Eastmill Credit Union is headquartered in East Millinocket and is the 35th largest credit union in the state of Maine. It is also the 2,078th largest credit union in the nation. It was established in 1954 and as of March of 2014, it had grown to 10 employees and 4,154 members. Eastmill Credit Union's savings rates are 92% higher than the national average, and it has a A health rating.
The field of membership for Eastmill Federal Credit Union includes those individuals who reside, work or worship in Penobscot County, Katahdin Paper Company in East Millinocket; Also included in our field of membership are those who reside, work, worship or attend school in Sherman, Stacyville, Patten, and Island Falls and all relatives of these common bond groups, regardless of place of residence. As well as individuals, the Credit Union also serves businesses and organizations within our field of membership. - 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 Eastmill Credit Union had $20,000 in non-current loans and owned real-estate with $11.11 million in equity and loan loss allowances on hand to cover it. This gives Eastmill Credit Union a Texas Ratio of 0.18% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Eastmill Credit Union decreased dramatically from 0.26% as of March 31, 2013 to 0.18% as of March 31, 2014, resulting in a positive change of 31.99%.This indicates that the balance sheet and financial strength for Eastmill Credit Union has improved dramatically in recent periods.
In the past year, Eastmill Credit Union has increased its total deposits by $1.23 million, resulting in 2.53% 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 Eastmill Credit Union has shown is above average.
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. Eastmill Credit Union has $60.73 million in assets with $11.11 million in equity, resulting in a capitalization level of 18.29%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$11.06 million|
|Loan Loss Allowance||$44,000|
|Unbacked Noncurrent Loans||$20,000|
|Real Estate Owned||$0|
|Historic Data - March 2013|
|Equity Capital||$10.90 million|
|Loan Loss Allowance||$57,000|
|Unbacked Noncurrent Loans||$20,000|
|Real Estate Owned||$20,000|
|Profit Margin - Quarterly|
|Net Interest Margin||1.17%|
|Return on Assets||0.29%|
|Return on Equity||1.59%|
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|1.00%||$1k||-||60 Month Share Certificate|
|0.90%||$1k||-||48 Month Share Certificate|
|0.80%||$1k||-||36 Month Share Certificate|
|0.70%||$1k||-||24 Month Share Certificate|
|0.60%||$1k||-||18 Month Share Certificate|
|0.50%||$1k||-||12 Month Share Certificate|
|0.50%||$1k||-||15 Month Share Certificate|
|0.40%||$1k||-||6 Month Share Certificate|
|0.40%||$1k||-||9 Month Share Certificate|
|0.30%||$1k||-||3 Month Share Certificate|
|1.00%||$1k||-||60 Month IRA Certificate|
|0.90%||$1k||-||48 Month IRA Certificate|
|0.80%||$1k||-||36 Month IRA Certificate|
|0.70%||$1k||-||24 Month IRA Certificate|
|0.60%||$1k||-||18 Month IRA Certificate|
|0.50%||$1k||-||12 Month IRA Certificate|
|0.50%||$1k||-||15 Month IRA Certificate|
|0.40%||$1k||-||6 Month IRA Certificate|
|0.40%||$1k||-||9 Month IRA Certificate|
|0.30%||$1k||-||3 Month IRA Certificate|
|Eastmill Credit Union Locations|
|Branch Office||4 Main St||Patten, ME 04765-3105|
|Branch Office||60 Main St||East Millinocket, ME 044301128|
|Branch Office||2 Ledgeview Dr||Westbrook, ME 04092-3939|
|Branch Office||95 Park St||Lewiston, ME 04240-7282|