July 3, 2008 Eastern Maine's leading weekly publication aimed at young professionals, The Maine Edge, recently wrote an in-depth article that highlighted the value and benefit that Maine credit unions provide to consumers.
Distributed free every week to 15,000 readers and viewed by thousands more online, The Maine Edge's June 25th issue devoted two full pages to Maine's credit unions in an article called State of the (Credit) Union. The article interviews credit union members and credit union management and concludes, "Membership does have its privileges. With typically higher deposit rates and lower loan rates, it's easy to see why credit unions are a popular choice for consumers."
In the article, the growth of credit unions in locations and access both in Maine and nationwide is featured with the shared branch network, which now has more than 80 locations in Maine and 3,300 nationwide, praised the convenience the network provides because, as Steve Clark, President/CEO of Bangor FCU, a member of the network, explained, "Being part of shared branching gives us the ability to provide products and services to our members across the country."
"Maine consumers saved $40 million last year by using a credit union. Credit unions are an important part of the financial services landscape in Maine and one that consumers are well-served exploring and using."
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