Dec, 31, 2022 — MAINE STATE CREDIT UNION is a federally insured state chartered credit union headquartered in AUGUSTA, ME with 4 branch locations and about $585.61 million in total assets. Opened 88 years ago in 1935, MAINE STATE CREDIT UNION has about 33,643 members and employs 104 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 |
|---|---|
| Address: (Main Office) | 200 Capitol St AUGUSTA, ME 04330-6238 |
| Phone: | (207) 623-1851 |
| Fax: | |
| Website: | https://www.mainestatecu.org |
| Branches: | 4 branch locations |
| Members: | 33,643 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63377 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $585,608,581 |
| CEO/Manager: | Stephen Wallace |
| Chairperson: | George LaPointe |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 43,314,146 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 155,451,906 |
| Unsecured Loans | 24,324,482 |
| Other Loans | 177,402,766 |
| TOTAL LOANS | 357,375,095 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,487,303 |
| Land And Building | 9,885,573 |
| Other Fixed Assets | 1,519,458 |
| NCUSIF Deposit | 4,686,669 |
| All Other Assets | 262,600 |
| TOTAL ASSETS | 585,608,581 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,941,536 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 93,550,294 |
| Regular shares | 215,255,173 |
| All Other Shares & Deposits | 222,466,071 |
| TOTAL SHARES & DEPOSITS | 531,271,538 |
| TOTAL LIABILITIES | 533,213,074 |
| Regular Reserve | 0 |
| Other Reserves | -19,713,118 |
| Undivided Earnings | 72,108,625 |
| TOTAL EQUITY | 52,395,507 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 585,608,581 |
| INCOME & EXPENSE | |
| Loan Income | 12,886,717 |
| Investment Income | 1,664,785 |
| Other Income | 1,011,095 |
| Total Employee Compensation & Benefits | 6,103,571 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,032,360 |
| Non-operating Income & (Expense) | 32,641 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,304,091 |
| Cost of Funds | 1,895,902 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,324,147 |
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