MAINE STATE CREDIT UNION (EIN 010196194) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1935

Legal Domicile

Principal Officer

STEPHEN WALLACE

Phone

8005408707

Tax Period

2023-01-01 to 2023-12-31

MAINE STATE CREDIT UNION is a tax-exempt nonprofit with EIN 010196194, based in AUGUSTA, ME. Founded in 1935, the organization files IRS Form 990 and reported its most recent data for fiscal year 2023. In that period, it reported $30,231,672 in total revenue and $28,782,297 in total expenses, with net assets of $54,453,728.

Mission

PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $55,840

Program Service Revenue $21,860,081

Investment Income $3,207,024

Other Revenue $5,108,727

TOTAL REVENUE $30,231,672

Expense Breakdown

Grants Paid $202,037

Salaries & Benefits $10,617,031

Fundraising Expenses $0

Other Expenses $10,941,248

TOTAL EXPENSES $28,782,297

Year-over-Year Comparison

	2023	2022	Change
Revenue	$30,231,672	$24,248,381	+0.2%
Expenses	$28,782,297	$20,904,856	+0.4%
Net Income	$1,449,375	$3,343,525	-0.6%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

154

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,507,718

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC POIRIER	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
ROLAND MAHEUX	VICE CHAIRPERSON	1.00	Officer Director	$0	$0	$0
GEORGE LAPOINTE	TREASURER	1.00	Officer Director	$0	$0	$0
LIZ OUELLETTE	SECRETARY	1.00	Officer Director	$0	$0	$0
LEONARD CABANA	DIRECTOR	1.00	Director	$0	$0	$0
GARY CROCKER	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS CUSICK	DIRECTOR	1.00	Director	$0	$0	$0
SU LEIGH	DIRECTOR THRU JULY 23'	1.00	Director	$0	$0	$0
DUNCAN MACKELLAR	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL RODERIGUE	DIRECTOR	1.00	Director	$0	$0	$0
JAMES SOUCIE	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN WALLACE	PRESIDENT/CEO	40.00	Officer	$359,023	$46,440	$405,463
ERIN CAMPBELL	SVP/CFO THRU SEPT 23'	40.00	Officer	$252,715	$34,039	$286,754
ADAM KAVANAGH	SVP/COO THRU SEPT 23'	40.00	Officer	$233,444	$33,396	$266,840
BRIE MELLOR	SVP/CHIEF LENDING OFFICER	40.00	Officer	$173,153	$37,351	$210,504
SHANE ABBOTT	SVP/CHIEF RETAIL OFFICER	40.00	Officer	$172,825	$37,985	$210,810
JASON HILT	VP OF FINANCE/INTERIM CFO	40.00	Officer	$109,677	$17,670	$127,347
BRUCE HARRINGTON	VP OF COMMERICAL LENDING	40.00	Highest	$148,453	$38,244	$186,697
JEFFREY CHARLAND	VP COMMERCIAL LOAN OFFICER	40.00	Highest	$140,867	$9,070	$149,937
JENNIFER ROPER	VP OF MARKETING	40.00	Highest	$130,560	$8,539	$139,099
JENNIFER BECHARD	VP OF HUMAN RESOURCES	40.00	Highest	$123,251	$33,223	$156,474
AMANDA CROMMETT	VP OF ORG. DEVELOPMENT	40.00	Highest	$116,303	$16,655	$132,958

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$30,231,672	$28,782,297	$643,067,217	$1,449,375
2022	$24,248,381	$20,904,856	$586,697,194	$3,343,525
2021	$22,418,636	$17,839,981	$575,894,366	$4,578,655
2020	$20,746,217	$19,054,731	$531,168,901	$1,691,486
2019	$20,717,237	$17,924,353	$453,958,365	$2,792,884
2018	$18,683,696	$15,132,668	$411,220,788	$3,551,028

MAINE STATE CREDIT UNION