Dec, 31, 2023 — MAINE HIGHLANDS FEDERAL CREDIT UNION is a federal credit union headquartered in DEXTER, ME with 6 branch locations and about $176.94 million in total assets. Opened 58 years ago in 1966, MAINE HIGHLANDS FEDERAL CREDIT UNION has about 14,000 members and employs 57 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 HIGHLANDS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 73 Main St DEXTER, ME 04930 |
| Phone: | (207) 924-5544 |
| Fax: | (207) 924-7527 |
| Website: | https://www.mhfcu.com |
| Branches: | 6 branch locations |
| Members: | 14,000 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 17398 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1966 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $176,935,317 |
| CEO/Manager: | Maria L Wooten |
| Chairperson: | Linda Dulac |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 26,371,504 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 74,665,060 |
| Unsecured Loans | 8,994,567 |
| Other Loans | 40,902,546 |
| TOTAL LOANS | 125,312,458 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -299,781 |
| Land And Building | 5,415,052 |
| Other Fixed Assets | 979,319 |
| NCUSIF Deposit | 1,504,014 |
| All Other Assets | 0 |
| TOTAL ASSETS | 176,935,317 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,767,026 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 29,670,183 |
| Regular shares | 74,082,223 |
| All Other Shares & Deposits | 52,582,664 |
| TOTAL SHARES & DEPOSITS | 156,335,070 |
| TOTAL LIABILITIES | 158,102,096 |
| Regular Reserve | 0 |
| Other Reserves | -117,288 |
| Undivided Earnings | 18,950,509 |
| TOTAL EQUITY | 18,833,221 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 176,935,317 |
| INCOME & EXPENSE | |
| Loan Income | 7,531,658 |
| Investment Income | 1,771,839 |
| Other Income | 796,402 |
| Total Employee Compensation & Benefits | 3,672,954 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,750,703 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 128,811 |
| Cost of Funds | 900,875 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,073,242 |
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» See also Statement of Financial Condition