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 |
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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 |
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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 |
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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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