December 17, 2008 Three Maine credit unions were among the high-performers in a recent ranking report conducted by a national research firm that studies credit unions. According to Callahan & Associaties of Washington, D.C., Bangor Hydro FCU, Gardiner FCU and Otis FCU were in the top ten in two measurement categories that help determine how credit unions do in returning value to their members.
In the Return to Borrowers index, which rewards credit unions that offer lower rates on loans and also considers the historical growth in lending and the variety of products on offer, Hampden-based Bangor Hydro FCU and Gardiner-based Gardiner FCU were ranked 6th and 7th, respectively, among credit unions with assets of $10-$20 million.
In the Member Service Usage category, which measures how efficiently a credit union provides and promotes services to its members, Jay-based Otis FCU was ranked 7th.
John Murphy, President of the Maine Credit Union League, said the fact that Maine credit unions are "consistently in the top among their peers across the country reinforces the strength of Maine's credit unions and the focus that our credit unions have on serving the 600,000 consumers in the state who use a credit union."
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