Dec, 31, 2023 — MAINE SOLUTIONS FEDERAL CREDIT UNION is a federal credit union headquartered in SOUTH PORTLAND, ME with 1 branch location and about $21.06 million in total assets. Opened 58 years ago in 1966, MAINE SOLUTIONS FEDERAL CREDIT UNION has about 1,319 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) | 209 Western Ave Unit B SOUTH PORTLAND, ME 04106 |
| Phone: | (207) 775-8371 |
| Fax: | (207) 761-6235 |
| Website: | https://www.mesolutionsfcu.org |
| Branches: | 1 branch locations |
| Members: | 1,319 |
| 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, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $21,060,846 |
| CEO/Manager: | Diana S Garcia |
| Chairperson: | Scott Hopkins |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 964,782 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 7,631,956 |
| Unsecured Loans | 565,783 |
| Other Loans | 4,036,052 |
| TOTAL LOANS | 12,233,791 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,474 |
| Land And Building | 28,463 |
| Other Fixed Assets | 23,491 |
| NCUSIF Deposit | 183,149 |
| All Other Assets | 0 |
| TOTAL ASSETS | 21,060,846 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,534 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,631,634 |
| Regular shares | 6,360,592 |
| All Other Shares & Deposits | 10,105,128 |
| TOTAL SHARES & DEPOSITS | 19,097,354 |
| TOTAL LIABILITIES | 19,100,888 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,959,958 |
| TOTAL EQUITY | 1,959,958 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 21,060,846 |
| INCOME & EXPENSE | |
| Loan Income | 493,525 |
| Investment Income | 213,412 |
| Other Income | 78,008 |
| Total Employee Compensation & Benefits | 322,514 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 261,256 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,655 |
| Cost of Funds | 180,996 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 35,434 |
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