Dec, 31, 2023 — BREWER FEDERAL CREDIT UNION is a federal credit union headquartered in BREWER, ME with 2 branch locations and about $102.39 million in total assets. Opened 64 years ago in 1960, BREWER FEDERAL CREDIT UNION has about 8,629 members and employs 20 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BREWER FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 229 Dirigo Dr BREWER, ME 04412-1665 |
| Phone: | (207) 989-7240 |
| Fax: | (207) 989-5985 |
| Website: | https://brewerfcu.org |
| Branches: | 2 branch locations |
| Members: | 8,629 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13682 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $102,386,388 |
| CEO/Manager: | P David DeFroscia, Jr |
| Chairperson: | Donald F Brown |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,244,693 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,592,600 |
| Unsecured Loans | 3,090,026 |
| Other Loans | 49,680,240 |
| TOTAL LOANS | 70,362,866 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -403,697 |
| Land And Building | 1,195,059 |
| Other Fixed Assets | 94,981 |
| NCUSIF Deposit | 856,415 |
| All Other Assets | 0 |
| TOTAL ASSETS | 102,386,388 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 192,222 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 19,038,769 |
| Regular shares | 27,648,699 |
| All Other Shares & Deposits | 45,242,632 |
| TOTAL SHARES & DEPOSITS | 91,930,102 |
| TOTAL LIABILITIES | 92,122,324 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 10,264,064 |
| TOTAL EQUITY | 10,264,064 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 102,386,388 |
| INCOME & EXPENSE | |
| Loan Income | 3,794,780 |
| Investment Income | 709,723 |
| Other Income | 646,151 |
| Total Employee Compensation & Benefits | 1,571,899 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,210,969 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 101,413 |
| Cost of Funds | 1,212,822 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 932,785 |
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