Peopleschoice Credit Union
- Assets
- $356.3m
- Revenue
- $19.8m
- Investments
- $0.0
- Employees
- 75
- Location
- Saco, ME
- Founding
- Data as of
- 12/2023
- EIN
- 01-6015389
Organization Overview
Peopleschoice Credit Union is located in Saco, ME. As of 12/2023, Peopleschoice Credit Union employed 75 individuals. Peopleschoice 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 12/2023, Peopleschoice Credit Union generated $19.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $17.9m during the year ending 12/2023. While expenses have increased by 11.0% per year over the past 8 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
2023
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 20,637 MEMBERS AS OF 12/31/2023. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Parker Chair | OfficerTrustee | 1 | $0 |
Jeremy Ray Vice Chair | OfficerTrustee | 1 | $0 |
Geoffrey Iacuessa Secretary | OfficerTrustee | 1 | $0 |
Kimberly Titus Treasurer | OfficerTrustee | 1 | $0 |
Travis Vigneault Director | Trustee | 1 | $0 |
Craig Pendleton Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alkami Techology Inc Online Banking Platform | 12/30/23 | $291,318 |
Synergent Core, Cards, Member Statements, Marketin | 12/30/23 | $1,133,237 |
Workgroup Technology Partners Inc Information Technology And Services | 12/30/23 | $245,502 |
Cusag Llc Collections | 12/30/23 | $133,402 |
Darling Consulting Group Asset Liability Consulting Firm | 12/30/23 | $124,427 |
Financial Statements
| 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 | $14,197,053 |
| Investment income | $1,697,876 |
| 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 | $19,812,909 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $37,046 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $4,470,530 |
| Compensation of current officers, directors, key employees. | $714,629 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,391,804 |
| Pension plan accruals and contributions | $263,372 |
| Other employee benefits | $631,275 |
| Payroll taxes | $364,174 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,289 |
| Fees for services: Accounting | $195,728 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,868,521 |
| Advertising and promotion | $532,934 |
| Office expenses | $739,850 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $495,192 |
| Travel | $119,106 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,521 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $685,893 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $17,905,256 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,728,240 |
| Savings and temporary cash investments | $62,885,587 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $266,634,132 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,072,660 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,982,043 |
| Total assets | $356,302,662 |
| Accounts payable and accrued expenses | $953,928 |
| 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 | $9,578,067 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $328,021,425 |
| Total liabilities | $338,553,420 |
| 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 | $17,749,242 |
| Total liabilities and net assets/fund balances | $356,302,662 |