Maine

REGULATING AGENCY: Maine Department of Professional and Financial Regulation; Bureau of Financial Institutions

Maine State House

  • Lloyd LaFountain III, Superintendent of Financial Institutions
  • John Barr, Esq., Deputy Superintendent – Research, Administration & Legal Affairs
  • Website: maine.gov/pfr/financialinstitutions
  • News

LEAGUE:

PRIVATE SHARE INSURANCE: No

STATS: (As of Q4 2021)

Total Number of Credit Unions: 52

  • TOTAL # SCUs: 12
  • TOTAL # FCUs: 40
  • SCU % OF TOTAL (SCUS #/STATE TOTAL #): 23%

Total Assets: $10,799,854,418

  • TOTAL $ SCU ASSETS: $3,306,274,798
  • TOTAL $ FCU ASSETS: $7,493,579,620
  • SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 31%

Total Members: 717,753

  • TOTAL Members SCUs: 221,924
  • TOTAL Members FCUs: 495,829
  • SCU % OF TOTAL (SCUS/STATE TOAL): 31%

FUN FACT: The White Mountain National Forest covers nearly 800,000 acres; the forest covers a landscape ranging from hardwood forests to the largest alpine area east of the Rocky Mountains.

RECENT NEWS

Maine report shows credit unions held 22% of all assets in state at mid-year ‘21

January 21, 2022 — There were 56 credit unions authorized to do business in Maine at mid-year 2021 — which altogether held $10.3 billion in assets, for 22.07% of all financial institution assets in the state — according to the annual report to the state’s legislature issued this week by the Maine Bureau of Financial Institutions. The charter types for the credit unions included 12 state credit unions chartered by Maine, two credit unions chartered by other states, and 42 federal credit unions.

Overall, Maine-chartered credit unions, the report notes, held $3.15 billion in assets, representing a year-over-year increase of 15.2% ($416 million). For more information on Maine credit unions (and financial institutions) see the link below to the full report.

Annual Report from The Superintendent Of The Bureau Of Financial Institutions To The Legislature

 

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