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 12/2021, Evergreen Credit Union employed 106 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 12/2021, Evergreen Credit Union generated $18.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $16.7m during the year ending 12/2021. While expenses have increased by 9.7% per year over the past 7 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
2021
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 26,574 MEMBERS AS OF 12/31/2021. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jason Lindstrom CEO | Officer | 40 | $321,220 |
Kathleen Archambault CFO | Officer | 40 | $246,359 |
Timothy Verreault COO | Officer | 40 | $246,203 |
Jere Shaw VP Cml Lending | Officer | 40 | $168,128 |
Cathy Lestage VP Hr | 40 | $147,701 | |
Denis Know VP Lending | 40 | $144,305 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Synergent Core Data Processor | 12/30/21 | $1,588,906 |
Property Valuation Services Loan Appraisal And Valuation Services | 12/30/21 | $214,425 |
St Clarie Media Group Advertising Agency | 12/30/21 | $198,838 |
Benchmark Building Contractor-remodel Work | 12/30/21 | $1,144,974 |
Systems Engineering It Managed Services | 12/30/21 | $160,285 |
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 | $14,001,252 |
Investment income | $942,318 |
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 | $18,374,213 |
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 | $1,121,949 |
Compensation of current officers, directors, key employees. | $1,138,931 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $5,814,090 |
Pension plan accruals and contributions | $301,380 |
Other employee benefits | $1,245,452 |
Payroll taxes | $493,604 |
Fees for services: Management | $0 |
Fees for services: Legal | $26,573 |
Fees for services: Accounting | $33,600 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $2,337,403 |
Advertising and promotion | $594,543 |
Office expenses | $1,276,520 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $552,308 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $32,484 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $667,673 |
Insurance | $105,063 |
All other expenses | $30,319 |
Total functional expenses | $16,697,278 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,670,038 |
Savings and temporary cash investments | $65,758,865 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $108,200 |
Loans from Officers, Directors, or Controlling Persons | $8,216,344 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $299,900,212 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $1,128,688 |
Net Land, buildings, and equipment | $10,250,200 |
Investments—publicly traded securities | $0 |
Investments—other securities | $74,697,470 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $2,890,775 |
Total assets | $464,620,792 |
Accounts payable and accrued expenses | $798,504 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $432,396,766 |
Total liabilities | $433,195,270 |
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 | $31,425,522 |
Total liabilities and net assets/fund balances | $464,620,792 |
Organization Name | Assets | Revenue |
---|---|---|
Granite State Credit Union Manchester, NH | $634,204,646 | $34,223,432 |
Triangle Credit Union Nashua, NH | $877,280,050 | $30,352,425 |
Bellwether Community Credit Union Manchester, NH | $557,690,894 | $21,955,180 |
Evergreen Credit Union Portland, ME | $464,620,792 | $18,374,213 |
Holy Rosary Regional Credit Union Rochester, NH | $399,129,935 | $15,434,385 |
Members First Credit Union Of Nh Manchester, NH | $244,669,595 | $9,857,819 |
State Chartered Credit Unions In Maine Sabattus, ME | $73,474,429 | $2,472,839 |
New Hampshire Postal Credit Union Manchester, NH | $56,507,236 | $1,103,748 |
Freudenberg-Nok Employees Credit Union Bristol, NH | $2,418,377 | $48,651 |