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Blue Cross And Blue Shield Of Me Credit Union

Overview / Commentary
207-822-8500
2 Gannett Dr
South Portland, ME 04106

Blue Cross And Blue Shield Of Me Credit Union is headquartered in South Portland and is the 60th largest credit union in the state of Maine. It is also the 5,115st largest credit union in the nation. It was established in 1957 and as of December of 2013, it had grown to 2 employees and 821 members. Blue Cross And Blue Shield Of Me Credit Union has a B health rating.

Field of Membership Restrictions

No membership eligibility data posted on site. - See Details

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Health

Data for Q4 2013

Institution Health

B
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Blue Cross And Blue Shield Of Me Credit Union has a very low asset base.

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 Blue Cross And Blue Shield Of Me Credit Union had $18,000 in non-current loans and owned real-estate with $1.3 million in equity and loan loss allowances on hand to cover it. This gives Blue Cross And Blue Shield Of Me Credit Union a Texas Ratio of 1.38% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Blue Cross And Blue Shield Of Me Credit Union decreased dramatically from 3.47% as of December 31, 2012 to 1.38% as of December 31, 2013, resulting in a positive change of 60.21%.This indicates that the balance sheet and financial strength for Blue Cross And Blue Shield Of Me Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
C

In the past year, Blue Cross And Blue Shield Of Me Credit Union has decreased its total deposits by $-100,000, resulting in -2.16% 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 Blue Cross And Blue Shield Of Me Credit Union has shown is average.

Capitalization

GRADE:
A+

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. Blue Cross And Blue Shield Of Me Credit Union has $5.8 million in assets with $1.3 million in equity, resulting in a capitalization level of 22.51%, which is excellent.

Institution Statistics

Overall
NCUA #24249
Year Chartered1957
Employees2
Primary Regulator
Assets and Liabilities
Assets$5.80 million
Loans$3.36 million
Deposits$4.52 million
Equity Capital$1.27 million
Loan Loss Allowance$39,000
Unbacked Noncurrent Loans$18,000
Real Estate Owned$0
Historic Data - December 2012
Assets$5.88 million
Equity Capital$1.26 million
Loan Loss Allowance$39,000
Unbacked Noncurrent Loans$18,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.23%
Return on Assets0.1%
Return on Equity0.47%
Interest Income$163,000
Rates
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Blue Cross And Blue Shield Of Me Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--Savings Account
0.10%--Club Account

Blue Cross And Blue Shield Of Me Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.15%--Money Market Account

Blue Cross And Blue Shield Of Me Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.40%--1 Year Share Certificate
0.30%--6 Month Share Certificate
Locations


Blue Cross And Blue Shield Of Me Credit Union Locations
Branch Office2 Gannett DrSouth Portland, ME 04106-6909