Still Growing! Maine CUs Register Solid Third Quarter Increases
December 18, 2013
Through the first three quarters of the year, assets at Maine’s 61 credit unions increased a healthy 4% or nearly $250 million and now collectively total $6.1 billion; loans increased an impressive 5.6% for the year to $4.1 billion; and shares rose 4.3% to $5.2 billion. Finally, the popularity of credit unions continues to grow at a robust pace with membership increasing by more than 11,000 members or 1.8% to a new all-time high of 636,529 members statewide.
“These figures reinforce the fact that more consumers are not only using Maine credit unions but also utilizing more products and services which bodes well for further solidifying member relationships and usage. We are pleased that the period of growth for Maine credit unions shows no signs of letting up; we look forward to this trend continuing for 2014,” remarked Maine Credit Union League President John Murphy.
In addition to strong growth statistically, Maine credit unions continued to expand ATM access for Maine consumers with the largest surcharge-free network in Maine during the third quarter with the addition of Ocean Communities FCU to the SURF Network. The CU's five ATM locations bring the number of surcharge-free ATMs through Maine credit unions to nearly 240 statewide.