In today’s economy, it can be difficult to know where to turn for help. Members of Maine credit unions, however, know that they have a partner they can always rely on. Since the first Maine credit union was formed in 1921, Maine credit unions have focused on supporting members, no matter 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 every day and have done since they were formed,” explained John Murphy, President of the Maine Credit Union League

One challenge that credit unions have recently helped members tackle is the high cost of fuel. A survey conducted by the Maine Credit Union League found that more than two-thirds of the state’s credit unions are offering special fuel and/or energy loans to help keep staying warm affordable for thousands of Maine consumers.

Murphy explained that the special loans again demonstrate “the commitment of Maine’s credit unions to helping the more than 611,000 Maine credit union members, especially during difficult economic times.  As member-owned financial cooperatives, credit unions are about the needs of their members and this is yet another example.”

Other ways that Maine credit unions have helped members weather tough times include assisting in debt consolidation, reducing interest rates, allowing skipped payments, creating loan extension plans, changing payment terms and providing general assistance in budgeting and financial counseling.

For a complete list and locations of Maine credit unions, go to www.mainecreditunions.org.

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