Maine credit unions expanded assets, savings, lending and membership

    PORTLAND — According to year-end statistics of Maine’s 64 credit unions, more consumers choose Maine’s credit unions for financial services as assets, savings, loans, and membership all reflected an increase In 2010, as reported by the Maine Credit Union League.
    Combined assets at Maine’s credit unions increased to $5.39 billion, an increase of 3.8 percent, loans grew 2.3 percent to nearly $83 million, savings increased 4.5 percent up over $206 million and membership grew 0.7 percent for a net gain of 4,115 members; membership at Maine’s credit unions now stands at 610,720.
    For credit unions with offices in Aroostook County, three were ranked in the Top 25 in asset size at year-end 2010 including: The County FCU, which is based in Caribou but has branches in Presque Isle, Fort Fairfield and Houlton, was ranked at number 11; NorState FCU, which is based in Madawaska with branches in Ashland, Eagle Lake, Fort Kent, Presque Isle and Van Buren, was ranked number 13; and Acadia FCU, based in Fort Kent with branches in Madawaska and St. Francis, was ranked number 23.
    John Murphy, president of the Maine Credit Union League, said that 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.
    “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 Maine 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 — as well as over 4,200 locations nationwide.
     In addition, Maine credit unions continued to offer consumers the latest technology including mobile banking, the ability for members to deposit checks at home and other tools and resources to meet their needs. “Using a Maine credit union has never been more convenient with enhanced access online, in-person and statewide,” Murphy added.