5 star ratingAverage User Rating:
5 star rating based on 1 review.

Ocean Communities Federal Credit Union

Ocean Communities Federal Credit Union Locations
One Pool Street P.O. Box 1961
Biddeford, ME 04005-1961
(800) 418-1486
www.oceancommunities.com

Ocean Communities Federal Credit Union is headquartered in Biddeford and is the 14st largest credit union in the state of Maine. It is also the 1,108th largest credit union in the nation. It was established in 1948 and as of December of 2011, it had grown to 49 employees and 11,686 members. Ocean Communities Federal Credit Union's savings rates are 94% higher than the national average, and it has a 4-star health rating.

Related Posts

Ocean Communities FCU Dropping Kasasa Cash Rate From 3.51 To 3.01, Kasasa Savings Rate From 1.76 To 1.25 Effective 2/1/2011 (Forum) - 1/7/2011

1/7/2011 10:07:43 AM  IMPORTANT NOTICE TO OUR KASASA ACCOUNT HOLDERS As you know, market interest rates for both loans and deposits are continuing at extremely low levels and, according to the Federal Reserve Open Market Committee, will likely rem

Kasasa Saver Rate Drop (Forum) - 9/17/2010

Kasasa Cash UNCHANGED @ 3.51% up to $10,000  :-) Kasasa Saver dropping from 2.51% to 1.76% (up to $50,000), October 1st.

IMPORTANT NOTICE TO OUR KASASA ACCOUNT HOLDERS Since October 2008 (Forum) - 5/27/2010

IMPORTANT NOTICE TO OUR KASASA ACCOUNT HOLDERS Since October 2008, when Ocean Communities introduced OceanStar Checking to its members, we have remained dedicated to paying the best rates in our market on your free checking account. The great rates

Ocean Communities FCU Is Instituting Changes To Its Rewards Checking Account Effective Feb (Forum) - 1/25/2010

Ocean Communities FCU is instituting changes to its Rewards Checking account effective Feb. 1... January 25, 2010       Dear OceanStar Checking Member:   Your free, high-interest checking will have a new name beginning

2008




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See Rates for: Checking | Savings | Money Market | CD | IRA

Ocean Communities Federal Credit Union Checking Account Rates

ApyMinMaxProduct
2.01%-$10kKasasa Cash

Ocean Communities Federal Credit Union Savings Account Rates

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1.01%-$50kKasasa Saver
0.25%--Passbook IRA
0.25%--Passbook Roth IRA
0.25%--Passbook CESA
0.10%$250-Share Accounts
0.10%--Marty Moose
0.10%--Student Plus
0.10%--Clubs

Ocean Communities Federal Credit Union Money Market Rates

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0.40%$100k-Money Market Account

Ocean Communities Federal Credit Union CD Rates

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2.00%$500-5 Year CD
1.75%$500-4 Year CD
1.50%$500-3 Year CD
1.00%$500-2 Year CD
0.65%$500-1 Year CD
0.45%$500-6 Month CD

Ocean Communities Federal Credit Union IRA Rates

ApyMinMaxProduct
2.00%$500-5 Year IRA
2.00%$500-5 Year Roth IRA
2.00%$500-5 Year CESA
1.75%$500-4 Year IRA
1.75%$500-4 Year Roth IRA
1.75%$500-4 Year CESA
1.50%$500-3 Year IRA
1.50%$500-3 Year Roth IRA
1.50%$500-3 Year CESA
1.00%$500-2 Year IRA
1.00%$500-2 Year Roth IRA
1.00%$500-2 Year CESA
0.65%$500-1 Year IRA
0.65%$500-1 Year Roth IRA
0.65%$500-1 Year CESA
0.45%$500-6 Month IRA
0.45%$500-6 Month Roth IRA
0.45%$500-6 Month CESA

Rates updated: 5/27/2012

Data for Q4 2011


Institution Statistics


OCEAN COMMUNITIES
NCUA #5890
BankRate ReportView
Year Chartered1948
Employees49
Primary Regulator

Assets and Liabilities

Assets$142.31 million
Loans$118.31 million
Deposits$124.83 million
Equity Capital$11.55 million
Loan Loss Allowance$511,000
Unbacked Noncurrent Loans$1.26 million
Real Estate Owned$172,000

Historic Data - December 2010

Assets$139.45 million
Equity Capital$11.04 million
Loan Loss Allowance$587,000
Unbacked Noncurrent Loans$901,000
Real Estate Owned$152,000

Profit Margin - Quarterly

Net Interest Margin4.09%
Return on Assets0.3%
Return on Equity3.76%
Interest Income$6.36 million
Non-Interest Income$2.01 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
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, 2011 Ocean Communities Federal Credit Union had $1.43 million in non-current loans and owned real-estate with $12.06 million in equity and loan loss allowances on hand to cover it. This gives Ocean Communities Federal Credit Union a Texas Ratio of 11.85% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Ocean Communities Federal Credit Union held steady from 9.06% as of December 31, 2010 to 11.85% as of December 31, 2011, resulting in a negative change of 30.82%. This indicates that the balance sheet and financial strength for Ocean Communities Federal Credit Union has held steady in recent periods.
Deposit Growth4
In the past year, Ocean Communities Federal Credit Union has increased its total deposits by $1.99 million, resulting in 1.62% 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 Ocean Communities Federal Credit Union has shown is above average.
Capitalization3
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. Ocean Communities Federal Credit Union has $142.31 million in assets with $12.06 million in equity, resulting in a capitalization level of 8.48%, which is average.
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Ocean Communities Federal Credit Union
5 stars - Mike - Saturday, June 19, 2010 - 2:38 PM

Excellent Office/Tellers/CSRs.  The one who signed me up over a year ago, still greets me by name when I walk in.  They have honored all reward checking claims since I've been there.  Whenever I've had a concern or question, they have patiently and politely handled my concern or answered my question. 

Highly recommend them. 

Only drawback is that it is LOCAL only.  I would like to think that helps them stay on top of their Lending standards.

3
 
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