Dec, 31, 2022 — FRANKLIN-SOMERSET FEDERAL CREDIT UNION is a federal credit union headquartered in MADISON, ME with 5 branch locations and about $130.45 million in total assets. Opened 61 years ago in 1962, FRANKLIN-SOMERSET FEDERAL CREDIT UNION has about 10,378 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FRANKLIN-SOMERSET FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 114 E MADISON RD MADISON, ME 04950-3027 |
| Phone: | (207) 612-5400 |
| Fax: | (207) 474-0028 |
| Website: | https://www.f-sfcu.com |
| Branches: | 5 branch locations |
| Members: | 10,378 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15159 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Sep 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $130,451,989 |
| CEO/Manager: | Beverly J Knapp |
| Chairperson: | Brian Lewia |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 23,906,838 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 18,048,122 |
| Unsecured Loans | 2,498,074 |
| Other Loans | 35,702,405 |
| TOTAL LOANS | 56,248,601 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -378,080 |
| Land And Building | 988,184 |
| Other Fixed Assets | 282,940 |
| NCUSIF Deposit | 1,047,567 |
| All Other Assets | 0 |
| TOTAL ASSETS | 130,451,989 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,076,573 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 24,397,189 |
| Regular shares | 60,514,335 |
| All Other Shares & Deposits | 30,246,002 |
| TOTAL SHARES & DEPOSITS | 115,157,526 |
| TOTAL LIABILITIES | 116,234,099 |
| Regular Reserve | 0 |
| Other Reserves | 1,132,356 |
| Undivided Earnings | 13,085,534 |
| TOTAL EQUITY | 14,217,890 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 130,451,989 |
| INCOME & EXPENSE | |
| Loan Income | 2,176,677 |
| Investment Income | 500,153 |
| Other Income | 823,533 |
| Total Employee Compensation & Benefits | 1,352,296 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,571,522 |
| Non-operating Income & (Expense) | 64,718 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 25,000 |
| Cost of Funds | 239,038 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 436,882 |
| ↑ Back to Top | |