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Overview / Commentary
391 Main St
Lewiston, ME 04240

Rainbow Credit Union is headquartered in Lewiston and is the 12st largest credit union in the state of Maine. It is also the 998th largest credit union in the nation. It was established in 1956 and as of March of 2014, it had grown to 53 employees and 21,483 members. Rainbow Credit Union has a A+ health rating.

Field of Membership Restrictions

Must live, work or attend school in Androscoggin County, Oxford County or New Gloucester. - See Details

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Data for Q1 2014

Institution Health


Texas Ratio


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 Rainbow Credit Union had $986,000 in non-current loans and owned real-estate with $22.95 million in equity and loan loss allowances on hand to cover it. This gives Rainbow Credit Union a Texas Ratio of 4.30% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Rainbow Credit Union decreased dramatically from 6.33% as of March 31, 2013 to 4.30% as of March 31, 2014, resulting in a positive change of 32.11%.This indicates that the balance sheet and financial strength for Rainbow Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Rainbow Credit Union has increased its total deposits by $2.69 million, resulting in 1.93% 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 Rainbow Credit Union has shown is above 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. Rainbow Credit Union has $183.5 million in assets with $22.95 million in equity, resulting in a capitalization level of 12.51%, which is excellent.

Institution Statistics

NCUA #11144
Year Chartered1956
Primary Regulator
Assets and Liabilities
Assets$183.50 million
Loans$118.34 million
Deposits$141.89 million
Equity Capital$22.51 million
Loan Loss Allowance$444,000
Unbacked Noncurrent Loans$726,000
Real Estate Owned$260,000
Historic Data - March 2013
Assets$176.73 million
Equity Capital$20.95 million
Loan Loss Allowance$402,000
Unbacked Noncurrent Loans$726,000
Real Estate Owned$446,000
Profit Margin - Quarterly
Return on Assets0.8%
Return on Equity6.5%
Interest Income$1.42 million

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Rainbow Credit Union Savings Account Rates

0.25%--IRA Variable
0.25%--Roth IRA Variable
0.25%--CESA Variable

Rainbow Credit Union Money Market Rates

0.35%$50k-Variable Money Market

Rainbow Credit Union Checking Account Rates

0.05%$500-Share Draft

Rainbow Credit Union CD Rates

1.36%$90k-5 Year Jumbo CD
1.31%$500-5 Year CD
1.11%$90k-4 Year Jumbo CD
1.01%$500-4 Year CD
0.90%$90k-3 Year Jumbo CD
0.80%$500-3 Year CD
0.70%$90k-2 Year Jumbo CD
0.60%$500-2 Year CD
0.50%$500-15 Month CD
0.50%$90k-1 Year Jumbo CD
0.40%$500-1 Year CD
0.40%$90k-6 Month Jumbo CD
0.30%$500-6 Month CD
0.10%$500-3 Month CD

Rainbow Credit Union IRA Rates

1.36%$90k-5 Year Jumbo IRA
1.31%$500-5 Year IRA
1.11%$90k-4 Year Jumbo IRA
1.01%$500-4 Year IRA
0.90%$90k-3 Year Jumbo IRA
0.80%$500-3 Year IRA
0.70%$90k-2 Year Jumbo IRA
0.60%$500-2 Year IRA
0.50%$90k-1 Year Jumbo IRA
0.40%$500-1 Year IRA
0.40%$90k-6 Month Jumbo IRA

Rainbow Credit Union Locations
Branch Office391 Main StLewiston, ME 04240
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