Dec, 31, 2023 — ATLANTIC REGIONAL FEDERAL CREDIT UNION is a federal credit union headquartered in SOUTH PORTLAND, ME with 10 branch locations and about $1.14 billion in total assets. Opened 83 years ago in 1941, ATLANTIC REGIONAL FEDERAL CREDIT UNION has about 48,786 members and employs 191 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ATLANTIC REGIONAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 600 Sable Oaks Dr Ste 100 SOUTH PORTLAND, ME 04106-3292 |
| Phone: | (800) 834-0432 |
| Fax: | |
| Website: | https://atlanticfcu.com |
| Branches: | 10 branch locations |
| Members: | 48,786 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4281 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,144,895,054 |
| CEO/Manager: | Scott Chretien |
| Chairperson: | Thomas Perkins |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 114,487,440 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 518,297,581 |
| Unsecured Loans | 31,485,669 |
| Other Loans | 212,823,902 |
| TOTAL LOANS | 770,793,021 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,133,530 |
| Land And Building | 39,094,356 |
| Other Fixed Assets | 2,456,085 |
| NCUSIF Deposit | 8,610,996 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,144,895,054 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 120,000,000 |
| Accounts Payable & Other Liabilities | 10,066,848 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 245,358,797 |
| Regular shares | 308,512,858 |
| All Other Shares & Deposits | 369,729,724 |
| TOTAL SHARES & DEPOSITS | 923,601,379 |
| TOTAL LIABILITIES | 1,053,668,227 |
| Regular Reserve | 0 |
| Other Reserves | 16,016,193 |
| Undivided Earnings | 75,210,634 |
| TOTAL EQUITY | 91,226,827 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,144,895,054 |
| INCOME & EXPENSE | |
| Loan Income | 37,581,909 |
| Investment Income | 7,763,885 |
| Other Income | 5,290,013 |
| Total Employee Compensation & Benefits | 18,675,975 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 17,411,795 |
| Non-operating Income & (Expense) | -18,988 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,524,000 |
| Cost of Funds | 17,143,839 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,059,183 |
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