University Credit Union (ME) is headquartered in Orono and is the 6th largest credit union in the state of Maine. It is also the 776th largest credit union in the nation. It was established in 1967 and as of December of 2020, it had grown to 84 employees and 28,484 members at 8 locations. University Credit Union (ME) has an A health rating.
Field of Membership Restrictions
Membership in University Credit Union is open to the following: (1) those who live in the town of Orono; (2) alumni, students and employees of the University of Maine System's Office and any of the University of Maine System School (3) student, employees or alumni of Maine Maritime Academy, The Landing School, Northeast Technical Institute, or Cosmotech.
See current membership details
Great Place!
This credit union is filled with friendly and helpful employees. They are wonderful to work with and their Kasasa products offer great benefits! I love their mobile app ... what a time saver!
UCU Maine
I have been a customer of University Credit Union through the University of Maine for several years. I have had various types of accounts with them including checking, savings, and a loan. The staff is always great to deal with whether I'm at the bank depositing a check or using the change machine in the lobby, have called to report an issue with my card, or when opening an account. I'm most grateful for the fantastic monitoring they do. Any time I've had a card compromised they catch it on the first transaction and immediately call to notify me. They also print cards in the branch, which is very helpful. Once when I was traveling out of state and lost my debit card they helped me find a credit union in their network who could help me withdraw enough cash until I could get home and get a new card printed.
Reward Checking Rate Is Actually 3% On First 10K
This credit union has been great to work with. I wanted to comment because the reward checking account rate isn't getting updated, it's still listed as 1.5% here though it's been 3% on the first 10k for a couple months I think. https://www.ucu.maine.edu/uploads/files/Rates/KasasaCashTruth_in_Savings.pdf
Rate Cut Effective June 1
Effective June 1, 2020 and upon qualification, you will earn:
Kasasa Cash Checking
1.50% APY* on balances up to $10,000
0.15% APY* on the portion of balance over $10,000
0.05% APY* on all balances if qualifications are not met (no change)
Kasasa Saver
0.75% APY* on balances up to $15,000
0.15% APY* on the portion of balance over $15,000
0.05% APY* on all balances if qualifications are not met (no change)
Edit June 1: UCU made it as difficult as possible to close my account through sheer incompetence and making me jump through all kinds of hoops. One person would say one thing and another would say something else altogether. Either they don't have their act together or this is some ham-handed attempt at retention. Finally, after a branch visit to the drive-thru (which connected me to a teller two hours away - why?) and multiple phone calls and emails I finally got it done, but it was a nightmare. All in all, it took me four days to be rid of them.
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 63133 |
| Year Chartered | 1967 |
| Employees | 84 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.89% |
| Return on Equity - YTD | 9.46% |
| Annual Interest Income | $14.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $385.6MM$330.6MM |
| Loans | Q4 2020vs Q4 2019 | $315.1MM$263.1MM |
| Deposits | Q4 2020vs Q4 2019 | $322.0MM$257.8MM |
| Equity Capital | Q4 2020vs Q4 2019 | $35.8MM$31.1MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $1.8MM$1.2MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $371.00K$722.00K |
| Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |