It’s no secret that consumers love credit unions and, since 1983, have identified credit unions as the financial institution that they were most satisfied with, according to a regularly conducted American Banker/Gallup poll. The poll ranked consumer satisfaction with credit unions at 71% compared with 63% for banks.

“There are many reasons why consumers are extremely satisfied with credit unions. In Maine and across the country, consumers can count on lower and fewer fees, along with outstanding personal service. The fact that credit unions are not-for-profit cooperatives mean that credit unions are uniquely focused on the needs of the more than 600,000 Maine people who use a credit union, and consumers recognize that fact,” explained Maine Credit Union League President John Murphy.

The poll also found that consumers trust credit unions more than other financial institutions, and had a higher level of confidence in credit unions. CUs also scored ahead of other financial institutions when consumers were asked if they would look to their primary financial institution when shopping for a new financial product or service.

This appreciation of credit unions is reflected in Maine, where the most recent survey of consumer satisfaction with financial institutions found that credit unions were rated higher than other financial institutions in nine out of 12 key service categories including service, fees and rates. Based on the percentage of membership penetration in relation to population, Maine has been ranked the fifth strongest credit union state in the nation for the past six years in a row, with nearly one out of every two Maine residents belonging to a credit union.

Founded in 1938, the Maine Credit Union League is the State Trade Association for Maine’s 67-member credit unions providing a variety of services and products to assist credit unions in meeting the needs of their membership. Visit www.mainecul.org for more information.