Dec, 31, 2022 — MAINE SAVINGS FEDERAL CREDIT UNION is a federal credit union headquartered in HAMPDEN, ME with 11 branch locations and about $587.81 million in total assets. Opened 62 years ago in 1961, MAINE SAVINGS FEDERAL CREDIT UNION has about 34,770 members and employs 132 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: | 34,770 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $587,811,305 |
| CEO/Manager: | John Reed |
| Chairperson: | Donald Grant |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 40,638,628 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 272,592,949 |
| Unsecured Loans | 28,978,112 |
| Other Loans | 157,594,696 |
| TOTAL LOANS | 461,625,070 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,188,378 |
| Land And Building | 10,043,293 |
| Other Fixed Assets | 1,140,050 |
| NCUSIF Deposit | 4,618,306 |
| All Other Assets | 248 |
| TOTAL ASSETS | 587,811,305 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -1,867,323 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 117,770,895 |
| Regular shares | 235,022,241 |
| All Other Shares & Deposits | 185,905,510 |
| TOTAL SHARES & DEPOSITS | 538,698,646 |
| TOTAL LIABILITIES | 536,831,323 |
| Regular Reserve | 0 |
| Other Reserves | 3,507,665 |
| Undivided Earnings | 47,472,317 |
| TOTAL EQUITY | 50,979,982 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 587,811,305 |
| INCOME & EXPENSE | |
| Loan Income | 13,934,832 |
| Investment Income | 1,144,966 |
| Other Income | 1,718,763 |
| Total Employee Compensation & Benefits | 6,787,441 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 7,342,954 |
| Non-operating Income & (Expense) | -65 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 2,530,930 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,446,115 |
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