University Credit Union (ME) is headquartered in Orono and is the 6th largest credit union in the state of Maine. It is also the 827th largest credit union in the nation. It was established in 1967 and as of March of 2014, it had grown to 81 employees and 25,124 members. University Credit Union (ME)'s savings rates are 46% higher than the national average, and it has a B+ health rating.
Membership is primarily open to the students, employees and alumni of the University of Maine system. You also qualify for membership if you are a member, employee or a pensioner of one of UCU's Select Employer Groups. If you are an immediate family member of a person who is associated with any of the sponsor groups, you are also eligible for membership. - See Details
This bank has the most unfriendly, unflexible "employees" that I have ever had to encounter. I will NEVER work with this incoherent buisness ever again. I am completely unsatisfied with my loan, the way they present themselves and their services. I will be taking legal action. I was told that I was an inconvinence to them and that they couldn't find anyone fast enough to "handle me" by a woman named Carla. I went through a male and another woman before reaching this "charming" woman. She attacked my personal life as well by saying she doesn't have any clue where I'm coming from. For working in "resolutions" you would think it would be her job to create a positive and helpful solution to bust costumer moral and get the money she is after. I am willing to pay three months early, but I am disgusted with the number of times I was transfered due to their inability or lack of the credentials to understand and answer a simple question. I give University Credit Union negative stars for performance, costumer satisfaction and timeliness.
I have been storing my money with UCU since the fall of 2011. Its online banking system only displays records as far back as January 2013, but since then I have lost $460 in transfer fees. When I opened the account, I asked for and was assured that my checking account would bounce any overdrafts, with no charge to me. This is a common practice in many banks outside of Maine, so I went on my merry way. Once or twice a year I would receive an withdrawal transfer fee notification in the mail, call UCU, get a refund on the fee and "reset" my account to not allow overdrafts. Recently I got another letter in the mail, checked my online account, and realized that I have probably lost twice as many as 460 dollars (given that I have records for only half of my time with UCU).
I know I should have been more vigilant about my spending - my fault there. This practice is technically not illegal, so I can't really do anything about that. But the notion that a credit union would repeatedly lie to its clients about the nature of their accounts is reprehensible. I intend to move my money into another bank or credit union as soon as possible.
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 University Credit Union (ME) had $2.9 million in non-current loans and owned real-estate with $22.98 million in equity and loan loss allowances on hand to cover it. This gives University Credit Union (ME) a Texas Ratio of 12.61% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for University Credit Union (ME) experienced no significant changes from 10.24% as of March 31, 2013 to 12.61% as of March 31, 2014, resulting in a negative change of 23.12%. This indicates that the balance sheet and financial strength for University Credit Union (ME) has had no significant changes in recent periods.
In the past year, University Credit Union (ME) has increased its total deposits by $7.44 million, resulting in 4.34% 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 University Credit Union (ME) has shown is excellent.
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. University Credit Union (ME) has $239.12 million in assets with $22.98 million in equity, resulting in a capitalization level of 9.61%, which is above average.
|Assets and Liabilities|
|Equity Capital||$21.90 million|
|Loan Loss Allowance||$1.08 million|
|Unbacked Noncurrent Loans||$2.77 million|
|Real Estate Owned||$124,000|
|Historic Data - March 2013|
|Equity Capital||$20.62 million|
|Loan Loss Allowance||$954,000|
|Unbacked Noncurrent Loans||$2.77 million|
|Real Estate Owned||$0|
|Profit Margin - Quarterly|
|Return on Assets||0.52%|
|Return on Equity||5.66%|
|Interest Income||$2.43 million|
Always verify rates and promotions with the bank or credit union. We are not University Credit Union (ME), we are a rate comparison website and can not provide official rates or promotions.
|0.76%||-||$15k||rewardU Saver - Qualifying|
|0.20%||$10k||-||Emergency Savings Account|
|0.20%||$10k||-||Health Savings Account|
|0.10%||-||-||All Purpose Club|
|0.10%||-||-||Monty Moose Account|
|0.05%||-||-||rewardU Saver - Non Qualifying|
|0.30%||$100k||-||Preferred Money Market|
|1.50%||-||$10k||rewardU Checking - Qualifying|
|0.05%||-||-||rewardU Checking - Non Qualifying|
|2.00%||$2,500||-||58 Month CD Speical|
|2.00%||$250||-||58 Month Monty Moose CD Speical|
|1.20%||$500||-||60 Month CD|
|1.20%||$250||-||60 Month Monty Moose CD|
|0.90%||$500||-||48 Month CD|
|0.90%||$250||-||48 Month Monty Moose CD|
|0.75%||$500||-||36 Month CD|
|0.75%||$250||-||36 Month Monty Moose CD|
|0.60%||$1,500||-||16 Month CD Speical|
|0.60%||$250||-||16 Month Monty Moose CD Speical|
|0.55%||$500||-||24 Month CD|
|0.55%||$250||-||24 Month Monty Moose CD|
|0.40%||$500||-||18 Month CD|
|0.40%||$250||-||18 Month Monty Moose CD|
|0.30%||$500||-||12 Month CD|
|0.30%||$250||-||12 Month Monty Moose CD|
|0.20%||$500||-||6 Month CD|
|0.20%||$250||-||6 Month Monty Moose CD|
|2.00%||$2,500||-||58 Month IRA Special|
|1.20%||$500||-||60 Month IRA|
|0.90%||$500||-||48 Month IRA|
|0.75%||$500||-||36 Month IRA|
|0.60%||$1,500||-||16 Month IRA Special|
|0.55%||$500||-||24 Month IRA|
|0.40%||$500||-||18 Month IRA|
|0.30%||$500||-||12 Month IRA|
|0.20%||$500||-||6 Month IRA|
|University Credit Union (ME) Locations|
|Branch Office||154 High St||Farmington, ME 04938-1930|
|Branch Office||181 Main St||Presque Isle, ME 04769|
|Branch Office||1071 Brighton Ave||Portland, ME 04102|
|Branch Office||391 Forest Ave||Portland, ME 04101-2001|
|Branch Office||139 Rangeley Rd||Orono, ME 04469|
|Branch Office||5748 Memorial Un University of Maine||Orono, ME 04469|
|Branch Office||977 Union St||Bangor, ME 04401|