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TRUCHOICE FEDERAL CREDIT UNION

Dec, 31, 2020 — TRUCHOICE FEDERAL CREDIT UNION is a federal credit union headquartered in PORTLAND, ME with 3 branch locations and about $173.35 million in total assets. Opened 66 years ago in 1955, TRUCHOICE FEDERAL CREDIT UNION has about 12,070 members and employs 45 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:TRUCHOICE FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 10659
PORTLAND, ME 04104
Phone:(207) 772-0808
Fax:(207) 772-8683
Website:http://www.trufcu.com
Branches:3 branch locations
Members:12,070
Credit Union Type:Federal Credit Union
Charter Number:10100
Membership Type:Community - Rural District
Corporate Credit Union:No
Year Opened:1955
Last Audited:Sep 01, 2019
FHLB Member:Yes
Low Income Designation:No
Assets:$173,353,001
CEO/Manager:KENNETH B ACKER
Chairperson:Joseph Winschel

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • Insurance/Investment Sales
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 16,998,574
TOTAL INVESTMENTS 3,813,387
Loans Held for Sale 782,204
 
 Real Estate Loans 65,330,173
 Unsecured Loans 24,768,622
 Other Loans 49,132,494
 TOTAL LOANS 139,231,289
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,182,581
 Land And Building 3,859,704
 Other Fixed Assets 734,295
 NCUSIF Deposit 1,520,782
 All Other Assets 7,595,347
  TOTAL ASSETS 173,353,001
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 607,114
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 29,155,775
 Regular shares 59,977,576
 All Other Shares & Deposits 68,515,967
  TOTAL SHARES & DEPOSITS 157,649,318
  TOTAL LIABILITIES 158,256,432
 Regular Reserve 1,442,167
 Other Reserves -2,432,662
 Undivided Earnings 16,087,064
  TOTAL EQUITY 15,096,569
  TOTAL LIABILITIES, SHARES, & EQUITY 173,353,001
INCOME & EXPENSE  
 Loan Income 7,795,329
 Investment Income 77,555
 Other Income 2,633,255
 Total Employee Compensation & Benefits 3,925,292
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,615,235
 Non-operating Income & (Expense) 150,400
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,087,363
 Cost of Funds 1,153,240
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 875,409
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