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MAINE SOLUTIONS FEDERAL CREDIT UNION

Mar, 31, 2021 — MAINE SOLUTIONS FEDERAL CREDIT UNION is a federal credit union headquartered in SOUTH PORTLAND, ME with 1 branch location and about $18.36 million in total assets. Opened 55 years ago in 1966, MAINE SOLUTIONS FEDERAL CREDIT UNION has about 1,317 members and employs 3 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 SOLUTIONS FEDERAL CREDIT UNION
Address:
(Main Office)
405 WESTERN AVENUE #515, P.O. BOX 9
SOUTH PORTLAND, ME 04116-9421
Phone:(207) 775-8371
Fax:(207) 761-6235
Website:http://www.mesolutionsfcu.org
Branches:1 branch locations
Members:1,317
Credit Union Type:Federal Credit Union
Charter Number:17436
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1966
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$18,355,959
CEO/Manager:Diana S Garcia
Chairperson:Scott Hopkins

Call Report

  • Overdraft Lines of Credit
  • Real Estate Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,510,473
TOTAL INVESTMENTS 4,619,877
Loans Held for Sale 0
 
 Real Estate Loans 6,914,622
 Unsecured Loans 607,568
 Other Loans 4,459,905
 TOTAL LOANS 11,982,095
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -19,198
 Land And Building 50,261
 Other Fixed Assets 37,598
 NCUSIF Deposit 122,132
 All Other Assets 52,721
  TOTAL ASSETS 18,355,959
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,767
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,883,093
 Regular shares 6,832,099
 All Other Shares & Deposits 6,748,847
  TOTAL SHARES & DEPOSITS 16,464,039
  TOTAL LIABILITIES 16,466,806
 Regular Reserve 223,423
 Other Reserves 0
 Undivided Earnings 1,665,730
  TOTAL EQUITY 1,889,153
  TOTAL LIABILITIES, SHARES, & EQUITY 18,355,959
INCOME & EXPENSE  
 Loan Income 104,922
 Investment Income 16,148
 Other Income 20,160
 Total Employee Compensation & Benefits 75,399
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 66,398
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,136
 Cost of Funds 10,748
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -4,239
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