServiceRevenueAmt01256368
IRS990/PYRevenuesLessExpensesAmt0209845
IRS990/PYSalariesCompEmpBnftPaidAmt0693997
IRS990/PYTotalExpensesAmt01850315
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02060160
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0147680
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt04523361
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt04671041
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02097599
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03095576
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01679700
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0877450
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02557150
IRS990ScheduleD/EquipmentGrp/BookValueAmt0124938
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0328021
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0452959
IRS990ScheduleD/LandGrp/BookValueAmt0461236
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0461236
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt012138000
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02265874
IRS990ScheduleD/TotalBookValueSecuritiesAmt012138000
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0116722
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount03000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt011544
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt023305
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt0245232
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0RICHARD LACHANCE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0399803
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0ERIC LACHANCE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0SON OF CEO
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt08685
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PAYMENT FOR LANDSCAPING SERVICES
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0500000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0RICHARD P LACHANCE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0SPLIT DOLLAR LIFE INSURANCE ARRANGEMENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0500000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0CEO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt0500000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HAD 3,869 MEMBERS AS OF 11/30/2019.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION HAD MEMBERS AUTHORIZED TO APPOINT MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SOME GOVERNANCE DECISIONS ARE SUBJECT TO APPROVAL BY MEMBERS, SUCH AS ELECTION OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW WAS OR WILL BE CONDUCTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4IT IS PART OF THE SWEARING IN OF OFFICERS. ANNUALLY, EACH OFFICER RECEIVES A COPY OF THE POLICY AND SIGNS OFF THAT IT IS ADHERED TO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5WE USE A THIRD PARTY SALARY COMPARISON PROGRAM WITH UPDATED RANGES OF SALARY BASED ON JOB DESCRIPTION AND GEOGRAPHICAL LOCATION. THIS PROGRAM IS UPDATED AND REFERRED TO ANNUALLY BY A COMMITTEE OF THE BOARD FOR PURPOSES OF DETERMINING COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. CONFLICT OF INTEREST POLICY IS AVAILABLE FROM THE CEO. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY AND ARE PROVIDED TO ATTENDEES AT THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt043213849
IRS990/TotalAssetsEOYAmt045768152
IRS990/TotalAssetsGrp/BOYAmt043213849
IRS990/TotalAssetsGrp/EOYAmt045768152
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt016
IRS990/TotalFunctionalExpensesGrp/TotalAmt02085182
IRS990/TotalGrossUBIAmt011178
IRS990/TotalLiabilitiesBOYAmt038690488
IRS990/TotalLiabilitiesEOYAmt041097111
IRS990/TotalLiabilitiesGrp/BOYAmt038690488
IRS990/TotalLiabilitiesGrp/EOYAmt041097111
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04523361
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04671041
IRS990/TotalOtherCompensationAmt051199
IRS990/TotalProgramServiceExpensesAmt02085181
IRS990/TotalProgramServiceRevenueAmt01346943
IRS990/TotalReportableCompFromOrgAmt0415338
IRS990/TotalRevenueGrp/ExclusionAmt0358932
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01862752
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02232862
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt011178
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt043213849
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt045768152
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1096
IRS990/USAddress/CityNm0AUGUSTA
IRS990/USAddress/StateAbbreviationCd0ME
IRS990/USAddress/ZIPCd0043321096
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.CONNECTEDCREDITUNION.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD LACHANCE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum02076233857
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CONNECTED CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0CONN
ReturnHeader/Filer/EIN0010409063
ReturnHeader/Filer/PhoneNum02076233857
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1096
ReturnHeader/Filer/USAddress/CityNm0AUGUSTA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ME
ReturnHeader/Filer/USAddress/ZIPCd0043321096
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AE99A42BFBBAACA004BCD32729E9007019FDCFD4
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt098.2.208.84
ReturnHeader/FilingSecurityInformation/IPDt02020-05-07
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm006:48:33
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390758449
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WIPFLI LLP

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$45,768,152
Liabilities
$41,097,111
Net assets
$4,671,041
Revenue
$2,232,862
Expenses
$2,085,182
Net income
$147,680
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$122$108$14.0$6.68$5.31$1.37
2023Detailed filing. Detailed filing data is available for this year.$119$106$12.6$5.87$4.80$1.08
2022Detailed filing. Detailed filing data is available for this year.$119$108$11.5$4.67$3.79$0.88
2021Detailed filing. Detailed filing data is available for this year.$117$107$10.0$4.20$3.69$0.52
2020Detailed filing. Detailed filing data is available for this year.$108$98.1$9.49$4.44$4.07$0.37
2019Detailed filing. Detailed filing data is available for this year.$45.8$41.1$4.67$2.23$2.09$0.15
2017Detailed filing. Detailed filing data is available for this year.$38.8$34.5$4.31$1.79$1.66$0.12
2016Detailed filing. Detailed filing data is available for this year.$36.9$32.7$4.19$1.71$1.55$0.16
2015Detailed filing. Detailed filing data is available for this year.$34.8$30.8$4.03$1.55$1.35$0.19
2014Detailed filing. Detailed filing data is available for this year.$32.6$28.8$3.84$1.49$1.35$0.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.7$29.1$3.69$1.48$1.33$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.1$27.6$3.54$1.36
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.1$25.7$3.38$1.23
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.8$24.6$3.19$1.24