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 |
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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 |
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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 |
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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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