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Bangor Credit Union

Overview
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Bangor Credit Union is a federal credit union based in Bangor, Maine. It has been opened since 1956, for 64 years.

With around $152,100,000 in assets, Bangor Credit Union is considered to be a large credit union. It has 3 branches and 2 ATM locations.

About
Address P.O. Box 1161
Bangor, Maine 04402
Website http://www.bangorfederal.com
Phone (207) 947-0374
Fax (207) 990-0759
CEO Basil Closson
President of the Board Robert Welch
Services Offered
Map
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Score Card
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64 years
Years in business
Opened in 1956
Well Capitalized
Net worth classification
Source: NCUA
13,608 members
Membership type: Unknown
Above average number of members
309:1
Credit union member to staff ratio
309 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
$152,104,567
Total assets
Above average
3 branches
Compared with an average of 4 nationally and 4 in Maine
Above average number of branches
0.10%
Savings interest rate
Compared to 0.3% nationally
7.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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3 branches
Compared with an average of 4 nationally and 4 in Maine
Above average number of branches
Bangor Credit Union Branch Locations

Bangor Credit Union: Brewer
6 Dirigo Drive
Brewer, Maine 04412
ATM Available
Bangor Credit Union: Venture Way
10 Venture Way
Bangor, Maine 04401
ATM Available
Bangor Credit Union: Hogan Road
339 Hogan Road
Bangor, Maine 04401
No ATM
Members
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13,608 members
Membership type: Unknown
Above average number of members

With 13,608 members, the Bangor Credit Union is considered to be a large credit union. It is larger than 76% of credit unions.

Fees
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$87
Average fee per member
The average fee per member at the Bangor Credit Union is $87, which is high compared to most credit unions. This rate is higher than 78% of all credit unions.
Fees are higher than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Bangor Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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309:1
Credit union member to staff ratio
309 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
44 staff members
FTE (full-time equivalent)
4% of employees are part-time
43 full-time, 2 part-time

Bangor Credit Union has 43 full-time staff members and 2 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 96% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Bangor Credit Union has around 309 members per staff, a low ratio compared to other credit unions. This is a well staffed credit union.

Assets
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$152,104,567
Total assets
Above average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
9.4%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$9,338
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 43% of credit unions.

Bangor Credit Union holds a total of $112,110,000 in loans and leases, which is about $9,338 per member on average.

Savings interest rate
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0.10%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Bangor Credit Union pays 0.10%.

Loan rates
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7.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
8.50%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
5.75%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.99%
New car loan rate
Compared to 4.0% nationally
4.50%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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5.50%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
5.25%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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