Dec, 31, 2023 — TOWN & COUNTRY FEDERAL CREDIT UNION is a federal credit union headquartered in SCARBOROUGH, ME with 6 branch locations and about $577.12 million in total assets. Opened 71 years ago in 1953, TOWN & COUNTRY FEDERAL CREDIT UNION has about 39,527 members and employs 113 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TOWN & COUNTRY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 32 Little Dolphin Drive SCARBOROUGH, ME 04074 |
| Phone: | (207) 773-5656 |
| Fax: | (207) 772-3624 |
| Website: | https://www.tcfcu.com |
| Branches: | 6 branch locations |
| Members: | 39,527 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8486 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $577,123,803 |
| CEO/Manager: | David Libby |
| Chairperson: | Jane O Torres |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 30,694,101 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 262,570,915 |
| Unsecured Loans | 35,700,337 |
| Other Loans | 133,186,575 |
| TOTAL LOANS | 431,457,827 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,548,414 |
| Land And Building | 7,727,363 |
| Other Fixed Assets | 6,054,147 |
| NCUSIF Deposit | 4,668,214 |
| All Other Assets | 0 |
| TOTAL ASSETS | 577,123,803 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 30,000,000 |
| Accounts Payable & Other Liabilities | 8,112,479 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 141,478,844 |
| Regular shares | 171,703,302 |
| All Other Shares & Deposits | 188,078,458 |
| TOTAL SHARES & DEPOSITS | 501,260,604 |
| TOTAL LIABILITIES | 539,373,083 |
| Regular Reserve | 0 |
| Other Reserves | -8,921,355 |
| Undivided Earnings | 46,672,075 |
| TOTAL EQUITY | 37,750,720 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 577,123,803 |
| INCOME & EXPENSE | |
| Loan Income | 20,845,829 |
| Investment Income | 3,200,743 |
| Other Income | 4,041,210 |
| Total Employee Compensation & Benefits | 11,209,372 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 11,367,866 |
| Non-operating Income & (Expense) | 9,693 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 647,695 |
| Cost of Funds | 6,360,921 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,751,821 |
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