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Overview / Commentary
177 Main St
Bucksport, ME 04416

Seaboard Credit Union is headquartered in Bucksport and is the 24th largest credit union in the state of Maine. It is also the 1,415st largest credit union in the nation. It was established in 1940 and as of March of 2014, it had grown to 36 employees and 11,835 members. Seaboard Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Hancock, Washington, Waldo or Penobscot County. - See Details

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Health

Data for Q1 2014

Institution Health

B+

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 Seaboard Credit Union had $1.05 million in non-current loans and owned real-estate with $10.71 million in equity and loan loss allowances on hand to cover it. This gives Seaboard Credit Union a Texas Ratio of 9.77% 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 Seaboard Credit Union decreased dramatically from 16.17% as of March 31, 2013 to 9.77% as of March 31, 2014, resulting in a positive change of 39.56%.This indicates that the balance sheet and financial strength for Seaboard Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B

In the past year, Seaboard Credit Union has increased its total deposits by $440,000, resulting in 0.44% 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 Seaboard Credit Union has shown is above average.

Capitalization

GRADE:
B

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. Seaboard Credit Union has $111.25 million in assets with $10.71 million in equity, resulting in a capitalization level of 9.63%, which is above average.

Institution Statistics

Overall
NCUA #4118
Year Chartered1940
Employees36
Primary Regulator
Assets and Liabilities
Assets$111.25 million
Loans$80.65 million
Deposits$100.48 million
Equity Capital$10.33 million
Loan Loss Allowance$384,000
Unbacked Noncurrent Loans$561,000
Real Estate Owned$486,000
Historic Data - March 2013
Assets$109.55 million
Equity Capital$9.11 million
Loan Loss Allowance$443,000
Unbacked Noncurrent Loans$561,000
Real Estate Owned$522,000
Profit Margin - Quarterly
Net Interest Margin1.11%
Return on Assets0.58%
Return on Equity6.2%
Interest Income$1.04 million
Rates

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Seaboard Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%--Health Savings Account
0.20%--IRA Account
0.10%--Savings Account
0.10%--Christmas Club Account

Seaboard Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$2,500-Money Market Account

Seaboard Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.00%--Checking Account (Check 21)

Seaboard Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.36%$100k-60 Month Premium CD
1.26%$500-60 Month CD
1.26%$500-Business 60 Month Certificates
1.26%$500-60 Month HSA Certificate
1.06%$100k-48 Month Premium CD
0.95%$500-48 Month CD
0.95%$500-Business 48 Month Certificates
0.95%$500-48 Month HSA Certificate
0.85%$100k-36 Month Premium CD
0.75%$500-36 Month CD
0.75%$500-Business 36 Month Certificates
0.75%$500-36 Month HSA Certificate
0.65%$100k-24 Month Premium CD
0.55%$500-24 Month CD
0.55%$500-Business 24 Month Certificates
0.55%$500-24 Month HSA Certificate
0.50%$100k-18 Month Premium CD
0.40%$500-18 Month CD
0.40%$100k-12 Month Premium CD
0.40%$500-Business 18 Month Certificates
0.40%$500-18 Month HSA Certificate
0.30%$500-12 Month CD
0.30%$100k-6 Month Premium CD
0.30%$500-Business 12 Month Certificates
0.30%$500-12 Month HSA Certificate
0.25%$100k-3 Month Premium CD
0.20%$500-6 Month CD
0.20%$500-Business 6 Month Certificates
0.20%$500-6 Month HSA Certificate
0.15%$500-3 Month CD
0.15%$500-Business 3 Month Certificates
0.15%$500-3 Month HSA Certificate

Seaboard Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.36%$100k-60 Month Premium IRA
1.26%$500-60 Month IRA
1.26%$500-60 Month HSA CD
1.06%$100k-48 Month Premium IRA
0.95%$500-48 Month IRA
0.95%$500-48 Month HSA CD
0.85%$100k-36 Month Premium IRA
0.75%$500-36 Month IRA
0.75%$500-36 Month HSA CD
0.65%$100k-24 Month Premium IRA
0.55%$500-24 Month IRA
0.55%$500-24 Month HSA CD
0.50%$100k-18 Month Premium IRA
0.40%$500-18 Month IRA
0.40%$100k-12 Month Premium IRA
0.40%$500-18 Month HSA CD
0.30%$500-12 Month IRA
0.30%$100k-6 Month Premium IRA
0.30%$500-12 Month HSA CD
0.25%$100k-3 Month Premium IRA
0.20%$500-6 Month IRA
0.20%$500-6 Month HSA CD
0.15%$500-3 Month IRA
0.15%$500-3 Month HSA CD
Locations


Seaboard Credit Union Locations
Branch Office177 Main StBucksport, ME 04416
Branch Office200 Main StEllsworth, ME 04605
Branch Office2410 Route 2Hermon, ME 04401