Advertising supplement to the Sun Journal Sunday, October 11, 2009
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International Credit Union Week
Sun Journal, Lewiston, Maine, Sunday, October 11, 2009
Credit Unions Save Maine Consumers Over $73 Million! The 600,000 Maine consumers who utilize Maine credit unions each year continue to reap the impressive financial advantages of being a credit union member. A recent study found that the economic benefit of using a Maine credit union has nearly doubled since 2005, currently standing strong at more than $73 million. In a marketplace where hidden fees are increasingly common, credit unions’ ability to offer Maine consumers higher interest payments on deposits, lower interest rates on loans, and fewer and lower fees on financial services keep savings to members on the rise. In the study, Charles Lawton, a well-respected economist at Planning Decisions in South Portland, concluded that credit unions have significantly lower, fewer or no fees compared to for-profit financial institutions. Credit unions also pay, on average, higher dividend
and interest rates on savings and charge lower interest rates on loans. Maine Credit Union League President John Murphy said that the great efforts made to offer such savings in a challenging economy make credit unions an increasingly valuable resource for Maine people. “The credit union philosophy of putting the interests of their members first continues to highlight the difference between credit unions and other financial institutions. Credit unions are owned and governed by their members, so all members benefit from better rates and lower and fewer fees. That is a key and distinct difference of credit unions. Now more than ever, Maine consumers recognize and appreciate the value of using a credit union,” he said. To find a credit union near you, visit www. mainecreditunions.org.
Maine Credit Union Week October 11-17, 2009 Celebrate Maine Credit Union Week with us with daily drawings
555 Sabattus St., Lewiston 831 Minot Ave., Auburn 783-2071 • 1-800-783-2071
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ot only do credit unions provide top-notch personal service, they offer the latest and most convenient technology. In the past few years, Maine’s credit unions have introduced leading technology, including the ability to conduct online transactions, online lending, electronic check imaging, instant debit card issue, and more. Credit unions continue to introduce new products to enhance the lives of their members, without compromising the most important connection of all: the relationship between the credit union and each individual member. “The ability to implement new technology while still maintaining a level of member service that ranks first out of all other financial institutions in Maine is what sets Maine’s credit unions apart in the financial services industry,” explained John Murphy, President of the Maine Credit Union League. “We are able to give members what they want - access to the latest technology and exceptional personal service. Credit unions work hard to provide both, and credit union members appreciate that.” This high level of service has now gone mobile, as Maine consumers can have money-saving tips sent to their cell phone! When you text “ATM at 22700” you receive information on saving money by using a Maine credit union. The Maine credit union movement also has a presence in the world of social media. A blog titled “What’s More in Maine” is on www.mainecreditunions.org. Additionally, the Maine Credit Union League can be found on Facebook, along with several Maine credit unions. With the combined strength of personal member service and the commitment to delivering exceptional leading technology services, Maine’s credit unions continue to offer the most comprehensive and enjoyable experience in today’s financial services industry. A link to all Maine credit unions and their services can be found at www.mainecreditunions.org.
Comprehensive, Personalized Solutions for Credit Union members & employees
www.mainefamilyfcu.com If you are not currently a member of the credit union but would like to, call or stop by one of our offices. Credit union membership brings money-saving benefits, and it lasts a lifetime! We are proud to be growing and working hard for Maine families.
From Text Messaging to Facebook, Maine’s Credit Unions are on the Cutting Edge of Technology
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Sun Journal, Lewiston, Maine, Sunday, October 11, 2009
International Credit Union Week
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Maine Credit Unions Offer Choice, Access with Nearly 200 Fee-Free ATMs! With the CU24 SurF ATM Alliance®, members of participating credit unions can save an average of $300 a year on surcharge fees at nearly 200 ATM locations throughout Maine, one of the largest ATM Networks in the state. With the SurF network, ‘no fees’ means just that-not only will you see no fees at your ATM, there are no hidden fees anywhere else! In addition, a number of SurF CU24 ATM Alliance locations give thousands of Maine credit union members the ability to not only access cash but to also make deposits, surcharge-free. The CU24 SurF ATM Alliance now includes over 90% of the state’s 67 credit unions. “The
surcharge, or worse yet, finding increased fees on other products and services. For members of participating credit unions, this is a cost
they will never face, as simply looking for SurF logo on other credit unions’ ATM machines is their ticket to a fee-free transaction. For a complete listing of
the CU24 SurF ATM locations in Maine, visit www.mainecreditunions.org and click on “Find an ATM”.
Celebrate Credit Union Week
SurF Alliance is a prime example of how Maine credit unions cooperate to create opportunities that benefit consumers throughout the state,” explained League President John Murphy. The SurF network demonstrates how credit unions help consumers with an unexpected need for instant cash in a world that increasingly relies on plastic, without having to pay for that convenience through a
Literacy continued from page 7 them for their efforts.” Additionally, a number of credit unions coordinate Financial Fitness - Money Management Experience Fairs, which are similar to an interactive game of life and gives high school students participating an opportunity to gain some ‘real’ world understanding of money management. There are now six major fairs in northern, eastern, central and southern Maine as well as several smaller ones in various parts of the state. Maine credit unions are also actively involved in schools throughout the state, helping Maine children develop a better understanding of financial concepts, such as balancing a checkbook, budgets, developing savings plans, credit cards and debts. In the past year, this partnership helped to expose more than 8,500 Maine children to youth financial education, including a record 2,000 high school students. “Financial Literacy is so important for our youth,” remarked Jon Paradise, Governmental and Public Affairs Manager for the Maine Credit Union League. “Maine’s credit unions are proud to be part of the educational process and to once again be presenting this program that has proven to be very popular with students. Our goal is not only to educate participants of the Financial Fitness Money Management Experience, but also to make it enjoyable for them to learn.” The Desjardins Award is named in honor of Alphonse Desjardins, the founder of the North American credit union movement. It considers all activities supporting the personal finance education of young members and nonmembers, including, but not limited to, face-to-face teaching, publicity, lobbying for curriculum requirements, teacher and volunteer training, and promotion and use of the NEFE High School Financial Planning Program. For more information about the Financial Fitness Fairs and the efforts of Maine’s credit unions on youth financial literacy visit www.mainecul. org and click on the Youth Financial Services link.
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With Your Local Credit Unions October 12-17 Maine’s Credit Unions. There is one for you. www.mainecul.org
Finance with your local Credit Union and save.
Loans Savings Certificates IRA’s
Central Maine Credit Union
1000 Lisbon Street, Lewiston • 783-1475 www.centralmainecu.com
Community Credit Union
144 Pine Street, Lewiston • 783-2096 40 Stanley Street, Auburn www.communitycreditunion.com
Great Falls Federal Credit Union 34 Bates Street, Lewiston • 782-7192 760 Minot Avenue, Auburn www.greatfallsfcu.com
Five County Credit Union
35 Ash Street, Lewiston • 800-750-0959 www.fivecounty.com
Lewiston Municipal Federal Credit Union
291 Pine Street, Lewiston • 783-3991
Direct Deposits Checking Accounts ATM & Debit Cards Home Banking
Maine Family Federal Credit Union 555 Sabbattus Street Lewiston • 783-2071 831, Minot Avenue, Auburn www.mainefamilyfcu.com
Monmouth Federal Credit Union 1176 Main Street, P.O. Box 150 Monmouth • 933-2667 • 1-933-3261 www.monmouthfcu.com
Otis Federal Credit Union 170 Main Street, Jay • 897-0900 www.otisfcu.org
Oxford Federal Credit Union
225 River Road, Mexico • 369-9976 1591 Main Street, Oxford www.ofcu.org
Rainbow Federal Credit Union
A M E R I C A ’ S
381-391 Main Street, Lewiston • 784-5435 201 Lincoln Street, Lewiston 20 Washington Street, Auburn 172 Pine Street, So. Paris 1 Lewiston Street, Mechanic Falls
www.rainbowfcu.com
Sabattus Regional Credit Union 2 Middle Road, Sabattus • 375-6538 www.sabregionalcreditunion.com
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International Credit Union Week
Sun Journal, Lewiston, Maine, Sunday, October 11, 2009
When Hard Times Hit, Credit Union Members Have a Partner in Maine CUs
In today’s economy, it can seem like no one is immune from its effects. Members of Maine credit unions, however, are not left to face these
Now More than Ever
challenges alone. Since the first Maine credit union was formed in 1921, Maine credit unions have focused on supporting members, no matter
Your Your
Money Choic e
During these Difficult Financial Times, Maine’s Credit Unions
Your Credit Union is there for you. Contact your Local Credit Union today.
how big or small their needs. Whether a member has lost their job, is unable to keep up with rising healthcare costs, or is struggling to save for a child’s college education, Maine’s credit unions are always there for their members. “Maine credit unions are about helping people, during good times and, unfortunately, difficult times. The ways in which Maine credit unions work with members through tough times is something credit unions do everyday and have done since they were formed,” explained John Murphy, President of the Maine Credit Union League. From assisting in debt consolidation, reducing interest rates, allowing skipped payments, creating loan extension plans, changing payment terms, offering special loan programs to help with the high cost of heating their homes, and providing general assistance in budgeting and financial counseling, Maine credit unions work with members to
Last spring, Maine’s credit unions joined with Maine Housing on the Gift of Green program, which offers incentives of up to $5,500 to buy a home. When combined with federal tax credits, total incentives for first-time buyers could be as much as $15,000. Pictured here at the announcement of the new program are (l-r) John Murphy, President of the Maine Credit Union League, Dale McCormick, Director of MaineHousing, and Governor Baldacci. help them through a variety of financial challenges. Such efforts are just some examples of how, throughout the state, Maine’s Credit Unions have the resources, flexibility
and compassion to help members weather any storm. For a complete list and locations of Maine credit unions, go to www.mainecreditunions.org.
Credit union Week Oct. 13-17
Join us for refreshments and prizes on Credit Union day, October 15th. Take advantage of low, low Loan rates all week long while we celebrate
your MONEY, your CHOICE your CREDIT UNION 2 Middle Rd., Sabattus, 375-6538 Remote ATM, Rte 197, Litchfield www.SRCU4U.com Member Eligibility Required.
International Credit Union Week
Sun Journal, Lewiston, Maine, Sunday, October 11, 2009
With Shared Branching, Your Credit Union is Always There! For five years, many Maine credit union members have enjoyed the convenience of using other Maine credit unions, as well as credit unions throughout the country, just as if they were their own credit union. With an increasing number of Maine credit unions becoming a part of the Shared Branching Network, your credit union is more convenient than ever. With nearly 115 locations, the network has expanded north, with shared branching locations that now include Aroostook County. Shared branching has been extremely popular with members who often find themselves far from home, and their own credit union. Whether these members are across town or across the country, having the ability to receive great credit union service without having to drive farther than needed has never been more convenient or more important. “Shared branching provides more locations to conduct financial transactions than any other financial institution in Maine, and still enables members to receive the exceptional credit union service that Maine’s credit unions are recognized for. From Madawaska to York, credit union members can find a shared branch location when they travel throughout the state, or even when they head out of state for work, vacation or school. Shared branching means that a great number of Maine’s 600,000 credit union members can use their credit union across town, across state and across the country,” explained John Murphy, President of the Maine Credit Union League. Shared branching allows members of participating credit unions to access thousands of credit union service center locations via the cooperative network of service centers in the United States and overseas. Most member services are offered at shared branching locations across the country including: account deposits; cash and check withdrawals; transfers between accounts; cash advances, loan payments, and balance inquiries. Extended service hours with weekend hours are even offered at some locations, while money orders, traveler’s checks or official checks can also be purchased at various locations.
Shared branching provides an easy way for members to conduct financial transactions, combining convenience with spectacular member service. In addition to the nearly 115 locations now in Maine, there are 4,000 locations across the country, and even internationally. This expansion of shared branching in Maine is another example of how Maine credit unions work to bring convenience to their members. In today’s economic climate, the opportunity to save travel time, effort and fuel through accessing a nearby shared branching location is extremely valuable to credit union members. For a complete listing of shared branch locations in Maine and nationwide, visit www.mainecreditunions.org and click on “Shared Branching.”
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Your Money is Safe at Maine Credit Union With financial institutions often in the news for their struggles in this difficult economy, many consumers are wondering, “Is my money safe?” As a Maine credit union member, the answer is a resounding “YES!” Maine credit unions offer something that no other financial institution can - where every member is an owner and a structure that includes unpaid volunteers who are democratically elected by the credit union’s members. These volunteers work with credit union management to conduct credit union operations in a safe and sound manner that is singularly focused on serving the members. “Maine credit unions are owned by their members. This means that each credit union is dedicated to serving the community and the people who live there,” explained John Murphy, President of the Maine Credit Union League. The National Credit Union Administration, or NCUA, is the federal government agency that charters and supervises federal credit unions. NCUA also operates and manages the National Credit Union Share Insurance Fund (NCUSIF), similar to the FDIC which insures banks. The shares in Maine credit unions are insured by the NCUSIF, which is backed by the full faith
and credit of the United States Government. The NCUSIF provides all members of federally insured credit unions with $250,000 in coverage for their individual ac-
counts. These accounts include regular shares, share drafts (or checking accounts), money market accounts, and share certificates. Individuals with account balances totaling $250,000 or less at the same insured credit union have full NCUSIF coverage. Not one penny of insured savings has ever been lost by a member of a federally insured credit union.
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COMMUNITY CREDIT UNION 144 Pine Street, Lewiston, Maine ‐ 40 Stanley Street, Auburn, Maine Phone 207.783.2096 ‐ Fax 207.783.2093 www.communitycreditunion.com *APR=Annual Percentage Rate. Proceeds of loan must be used to make energy efficient improve‐ ments in your home or for heating costs. Disbursements for loan will be controlled and checks will be made payable to specific companies. Maturity date for loan must be no later than 12/31/2010. Rate shown is before any discounts have been applied. Rate can be lowered further depending on button picked. No other discounts will apply. Offer good 10/13/2009‐3/31/2010. **To be eligible for drawing of $500 credit toward loan, your loan must be in good standing. Drawing will be held 4/1/2010. ***Free gift with each loan disbursed while supplies last. Some restrictions may apply. Subject to credit approval. Member Eligibility Required.
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International Credit Union Week
Sun Journal, Lewiston, Maine, Sunday, October 11, 2009
Maine Credit Unions’ Campaign for Ending Hunger Breaks Fundraising Record Again 2008 marked another recordsetting year for the Maine Credit Unions’ Campaign for Ending Hunger. $375,296.59, an increase of $10,000 from 2007, was raised. The Campaign has now raised over $3.1 million for ending hunger since 1990. These remarkable results marked the twelfth consecutive year that the Campaign has surpassed the $100K mark, the sixth straight year of raising $200K or more, and the third year the Campaign exceeded the $300K plateau. During the current year, Maine credit unions have been distributing these funds to food pantries and hunger organizations in their local areas. What is extremely notable about the Maine Credit Unions’ Campaign for Ending Hunger is that 100% of all funds
raised stay in Maine, and go directly to the cause, benefiting the very communities in which the funds are raised. Jon Paradise, Governmental & Public Affairs Manager for the Maine Credit Union League, explained, “This campaign continues to be an incredible example of the credit union philosophy of ‘People Helping People’ and highlights the power of people when they come together for a common cause.” Each June, the Campaign holds a ‘Share the Bread’ event, when Maine credit unions contribute $17,000, one of the largest single-day contributions to multiple hunger organizations in Maine, to organizations in every county in the state. Paradise said that more than donat-
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ing much needed funds, events like this are also about raising awareness on this critical need. “It is important for Maine people to know that hunger does exist in our state, in every county and every community,” Paradise said. To ensure that even the most rural towns receive the food they need, the Campaign partnered with Good Shepherd Food Bank in 2005 to introduce the state’s only Food Mobile, a truck able to transport over 7,000 tons of food to pantries in need. The Food Mobile continues to be an invaluable resource to Maine’s food pantries, not only because of the rise of gas and oil prices, but throughout the winter months when the truck will be able to travel to remote food pantries that may
(L-R) First Lady, Karen Baldacci, John Murphy, President of the Maine Credit Union League, and Luke Labbe, Chair of the Committee that coordinates the Maine CUs’ Campaign for Ending Hunger, are all smiles as they hold a check announcing that the 2008 Campaign raised a record-setting $375,000. have trouble sending someone to pick up food. The Food Mobile celebrates its fourth anniversary this year. For more information on how
you can help Maine’s credit unions end hunger, visit www. mainecul.org and click on the Ending Hunger link under “Community Involvement.”
Sun Journal, Lewiston, Maine, Sunday, October 11, 2009
International Credit Union Week
Maine’s Credit Unions: Most Honored Group in Educating Youth on Financial Literacy Maine’s credit unions were again recognized for their efforts in educating Maine’s youth on the importance of money management. In 2009, the Maine credit union movement again received the prestigious Desjardins Award, presented by the Credit Union National Association (CUNA). This is the seventh
Desjardins Award that the Maine credit union movement has received, making Maine the only state in the history of the award to be honored seven times. No other credit union movement has received more than three awards, and none have accomplished that feat in consecutive years.
While the dedication of Maine credit unions to this cause is evident throughout the year, it truly shines each spring, when Maine’s credit unions set aside an entire month to promote financial literacy to parents and children. Again this year, Maine’s credit unions were recognized in a proclamation from
In Maine and Around the World, Credit Unions are the Right Choice for Your Money! From October 11 - 17, 2009, more than 600,000 Maine residents who belong to a credit union will join the 184 million credit union members belonging to over 54,000 credit unions worldwide to celebrate International Credit Union Week. For 61 years, credit unions have set aside the third Thursday in October to celebrate International Credit Union Day. This special occasion gives credit unions an opportunity to remember their proud history, while promoting understanding and support for the credit union difference. Looking at all of the choices available in the financial services industry, the credit union difference is clear: no matter where you are, credit unions are 100% focused on meeting and exceeding members’ financial services needs. With credit unions, every member is an owner with an equal vote in the election of the credit union’s volunteer board of directors. There are no stockholders at credit unions, and earnings are returned to members in the form of lower rates on loans and higher rates on savings, or invested back into the credit union to provide more of the services that members need and want. Whether a Maine credit union is providing a loan to help a member make their home more energy efficient, giving financial counseling to a member whose company closed its doors, or simply offering a better deal on a used car loan, credit unions are supporting and serving their members and the community as a whole. Every day is about making a difference for Maine credit union members. Locally or internationally, during International Credit Union
Week or at any time of the year-Maine credit unions are your choice for your money. Becoming a credit union member couldn’t be easier! There is a credit union for everyone- use these tips to find the best Maine credit union for you: Visit www.mainecreditunions.org, or call the Maine Credit Union League’s Member Services toll-free at 800-442-6715. Talk to your neighbors. Some credit unions have a “community” field of membership, serving a region defined by geography
rather than by employment or some other association. Ask friends in your community if they know a credit union you may join. Ask family members. See if anyone in your family is a member of a credit union, in your community or out of state. Ask them about their experiences. Ask your boss. Your company may sponsor a credit union or may be a sponsor group that has access to a credit union. Many employers will directly deposit your paycheck to the credit union. Read the yellow pages. A display ad may state a credit union’s field of membership, or provide a number to call to ask about membership eligibility. Become a member today, and discover the value of becoming an owner of your financial institution.
Governor Baldacci that praised Maine’s credit unions for “substantially improving and increasing the financial outlook for Maine youth.” The Governor added, “The Maine Credit Union
League and Maine’s credit unions are playing a significant role in youth financial education in our state today and I applaud
More Literacy on page 3
Credit union staff assist students at one of the nearly 15 Financial Fitness- A Money Management Experience events that Maine Credit Unions coordinate each year. During the 2008/09 school year, nearly 2,000 students participated in one of these fairs aimed at helping high school students learn about personal finance and money management.
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