Maine’s Credit Unions provide more than $500,000

By Barbara Scott
Staff Writer
    In recognition of National Volunteer Week (April 10-16), the Maine Credit Union movement’s unique volunteer program called Credit Unions Share for ME released the final results of volunteer efforts by Maine’s credit unions in 2010, and the amount of hours credit unions spent volunteering in their community. In 2010, Maine’s credit unions volunteered a record-setting 31,349.75, a 35 percent increase over 2009 totals.
    For credit unions with locations in Aroostook County, University CU, which has an office in Presque Isle, finished third overall in Maine with 2,388.50 volunteered hours.
    Other Aroostook County credit unions participating include The County FCU, with offices in Caribou, Fort Fairfield, Houlton and Presque Isle, with 1,213 hours; NorState FCU, which has offices in Madawaska, Fort Kent, Ashland, Presque Isle, Eagle Lake and Van Buren, with 906 hours; and Acadia FCU, with offices in Fort Kent, Madawaska and St. Francis, tallied more than 300 hours.
    The award-winning program documented the number of hours volunteered by credit union staff and directors from Jan. 1 through Dec. 31, 2010. Since it began in 2002, the program has documented more than 180,000 volunteer hours by credit union staff and directors.
    Based on figures from the Bureau of Labor Statistics, which calculates the value of one hour volunteered in Maine at $16.53, the value of the time volunteered by Maine’s credit unions equaled $518,000 in 2010.
    According to the Maine Credit Union League, which coordinates the program, more than 2,000 individuals, including credit union staff and board members, spent time volunteering in their communities this past year. An average of 334 credit union staff and directors volunteered each month in 2010.
    “Credit unions were formed by volunteers and, to this day, are still governed by a volunteer board of directors. The participation and involvement on the part of Maine credit unions in the communities they serve is a commitment that credit unions take very seriously. From working to end hunger to taking a leadership role in helping to bring financial education to students in record numbers, giving back through time is a core value and philosophy of Maine’s credit unions. Volunteering is part of the fabric of what credit unions are all about,” stated John Murphy, President of the Maine Credit Union League.
    Jon Paradise, governmental and public affairs manager for the Maine Credit Union League, said credit unions volunteer in their communities nearly every single day. “Credit union staff and directors are active on non-profit boards, helping in schools and at soup kitchens, as well as countless other activities and events. The reason is simple — helping others is the right thing to do.”
    Paradise also said that these figures are only the documented figures provided by participating credit unions so the actual number is likely significantly higher but we are pleased with the growth the program   past year.