Dec, 31, 2023 — SEABOARD FEDERAL CREDIT UNION is a federal credit union headquartered in BUCKSPORT, ME with 3 branch locations and about $207.29 million in total assets. Opened 84 years ago in 1940, SEABOARD FEDERAL CREDIT UNION has about 12,886 members and employs 35 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SEABOARD FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 177 Main St BUCKSPORT, ME 04416 |
| Phone: | (207) 469-6341 |
| Fax: | (207) 469-2866 |
| Website: | https://www.seaboardfcu.com |
| Branches: | 3 branch locations |
| Members: | 12,886 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4118 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $207,293,296 |
| CEO/Manager: | Kyle W Casburn |
| Chairperson: | Tony Manzo |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,963,254 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 79,078,400 |
| Unsecured Loans | 7,853,253 |
| Other Loans | 46,622,440 |
| TOTAL LOANS | 134,883,709 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -454,008 |
| Land And Building | 984,525 |
| Other Fixed Assets | 213,347 |
| NCUSIF Deposit | 1,712,195 |
| All Other Assets | 0 |
| TOTAL ASSETS | 207,293,296 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 3,504,303 |
| Accounts Payable & Other Liabilities | 2,213,383 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 24,818,570 |
| Regular shares | 67,904,608 |
| All Other Shares & Deposits | 92,707,066 |
| TOTAL SHARES & DEPOSITS | 185,430,244 |
| TOTAL LIABILITIES | 191,147,930 |
| Regular Reserve | 0 |
| Other Reserves | -2,699,384 |
| Undivided Earnings | 18,844,750 |
| TOTAL EQUITY | 16,145,366 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 207,293,296 |
| INCOME & EXPENSE | |
| Loan Income | 7,315,764 |
| Investment Income | 1,439,163 |
| Other Income | 1,703,173 |
| Total Employee Compensation & Benefits | 3,030,992 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,282,484 |
| Non-operating Income & (Expense) | 6,275 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 250,000 |
| Cost of Funds | 2,893,422 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,119,023 |
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