Dec, 31, 2023 — MAINE SOLUTIONS FEDERAL CREDIT UNION is a federal credit union headquartered in SOUTH PORTLAND, ME with 1 branch location and about $21.06 million in total assets. Opened 58 years ago in 1966, MAINE SOLUTIONS FEDERAL CREDIT UNION has about 1,319 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MAINE SOLUTIONS FEDERAL CREDIT UNION |
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Address: (Main Office) | 209 Western Ave Unit B SOUTH PORTLAND, ME 04106 |
Phone: | (207) 775-8371 |
Fax: | (207) 761-6235 |
Website: | https://www.mesolutionsfcu.org |
Branches: | 1 branch locations |
Members: | 1,319 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 17436 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1966 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $21,060,846 |
CEO/Manager: | Diana S Garcia |
Chairperson: | Scott Hopkins |
ASSETS: | $ Amount |
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Cash & Equivalents | 964,782 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 7,631,956 |
Unsecured Loans | 565,783 |
Other Loans | 4,036,052 |
TOTAL LOANS | 12,233,791 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,474 |
Land And Building | 28,463 |
Other Fixed Assets | 23,491 |
NCUSIF Deposit | 183,149 |
All Other Assets | 0 |
TOTAL ASSETS | 21,060,846 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 3,534 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 2,631,634 |
Regular shares | 6,360,592 |
All Other Shares & Deposits | 10,105,128 |
TOTAL SHARES & DEPOSITS | 19,097,354 |
TOTAL LIABILITIES | 19,100,888 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 1,959,958 |
TOTAL EQUITY | 1,959,958 |
TOTAL LIABILITIES, SHARES, & EQUITY | 21,060,846 |
INCOME & EXPENSE | |
Loan Income | 493,525 |
Investment Income | 213,412 |
Other Income | 78,008 |
Total Employee Compensation & Benefits | 322,514 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 261,256 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,655 |
Cost of Funds | 180,996 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 35,434 |
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