PORTLAND – Maine’s 62 credit union showed growth in assets, savings and loans in the first six months of the year as membership set a new record of nearly 624,000 members, according to the Maine Credit Union League.

As of June 30, 2012, combined assets at Maine’s credit unions grew by $200 million to $5.87 billion, an increase of 4.1 percent over the first six months of last year. Loans outstanding to members increased by $113 million in first six months, representing an increase of 3.1 percent over the year-ago period.

Savings rose by about 5 percent with $232 million in new deposits, while membership showed a net gain of nearly 7,000 new members, up 1.1 percent.

“The popularity of Maine’s credit unions continues to grow as demonstrated by more consumers switching to credit unions,” said John Murphy, president of the Maine Credit Union League.

“With the largest surcharge-free ATM Network in Maine, and a shared branch network that has nearly three times as many branches as any single bank in Maine, Maine credit unions are convenient and accessible for Maine consumers to conduct their financial transactions nearly anywhere and anytime,” Murphy said.

Other highlights of the mid-year report show a 76.7 percent increase in first mortgage originations and a 9.5 percent increase in used auto loans.

 

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