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FRANKLIN-SOMERSET FEDERAL CREDIT UNION

Jun, 30, 2021 — FRANKLIN-SOMERSET FEDERAL CREDIT UNION is a federal credit union headquartered in MADISON, ME with 5 branch locations and about $119.50 million in total assets. Opened 59 years ago in 1962, FRANKLIN-SOMERSET FEDERAL CREDIT UNION has about 10,703 members and employs 35 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:http://www.f-sfcu.com
Branches:5 branch locations
Members:10,703
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$119,498,300
CEO/Manager:Beverly J Knapp
Chairperson:Brian Lewia

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 32,853,903
TOTAL INVESTMENTS 29,927,378
Loans Held for Sale 0
 
 Real Estate Loans 19,181,792
 Unsecured Loans 2,634,957
 Other Loans 32,818,772
 TOTAL LOANS 54,635,521
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -486,846
 Land And Building 963,549
 Other Fixed Assets 109,029
 NCUSIF Deposit 950,880
 All Other Assets 544,886
  TOTAL ASSETS 119,498,300
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 546,491
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 21,207,460
 Regular shares 53,914,172
 All Other Shares & Deposits 30,316,863
  TOTAL SHARES & DEPOSITS 105,438,495
  TOTAL LIABILITIES 105,984,986
 Regular Reserve 842,672
 Other Reserves 1,132,356
 Undivided Earnings 11,538,286
  TOTAL EQUITY 13,513,314
  TOTAL LIABILITIES, SHARES, & EQUITY 119,498,300
INCOME & EXPENSE  
 Loan Income 1,614,045
 Investment Income 207,239
 Other Income 529,234
 Total Employee Compensation & Benefits 885,024
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 946,589
 Non-operating Income & (Expense) 2,481
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 30,500
 Cost of Funds 169,762
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 363,976
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