Overview / Commentary
Norstate Federal Credit Union is headquartered in Madawaska and is the 18th largest credit union in the state of Maine. It is also the 1,130th largest credit union in the nation. It was established in 1941 and as of December of 2022, it had grown to 72 employees and 14,592 members at 6 locations. Norstate Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Membership is open to those who live, work, worship or attend school in Aroostook County or Northern Penobscot County.
See current membership details
Health
B+
Data as of Q4 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 4261 |
| Year Chartered | 1941 |
| Employees | 72 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.72% |
| Return on Equity - YTD | 6.66% |
| Annual Interest Income | $10.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $243.2MM$243.4MM |
| Loans | Q4 2022vs Q4 2021 | $182.4MM$172.2MM |
| Deposits | Q4 2022vs Q4 2021 | $211.5MM$207.2MM |
| Equity Capital | Q4 2022vs Q4 2021 | $26.2MM$28.4MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $939.00K$667.00K |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $3.6MM$2.4MM |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$68.00K |