Evergreen Credit Union is located in Portland, ME. The organization was established in 1969. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2019, Evergreen Credit Union employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Evergreen Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2019, Evergreen Credit Union generated $16.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $13.9m during the year ending 12/2019. While expenses have increased by 9.7% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION HAS 24,727 MEMBERS AS OF 12/31/2019. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jason Lindstrom CEO | Officer | 40 | $313,423 |
Timothy Verreault COO | Officer | 40 | $226,890 |
Kathleen Archambault CFO | Officer | 40 | $218,630 |
Jere Shaw VP Cml Lending | 40 | $142,516 | |
Denis Knox VP Lending | 40 | $140,096 | |
Howard Lowell VP Marketing | 40 | $136,788 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Synergent Core Data Processor | 12/30/19 | $1,414,439 |
Commercialc Construction Services Building Remodeling | 12/30/19 | $227,959 |
St Clarie Media Group Advertising Agency | 12/30/19 | $179,038 |
Systems Engineering It Managed Services | 12/30/19 | $168,644 |
Construction Admin Professionals Remodeling Management | 12/30/19 | $112,426 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $12,614,892 |
Investment income | $1,029,116 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $16,124,008 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $1,051,488 |
Compensation of current officers, directors, key employees. | $880,150 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $4,647,027 |
Pension plan accruals and contributions | $246,480 |
Other employee benefits | $860,169 |
Payroll taxes | $397,204 |
Fees for services: Management | $0 |
Fees for services: Legal | $37,534 |
Fees for services: Accounting | $60,000 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,960,017 |
Advertising and promotion | $613,285 |
Office expenses | $1,020,192 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $489,642 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $115,887 |
Interest | $42,232 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $562,760 |
Insurance | $136,279 |
All other expenses | $27,550 |
Total functional expenses | $13,894,311 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,409,760 |
Savings and temporary cash investments | $18,760,056 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $3,581,500 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $236,194,188 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $538,343 |
Net Land, buildings, and equipment | $8,754,403 |
Investments—publicly traded securities | $0 |
Investments—other securities | $40,608,631 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $5,898,144 |
Total assets | $315,745,025 |
Accounts payable and accrued expenses | $666,396 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $3,285,500 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $283,059,511 |
Total liabilities | $287,011,407 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $28,733,618 |
Total liabilities and net assets/fund balances | $315,745,025 |
Organization Name | Assets | Revenue |
---|---|---|
Triangle Credit Union Nashua, NH | $721,279,705 | $32,775,232 |
Granite State Credit Union Manchester, NH | $530,155,859 | $29,297,971 |
Bellwether Community Credit Union Manchester, NH | $529,448,434 | $25,125,740 |
Holy Rosary Regional Credit Union Rochester, NH | $309,146,063 | $15,761,944 |
Evergreen Credit Union Portland, ME | $315,745,025 | $16,124,008 |
Members First Credit Union Of Nh Manchester, NH | $226,612,558 | $8,681,671 |
State Chartered Credit Unions In Maine Sabattus, ME | $62,608,228 | $2,538,662 |
New Hampshire Postal Credit Union Manchester, NH | $45,637,899 | $1,644,459 |
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