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News Now

CU System
Popularity, Growth of CUs Reported in Several Dailies
PORTLAND, Maine (5/28/13)--The Maine Credit Union League's outreach helped secure the placement of two recent articles on the popularity and growth of credit unions in state daily newspapers.

An article that ran in both the Bangor Daily News and the Sun Journal noted that total membership in Maine credit unions had increased by 5% in the past six years, (Weekly Update May 24).

John Murphy, league president, was interviewed by Whit Richardson, Bangor Daily News business editor. In the article, Murphy cited the cooperative structure of credit unions as one of the movement's strengths and among the reasons why credit union membership in the state was 625,000 at the end of 2012, the highest year-end total ever.

Consumers prefer to deposit their money in local institutions, Murphy said.

Richards also interviewed Steve Clark, president/CEO of Bangor (Maine) FCU. Clark said his credit union experienced member growth at the end of 2012, followed by loan growth in early 2013.
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