Dec, 31, 2023 — PEOPLESCHOICE CREDIT UNION is a federally insured state chartered credit union headquartered in SACO, ME with 4 branch locations and about $356.30 million in total assets. Opened 61 years ago in 1963, PEOPLESCHOICE CREDIT UNION has about 20,637 members and employs 62 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PEOPLESCHOICE CREDIT UNION |
|---|---|
| Address: (Main Office) | 23 Industrial Park Rd SACO, ME 04072-1804 |
| Phone: | (207) 282-4156 |
| Fax: | (207) 284-2447 |
| Website: | https://www.peopleschoicecreditunion.com/ |
| Branches: | 4 branch locations |
| Members: | 20,637 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68442 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $356,302,662 |
| CEO/Manager: | Luke A Labbe |
| Chairperson: | Lisa Parker |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,876,651 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 148,118,410 |
| Unsecured Loans | 19,897,881 |
| Other Loans | 100,083,496 |
| TOTAL LOANS | 268,099,787 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,465,655 |
| Land And Building | 6,186,896 |
| Other Fixed Assets | 885,764 |
| NCUSIF Deposit | 2,848,250 |
| All Other Assets | 29,920 |
| TOTAL ASSETS | 356,302,662 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 9,578,067 |
| Accounts Payable & Other Liabilities | 953,928 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 56,190,193 |
| Regular shares | 96,361,091 |
| All Other Shares & Deposits | 175,470,141 |
| TOTAL SHARES & DEPOSITS | 328,021,425 |
| TOTAL LIABILITIES | 338,553,420 |
| Regular Reserve | 0 |
| Other Reserves | -8,249,550 |
| Undivided Earnings | 25,998,792 |
| TOTAL EQUITY | 17,749,242 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 356,302,662 |
| INCOME & EXPENSE | |
| Loan Income | 14,197,053 |
| Investment Income | 1,697,876 |
| Other Income | 909,733 |
| Total Employee Compensation & Benefits | 6,365,254 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,044,472 |
| Non-operating Income & (Expense) | 124,956 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,025,000 |
| Cost of Funds | 4,470,530 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,907,653 |
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