Dec, 31, 2023 — BANGOR FEDERAL CREDIT UNION is a federal credit union headquartered in BANGOR, ME with 4 branch locations and about $240.08 million in total assets. Opened 68 years ago in 1956, BANGOR FEDERAL CREDIT UNION has about 15,571 members and employs 45 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BANGOR FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 339 Hogan Rd BANGOR, ME 04401-4205 |
| Phone: | (207) 947-0374 |
| Fax: | (207) 990-0759 |
| Website: | https://www.bangorfederal.com |
| Branches: | 4 branch locations |
| Members: | 15,571 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10939 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $240,079,536 |
| CEO/Manager: | Basil Closson |
| Chairperson: | Robert P Welch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,278,294 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 65,007,752 |
| Unsecured Loans | 7,068,442 |
| Other Loans | 95,771,034 |
| TOTAL LOANS | 167,847,228 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -486,251 |
| Land And Building | 3,295,602 |
| Other Fixed Assets | 2,358,138 |
| NCUSIF Deposit | 2,025,044 |
| All Other Assets | 0 |
| TOTAL ASSETS | 240,079,536 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 664,035 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 34,565,220 |
| Regular shares | 72,712,939 |
| All Other Shares & Deposits | 111,870,553 |
| TOTAL SHARES & DEPOSITS | 219,148,712 |
| TOTAL LIABILITIES | 219,812,747 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 20,266,789 |
| TOTAL EQUITY | 20,266,789 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 240,079,536 |
| INCOME & EXPENSE | |
| Loan Income | 8,022,100 |
| Investment Income | 1,043,668 |
| Other Income | 1,095,184 |
| Total Employee Compensation & Benefits | 3,686,902 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,887,355 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 245,669 |
| Cost of Funds | 2,824,484 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,134,523 |
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