As we look over the past year, it is with a sense of accomplishment and considerable pride that we report to our members. With a strong balance sheet and income statement, we were able to provide low or no cost services to our members.
Both lending and deposits were very strong this past year and we reached a new record in asset size and because of that growth, we are expanding again. In response to that growth, we have purchased a piece of land on Silver Street, on which we will begin constructing a new facility for our members that will provide better visibility and access to the community. The new building will be slightly smaller than our current Grove Street location as it will house the teller line and loan departments. We will maintain our current location as an operation center for back office functions. This is due, in part, in preparation for a larger expansion. We are pleased to report that as of April 1, 2018, we will welcome Taconnet Federal Credit Union as they will be joining our organization. What does this mean for our members? It will provide you access to two additional branch locations located in Winslow and Skowhegan, additional free ATM’s, and knowledgeable, caring staff who put our members first, just as we always have. Although some may think bigger is not always better, that isn’t the case in this instance, as the merger will allow us to offer our members’ more competitive rates and fees, which over time will allow operational efficiencies. A great accomplishment that we have worked hard to gain for our members.
Through this process, we will stay true to our mission of “People Helping People”. The simple fact is that it has been our mission that has helped us to accomplish these great feats. Over the past year, we were able to expand our financial literacy program providing our members with financial tools and resources by offering seminars and one-on-one consultations. Just a few examples of the financial services that we provide free to our members are; how to start a budget, protecting yourself from identify theft, how to buy a car, how to buy a home, how to save, understanding your credit report and credit score so that you pay less interest on your loans and keep your hard-earned money in your pocket—where it belongs. We have also expanded our free educational services to our local schools and small businesses for their employees.
We see people struggling to maintain their lifestyles and we are able to show them how even the smallest changes can make a big difference. That is what we are here for—to provide a hand up when things don’t go as planned. On behalf of the Board of Directors and staff of the credit union, we wish to thank you for your business and your continued support of your credit union.
Get a printable version of our 2017 Annual Report Here!