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News Now

CU System
Maine CUs expand in 2010
PORTLAND, Maine (3/21/11)--More consumers continued to choose Maine’s credit unions for financial services in 2010, as assets, savings, loans, and membership all reflected increases, according to year-end statistics of Maine’s 64 credit unions reported the Maine Credit Union League. Combined assets at Maine’s credit unions rose to $5.39 billion, an increase of 3.8%; loans grew 2.3% to nearly $83 million; savings increased 4.5% to more than $206 million; and membership grew 0.7% for a net gain of 4,115 members. Membership at Maine’s credit unions now stands at 610,720. As Maine consumers strive for financial stability in a recovering economy, they can trust that credit unions will remain safe, strong and growing in the many ways they work to serve their members, said John Murphy, league president. “Now more than ever, Maine consumers can save on financial services thanks to lower fees and better rates on savings and loans offered by Maine’s credit unions,” Murphy said. “Maine credit unions have also demonstrated their commitment to helping members through tough times, from offering special loan programs to help with the high cost of heating their homes, to taking an active role in consumer protection and education efforts, making it all contributing factors why membership grew in 2010.” Maine’s credit unions also increased accessibility in 2010, with nearly 215 ATM locations throughout the state with the surcharge-free ATM network (SURF), and a shared-branch network that enables credit union members to conduct most financial transactions at nearly 140 locations in Maine. That is more than two-and-a-half times more than any other financial institution in the state. Also, Maine credit unions continued to offer new technology, including mobile banking, so members can deposit checks at home, as well as other tools and resources. “Using a Maine credit union has never been more convenient with enhanced access online, in-person and statewide,” Murphy added.


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