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Overview / Commentary
207-947-0374
339 Hogan Road
Bangor, ME 04402

Bangor Credit Union is headquartered in Bangor and is the 20th largest credit union in the state of Maine. It is also the 1,266th largest credit union in the nation. It was established in 1956 and as of December of 2013, it had grown to 42 employees and 14,044 members. Bangor Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership with the Bangor Federal Credit Union is open to anyone who lives, works, worships, or attends school in and businesses or other legal entities in Penobscot County, Maine. Also included are un-remarried spouses of persons who die while within the field of membership of this credit union, employees of this credit union, volunteers in the community, members of their immediate family or household, and organizations of such persons. - See Details

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Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Bangor Credit Union had $1.02 million in non-current loans and owned real-estate with $11.41 million in equity and loan loss allowances on hand to cover it. This gives Bangor Credit Union a Texas Ratio of 8.93% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Bangor Credit Union decreased slightly from 12.00% as of December 31, 2012 to 8.93% as of December 31, 2013, resulting in a positive change of 25.61%.This indicates that the balance sheet and financial strength for Bangor Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
A

In the past year, Bangor Credit Union has increased its total deposits by $4.96 million, resulting in 4.48% 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 Bangor Credit Union has shown is excellent.

Capitalization

GRADE:
C

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. Bangor Credit Union has $127.11 million in assets with $11.41 million in equity, resulting in a capitalization level of 8.98%, which is average.

Institution Statistics

Overall
NCUA #10939
Year Chartered1956
Employees42
Primary Regulator
Assets and Liabilities
Assets$127.11 million
Loans$90.05 million
Deposits$115.76 million
Equity Capital$11.04 million
Loan Loss Allowance$375,000
Unbacked Noncurrent Loans$884,000
Real Estate Owned$135,000
Historic Data - December 2012
Assets$121.55 million
Equity Capital$10.36 million
Loan Loss Allowance$322,000
Unbacked Noncurrent Loans$884,000
Real Estate Owned$400,000
Profit Margin - Quarterly
Net Interest Margin4.15%
Return on Assets0.53%
Return on Equity6.15%
Interest Income$4.69 million
Rates
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Bangor Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$25k-IRA Savings
0.25%$25k-Roth IRA Savings
0.25%$25k-CESA Savings
0.10%$25-Savings Account
0.10%--Club Account
0.10%$25-Health Savings Account

Bangor Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$25k-Money Market Account

Bangor Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.46%$100k-5 Year Jumbo CD
1.36%$500-5 Year CD
1.10%$100k-4 Year Jumbo CD
1.00%$500-4 Year CD
0.90%$100k-3 Year Jumbo CD
0.80%$500-3 Year CD
0.70%$100k-30 Month Jumbo CD
0.60%$500-30 Month CD
0.60%$100k-2 Year Jumbo CD
0.50%$500-2 Year CD
0.50%$100k-18 Month Jumbo CD
0.40%$500-18 Month CD
0.40%$100k-1 Year Jumbo CD
0.30%$500-1 Year CD
0.30%$50-1 Year Super Saver CD
0.30%$100k-6 Month Jumbo CD
0.20%$500-6 Month CD
0.20%$100k-3 Month Jumbo CD
0.10%$500-3 Month CD

Bangor Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.36%$500-5 Year IRA (Traditional,Roth,CESA)
1.00%$500-4 Year IRA (Traditional,Roth,CESA)
0.80%$500-3 Year IRA (Traditional,Roth,CESA)
0.60%$500-30 Month IRA (Traditional,Roth,CESA)
0.50%$500-2 Year IRA (Traditional,Roth,CESA)
Locations


Bangor Credit Union Locations
Branch Office601 Hammond StBangor, ME 04401-4513
Branch Office6 Dirigo DrBrewer, ME 04412-1662
Branch Office339 Hogan RdBangor, ME 044014205