July 2, 2009 As the United States marks its 233rd birthday this July 4th, the spirit and principles on which this country was founded are many of the same principles that Maine's credit unions were founded nearly 90 years ago. Credit unions remain member-owned, democratically-governed and independent financial institutions that operate for the members. When credit unions were founded in America 100 years ago, it was under circumstances similar to those facing the patriots back in 1776. Credit unions were founded by their members to serve their members because there were a number of individuals who were turned away by other financial institutions. Left with no alternative, small groups of individuals came together in a spirit of cooperation to form financial cooperatives known as credit unions. The spirit and philosophy of credit unions, not just in Maine but across the country, remains clear - people helping people.
John Murphy, President of the Maine Credit Union League, remarked, "The past year has been historic in many ways but, as we celebrate this Fourth of July, the value and benefit of using a Maine credit union are greater than ever. From surcharge-freedom with more than 200 SurF ATMs to freedom of choice with a shared branch network offering more locations than any other financial institution, there has never been a better time to be a credit union member."
From the 600,000 Maine people who are part of the Maine credit union family to your family, have a safe and happy Fourth of July!
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