Dec, 31, 2023 — MAINE SAVINGS FEDERAL CREDIT UNION is a federal credit union headquartered in HAMPDEN, ME with 11 branch locations and about $734.56 million in total assets. Opened 63 years ago in 1961, MAINE SAVINGS FEDERAL CREDIT UNION has about 38,559 members and employs 145 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MAINE SAVINGS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 101 Western Ave HAMPDEN, ME 04444 |
| Phone: | (207) 862-6500 |
| Fax: | (207) 862-6502 |
| Website: | https://www.mainesavings.com |
| Branches: | 11 branch locations |
| Members: | 38,559 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14565 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $734,564,231 |
| CEO/Manager: | Vanessa Madore |
| Chairperson: | Donald Grant |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 80,140,660 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 306,895,609 |
| Unsecured Loans | 44,159,297 |
| Other Loans | 207,270,366 |
| TOTAL LOANS | 570,927,107 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,016,432 |
| Land And Building | 11,526,229 |
| Other Fixed Assets | 3,139,362 |
| NCUSIF Deposit | 5,310,253 |
| All Other Assets | 71,627 |
| TOTAL ASSETS | 734,564,231 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 20,000,000 |
| Accounts Payable & Other Liabilities | 1,078,116 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 113,851,067 |
| Regular shares | 196,642,559 |
| All Other Shares & Deposits | 345,062,453 |
| TOTAL SHARES & DEPOSITS | 655,556,079 |
| TOTAL LIABILITIES | 676,634,195 |
| Regular Reserve | 0 |
| Other Reserves | 3,507,665 |
| Undivided Earnings | 54,422,371 |
| TOTAL EQUITY | 57,930,036 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 734,564,231 |
| INCOME & EXPENSE | |
| Loan Income | 29,542,270 |
| Investment Income | 3,889,691 |
| Other Income | 2,512,628 |
| Total Employee Compensation & Benefits | 13,558,481 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,570,955 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,415,677 |
| Cost of Funds | 9,144,451 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,985,182 |
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