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TRUCHOICE FEDERAL CREDIT UNION

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

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 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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