Dec, 31, 2023 — TRUCHOICE FEDERAL CREDIT UNION is a federal credit union headquartered in SOUTH PORTLAND, ME with 3 branch locations and about $225.68 million in total assets. Opened 69 years ago in 1955, TRUCHOICE FEDERAL CREDIT UNION has about 12,716 members and employs 49 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | TRUCHOICE FEDERAL CREDIT UNION |
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Address: (Main Office) | 332 Cummings Rd SOUTH PORTLAND, ME 04106 |
Phone: | (207) 772-0808 |
Fax: | (207) 772-8683 |
Website: | https://www.trufcu.com |
Branches: | 3 branch locations |
Members: | 12,716 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 10100 |
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Membership Type: | Community - Rural District |
Corporate Credit Union: | No |
Year Opened: | 1955 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $225,682,937 |
CEO/Manager: | KENNETH B ACKER |
Chairperson: | Joseph Winschel |
ASSETS: | $ Amount |
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Cash & Equivalents | 5,150,617 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 332,500 |
Real Estate Loans | 112,312,427 |
Unsecured Loans | 32,300,753 |
Other Loans | 59,926,232 |
TOTAL LOANS | 204,539,412 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,134,535 |
Land And Building | 3,482,785 |
Other Fixed Assets | 530,308 |
NCUSIF Deposit | 1,923,875 |
All Other Assets | 6,905 |
TOTAL ASSETS | 225,682,937 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 3,000,000 |
Accounts Payable & Other Liabilities | 752,334 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 34,841,907 |
Regular shares | 72,221,372 |
All Other Shares & Deposits | 96,360,097 |
TOTAL SHARES & DEPOSITS | 203,423,375 |
TOTAL LIABILITIES | 207,175,709 |
Regular Reserve | 0 |
Other Reserves | -2,133,149 |
Undivided Earnings | 20,640,377 |
TOTAL EQUITY | 18,507,228 |
TOTAL LIABILITIES, SHARES, & EQUITY | 225,682,937 |
INCOME & EXPENSE | |
Loan Income | 11,122,465 |
Investment Income | 312,323 |
Other Income | 1,384,219 |
Total Employee Compensation & Benefits | 4,829,032 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 4,416,034 |
Non-operating Income & (Expense) | 224,884 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,028,061 |
Cost of Funds | 3,149,720 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,615,367 |
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