Five County Credit Union FY2020 filing

Bath, MEUnknown exempt organizationSince 1956EIN 01-0261795Revenue $17.7M in FY2020

On file with the IRSancorumcu.com765 Washington Street · Bath, ME

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To help our members achieve financial wellbeing.

$1.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $1.9M a year · 8% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$1.0M
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
58 mo
of spending, in cash
Looks good: 58.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$285.5M
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$17.7M
Spent
$16.4M
Net assets
$26.0M
By yearFY2020–FY2025
Revenue
$17.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$17.7M
FY2021$17.0M
FY2022$19.0M
FY2023$23.6M
FY2024$26.2M
FY2025$29.6M
Expenses
$16.4M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$16.4M
FY2021$14.7M
FY2022$17.4M
FY2023$20.6M
FY2024$24.0M
FY2025$28.8M
Net assets
$26.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$26.0M
FY2021$28.3M
FY2022$31.0M
FY2023$33.4M
FY2024$35.7M
FY2025$36.8M

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

12 people listed on the 990; $1.0M paid to officers and key staff.

Part VII, Section A · reportable compensation
Secretary, Treasurer & CEO
$315,971Pt VII · Sec A
SVP Finance & Technology/CFO
$167,165Pt VII · Sec A
SVP Administration
$151,353Pt VII · Sec A
SVP Support Services
$145,825Pt VII · Sec A
VP Human Resources
$125,435Pt VII · Sec A
SVP Retail Services
$115,223Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Terri Ryan—$689,488$196,771$174,518$159,651$151,353
Julie a Marquis$568,880$598,847$550,983$516,721$334,826$315,971
Kenneth H Stockford$272,641$300,224$273,046$250,216$173,274$167,165
Michael Foley$267,009$274,361$256,285$233,061$154,386$145,825
Jennifer Andersen$246,928$242,401$225,779$200,682$121,851$115,223
Lynn Farmer—$188,478$174,848$154,675$132,380$125,435
Kim Hutchins$121,544—————
Scott Budde$117,194$112,086————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Five County Credit Union executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Provides convenient banking with extended hours, modern and traditional services, and trusted solutions.

Provided by the organization

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1 program · in their own filed words · FY2020
01

Five county credit union's field of membership includes persons who live or work in the counties of androscoggin, cumberland, lincoln, kennebec, sagadahoc, waldo, somerset, and knox, maine, all active and retired employees of bath iron works, and relatives of eligible members.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$6K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$17.7M
Ln 12
Fees for servicesLn 2g$12.1M
Other incomeLn 4–11$3.9M
Investment incomeLn 3$1.6M
Money outPt IX
$16.4M
Ln 25
Owns and owesPt X
$26.0M
net assets · Ln 32
Cash and savingsLn 1–2$79.5M
Total assetsLn 16$311.5M
LiabilitiesLn 26$285.5M
PeoplePt VI, VII
12
listed · VII A
PaidVII A6
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$12.1M
Investment incomeLn 3$1.6M
Other incomeLn 4–11$3.9M
Gains on assetsLn 7−$44K
Total revenueLn 12$17.7M
Assets in detailPt X, end of year
CashLn 1$4.9M
SavingsLn 2$74.6M
Cash and savings togetherLn 1–2$79.5M
InvestmentsLn 11–13$7.4M
Land, buildings, equipmentLn 10c$11.9M
Other assetsLn 15$8.7M
Total assetsLn 16$311.5M
LiabilitiesLn 26$285.5M
Net assetsLn 32$26.0M
OperationsPt I, VI
EmployeesI 5164
VolunteersI 611
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$36.3M$79.5M
InvestmentsLn 11–13$6.2M$7.4M
Land, buildings, equipmentLn 10c$12.0M$11.9M
Total assetsLn 16$261.5M$311.5M
LiabilitiesLn 26$236.8M$285.5M
Net assetsLn 32$24.7M$26.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$940K
Pay of current officers, directors and key staffLn 5$559K
Other salaries and wagesLn 7$5.6M
Pension plan contributionsLn 8$497K
Other employee benefitsLn 9$666K
Payroll taxesLn 10$435K
Legal feesLn 11b$14K
Accounting feesLn 11c$153K
Other fees for servicesLn 11g$185K
Advertising and promotionLn 12$298K
Information technologyLn 14$173K
OccupancyLn 16$1.2M
TravelLn 17$54K
Conferences, conventions and meetingsLn 19$9K
InterestLn 20$193
Depreciation, depletion and amortizationLn 22$996K
InsuranceLn 23$129K
Other expenses (24a–d)Ln 24$4.5M
Total functional expensesLn 25$16.4M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $29.6M$28.8M$769K$36.8M 990 PDF
FY2024 $26.2M$24.0M$2.2M$35.7M 990 PDF
FY2023 $23.6M$20.6M$3.0M$33.4M 990 PDF
FY2022 $19.0M$17.4M$1.7M$31.0M 990 PDF
FY2021 $17.0M$14.7M$2.2M$28.3M 990 PDF
FY2020 Viewing $17.7M$16.4M$1.3M$26.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $17,667,578 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $12,685,115$12,117,280
I-10 Investment incomePrior year $1,152,025$1,603,985
I-11 Other revenuePrior year $3,784,254$3,946,313
I-12 Total revenuePrior year $17,621,394$17,667,578
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $1,042,576$940,353
I-15 Salaries and benefitsPrior year $7,547,475$7,725,978
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $7,658,229$7,706,865
I-18 Total expensesPrior year $16,248,280$16,373,196
I-19 Revenue less expensesPrior year $1,373,114$1,294,382
Part VI · Governance 6 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $17,667,578 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,117,280$12,117,280
VIII-3 Investment incomeExcluded from tax $1,648,230$1,648,230
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$44,245−$44,245
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,572,413 · Unrelated business $373,900$3,946,313
VIII-12 Total revenueRelated to mission $15,689,693 · Unrelated business $373,900 · Excluded from tax $1,603,985$17,667,578
Part IX · Statement of functional expenses $16,373,196 across 18 lines filed
IX-4 Benefits paid to or for members$940,353
IX-5 Pay of current officers, directors and key staff$558,689
IX-7 Other salaries and wages$5,569,378
IX-8 Pension plan contributions$496,875
IX-9 Other employee benefits$665,647
IX-10 Payroll taxes$435,389
IX-11b Legal fees$13,989
IX-11c Accounting fees$152,927
IX-11g Other fees for services$184,727
IX-12 Advertising and promotion$297,842
IX-14 Information technology$172,834
IX-16 Occupancy$1,206,924
IX-17 Travel$53,650
IX-19 Conferences, conventions and meetings$9,083
IX-20 Interest$193
IX-22 Depreciation, depletion and amortization$996,349
IX-23 Insurance$128,720
IX-24 Other expenses (24a–d)$4,489,627
IX-25 Total functional expenses$16,373,196
Part X · Balance sheet $311,529,938 assets, 13 lines filed
Asset lines not itemized here account for $203,550,724; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $4,721,836$4,891,589
X-2 Savings and temporary cash investmentsStart of year $31,614,624$74,633,378
X-9 Prepaid expenses and deferred chargesStart of year $671,245$508,716
X-10c Land, buildings and equipment, netStart of year $11,962,983$11,894,039
X-11 Publicly traded securitiesStart of year $1,028,375$1,074,812
X-12 Other securitiesStart of year $5,153,047$6,309,691
X-15 Other assetsStart of year $8,597,400$8,666,989
X-16 Total assetsStart of year $261,463,831$311,529,938
X-17 Accounts payable and accrued expensesStart of year $2,821,763$3,822,752
X-25 Other liabilitiesStart of year $233,911,179$281,628,675
X-26 Total liabilitiesStart of year $236,775,116$285,497,450
X-32 Total net assets or fund balancesStart of year $24,688,715$26,032,488
X-33 Total liabilities and net assetsStart of year $261,463,831$311,529,938
Part XI · Reconciliation of net assets $26,032,488 net assets at year end
XI-1 Total revenue$17,667,578
XI-2 Total expenses$16,373,196
XI-3 Revenue less expenses$1,294,382
XI-4 Net assets at start of year$24,688,715
XI-5 Net unrealized gains (losses) on investments$49,391
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$26,032,488

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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