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 626th largest credit union in the nation. It was established in 1961 and as of June of 2020, it had grown to 111 employees and 30,683 members at 11 locations. Maine Savings Federal Credit Union has an A 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
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Great local feeling and hospitality
Maine savings is the ONLY credit union I have ever used. I first went in skeptical, but their friendly and knowledgeable staff convinced me to open an account with them and 4 years later I do not regret it! As a young person, I had not many ideas about saving, butt with their service fee free savings accounts with versatile interest rewards options made me feel more secure in my decision. Red wallet reward options are pretty unique and definitely not something that any other bank in the area offers. I would also like to say that they are very understanding and lenient with overdraft fees and financial accidents as long as they are corrected when noticed, as long as you keep up to date on finances there should be no issue with this credit union, they are truly great and so helpful for someone like me who doesn;t really know much about savings and investment.
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 14565 |
| Year Chartered | 1961 |
| Employees | 111 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.94% |
| Return on Equity - YTD | 11.04% |
| Annual Interest Income | $8.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $509.4MM$439.1MM |
| Loans | Q2 2020vs Q2 2019 | $356.1MM$353.1MM |
| Deposits | Q2 2020vs Q2 2019 | $453.4MM$377.2MM |
| Equity Capital | Q2 2020vs Q2 2019 | $41.9MM$37.1MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $1.2MM$1.2MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $971.00K$831.00K |
| Real Estate Owned | Q2 2020vs Q2 2019 | $43.00K$51.00K |
