Dec, 31, 2023 — FRANKLIN-SOMERSET FEDERAL CREDIT UNION is a federal credit union headquartered in MADISON, ME with 5 branch locations and about $126.90 million in total assets. Opened 62 years ago in 1962, FRANKLIN-SOMERSET FEDERAL CREDIT UNION has about 10,050 members and employs 34 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 |
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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: | 10,050 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15159 |
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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, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $126,901,059 |
CEO/Manager: | Beverly J Knapp |
Chairperson: | Brian Lewia |
ASSETS: | $ Amount |
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Cash & Equivalents | 16,328,117 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 17,078,398 |
Unsecured Loans | 2,733,159 |
Other Loans | 42,504,803 |
TOTAL LOANS | 62,316,360 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -604,963 |
Land And Building | 870,156 |
Other Fixed Assets | 170,325 |
NCUSIF Deposit | 1,100,420 |
All Other Assets | 0 |
TOTAL ASSETS | 126,901,059 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 584,855 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 23,749,284 |
Regular shares | 56,760,177 |
All Other Shares & Deposits | 29,994,953 |
TOTAL SHARES & DEPOSITS | 110,504,414 |
TOTAL LIABILITIES | 111,089,269 |
Regular Reserve | 0 |
Other Reserves | 1,132,356 |
Undivided Earnings | 14,679,434 |
TOTAL EQUITY | 15,811,790 |
TOTAL LIABILITIES, SHARES, & EQUITY | 126,901,059 |
INCOME & EXPENSE | |
Loan Income | 3,509,035 |
Investment Income | 1,984,259 |
Other Income | 1,119,708 |
Total Employee Compensation & Benefits | 2,114,706 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,193,018 |
Non-operating Income & (Expense) | 34,033 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 298,000 |
Cost of Funds | 732,272 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,392,647 |
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