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.
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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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.
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.
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.
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.
|Assets and Liabilities|
|Equity Capital||$8.40 million|
|Loan Loss Allowance||$157,000|
|Unbacked Noncurrent Loans||$691,000|
|Real Estate Owned||$100,000|
|Historic Data - March 2013|
|Equity Capital||$8.39 million|
|Loan Loss Allowance||$162,000|
|Unbacked Noncurrent Loans||$691,000|
|Real Estate Owned||$182,000|
|Profit Margin - Quarterly|
|Net Interest Margin||1.26%|
|Return on Assets||0.19%|
|Return on Equity||1.57%|
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|0.50%||$25||-||Roth IRA Share|
|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|
|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|
|Katahdin Credit Union Locations|
|Branch Office||1068 Crystal Rd||Island Falls, ME 04747-4365|
|Branch Office||1000 Central St||Millinocket, ME 04462-2111|