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Overview / Commentary
800-804-7555
78 Fox St
Madawaska, ME 04756

Norstate Credit Union is headquartered in Madawaska and is the 13st largest credit union in the state of Maine. It is also the 1,025th largest credit union in the nation. It was established in 1941 and as of December of 2013, it had grown to 62 employees and 13,727 members. Norstate Credit Union's money market rates are 14% higher than the national average, and it has a B health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Aroostook County or Northern Penobscot County. - See Details

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Health

Data for Q4 2013

Institution Health

B

Texas Ratio

GRADE:
C+

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 Norstate Credit Union had $4.66 million in non-current loans and owned real-estate with $20.52 million in equity and loan loss allowances on hand to cover it. This gives Norstate Credit Union a Texas Ratio of 22.69% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for Norstate Credit Union increased slightly from 16.50% as of December 31, 2012 to 22.69% as of December 31, 2013, resulting in a negative change of 37.48%. This indicates that the balance sheet and financial strength for Norstate Credit Union has declined slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Norstate Credit Union has increased its total deposits by $9.64 million, resulting in 7.5% 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 Norstate Credit Union has shown is excellent.

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. Norstate Credit Union has $171.91 million in assets with $20.52 million in equity, resulting in a capitalization level of 11.94%, which is excellent.

Institution Statistics

Overall
NCUA #4261
Year Chartered1941
Employees62
Primary Regulator
Assets and Liabilities
Assets$171.91 million
Loans$142.38 million
Deposits$138.09 million
Equity Capital$20.16 million
Loan Loss Allowance$359,000
Unbacked Noncurrent Loans$3.21 million
Real Estate Owned$1.44 million
Historic Data - December 2012
Assets$156.00 million
Equity Capital$16.82 million
Loan Loss Allowance$362,000
Unbacked Noncurrent Loans$3.21 million
Real Estate Owned$1.48 million
Profit Margin - Quarterly
Net Interest Margin4.28%
Return on Assets0.99%
Return on Equity8.47%
Interest Income$7.58 million
Rates

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

Norstate Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%--Share Savings Account
0.20%--Club Account
0.20%--IRA Account
0.20%--Roth IRA Account
0.20%--Educational IRA Account

Norstate Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.50%$20k-Flex Money Market Account

Norstate Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.00%--Share Draft Checking Account

Norstate Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
2.05%$1k-5 Year Share Certificate
1.55%$1k-4 Year Share Certificate
1.35%$1k-3 Year Share Certificate
1.05%$1k-24 Month Share Certificate
0.75%$1k-18 Month Share Certificate
0.70%$1k-1 Year Share Certificate
0.45%$1k-6 Month Share Certificate

Norstate Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
2.05%$1k-5 Year IRA Certificate (Traditional,Roth,CESA)
1.55%$1k-4 Year IRA Certificate (Traditional,Roth,CESA)
1.35%$1k-3 Year IRA Certificate (Traditional,Roth,CESA)
1.05%$1k-24 Month IRA Certificate (Traditional,Roth,CESA)
0.75%$1k-18 Month IRA Certificate (Traditional,Roth,CESA)
0.70%$1k-1 Year IRA Certificate (Traditional,Roth,CESA)
0.45%$1k-6 Month IRA Certificate (Traditional,Roth,CESA)
Locations


Norstate Credit Union Locations
Branch Office3333 Aroostook RdEagle Lake, ME 04739
Branch Office78 Fox StMadawaska, ME 04756
Branch Office164 Market StFort Kent, ME 04743
Branch Office738 Main StPresque Isle, ME 04769
Branch Office156 Main StVan Buren, ME 04785
Branch Office23 Exchange StAshland, ME 04732