Dec, 31, 2020 — MAINE SAVINGS FEDERAL CREDIT UNION is a federal credit union headquartered in Hampden, ME with 11 branch locations and about $513.28 million in total assets. Opened 60 years ago in 1961, MAINE SAVINGS FEDERAL CREDIT UNION has about 31,125 members and employs 120 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) | PO Box 347 Hampden, ME 04444 |
| Phone: | (207) 862-6500 |
| Fax: | (207) 862-6502 |
| Website: | http://www.mainesavings.com |
| Branches: | 11 branch locations |
| Members: | 31,125 |
| 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, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $513,281,296 |
| CEO/Manager: | John Reed |
| Chairperson: | Donald Grant |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 95,219,372 |
| TOTAL INVESTMENTS | 25,484,219 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 233,070,277 |
| Unsecured Loans | 27,114,673 |
| Other Loans | 104,348,005 |
| TOTAL LOANS | 366,063,148 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,520,621 |
| Land And Building | 12,186,980 |
| Other Fixed Assets | 949,483 |
| NCUSIF Deposit | 3,991,870 |
| All Other Assets | 10,906,845 |
| TOTAL ASSETS | 513,281,296 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 6,000,000 |
| Accounts Payable & Other Liabilities | 3,072,723 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 94,404,921 |
| Regular shares | 174,269,081 |
| All Other Shares & Deposits | 190,931,048 |
| TOTAL SHARES & DEPOSITS | 459,605,050 |
| TOTAL LIABILITIES | 468,677,773 |
| Regular Reserve | 3,507,665 |
| Other Reserves | 0 |
| Undivided Earnings | 41,095,858 |
| TOTAL EQUITY | 44,603,523 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 513,281,296 |
| INCOME & EXPENSE | |
| Loan Income | 16,837,927 |
| Investment Income | 822,927 |
| Other Income | 10,522,535 |
| Total Employee Compensation & Benefits | 10,027,098 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,664,528 |
| Non-operating Income & (Expense) | 751,079 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 466,350 |
| Cost of Funds | 4,745,764 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,030,728 |
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