Structure, popularity of credit unions in Maine highlighted on statewide radio show

August 17, 2017

Credit unions are the only true co-op in financial services, as credit unions are member-owned and member-focused," stated Todd Mason, President of the Maine Credit Union League, when speaking about credit unions during an appearance on Maine Public Radio's hour-long talk-show, Maine Calling, recently.

Mason spent much of his time focused on the popularity of credit unions in Maine and the many benefits they provide to Maine consumers.  "With nearly 690,000 members statewide, Maine credit unions connect with consumers.  Last year, Maine consumers saved nearly $57 million by using a credit union because of rates and fees.  In addition, Maine credit unions assist a number of small businesses who can't get loans from a bank," he explained, citing an example of a logging company in Aroostook County that was able to grow because of a credit union.

Other topics covered on the show were the growth of fraud, cybersecurity, financial literacy and the changing landscape of financial services.  "It was great to have the opportunity to talk about credit unions and touch upon a variety of important issues to a statewide audience," added Mason.