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Overview / Commentary
800-451-9145
1000 Central Street
Millinocket, ME 04462

Katahdin Credit Union is headquartered in Millinocket and is the 33rd largest credit union in the state of Maine. It is also the 1,948th largest credit union in the nation. It was established in 1954 and as of March of 2014, it had grown to 21 employees and 7,185 members. Katahdin Credit Union has a B health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in, and businesses and other legal entities located in Penobscot County or Piscataquis County, or the towns of Amity, Bancroft, Cary Plantation, Crystal, Dyer Brook, Glenwood Plantation, Haynesville, Hersey, Hodgdon, Houlton, Island Falls, Linneus, Littleton, Macwahoc Plantatin, Merrill, Moro Plantation, New Limerick, Oakfield, Orient, Reed Plantation, Sherman, Smyrna Mills, South Aroostook Unorganized Territories, or Weston. - See Details

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Health

Data for Q1 2014

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. Katahdin Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
A

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 Katahdin Credit Union had $791,000 in non-current loans and owned real-estate with $8.55 million in equity and loan loss allowances on hand to cover it. This gives Katahdin Credit Union a Texas Ratio of 9.25% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Katahdin Credit Union experienced no significant changes from 8.23% as of March 31, 2013 to 9.25% as of March 31, 2014, resulting in a negative change of 12.40%. This indicates that the balance sheet and financial strength for Katahdin Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Katahdin Credit Union has decreased its total deposits by -$2 million, resulting in -3.28% 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 Katahdin Credit Union has shown is below 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. Katahdin Credit Union has $67.89 million in assets with $8.55 million in equity, resulting in a capitalization level of 12.60%, which is excellent.

Institution Statistics

Overall
NCUA #9348
Year Chartered1954
Employees21
Primary Regulator
Assets and Liabilities
Assets$67.89 million
Loans$47.04 million
Deposits$58.84 million
Equity Capital$8.40 million
Loan Loss Allowance$157,000
Unbacked Noncurrent Loans$691,000
Real Estate Owned$100,000
Historic Data - March 2013
Assets$70.09 million
Equity Capital$8.39 million
Loan Loss Allowance$162,000
Unbacked Noncurrent Loans$691,000
Real Estate Owned$182,000
Profit Margin - Quarterly
Return on Assets0.19%
Return on Equity1.57%
Interest Income$677,000
Rates
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Katahdin Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%$25-IRA Share
0.50%$25-Roth IRA Share
0.50%$25-CESA Share
0.25%$25k-Share Savings
0.25%$25k-Club Account

Katahdin Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.11%$500-60 Month Share Certificate
0.90%$500-48 Month Share Certificate
0.80%$500-36 Month Share Certificate
0.70%$500-24 Month Share Certificate
0.60%$500-18 Month Share Certificate
0.50%$500-12 Month Share Certificate
0.40%$500-9 Month Share Certificate
0.30%$500-6 Month Share Certificate
0.20%$500-3 Month Share Certificate

Katahdin Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.11%$500-60 Month IRA Certificate
0.90%$500-48 Month IRA Certificate
0.80%$500-36 Month IRA Certificate
0.70%$500-24 Month IRA Certificate
0.60%$500-18 Month IRA Certificate
0.50%$500-12 Month IRA Certificate
Locations


Katahdin Credit Union Locations
Branch Office1068 Crystal RdIsland Falls, ME 04747-4365
Branch Office1000 Central StMillinocket, ME 04462-2111