ANNUAL REPORT. Federally insured by NCUA cport is an Equal Housing Lender NMLS ID:

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Lizbeth Harris
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1 2018 ANNUAL REPORT Federally insured by NCUA cport is an Equal Housing Lender NMLS ID:

2 Our Vision To deliver the best financial experience to our members

3 Our Values CONFIDENCE We are financially strong and operate responsibly to generate long-term value and stability. COMMUNITY We are local and care deeply about the communities in which we live and work. CURRENT We continuously strive to deliver innovative and leadingedge solutions to meet your changing needs. COOPERATIVE We value our relationship with you and provide the best and most appropriate services for our members. CHARACTER We treat you honestly and with respect, dignity, fairness, and professionalism.

cport s continued financial strength positions us well for 2019 and beyond to invest in new products and services for our members, and to support our communities.

4 MESSAGE FROM THE CEO Thanks to our members and employees, 2018 was an excellent year at cport Credit Union. cport grew memberships by 10% in 2018 and also grew our loan balance, deposits, and net income over the previous year. cport s continued financial strength positions us well for 2019 and beyond to invest in new products and services for our members, and to support our communities. We introduced new products to our members in 2018 to help best serve your needs. Our new Save Up Certificates can help you develop your savings for a loan down payment or an emergency fund. Bump Rate Certificates give savers an option to bump your certificate rate during its term. Our new Credit Builder Lines of Credit and Personal Lines of Credit offer new credit flexibility to members with low fixed rates. cport participated in the Best Places to Work in Maine program for the second time in 2018 and ranked 8 th in the medium company category, up from 16 th in 2017! I m proud that our employees continue to rate us as a great place to work. Our employees are critical to our ability to deliver the best financial experience to our members. On December 20, 2018, we opened our fifth branch at 35 Middle Street in Downtown Portland. cport is now Portland s most accessible credit union with three locations. We look forward to serving existing and new members at this new location! In 2018, cport strengthened and grew connections with our community partners. We continued to support Maine s immigrant community through sponsorships such as with the Greater Portland Immigrant Welcome Center s business hub expansion, Catholic Charities business incubator space Fikiria, Prosperity Maine s Annual Celebration, and the Intercultural Community Center in Westbrook. cport also sponsored the inaugural season of the Portland Regional Chamber of Commerce s speaker series Kegs & Issues, the Kennebec Valley YMCA Triathlon, and Scarborough Rotary and Scarborough Buy Local. We also held our cport Scholarship Program in Portland, Augusta, and Scarborough elementary schools. In 2018, about 800 students participated in the program, and we awarded over 100 college scholarships to third, fourth, fifth, and sixth grade students. Thank you to each of our 23,000 members for banking at cport. We look forward to serving you in 2019 and beyond! Gene Ardito President & CEO

from members received by our Member Care Team 80EMPLOYEES 5BRANCHES

5 23,168 MEMBERS 2018 HIGHLIGHTS OVER $50,000 $ $10,600 DONATED TO LOCAL COMMUNITY ORGANIZATIONS IN SCHOLARSHIPS AWARDED 73,584 Calls from members received by our Member Care Team 80EMPLOYEES 5BRANCHES 12,527 LOANS GIVEN $159,123,757 LOANS TOTAL AMOUNT 133,042 ATM Cash Withdrawals

SCHOLARSHIP PROGRAM cport is proud to partner with elementary schools in our communities to

scholarships, and held nine ceremonies at Portland, Augusta, and Scarborough schools

6 SCHOLARSHIP PROGRAM cport is proud to partner with elementary schools in our communities to provide the cport Scholarship Program to help raise college aspirations in our local students. In 2018, we received around 800 aspirations essays, awarded 106 students with college scholarships, and held nine ceremonies at Portland, Augusta, and Scarborough schools celebrating the dreams and aspirations of Maine s future leaders. Since the program began in 2008, students have written nearly 7,000 essays, and we have awarded over $72,000 in college scholarships!

GIVING BACK TO THE COMMUNITIES IN WHICH WE LIVE AND WORK In 2018,

including: Ending Hunger in Maine Fikiria: A Creative Marketplace

Center Kennebec Valley YMCA Maine Gay Men s Chorus Olympia Snowe

7 GIVING BACK TO THE COMMUNITIES IN WHICH WE LIVE AND WORK In 2018, cport contributed over $50,000 to local organizations and events, including: Ending Hunger in Maine Fikiria: A Creative Marketplace Greater Portland Immigrant Welcome Center Intercultural Community Center Kennebec Valley YMCA Maine Gay Men s Chorus Olympia Snowe Women s Leadership Portland Buy Local Portland Education Foundation Portland Trails Project G.R.A.C.E. Properity Maine Scarborough Buy Local Scarborough Community Chamber Scarborough Rotary Club Teens to Trails

8 OUR CREDIT UNION AT A GLANCE ASSETS (MILLIONS) NET INCOME (THOUSANDS) ,500 1,750 2,000 TYPES OF DEPOSITS Savings $65,372,197 Money Market $44,006,791 Checking $41,881,392 Share Certificates $27,589,090 IRAs $10,060,516 Club Accounts $6,204,958

9 LOAN GROWTH (# OF LOANS IN THOUSANDS) DEPOSITS (MILLIONS) MEMBER GROWTH (THOUSANDS) TYPES OF LOANS Mortgages and Home Equities $112,271,017 Vehicle Loans $27,138,431 Unsecured Loans $14,320,631 Other Loans $4,071,766 Higher Education $1,321,912

10 COMPARATIVE BALANCE SHEET (UNAUDITED) AS OF DECEMBER 31, 2018 AND DECEMBER 31, 2017 DEC 31, 2018 DEC 31, 2017 INCREASE PERCENT (DECREASE) CHANGE ASSETS UNSECURED LOANS 14,320,631 12,277,928 2,042,703 VEHICLE LOANS 27,138,431 24,804,010 2,334,421 MORTGAGE AND HOME EQUITY LOANS 112,271, ,660,474 4,610,543 HIGHER EDUCATION LOANS 1,321,912 2,625,881 (1,303,969) ALL OTHER LOANS 4,071,766 3,088, ,809 TOTAL LOANS $159,123,757 $150,457,250 $8,666, % ALLOWANCE FOR LOAN LOSSES (536,787) (489,768) (47,019) CASH $36,283,099 $33,694,922 $2,588,177 INVESTMENTS 4,055,514 4,802,998 (747,484) FURNITURE & FIXTURES 834, , ,765 LAND AND BUILDING 10,882,753 7,242,332 3,640,421 OTHER ASSETS 7,123,373 7,233,101 (109,728) TOTAL ASSETS $217,765,767 $203,546,128 $14,219, % LIABILITIES & EQUITY OTHER LIABILITIES $1,377,303 2,184,741 $(807,438) SHARES 65,372,197 59,029,986 6,342,211 MONEY MARKET SHARES 44,006,791 42,136,700 1,870,091 CLUB ACCOUNTS 6,204,958 4,421,179 1,783,779 SHARE DRAFTS 41,881,392 38,013,754 3,867,638 IRA SHARES 3,567,185 4,200,524 (633,339) IRA CERTIFICATES 6,493,331 6,733,474 (240,143) SHARE CERTIFICATES 27,589,090 27,602,190 (13,100) TOTAL SHARES $195,114,944 $182,137,807 $12,977, % TOTAL LIABILITIES $196,492,247 $184,322,548 $12,169, % REGULAR RESERVES $8,912,630 $8,912,630 $0 UNDIVIDED EARNINGS 12,358,058 10,298,110 2,059,948 UNREALIZED GAIN(LOSS) ON SECURITIES 2,832 12,840 (10,008) TOTAL EQUITY $21,273,520 $19,223,580 $2,049, % TOTAL LIABILITIES AND EQUITY $217,765,767 $203,546,128 $14,219, % MEMBERS 23,168 21,091 2, % NUMBER OF LOANS 12,527 11,057 1, %

11 STATEMENT OF INCOME AND EXPENSE (UNAUDITED) FOR THE PERIOD ENDED DECEMBER 31, 2018 INCOME INTEREST INCOME FROM LOANS $7,842,965 INTEREST INCOME FROM INVESTMENTS 698,719 MISCELLANEOUS INCOME 3,883,304 TOTAL INCOME $12,424,988 EXPENSES COMPENSATION & BENEFITS $4,281,132 TRAVEL & CONFERENCE 85,354 OFFICE OCCUPANCY EXPENSE 520,394 OFFICE OPERATIONS EXPENSE 1,283,122 EDUCATIONAL AND PROMOTIONAL EXPENSE 391,102 LOAN SERVICING EXPENSES 179,465 PROFESSIONAL AND OUTSIDE SERVICES 2,040,968 OPERATING FEES 43,460 MISCELLANEOUS OPERATING EXPENSE 80,565 LOAN LOSS PROVISION 476,573 LOSS (GAIN) ON DISPOSAL OF FIXED ASSETS 4,278 TOTAL NON INTEREST EXPENSE $9,386,413 DIVIDENDS PAID ON SHARES $978,627 NET INCOME $2,059,948 BOARD OF DIRECTORS Scott Paquet Mark Fernandez Jim Cloutier Quincy Hentzel Didier Hakizimana Linda McLean Barbara Wood Traverse Fournier Gene Ardito Director, Chair Director, Vice Chair Director, Treasurer Director, Secretary Director Director Director Director Director, cport President & CEO

12 About cport Credit Union cport Credit Union was founded in 1931 as the Federal Employees Credit Union of Maine. At the time, we were only the third credit union in the state of Maine. Shortly after our original founding, we changed our name to Government Employees Credit Union of Maine, in order to better reflect our charter and membership requirements. What started as an organization run out of our first manager s desk drawer grew to occupy the post office building at 125 Forest Avenue in Portland. Our headquarters moved to 555 Forest Avenue in 1986, and ten years later moved to our current location at 50 Riverside Industrial Parkway. cport has five branches located in Portland, Augusta, and Scarborough. Previously, our membership consisted of government employees, such as postal workers and military personnel. In 2005, we changed our name to cport Credit Union, again to better reflect the recent change in our charter, which now allows us to offer membership to anyone who lives or works in one of five counties: Cumberland, Kennebec, Androscoggin, Sagadahoc and York. At cport, we strive to deliver the best financial experience to our members. We connect with you, our members, through a high level of personalized service and through convenient banking technology. We connect with our communities by giving back to the areas that we serve. cportcu.org PORTLAND AUGUSTA SCARBOROUGH

Home Equity Lines of Credit

Winter 2018 Home Equity Lines of Credit A Home Equity Line of Credit (HELOC) can be a great source of flexible credit using value in your home to borrow against for home improvements, college or medical