Acadia makes top credit unions list
FORT KENT — A local banking institution has been recognized on a nationwide list of top credit unions.
Acadia Federal Credit Union was named to the 2015 edition of the Top 200 Healthiest Credit Unions in America, recently released by DepositAccounts.com, said spokesman Patrick Russo. Russo said the credit union stood out in all of the primary evaluation categories, including Texas Ratio, deposit growth, and capitalization.
Acadia received an overall rating of A-plus, with top rankings in the components of Texas Ratio trend, deposit growth and capitalization.
DepositAccounts.com described the Texas Ratio as “an indicator of how much capital a bank has available compared to the total value of loans considered at risk.” The lower the number, essentially, the better. As of March 31, 2015, the local credit union had $1.01 million in noncurrent loans and real estate, with $20.17 million in equity and loan loss allowances, giving it an “excellent” percentage of 5.02 percent, a decrease from 2014’s level of 13.30 percent.
The DepositAccounts report also indicates Acadia has, in the past year, increased total deposits by $8.9 million, resulting in 8.4 percent growth.
The institution, under the leadership of CEO David Desjardins, is based in Fort Kent, with branches in Ashland, Madawaska, St. Agatha and St. Francis. The most recent branch opening was in Ashland in July 2014.
Acadia has more than 10,000 members and assets of over $115 million, according to information on its website.
