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Overview / Commentary
800-540-8707
200 Capitol St
Augusta, ME 04330-6238

Maine State Credit Union is headquartered in Augusta and is the largest credit union in the state of Maine. It is also the 617st largest credit union in the nation. It was established in 1935 and as of March of 2014, it had grown to 73 employees and 25,049 members. Maine State Credit Union has a A health rating.

Field of Membership Restrictions

The following people are eligible to join Maine State CU: •Anyone who lives, works, worships, or attends school in Kennebec County or Somerset County •Maine State Employees •Employees of the Maine State Employees' Association Cumberland County Employees •Maine Housing Authority Employees Members of the Maine Association of Retirees •Employees of the Maine Technical College System Maine State Retirement System Employees •Retirees of groups listed above, any individual who is receiving a Maine State retirement pension, and their immediate family* or household members2. - See Details

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Reviews (1)

Advantage Checking Rate Cut To 2% 2/1/12

So says the MSR who opened my account on Thursday. Of course she told me this AFTER I had filled out the paperwork and fully funded the account. At least the 25k cap is still in place...



Health

Data for Q1 2014

Institution Health

A

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 Maine State Credit Union had $1.41 million in non-current loans and owned real-estate with $42.16 million in equity and loan loss allowances on hand to cover it. This gives Maine State Credit Union a Texas Ratio of 3.34% 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 Maine State Credit Union experienced no significant changes from 2.32% as of March 31, 2013 to 3.34% as of March 31, 2014, resulting in a negative change of 43.93%. This indicates that the balance sheet and financial strength for Maine State Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Maine State Credit Union has decreased its total deposits by $-149,000, resulting in -0.05% 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 State 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. Maine State Credit Union has $353.24 million in assets with $42.16 million in equity, resulting in a capitalization level of 11.93%, which is excellent.

Institution Statistics

Overall
NCUA #63377
Year Chartered1935
Employees73
Primary Regulator
Assets and Liabilities
Assets$353.24 million
Loans$158.41 million
Deposits$309.12 million
Equity Capital$40.97 million
Loan Loss Allowance$1.19 million
Unbacked Noncurrent Loans$1.41 million
Real Estate Owned$0
Historic Data - March 2013
Assets$353.88 million
Equity Capital$41.38 million
Loan Loss Allowance$814,000
Unbacked Noncurrent Loans$1.41 million
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.46%
Return on Equity3.94%
Interest Income$2.96 million
Rates

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

Maine State Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%--IRA Share Savings
0.50%--CESA Share Savings
0.50%--Roth IRA Share Savings
0.50%--HSA Account
0.15%$25-Share Savings
0.15%--Vacation Club Account
0.15%--Christmas Club Account

Maine State Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.45%$100k-Money Market Account

Maine State Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.50%-$10kAdvantage Checking - Qualifying
0.05%--Advantage Checking - Non Qualifying

Maine State Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.65%$500-5 Year Share Certificate
1.65%$250-5 Year Youth Certificate
1.30%$500-4 Year Share Certificate
1.30%$250-4 Year Youth Certificate
1.05%$500-3 Year Share Certificate
1.05%$250-3 Year Youth Certificate
0.80%$500-2 Year Share Certificate
0.80%$250-2 Year Youth Certificate
0.50%$500-1 Year Share Certificate
0.50%$250-1 Year Youth Certificate
0.35%$500-6 Month Share Certificate
0.35%$250-6 Month Youth Certificate

Maine State Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.65%$500-5 Year IRA
1.30%$500-4 Year IRA
1.05%$500-3 Year IRA
0.80%$500-2 Year IRA
0.50%$500-1 Year IRA
0.35%$500-6 Month IRA
Locations


Maine State Credit Union Locations
Branch Office200 Capitol StAugusta, ME 04330-6238
Branch Office162 Hospital StAugusta, ME 04330-0705
Branch Office81 Grove StWaterville, ME 04901-5826