Members First Credit Union Of Nh is located in Manchester, NH. The organization was established in 1980. 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 12/2022, Members First Credit Union Of NH employed 59 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Members First Credit Union Of NH 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 12/2022, Members First Credit Union Of NH generated $9.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $8.5m during the year ending 12/2022. While expenses have increased by 3.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE CREDIT UNION MEMBERS WITH LOW COST/HIGH VALUE FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIVIDENDS/MEMBER BENEFITS
EMPLOYEE COMPENSATION
OPERATING EXPENSES FOR ALL BRANCHES
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Bruce Leighton Former President/ceo | 40 | $916,867 | |
Karl Betz SVP & Chief Financial Officer/interim CEO | Officer | 40 | $181,546 |
Thomas Andrew Svp-Chief Lending Officer | Officer | 40 | $174,666 |
Michael Simoneau SVP Community Outreach Officer | 40 | $127,601 | |
Heidi Beaulieu VP Consumer Lending & It | 40 | $114,301 | |
Cynthia Mccormick Former Vice President, Retail & Operations | 40 | $113,751 |
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 | $5,565,875 |
Investment income | $1,253,952 |
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 | $9,857,819 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $9,000 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $272,345 |
Compensation of current officers, directors, key employees. | $356,212 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,715,373 |
Pension plan accruals and contributions | $82,915 |
Other employee benefits | $535,249 |
Payroll taxes | $221,843 |
Fees for services: Management | $0 |
Fees for services: Legal | $60,385 |
Fees for services: Accounting | $133,076 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $316,671 |
Office expenses | $2,175,844 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $347,228 |
Travel | $29,016 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $25,379 |
Interest | $13,307 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $622,912 |
Insurance | $60,294 |
All other expenses | $91,373 |
Total functional expenses | $8,515,356 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,496,261 |
Savings and temporary cash investments | $0 |
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 | $143,641,846 |
Inventories for sale or use | $4,716 |
Prepaid expenses and deferred charges | $430,921 |
Net Land, buildings, and equipment | $11,160,499 |
Investments—publicly traded securities | $0 |
Investments—other securities | $79,413,078 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $7,522,274 |
Total assets | $244,669,595 |
Accounts payable and accrued expenses | $3,101,027 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $382,667 |
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 | $232,321,859 |
Total liabilities | $235,805,553 |
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 | $8,864,042 |
Total liabilities and net assets/fund balances | $244,669,595 |
Organization Name | Assets | Revenue |
---|---|---|
Bellwether Community Credit Union Manchester, NH | $557,690,894 | $21,955,180 |
Evergreen Credit Union Portland, ME | $464,620,792 | $18,374,213 |
Sharon & Cresent United Credit Union Brockton, MA | $438,601,837 | $18,630,554 |
Quincy Credit Union Quincy, MA | $736,275,717 | $20,097,786 |
Holy Rosary Regional Credit Union Rochester, NH | $399,129,935 | $15,434,385 |
Alltrust Credit Union Fairhaven, MA | $299,264,971 | $13,016,630 |
Members Plus Credit Union Medford, MA | $342,620,781 | $10,885,310 |
St Jeans Credit Union Salem, MA | $315,403,428 | $11,808,191 |
Mass Bay Credit Union South Boston, MA | $300,728,924 | $12,109,797 |
Holyoke Credit Union Holyoke, MA | $242,121,845 | $10,425,579 |
Members First Credit Union Of Nh Manchester, NH | $244,669,595 | $9,857,819 |
Southbridge Credit Union Southbridge, MA | $204,683,991 | $8,395,141 |