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Katahdin Credit Union

Overview
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Katahdin Credit Union is a federal credit union based in Millinocket, Maine. It has been opened since 1954, for 66 years.

With around $74,970,000 in assets, Katahdin Credit Union is considered to be a large credit union. It has 2 branches and 2 ATM locations.

About
Address 1000 Central Street
Millinocket, Maine 04462
Website http://www.katahdinfcu.org
Phone (207) 723-9718
Fax (207) 723-8426
CEO Tina Jamo
President of the Board Rodney Daigle
Services Offered
Map
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Score Card
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66 years
Years in business
Opened in 1954
Well Capitalized
Net worth classification
Source: NCUA
7,833 members
Membership type: Unknown
Above average number of members
320:1
Credit union member to staff ratio
320 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
$74,974,714
Total assets
Above average
2 branches
Compared with an average of 4 nationally and 4 in Maine
Above average number of branches
0.21%
Savings interest rate
Compared to 0.3% nationally
12.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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2 branches
Compared with an average of 4 nationally and 4 in Maine
Above average number of branches
Katahdin Credit Union Branch Locations

Katahdin Federal Credit Union
1000 Central Street
Millinocket, Maine 04462
ATM Available
Katahdin Credit Union: Island Falls Branch
1068 Crystal Road
Island Falls, Maine 04747
ATM Available
Members
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7,833 members
Membership type: Unknown
Above average number of members

With 7,833 members, the Katahdin Credit Union is considered to be a large credit union. It is larger than 66% of credit unions.

Fees
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$78
Average fee per member
The average fee per member at the Katahdin Credit Union is $78, which is high compared to most credit unions. This rate is higher than 72% 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 Katahdin Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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320:1
Credit union member to staff ratio
320 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
24 staff members
FTE (full-time equivalent)
31% of employees are part-time
20 full-time, 9 part-time

Katahdin Credit Union has 20 full-time staff members and 9 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 69% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Katahdin Credit Union has around 320 members per staff, a low ratio compared to other credit unions. This is a well staffed credit union.

Assets
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$74,974,714
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.
13.6%
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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$9,906
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 48% of credit unions.

Katahdin Credit Union holds a total of $59,490,000 in loans and leases, which is about $9,906 per member on average.

Savings interest rate
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0.21%
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. Katahdin Credit Union pays 0.21%.

Loan rates
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12.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
11.80%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
5.25%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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4.50%
New car loan rate
Compared to 4.0% nationally
6.65%
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
4.40%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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Location
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Members
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Assets
Net Worth Classification
Well Capitalized
Average Fee
Credit Card Loan Interest Rate
7.90%
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Average Fee
Credit Card Loan Interest Rate
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Net Worth Classification
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Average Fee
Credit Card Loan Interest Rate
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Members
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Net Worth Classification
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Average Fee
Credit Card Loan Interest Rate
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Assets
Net Worth Classification
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Average Fee
Credit Card Loan Interest Rate
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