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Overview / Commentary
800-273-6700
P.O. Box 347
Hampden, ME 04444

Maine Savings Credit Union is headquartered in HAMPDEN and is the 4th largest credit union in the state of Maine. It is also the 747th largest credit union in the nation. It was established in 1961 and as of December of 2013, it had grown to 83 employees and 26,399 members. Maine Savings Credit Union has a A health rating.

Field of Membership Restrictions

Must work in one of the Select Employee Groups. - See Details

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Health

Data for Q4 2013

Institution Health

A

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 Maine Savings Credit Union had $944,000 in non-current loans and owned real-estate with $23.08 million in equity and loan loss allowances on hand to cover it. This gives Maine Savings Credit Union a Texas Ratio of 4.09% 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 Maine Savings Credit Union decreased dramatically from 8.28% as of December 31, 2012 to 4.09% as of December 31, 2013, resulting in a positive change of 50.63%.This indicates that the balance sheet and financial strength for Maine Savings Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, Maine Savings Credit Union has increased its total deposits by $7.98 million, resulting in 3.44% 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 Maine Savings Credit Union has shown is excellent.

Capitalization

GRADE:
C

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. Maine Savings Credit Union has $265.58 million in assets with $23.08 million in equity, resulting in a capitalization level of 8.69%, which is average.

Institution Statistics

Overall
NCUA #14565
Year Chartered1961
Employees83
Primary Regulator
Assets and Liabilities
Assets$265.58 million
Loans$198.63 million
Deposits$239.79 million
Equity Capital$22.25 million
Loan Loss Allowance$832,000
Unbacked Noncurrent Loans$548,000
Real Estate Owned$396,000
Historic Data - December 2012
Assets$253.95 million
Equity Capital$20.88 million
Loan Loss Allowance$885,000
Unbacked Noncurrent Loans$548,000
Real Estate Owned$248,000
Profit Margin - Quarterly
Net Interest Margin3.42%
Return on Assets0.52%
Return on Equity6.15%
Interest Income$9.41 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Maine Savings Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Maine Savings Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%--Health Savings Share Draft Account
0.10%--Regular Shares
0.10%--Floating IRA
0.10%--Holiday Club
0.10%--Design Your Own Club

Maine Savings Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$50k-Insured Money Market

Maine Savings Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.00%--Basic Checking (Shared Draft) Account

Maine Savings Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.56%$500-5 Year CD
1.26%$500-4 Year CD
0.95%$500-3 Year CD
0.65%$500-2 Year CD
0.50%$500-18 Month CD
0.35%$500-1 Year CD
0.25%$500-6 Month CD

Maine Savings Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.56%$500-5 Year IRA
1.26%$500-4 Year IRA
0.95%$500-3 Year IRA
0.65%$500-2 Year IRA
0.50%$500-18 Month IRA
0.35%$500-1 Year IRA
Locations


Maine Savings Credit Union Locations
Branch Office500 Main StCorinth, ME 04427
Branch Office25 Resort WayEllsworth, ME 04605
Branch Office122 Park StMilo, ME 04463-1740
Branch OfficeTwin City Plaza 280 State StBrewer, ME 04412-1519
Branch Office912 Main StVassalboro, ME 04989-3120
Branch Office671 BroadwayBangor, ME 04401
Branch Office868 Hammond StBangor, ME 044014328
Branch Office101 Western AveHampden, ME 04444
Branch Office600 Main StBar Harbor, ME 04609-1523