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 |
| 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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