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LINCOLN MAINE FEDERAL CREDIT UNION

Dec, 31, 2023 — LINCOLN MAINE FEDERAL CREDIT UNION is a federal credit union headquartered in LINCOLN, ME with 2 branch locations and about $117.90 million in total assets. Opened 58 years ago in 1966, LINCOLN MAINE FEDERAL CREDIT UNION has about 6,360 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 211287971
Name:LINCOLN MAINE FEDERAL CREDIT UNION
Address:
(Main Office)
171 W BROADWAY
LINCOLN, ME 04457
Phone:(207) 794-8623
Fax:(207) 794-8187
Website:https://www.lincolnmainefcu.com
Branches:2 branch locations
Members:6,360
Credit Union Type:Federal Credit Union
Charter Number:17362
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1966
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$117,902,940
CEO/Manager:Ryan Reed
Chairperson:CARL GUSTAFSON

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,606,627
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 36,162,498
 Unsecured Loans 3,748,114
 Other Loans 48,559,561
 TOTAL LOANS 88,470,173
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -175,832
 Land And Building 445,830
 Other Fixed Assets 24,092
 NCUSIF Deposit 992,983
 All Other Assets 0
  TOTAL ASSETS 117,902,940
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 943,054
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 17,393,764
 Regular shares 36,919,516
 All Other Shares & Deposits 49,238,210
  TOTAL SHARES & DEPOSITS 103,551,490
  TOTAL LIABILITIES 104,494,544
 Regular Reserve 0
 Other Reserves 3,119
 Undivided Earnings 13,405,277
  TOTAL EQUITY 13,408,396
  TOTAL LIABILITIES, SHARES, & EQUITY 117,902,940
INCOME & EXPENSE  
 Loan Income 4,515,234
 Investment Income 785,858
 Other Income 816,128
 Total Employee Compensation & Benefits 1,865,619
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,487,106
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 88,221
 Cost of Funds 1,743,134
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,195,127
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