Maine Savings Federal Credit Union is headquartered in Hampden and is the 2nd largest credit union in the state of Maine. It is also the 542nd largest credit union in the nation. It was established in 1961 and as of December of 2024, it had grown to 155 employees and 41,292 members at 11 locations. Maine Savings Federal Credit Union's CD rates are 2X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership is open to all residents of the state of Maine through joining the American Consumer Council (can join through the credit union's online application). Membership is also open to those living in select areas of Maine and to members of the Select Employee Group (details are in the credit union's online application).
See current membership details
Ruined My Credit And Can't/Won't Help Fix Their Mistake
I closed my account in person at this bank. Cancelled my card, withdrew all my money, then moved across the country. Two years later I found out they tried to send me a small bill after I had done this. They have no record for what it is or when it was or how much it is. According to a credit report it was less than $50. Even though I closed the account in person and none of this should have happened, I know have a delinquency on my credit that has dropped my score from almost 800 to 550 and I have slowly had it rise back to 650 which is still garbage for getting a mortgage. I have emailed multiple times with no response and have called multiple times with no help. Essentially the bank has no idea what happened, but still won't remove the blemish from my account. This could cost my thousands of dollars if I buy a home before the 7 years it takes to fall off my record. I would highly suggest to not even THINK of using Maine Savings. They are lazy, they are dumb, and they should not handle be allowed to handle any individual's money.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 14565 |
| Year Chartered | 1961 |
| Employees | 155 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.5% |
| Return on Equity - YTD | 6.34% |
| Annual Interest Income | $44MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $792.2MM$734.6MM |
| Loans | Q4 2024vs Q4 2023 | $636.4MM$570.9MM |
| Deposits | Q4 2024vs Q4 2023 | $706.3MM$655.6MM |
| Equity Capital | Q4 2024vs Q4 2023 | $61.9MM$57.9MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $2.2MM$2MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $4.7MM$2.6MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |
