Dec, 31, 2023 — MAINE STATE CREDIT UNION is a federally insured state chartered credit union headquartered in AUGUSTA, ME with 5 branch locations and about $642.60 million in total assets. Opened 89 years ago in 1935, MAINE STATE CREDIT UNION has about 35,440 members and employs 122 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 STATE CREDIT UNION |
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Address: (Main Office) | 200 Capitol St AUGUSTA, ME 04330-6238 |
Phone: | (207) 623-1851 |
Fax: | |
Website: | https://www.mainestatecu.org |
Branches: | 5 branch locations |
Members: | 35,440 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 63377 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $642,601,616 |
CEO/Manager: | Stephen Wallace |
Chairperson: | Eric Poirier |
ASSETS: | $ Amount |
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Cash & Equivalents | 64,322,043 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 183,608,071 |
Unsecured Loans | 27,975,926 |
Other Loans | 205,653,242 |
TOTAL LOANS | 417,423,892 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,568,261 |
Land And Building | 11,943,709 |
Other Fixed Assets | 2,895,214 |
NCUSIF Deposit | 4,918,457 |
All Other Assets | 27,069 |
TOTAL ASSETS | 642,601,616 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 22,060 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,915,652 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 91,904,780 |
Regular shares | 178,188,406 |
All Other Shares & Deposits | 315,116,991 |
TOTAL SHARES & DEPOSITS | 585,210,177 |
TOTAL LIABILITIES | 588,147,889 |
Regular Reserve | 0 |
Other Reserves | -20,019,879 |
Undivided Earnings | 74,473,606 |
TOTAL EQUITY | 54,453,727 |
TOTAL LIABILITIES, SHARES, & EQUITY | 642,601,616 |
INCOME & EXPENSE | |
Loan Income | 21,860,084 |
Investment Income | 3,199,103 |
Other Income | 1,658,123 |
Total Employee Compensation & Benefits | 10,617,033 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 9,215,255 |
Non-operating Income & (Expense) | -29,409 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,928,021 |
Cost of Funds | 7,021,980 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,449,377 |
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