Overview of Maine State Credit Union

Maine State Credit Union was established in 1935. The stated purpose for the credit union upon its founding – which the company believes remains as relevant today – is to “promote thrift among its members, by affording them the opportunity for accumulating their savings, and to create for them a source of credit for loans for provident and productive purposes.” Main State Credit Union merged with Greater Waterville Area Federal Credit Union in 2006 and has expanded its field of membership over the years. As of this writing the credit union has 3 branches and employs a total of 96 employees.

Who Can Join?

You are eligible to join Main State Credit Union if you live, work, worship or go to school in Androscoggin, Cumberland, Kennebec, and Sagadahoc counties. You are also eligible to join if you or someone in your immediate family is a current or retired employee of the state of Maine. The following organizations that are eligible for membership are: Maine State Employees, Maine State Employees’ Association members, Maine Housing Authority employees, Maine Technical College System employees, Maine State Retirement System employees, Maine Association of Retirees members, retirees of any of the previously listed groups and individuals receiving a Maine State retirement pension.

Maine State Credit Union Locations

  • Main Office
    • Address: 200 Capitol Street, Augusta, ME 04330
    • Phone: 207-623-1851
    • Hours: Monday to Friday 7:30am – 5:00pm
  • East Side Office
    • Address: 162 Hospital Street, Augusta, ME 04330
    • Phone: 207-621-6060
    • Hours: Monday to Thursday 8:00am – 4:00pm and Friday 8:00am – 4:30pm
  • Greater Waterville
    • Address: 81 Grove Street, Waterville, ME 04901
    • Phone: 207-873-5159
    • Hours: Monday to Friday 8:00am – 4:30pm

Products and Services

The credit union offers the following services to its members:

  • Checking Accounts – Maine State Credit Unions has three checking account options currently, including Advantage Checking, Simply Free Rewards Checking and Easy Checking. The Easy Checking Account has no minimum balance requirement and no monthly service fees. You might be charged $25.00 if there’s an overdraft unless you qualify for Member Privilege.
  • Savings Accounts – the credit union has two main savings account options for its members: the Share Account and the Advantage Savings. The Share Account requires only $5.00 to open (which is also the minimum balance) and has a dividend rate of 0.05% annualized.
  • Credit Cards – the credit union has 3 credit card options: MSCU Rewards, VISA Classic and VISA Gold. With the MSCU Rewards card you earn one reward point for every dollar spent in addition to receiving cash back. For more information about the the credit union’s credit card options visit here.

Contact Information

  • Main Office Address: P.O. Box 5659, Augusta, ME 04332-5659
  • Website: http://www.mainestatecu.org
  • Phone: (207) 623-1851
  • Charter Number: 63377
  • Charter Year: 1935
  • Employees: 96
  • Maine State Credit Union Routing Number: 211287340
  • Membership Trends: Credit unions in the state of Maine have an average membership base of 13,803 compared with Maine State Credit Union which has total members of 32,799. Over the past three years, the credit union’s total base of members has increased by 12%.

Financial Information

  • Total Assets: $576 million
  • Total Loans: $336 million
  • Total Net Worth: $70 million
  • Total Net Worth Per Member: $2,128
  • Net Worth Ratio: 12.1%. Based on the NCUA guidelines, this credit union is well capitalized.

Other Credit Unions in Maine

There are currently 52 credit unions operating in the state of Maine and combined these credit unions have 718 thousand members. In addition to this credit union, you may also be eligible to join the following credit unions in the state: Community Credit Union, University Credit Union and Connected Credit Union.