Dec, 31, 2022 — UNIVERSITY CREDIT UNION is a federally insured state chartered credit union headquartered in ORONO, ME with 7 branch locations and about $455.00 million in total assets. Opened 56 years ago in 1967, UNIVERSITY CREDIT UNION has about 28,462 members and employs 89 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: | 7 branch locations |
| Members: | 28,462 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $455,004,910 |
| CEO/Manager: | Renee Ouellette |
| Chairperson: | Ency Whitehill |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 14,754,837 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 268,425,653 |
| Unsecured Loans | 28,528,461 |
| Other Loans | 86,508,769 |
| TOTAL LOANS | 383,462,883 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,905,823 |
| Land And Building | 5,384,553 |
| Other Fixed Assets | 1,449,954 |
| NCUSIF Deposit | 3,614,406 |
| All Other Assets | 35,000 |
| TOTAL ASSETS | 455,004,910 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 22,500,000 |
| Accounts Payable & Other Liabilities | 5,044,361 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 140,601,886 |
| Regular shares | 196,483,615 |
| All Other Shares & Deposits | 55,345,929 |
| TOTAL SHARES & DEPOSITS | 392,431,430 |
| TOTAL LIABILITIES | 419,975,791 |
| Regular Reserve | 0 |
| Other Reserves | -5,700,224 |
| Undivided Earnings | 40,729,343 |
| TOTAL EQUITY | 35,029,119 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 455,004,910 |
| INCOME & EXPENSE | |
| Loan Income | 10,664,898 |
| Investment Income | 869,066 |
| Other Income | 1,401,669 |
| Total Employee Compensation & Benefits | 6,666,877 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,783,956 |
| Non-operating Income & (Expense) | -1,111 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 112,652 |
| Cost of Funds | 698,457 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,091,714 |
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