Dec, 31, 2023 — FRANKLIN-SOMERSET FEDERAL CREDIT UNION is a federal credit union headquartered in MADISON, ME with 5 branch locations and about $126.90 million in total assets. Opened 62 years ago in 1962, FRANKLIN-SOMERSET FEDERAL CREDIT UNION has about 10,050 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FRANKLIN-SOMERSET FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 114 E MADISON RD MADISON, ME 04950-3027 |
| Phone: | (207) 612-5400 |
| Fax: | (207) 474-0028 |
| Website: | https://www.f-sfcu.com |
| Branches: | 5 branch locations |
| Members: | 10,050 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15159 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $126,901,059 |
| CEO/Manager: | Beverly J Knapp |
| Chairperson: | Brian Lewia |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,328,117 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,078,398 |
| Unsecured Loans | 2,733,159 |
| Other Loans | 42,504,803 |
| TOTAL LOANS | 62,316,360 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -604,963 |
| Land And Building | 870,156 |
| Other Fixed Assets | 170,325 |
| NCUSIF Deposit | 1,100,420 |
| All Other Assets | 0 |
| TOTAL ASSETS | 126,901,059 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 584,855 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 23,749,284 |
| Regular shares | 56,760,177 |
| All Other Shares & Deposits | 29,994,953 |
| TOTAL SHARES & DEPOSITS | 110,504,414 |
| TOTAL LIABILITIES | 111,089,269 |
| Regular Reserve | 0 |
| Other Reserves | 1,132,356 |
| Undivided Earnings | 14,679,434 |
| TOTAL EQUITY | 15,811,790 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 126,901,059 |
| INCOME & EXPENSE | |
| Loan Income | 3,509,035 |
| Investment Income | 1,984,259 |
| Other Income | 1,119,708 |
| Total Employee Compensation & Benefits | 2,114,706 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,193,018 |
| Non-operating Income & (Expense) | 34,033 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 298,000 |
| Cost of Funds | 732,272 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,392,647 |
| ↑ Back to Top | |