Maine Savings Federal Credit Union

Overview / Commentary
101 Western Ave
Hampden, ME 04444

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 616th largest credit union in the nation. It was established in 1961 and as of June of 2023, it had grown to 138 employees and 37,113 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

Related Posts

Maine Savings Fed Credit Union Offers Rate-Leading 50-Month CD Statewide - 11/18/2022

Maine Savings Federal Credit Union (easy membership in Maine) has added a rate-leading 50-month CD Special. Minimum opening deposit is $500 of new money.

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Reviews (2)

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.

Ruined My Credit And Can't/Won't Help Fix Their Mistake

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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.


Health Grade Components

NCUA #14565
Year Chartered1961
Primary Regulator
Profit Margin
Return on Assets - YTD1.03%
Return on Equity - YTD12.39%
Annual Interest Income$15.3MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$656.1MM$581.4MM
LoansQ2 2023vs Q2 2022$528.3MM$408.9MM
DepositsQ2 2023vs Q2 2022$602.4MM$530.8MM
Equity CapitalQ2 2023vs Q2 2022$55.4MM$49.9MM
Loan Loss AllowanceQ2 2023vs Q2 2022$1.8MM$1.2MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$1.4MM$888.00K
Real Estate OwnedQ2 2023vs Q2 2022$0$0

Rates for Maine Savings Federal Credit Union are currently being reviewed.



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