Ancorum Credit Union

Nonprofit profile at a glance

EIN
010261795
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Bath, ME, USA
Phone
2074433528
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$29,565,856
Expenses
$28,796,626
Assets
$394,913,946
Liabilities
$358,079,476

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • JULIE A MARQUIS (PRESIDENT & CEO)

Highest reported compensation

  • JULIE A MARQUIS (PRESIDENT & CEO): $626,377 total reported compensation
  • KENNETH H STOCKFORD (SVP FINANCE & TECHNOLOGY/CFO): $319,068 total reported compensation
  • MICHAEL FOLEY (SVP SUPPORT SERVICES/CGO): $313,013 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To help our members achieve financial wellbeing.

What it reported doing in 2025

Ancorum credit union's field of membership includes persons who live or work in the counties of androscoggin, cumberland, franklin, kennebec, knox, lincoln, oxford, penobscot, piscataquis, sagadahoc, somerset, and waldo Maine, all active and retired employees of bath iron works, employees of ancorum credit union and relatives of eligible members. The credit union's primary activity is providing loans to members and their families. As of 12/31/25, ancorum credit union serves 30,693 members and has total deposits of $351,162,990. In addition, the credit union has 22,953 outstanding loans to members with a total balance of $285,930,755 at 12/31/2025.

Operating model

Revenue model
Earned-program. 72% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 48
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.6%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 13.71; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $626K · 15 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.7M reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.