Overview of Maine Family FCU

Maine Family FCU has been operating for 84 years, having first been established in the year 1938. The credit union mainly focuses on the provision of mortgages and lines of credit which represent 43% of its loans outstanding. In terms of its overall asset base, Maine Family FCU is larger than 77% of credit unions in the country. The National Credit Union Administration (NCUA) insures deposits at credit unions in addition to regulating and supervising them. The NCUA was formed by the U.S. Congress in 1970. The company has a total of 2 branches and employs a total of 40 employees.

Discussion of the Credit Union’s Operations

The credit union currently has total assets of $233 million, total deposits of $213 million and net loans outstanding of $100 million. On average its members had a total of $9,566 deposited with the credit union – this is a helpful metric to monitor as it provides us with an idea of the level of engagement of the credit union’s membership base. The average credit union in Maine Family FCU’s peer set has a loan to deposit ratio of approximately 63%. In comparison, Maine Family FCU has a loan to deposit ratio of 47% which is clearly lower than the peer set. A lower ratio is generally better as it indicates that the lending activities of a credit union are more comfortably covered by its deposit base. Deposits are often the most cost effective source of funding for banks and credit unions. Moving on to the credit union’s loan portfolio, it mainly consists of the following: mortgages and lines of credit make up 43% of the portfolio and there is a total of $43 million outstanding and auto loans comprises 37% of the loan book and there is a total of $37 million outstanding.

Contact and Other Helpful Information

  • Main Office Address: 555 Sabattus St, Lewiston, ME 4240
  • Website: http://www.mainefamilyfcu.com
  • Phone: (207) 783-2071
  • Charter Number: 2644
  • Charter Year: 1938
  • Employees: 40
  • Routing Number: 211287913
  • Membership: Maine Family FCU has a membership base of 22,281 which is significantly larger than the average credit union operating in the state of Maine. The average credit union in the state has 13,844 members. Over the past three years, the credit union’s total base of members has increased by 4%.

Maine Family FCU: Financial Overview

maine family fcu-balance-sheet-metrics

The above chart summarizes the trends in key balance sheet items for Maine Family FCU. First off, it is noteworthy that across the board, all four items have increased over the past year. The credit union’s assets have grown by 14.6% while its total loans have grown by 10.7%. In addition, the company’s mortgages and lines of credit have grown by 29.8% while its deposits have increased by 18.5%. The net worth of a credit union provides us with an idea of how the credit union has performed over the years. It is the total value that the credit union has created for its members since inception. Maine Family FCU has a total net worth of $19 million. This implies that the credit union has a net worth per member of $867 which is below the national average of $1,606.

Overview of the Credit Union’s Performance Metrics

maine family fcu-selected-performance-metrics

The chart above compares Maine Family FCU’s performance on three metrics to credit unions in its peer group and also shows the credit union’s performance on each metric in the prior year. These are some of the important measures for a credit union’s performance that we look at. If we take a look at Maine Family FCU’s return on assets – which is usually a good measure of how efficiently a company is using its assets to produce profits – we see that the credit union is below the average comparable credit union and also that over the past year ROA has improved given the year over year change of 0.17%. Moving on to the credit union’s delinquency rate, which tells us how much of a credit union’s loan book is delinquent, the credit union is below its peer group on this metric and compared with the prior year it has improved. Keep in mind that a higher delinquency rate indicates a lower performing loan book so a declining rate is a favorable trend. The net worth ratio for the credit union is 8.3% and has declined compared with the prior year figure of 8.9%. The credit union is also below its peer group average of 9.7% on this metric. Finally, based on the NCUA guidelines, the company’s net worth ratio would classify it as well capitalized.


Ultimately, after considering all of the relevant factors we rate Maine Family FCU 2.6 out of 5.0, which is average. As a final note, please remember that our rating is the product of a proprietary scoring methodology which uses nationwide data for credit unions and our survey work. Importantly, none of the work presented herein is intended to be investment advice or advice of any sort and is presented purely for informational purposes.