Atlantic Regional Credit Union is headquartered in Brunswick and is the 3rd largest credit union in the state of Maine. It is also the 744th largest credit union in the nation. It was established in 1941 and as of March of 2014, it had grown to 68 employees and 19,006 members. Atlantic Regional Credit Union's savings rates are 92% higher than the national average, and it boasts a A+ health rating.
Membership is open to persons who live, work, worship, or attend school in, and businesses and other legal entities located in the Maine counties of Cumberland and Sagadahoc County. - See Details
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The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Atlantic Regional Credit Union had $1.03 million in non-current loans and owned real-estate with $37.92 million in equity and loan loss allowances on hand to cover it. This gives Atlantic Regional Credit Union a Texas Ratio of 2.72% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Atlantic Regional Credit Union decreased slightly from 3.05% as of March 31, 2013 to 2.72% as of March 31, 2014, resulting in a positive change of 10.68%.This indicates that the balance sheet and financial strength for Atlantic Regional Credit Union has improved slightly in recent periods.
In the past year, Atlantic Regional Credit Union has increased its total deposits by $13.36 million, resulting in 5.94% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Atlantic Regional Credit Union has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Atlantic Regional Credit Union has $276.78 million in assets with $37.92 million in equity, resulting in a capitalization level of 13.70%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$36.69 million|
|Loan Loss Allowance||$1.23 million|
|Unbacked Noncurrent Loans||$407,000|
|Real Estate Owned||$626,000|
|Historic Data - March 2013|
|Equity Capital||$36.13 million|
|Loan Loss Allowance||$1.51 million|
|Unbacked Noncurrent Loans||$407,000|
|Real Estate Owned||$61,000|
|Profit Margin - Quarterly|
|Net Interest Margin||1.1%|
|Return on Assets||0.54%|
|Return on Equity||4.06%|
|Interest Income||$2.50 million|
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|1.00%||-||$10k||Kasasa Saver - Qualifying|
|0.45%||$100k||-||Roth IRA Share|
|0.45%||$100k||-||SEP IRA Share|
|0.30%||$5k||-||Health Savings Account|
|0.10%||$25||-||Rainy Day Club|
|0.05%||-||-||Kasasa Saver - Non Qualifying|
|0.45%||$100k||-||WAVE Money Market Account|
|2.50%||-||$10k||Kasasa Cash - Qualifying|
|0.05%||-||-||Kasasa Cash - Non Qualifying|
|1.50%||$500||-||4 Year Share Certificate|
|1.35%||$500||-||5 Year Step-Up Share Certificate|
|0.90%||$500||-||3 Year Share Certificate|
|0.65%||$500||-||2 Year Share Certificate|
|0.40%||$500||-||12 Month Share Certificate|
|0.40%||$500||-||18 Month Rippling Waves Share Certificate|
|0.25%||$500||-||6 Month Share Certificate|
|0.15%||$100||-||3 Month Share Certificate|
|1.50%||$500||-||4 Year IRA Certificate|
|1.35%||$500||-||5 Year Step-Up IRA Certificate|
|0.90%||$500||-||3 Year IRA Certificate|
|0.65%||$500||-||2 Year IRA Certificate|
|0.40%||$500||-||12 Month IRA Certificate|
|0.40%||$500||-||18 Month Rippling Waves IRA|
|0.25%||$500||-||6 Month IRA Certificate|
|Atlantic Regional Credit Union Locations|
|Branch Office||327 Main ST||Cumberland, ME 04021|
|Branch Office||41 Mallett Dr||Freeport, ME 04032|
|Branch Office||55 Cushing ST||Brunswick, ME 04011|
|Branch Office||3 Union Park RD||Topsham, ME 04086|