Mar, 31, 2021 — TRUCHOICE FEDERAL CREDIT UNION is a federal credit union headquartered in PORTLAND, ME with 3 branch locations and about $187.43 million in total assets. Opened 66 years ago in 1955, TRUCHOICE FEDERAL CREDIT UNION has about 12,201 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: | 12,201 |
| 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, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $187,427,626 |
| CEO/Manager: | KENNETH B ACKER |
| Chairperson: | Joseph Winschel |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 24,359,870 |
| TOTAL INVESTMENTS | 6,149,075 |
| Loans Held for Sale | 1,395,482 |
| Real Estate Loans | 67,652,472 |
| Unsecured Loans | 23,009,810 |
| Other Loans | 51,780,798 |
| TOTAL LOANS | 142,443,080 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,234,338 |
| Land And Building | 3,828,294 |
| Other Fixed Assets | 798,931 |
| NCUSIF Deposit | 1,536,951 |
| All Other Assets | 8,150,281 |
| TOTAL ASSETS | 187,427,626 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 487,895 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 33,222,565 |
| Regular shares | 68,024,878 |
| All Other Shares & Deposits | 70,196,920 |
| TOTAL SHARES & DEPOSITS | 171,444,363 |
| TOTAL LIABILITIES | 171,932,258 |
| Regular Reserve | 1,442,167 |
| Other Reserves | -2,619,505 |
| Undivided Earnings | 16,672,706 |
| TOTAL EQUITY | 15,495,368 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 187,427,626 |
| INCOME & EXPENSE | |
| Loan Income | 1,903,572 |
| Investment Income | 11,952 |
| Other Income | 229,989 |
| Total Employee Compensation & Benefits | 986,403 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 909,769 |
| Non-operating Income & (Expense) | 158,236 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 155,770 |
| Cost of Funds | 167,641 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 585,642 |
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