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Maine CUs offer loans to closed oil co. customers
AUGUSTA, Maine (2/10/11)--Five credit unions with branches in the Midcoast region of Maine joined Maine Gov. Paul LePage and the State Energy Office at the State House in Augusta to announce a new credit union program to assist consumers impacted by the recent closure of a well-known energy company in Brunswick. The program, which the Maine Credit Union League helped facilitate and coordinate, will offer consumers who had prepaid for heating oil zero interest, no-fee loans to purchase fuel.
Maine State Sen. Stan Gerzofsky (D-10), from left, who, coincidentally, is a member of Atlantic Regional FCU, Brunswick, Maine; Maine Gov. Paul LePage, and Roger Sirois, president/CEO of Atlantic Regional FCU, announced a program created by credit unions to help consumers impacted by the Thibeault Energy closure. (Photo provided by the Maine Credit Union League)
At a press conference held Tuesday, LePage congratulated Maine’s credit unions “for taking action to help others. I commend the Maine Credit Union League for helping to coordinate a quick response and to the credit unions for being willing to help.” John Murphy, league president, said: “Maine credit unions have once again shown a willingness to assist consumers and communities. This is an example of the cooperative spirit of credit unions coming together to demonstrate leadership during a crisis that has impacted a number of consumers in the Midcoast region.” All five credit unions with branches in the Midcoast region are participating: Atlantic Regional FCU, Brunswick; Down East CU, Baileyville; Five County CU, Bath; Lisbon (Maine) Community FCU,; and Midcoast FCU, Bath. Speaking on behalf of the credit unions, Roger Sirois, president/CEO of Atlantic Regional FCU, said: “The recent and sudden closure of Thibeault Energy has impacted a number of area residents. This action has caused financial hardship for many residents and, with a good three months of the heating season remaining, left them wondering how they are going to come up with the funds to heat their homes. Indeed, this is one of those times when credit unions can make a difference in our communities. “In the spirit of cooperation, the five Midcoast area credit unions are providing zero interest, no fee loans of up to $2,000 to customers directly impacted by the closure of Thibeault Energy,” he added. “We are offering these special loans not only because there is an immediate need, but because it is the right thing to do.” Other features and requirements of the program are:
* A 12-month term; * No credit check; * Proof of loss must be provided; and * Disbursement will be made via check directly to the oil company.
Loans are available at the five credit unions on a first come-first serve basis through April 1.


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