PORTLAND — With across-the-board growth in all measurement categories including another new record for membership, the popularity of Maine’s credit unions continued to grow in 2014.
According to recently released year-end statistics of Maine’s 60 credit unions, as reported by the Maine Credit Union League, assets, loans and savings all saw healthy increases during the past year.
All four credit unions with ties to Aroostook County reported growth and ranked in the Top 20 in asset size, including: University CU, which has a branch in Presque Isle, ranked sixth at $255 million; The County FCU, based in Caribou and with branches in Fort Fairfield, Houlton and Presque Isle, 10th at $196 million; NorState FCU of Madawaska, with branches in Ashland, Eagle Lake, Fort Kent, Presque Isle and Van Buren, came in at 13th with $175 million in assets; and Acadia FCU, based in Fort Kent with other branches in Ashland, Madawaska, St. Agatha and St. Francis, came in 20th at $132 million.
Reflecting on the 2014 statistics, John Murphy, president of the Maine Credit Union League, called them “further indication that Maine’s credit unions are the financial services provider of choice for many Maine consumers. Since 2008, when most experts agree that the great recession began, Maine’s credit unions have added a net total of more than 55,000 new members.”
