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ANNUAL SUPPLEMENT TO THE SUN JOURNAL APRIL 11, 2009
2009
FINANCE PROFILE
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P R O F I L E 2009
Sun Journal, Lewiston, Maine, Saturday, April 11, 2009
P R O F I L E 2009
Sun Journal, Lewiston, Maine, Saturday, April 11, 2009
Gregory Strong and safe money strategies for retirees ... offered through local seminars By Elizabeth Webster Freelance Writer
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nterested in protecting your retirement money and finding safe ways for that money to grow and provide income? Then plan on attending an upcoming seminar on that subject with well-known retirement planner Gregory Strong. Strong has been helping fellow Mainers with their financial and retirement plans for more than three decades – since Sept. 1, 1975. In fact, more than 13,000 people have met with him to discuss their financial and retirement concerns. Many Lewiston-Auburn area retirees have attended Strong’s popular financial seminars and workshops. Upcoming is Strong’s “Financial Concerns For Retirement” seminar at Marco’s Restaurant in Lewiston on April 23 at 5:15 p.m. Anyone who is retired or retiring soon and looking for some great financial ideas for their money can register for this workshop simply by calling Strong’s Yarmouth office at 846-0734; or call him toll free at 877-692-3979. “I offer education and am interested in helping people who are retired, or are thinking about retiring, understand their financial choices. Attendees at my seminars have come up to me afterward to say that they appreciated my straight talk. They said it made it easier for them to understand their financial choices and that they liked my advice on how to make their money work safely for them,” Strong explained. The experienced retirement planner offers no obligation consultations to people age 55 and older, and conducts these oneon-one meetings at his various locations in Lewiston, Yarmouth, Portland, Saco, Naples and Augusta. Strong can easily list the costly mistakes that retirees commonly make.
“I’ve seen these same issues and concerns come up over and over again in my 33 years of practice. They include not understanding how to avoid and reduce the devastating costs of long-term care. Left unchecked, these costs could exceed $60,000 annually,” Strong stated. The retirement planner says many retirees don’t properly plan their 401K, IRA and other retirement plans which causes them to leave too much of their hard earned money to taxes or probate fees. “Proper distribution planning – one of my specialties – is key to maximizing money to one’s family and minimizing taxes,” Strong commented, noting that improperly set up retirement plans “could lose 30 percent, 40 percent or more to the IRS.” Not understanding safe ways for money to grow and provide income is another mistake cited by the retirement planner. Strong teaches conservative concepts to protect retirees’ money. Strong pointed out that, “Procrastination is the single biggest mistake that retired people make – putting off decisions. Too often I see people who set up their retirement strategies a few years ago and then never revisit their plan or their advisor never gets back to them. Consequently, they don’t keep up with how their money is doing and all the choices that are out there.” Strong highly recommends that retirees not put off reviewing their financial picture. The retirement planner said that retirees and those considering retirement “should take advantage of all the education and information that is out there. That is why I offer the seminars and the follow-up consultations that explain important strategies and offer solutions.” Strong invites area residents concerned with “safe money management” and estate planning issues to join him at one of his upcoming seminars or for a one-on-one consultation by calling his office toll free at 877-692-3979. Securities offered through Mutual Service Corporation. Mutual Service Corporation and LPL Financial are affiliated companies and are members of FINRA/SIPC.
40 Forest Falls Drive, Yarmouth; 207-846-0734.
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P R O F I L E 2009
Sun Journal, Lewiston, Maine, Saturday, April 11, 2009
Champoux Insurance:
Never business as usual By R ich Livingston Freelance Writer
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t’s personal. It’s family. It’s community. It’s tradition. Champoux Insurance has been providing a wide array of protection to individuals, families and businesses for more than half a century by being dedicated to their slogan, DELIVERING ON THE PROMISE “Delivering on the Promise.” It’s a 416 Sabattus St. ~ Lewiston ~ (207) 783-2246 promise, explains Agency Production www.maineinsuranceonline.com Manager Dick Albert, that is fulfilled by a staff of more than 30 people in five family-owned and operated offices straFounded in 1954 by Maurice and Pauline tegically arrayed around Maine, people who Champoux, the agency operated from 215 Pine are totally dedicated to the safety, security and Street in Lewiston until relocating to Sabatpeace of mind of all their customers. tus Street in 2003. The year 2009 will be the Whether the need is to protect home and 10th anniversary for agency president Diane property, vehicles, recreation equipment, speChampoux Iannotti, who took over for her parcial collections; whether there’s a need for life ents in 1999. or health insurance, disability or long-term Today, Champoux Insurance, Champoux Ficare; a variety of financial services including nancial Services, and affiliated Rogers Insurannuities, IRAs, 401-(K) plans, mutual funds, ance of Lisbon Falls and Brunswick, Pinkham stocks and bonds; or specialized business inInsurance of Farmingdale and People Insursurance, the agencies of Champoux Insurance ance of Ogunquit are among the few remaincan design exactly the right kind of coverage. ing family-owned independent insurance “Over 80% of our new business comes from agencies in Maine – increasingly rare in an referrals,” Albert explains, “and that’s imindustry that was until recently dominated by portant to us for lots of reasons. Most of all, it such companies. means that our clients are pleased with what “The fact that we all live here, we are all conwe’ve done for them. It means that many of nected to the communities we serve, we are our clients combine their personal needs, all active in community affairs, and that as a and those of their families, with those of their company we are still family oriented and combusinesses, as well. We can provide them with mitted to serving our clients with complete whatever they need, and that’s gratifying to dedication, is really important,” says Albert, us, too.” himself a former Lewiston city councilor. “These communities are our homes, too. We care about where we live, we care about our friends and neighbors, and so we care deeply about providing the very best products and service possible.” Champoux’s clients are about evenly divided between businesses and individuals or families. While the agency staff has experience in virtually all the kinds of businesses in Maine, they have specialized in auto dealers and repairs; the hospitality and restaurant industries; schools; contractors, including performance bonding; churches and other non-profit organizations; manufacturers; printing and publications; real estate; retailers; transportation services; and professional services. The firm can supply property, liability, workers’ comp, professional liability, bonding, and all sorts of specialized coverage.
CHAMPOUX INSURANCE
Champoux Insurance group
“The promise we deliver on,” says Albert, “is the promise to take care of you. We’ll make sure you have the right coverage, at the best possible price, and that if you ever do have a claim, that it gets settled quickly and efficiently and that you can get on with your life. We live here, too, and we have, now going on to the third generation. We take our business personally.”
The generations behind family-owned Champoux Insurance agencies, from this undated photo, back row from left, Tim Pinkham, Diane Champoux Iannotti and Brenda Rogers. In front are Muriel Pinkham, Murice Champoux and Jack Rogers.
P R O F I L E 2009
Sun Journal, Lewiston, Maine, Saturday, April 11, 2009
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Let’s grow together: New logo symbolizes growing philosophy By Dave McL aughlin Freelance Writer
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hroughout its 71 years of member-centered service, Oxford Federal Credit Union has helped thousands of members meet their savings and investment goals, and lending needs, through the long standing culture of credit unions – “People Helping People.” From its humble beginnings in 1938 on the docks of the Oxford Paper Company to where it has evolved today, Oxford Federal Credit Union has remained true to its mission of building lifetime financial relationships by offering quality products and personalized service to the communities it serves – which is anyone who lives, works, worships or attends school in Oxford County. With an eye to the future, while preserving a successful past, Oxford Federal Credit Union will be introducing a new logo that some members and staff say reflects the credit union’s progress and growth. The fresh new-look logo, with a planned unveiling of April 15 at the Annual Meeting of the Membership, is one element of a comprehensive branding plan designed to position Oxford Federal Credit Union as the preferred financial
institution in Oxford County. The new logo which will be unveiled in April also helps illustrate our pledge to customer service. Our new tagline is “Let’s Grow Together.” We chose this tagline to reinforce to our members that we are there for them. We want to be a part of their success as much as they are a part of our success. We want to help our members grow too, and how do we do that? With excellent customer service. “We involved the entire staff in discussing Oxford Federal Credit Union’s readiness for change and later sought their input on specific logo designs,” Steven Hildebrand, marketing coordinator at OFCU said. “Our process brought far greater consensus for this design than any of us anticipated. Our staff has a great affection for the logo and its tagline – ‘let’s grow together.’ The ‘tree’ in the logo resonated with the employees, who like the sturdy branches which continue to grow, and the colorful leaves are representative of our wonderful members.” Oxford Federal Credit Union has been serving the community since 1938 by providing low-fee financial services and unparalleled customer commitment, always
working to preserve members’ assets while providing financial services to meet members’ needs. “Our members are also owners, helping each other offer lower interest rates on loans, higher interest rates on deposits and other competitively priced financial services,” Hildebrand said. In September of 2009, OFCU will move it’s Oxford, Maine office of Oxford Federal Credit Union to Norway, Maine, having recently purchased the former Ketner Pharmacy property, located at 54 Fair Street in Norway. The new office offers plenty of parking, easy accessibility, a spacious and private interior for member transactions and a drive-thru and night deposit box. Whether our members utilize the main office in Mexico or the branch office in Oxford, they are owners of the business and can all take advantage of the many benefits of membership – like the compassionate, professional service from local decision makers, and the practical, convenient services needed to accommodate the busy financial lives of our members. Being a resident of Oxford County can bring you to Oxford Federal Credit Union, but our friendly service and countless benefits will help you stay a member of the Oxford Federal Credit Union family.
Two locations: 225 River Road P.O. Box 252 Mexico, Maine 04257 Tel: (207) 369-9976 1591 Main Street Oxford, Maine 04270 Tel: (207) 743-2638 Toll Free: 800 991-9219 New home of Oxford Federal Credit Union’s Norway office Former Ketner Pharmacy building
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P R O F I L E 2009
Sun Journal, Lewiston, Maine, Saturday, April 11, 2009
P R O F I L E 2009
Sun Journal, Lewiston, Maine, Saturday, April 11, 2009
Growth council works to create jobs, opportunities in L-A
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Lewiston-Auburn Economic Growth Council
he term “economic development” means different at the Maine Real Estate and Development Association’s Anthings to different people. For many, it’s a phrase nual Forecasting Conference in Portland. that often generates blank stares, polite nods, or As part of its popular community image and awareness general glaze-over. campaign called “L-A: It’s Happening Here!” WGME-13 and For the staff of the Lewiston-Auburn Economic Growth LAEGC recently produced and aired a 30-minute promotionCouncil, however, the definition is quite simple. In a nutal video on Lewiston-Auburn. The production aired on WGshell, it’s about creating jobs, encouraging local investment, ME-13 on three consecutive Saturdays, and was also made and increasing the local tax base. into a promotional DVD. The LAItsHappeningHere.com LAEGC accomplishes these ends by providing four basic Web site also continues to attract hundreds of visitors, and services: site search assistance to clients who want to expand is regularly updated with the latest festivals, entertainment, or relocate a business to the Twin Cities; technical assisand arts events. tance, such as directing clients through a permitting process LAEGC’s two signature events, the Business to Business or compiling market research; gap financing; and marketing Trade Show and its Annual Dinner and Business Forum, and public relations support, whether in the form of special have both grown in size and stature each year. The B to B events planning for clients or for community-wide marketshow is the state’s largest one-day business event, attracting Council has been quite busy over the past 12 months. In De- nearly 2,500 attendees and nearly 200 exhibitors. ing. “Most people are familiar with some of our projects and cember, Merrill Lynch celebrated a ribbon-cutting ceremony This year’s trade show, slated for June 11 at the initiatives, even though they may not know that LAEGC was after locating on the third floor of the Business Service Cen- Androscoggin Bank Colisee, has as its theme, “Recharging behind them or partnered in making them a reality,” says ter. The marketing director has been working with the new Your Business.” Among the highlights of the show will be Lucien Gosselin, LAEGC president. “When we tell people Marriott Residence Inn to help with marketing and public a contest to win a 2010 Toyota Prius, sponsored by Emerson we’re the agency that partnered with city officials and the relations efforts for the new extended-stay hotel in Auburn. Toyota. Qualifying contestants have to guess the number of Chamber to transform the old Pontiac Building into the Busi- At the Auburn Industrial Park, a second project is nearing batteries located in the car trunk in order to win the car. ness Service Center at Keybank Plaza, or that we organize completion, this time a warehouse for a large agribusiness The LAEGC Annual Dinner, tentatively slated to take the annual Androscoggin Business to Business Trade Show, soon to be announced. place May 14 at the Ramada Conference Center, features a Meanwhile, staff is working with the Lewiston Develop- prominent keynote speaker to be announced. The event also or that we’re the gatekeepers of the “L-A: It’s Happening ment Corporation to build a spec building on Forrestal Street includes a forum for the cities of Lewiston and Auburn to Here!” campaign, that usually strikes a chord.” Operating out of a new central business center at 415 Lis- in Lewiston. LAEGC staff also oversees several properties present the winners of their annual Economic Achievement bon Street with its sister agencies the Lewiston Development owned and managed by the L-A Railroad Company, and con- Awards. Corporation, the Auburn Business Development Corpora- tinues its mission to preserve the rail corridor along downLAEGC is also involved in marketing the area’s burgeontion, and the Lewiston-Auburn Railroad Company, the orga- town Lewiston where Railroad Park is located. The Growth ing distribution and logistics industry through various nization has a much broader scope, a longer client list, and a Council also recently delivered a presentation focusing on strategic planning and marketing efforts, including pursuL-A’s renaissance to 500 real estate industry representatives heftier asset portfolio to manage than it did ing business connections with Atlantic Canada when it first opened for business in 1981. and broader international trade and shipping LAEGC currently manages about $16 milconnections. The area’s distribution and logislion in total assets (mostly from its sister tics potential is one reason the Growth Council corporations, which LAEGC staffs), manapplied for and received a Foreign Trade Zone ages 29 outstanding loans to clients big and designation, a federal program allowing qualifysmall, oversees a Foreign Trade Zone, maning companies that conduct international trade ages the aforementioned property at 415 Listhe option to save, defer, or eliminate tariffs on bon Street, coordinates a number of special imported goods or raw materials. projects, and serves on about 50 committees Perhaps equally as important is the behindor boards through its five staff members. the-scenes business advocacy and community Among some of the recent projects support the Growth Council provides. LAEGC LAEGC has worked on include: providis immersed in transportation planning; advoing site location assistance to distribution cating for community assets such as the area’s and logistics companies including FedEx, colleges, hospitals, and arts organizations; and Estes Express, and Bisson Transportation; assisting the two cities with long-term goals helping the Auburn Business Development including downtown development and retail atCorporation to develop the new Auburn traction. Industrial Park; helping to land the giant “Some people measure our success in dollars Wal-Mart Distribution Center, a nearly and cents, or the number of tax dollars gener1-million-square-feet facility; and partnerated by companies expanding or relocating ing with the city of Lewiston, LDC, and the here,” says Paul Badeau, marketing director. Androscoggin Land Trust to develop a wet“Others measure our success in terms of job lands mitigation program. creation. Both of these are rightful indicators, LAEGC-assisted companies have paid but there’s a third measure, and it’s a bit more more than $18 million in taxes, and the elusive. At the end of the day, we need to be able number of people employed by LAEGC-asto justify that our work makes a substantial and sisted companies totals more than 15,000. sustained difference to the quality of living and Standing, left to right: Loan Portfolio Manager Ken St. Amand, Despite a nagging recession, the Growth working in the Twin Cities.” President Lucien Gosselin, Economic Development Specialist George Dycio; sitting, Staff Accountant Stephanie Lewis, Marketing Director Paul Badeau.
415 Lisbon Street, P.O. Box 1188 Lewiston, ME 04243-1188 Phone: 784-0161 Fax: 786-4412
www.economicgrowth.org
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Sun Journal, Lewiston, Maine, Saturday, April 11, 2009
Seniors Financial Planning Group:
Retire and Enjoy Life By R ich Livingston Freelance Writer
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he fact is,” said Richard Theriault, principal financial advisor of Seniors Financial Planning Group, “that most people spend more time planning a vacation than they spend planning for retirement.” At the same time, he explained, those who do plan adequately to retire are always able to enjoy a more comfortable post-retirement lifestyle than those who fail to plan, regardless of whether they have any assets when they become eligible for Social Security and Medicare. “We’re retirement dream facilitators,” Theriault explained. “We want retirement to be as enjoyable and carefree for everyone as possible. We don’t want folks to have to worry about their financial well-being.” While this is a notion that may have particular resonance in this troubled economy, Theriault says that retirement issues have been complicated by the fact that people are simply living longer than they used to, and longer life spans sometimes carry new health issues, as well. People who might have expected to live 15 or 20 years after retirement can now look forward to 30 years, or more, of retirement. Seniors Financial Planning Group is a unique service that works only with retirees or those within months of retiring. “It’s never too soon to start planning,” Theriault said, “and we welcome a chance to provide advice to 45 or 50-year olds. We’ll help point them in the right direction with a free consultation, then advise them to come back to us before they actually retire. That’s when we do our most important work.” Planning typically includes an assessment of Medicare, long-term care, and a wide variety of investment options that minimize risk while providing long-term growth and a current income stream. Most programs designed by Seniors Financial Planning Group operate with far less risk than market-based investments, although there are some available
which can be market-driven, as well. “We don’t advise people about how to plan for college expenses, for example,” is how Theriault explained the unique practice. “We don’t provide long-term, aggressive marketdriven advice. Our concentration is exclusively with those who are just about ready to retire right now and who don’t have years to watch investments grow slowly.” “We advise people to strike a balance between their immediate financial needs and their longer term interests such as wealth transfer to their loved ones upon death, which is of the utmost importance in the planning process,” Theriault said. CRFAs are specialists in retirement planning. Theriault has completed the rigorous training and certification process of the Society of Certified Retirement Financial Advisors and has earned the coveted Certified Retirement Financial Advisor (CRFA)® designation. Seniors Financial Planning Group sponsors a series of FREE workshops that deal with the broad scope of retirement issues, as well as a series of more topical, narrowly-focused workshops that deal in greater depth with particular issues. Those attending workshops often have many questions and are offered a FREE hour consultation with Richard to answer any questions they may have regarding their individual situation. Other FREE services for seniors include a consultation with an attorney on what they call ‘Lawyer’ day. This is when an attorney is made available at their office to answer any and all questions regarding wills, trusts, and probate. Seniors Financial Planning Group even provides discounted tax preparation services to seniors with simple returns. “Did you know,” Theriault asked, “that lots of people actually pay more taxes after they retire than they did while they were working? That doesn’t have to happen!” Most people work all their lives for the chance to stop working. Seniors Financial Planning Group is there to make sure they can retire when they like and how they like.
Richard Theriault sits with Brigitte Laliberte, office manager, and Jason Theriault, associate, to review new financial strategies.
Testimonials
“I think he’s honest. There’s no question that he’s helped me greatly. He helped me hang onto what I’ve got – not only principal protection but my gain too.” – Mr. R. Audet, Sabattus
“Richard answered all of our questions and gave us a lot of information we didn’t know about social security, how to save on taxes, and health insurance. He really pays attention to us and gives us prompt service. Everyone should go to one of his workshops…really!” – Mr. & Mrs. M. Laroche, Lewiston
“One of the best things I’ve ever done was to attend this workshop. Richard saved my house and my finances.” – Mr. G. Albert, Lewiston
www.sfpg.biz 179 Lisbon Street Lewiston
207-514-0294
Sun Journal, Lewiston, Maine, Saturday, April 11, 2009
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P R O F I L E 2009
Sun Journal, Lewiston, Maine, Saturday, April 11, 2009