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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 34th largest credit union in the state of Maine. It is also the 1,895th largest credit union in the nation. It was established in 1954 and as of December of 2013, it had grown to 21 employees and 7,194 members. Katahdin Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in the Town of Millinocket or municipalities of Stacyville, Sherman Station, Mt. Chase, Patten, Moro, Hersey, Merrill, Smyrna Mills, Dyer Brook, Crystal, Island Falls, Oakfield, Silver Ridge, Sherman Mills or Benedicta. - 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. Katahdin Credit Union has a relatively 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 Katahdin Credit Union had $733,000 in non-current loans and owned real-estate with $8.49 million in equity and loan loss allowances on hand to cover it. This gives Katahdin Credit Union a Texas Ratio of 8.63% 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 Katahdin Credit Union decreased slightly from 11.64% as of December 31, 2012 to 8.63% as of December 31, 2013, resulting in a positive change of 25.87%.This indicates that the balance sheet and financial strength for Katahdin Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
C

In the past year, Katahdin Credit Union has decreased its total deposits by $-755,000, resulting in -1.27% 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 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 $68.73 million in assets with $8.49 million in equity, resulting in a capitalization level of 12.35%, which is excellent.

Institution Statistics

Overall
NCUA #9348
Year Chartered1954
Employees21
Primary Regulator
Assets and Liabilities
Assets$68.73 million
Loans$46.61 million
Deposits$58.61 million
Equity Capital$8.33 million
Loan Loss Allowance$161,000
Unbacked Noncurrent Loans$573,000
Real Estate Owned$160,000
Historic Data - December 2012
Assets$68.54 million
Equity Capital$8.27 million
Loan Loss Allowance$240,000
Unbacked Noncurrent Loans$573,000
Real Estate Owned$176,000
Profit Margin - Quarterly
Net Interest Margin5.17%
Return on Assets0.33%
Return on Equity2.7%
Interest Income$2.84 million
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 Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.00%--Share Draft 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 (Traditional,Roth,CESA)
0.90%$500-48 Month IRA Certificate (Traditional,Roth,CESA)
0.80%$500-36 Month IRA Certificate (Traditional,Roth,CESA)
0.70%$500-24 Month IRA Certificate (Traditional,Roth,CESA)
0.60%$500-18 Month IRA Certificate (Traditional,Roth,CESA)
0.50%$500-12 Month IRA Certificate (Traditional,Roth,CESA)
Locations


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