Dec, 31, 2023 — UNIVERSITY CREDIT UNION is a federally insured state chartered credit union headquartered in ORONO, ME with 8 branch locations and about $480.03 million in total assets. Opened 57 years ago in 1967, UNIVERSITY CREDIT UNION has about 28,766 members and employs 94 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | UNIVERSITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 15 Main St ORONO, ME 04473 |
| Phone: | (207) 889-8600 |
| Fax: | (207) 889-9086 |
| Website: | https://www.ucumaine.com |
| Branches: | 8 branch locations |
| Members: | 28,766 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63133 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $480,028,132 |
| CEO/Manager: | Renee Ouellette |
| Chairperson: | Ency Whitehill |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 31,728,272 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 271,444,036 |
| Unsecured Loans | 31,181,075 |
| Other Loans | 81,937,278 |
| TOTAL LOANS | 384,562,387 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,842,314 |
| Land And Building | 5,320,258 |
| Other Fixed Assets | 1,879,814 |
| NCUSIF Deposit | 3,629,709 |
| All Other Assets | 250 |
| TOTAL ASSETS | 480,028,132 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 73,000,000 |
| Accounts Payable & Other Liabilities | 7,422,001 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 126,537,515 |
| Regular shares | 163,433,930 |
| All Other Shares & Deposits | 70,947,330 |
| TOTAL SHARES & DEPOSITS | 360,918,773 |
| TOTAL LIABILITIES | 441,340,774 |
| Regular Reserve | 0 |
| Other Reserves | -4,855,842 |
| Undivided Earnings | 43,543,200 |
| TOTAL EQUITY | 38,687,358 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 480,028,132 |
| INCOME & EXPENSE | |
| Loan Income | 16,826,051 |
| Investment Income | 1,701,178 |
| Other Income | 1,947,423 |
| Total Employee Compensation & Benefits | 9,304,904 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,304,848 |
| Non-operating Income & (Expense) | 40,084 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 131,498 |
| Cost of Funds | 4,772,537 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,819,738 |
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» See also Statement of Financial Condition