May 16, 2007  Reinforcing the positive economic and social impact that Maine's credit unions provide to Maine consumers, the Maine Credit Union League will hold its 69th Annual Meeting & Convention on Friday, May 18, and Saturday, May 19, at the Augusta Civic Center in Augusta with a theme of 'Maine's Credit Unions-Yes!'
'Maine Credit Unions - Yes!' was selected as this year's theme to emphasize the role that credit unions play in the lives of more than 600,000 Maine people through the financial services they provide as well as the significant role in the communities in which credit unions serve. A recent economic impact study by a leading state economist found that the economic benefit of credit unions to Maine consumers is $40 million through better rates and lower and fewer fees.
During the two-day event, Congressman Allen, Congressman Michaud and Governor Baldacci will speak to the 700 credit union representatives from across the State that will attend this year's Convention.
On Saturday, May 19, Mark Sievewright, who has worked in the financial services industry for nearly three decades and is currently the Corporate Senior VP for Market Development at Fiserv, a leading provider of information management and technology solutions to the financial services industry, will share his insight on how credit unions can continue to compete and succeed in the future.
2006 was another strong year for Maine's Credit Unions with the 69-affiliated credit unions reporting combined assets at just over $4.15 billion, loan growth remained steady increasing by 3.83%, shares (savings) had a gain of 3.72% and membership remains solid at more than 600,000 members. Today, approximately half of the Maine population enjoys the benefits of credit union membership and Maine credit unions account for two thirds of the State's financial institutions with assets nearly $4 billion in assets.
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