Over 660,000 Mainers are saving money every year just by choosing to be a member at one of Maine’s Credit Unions. But just how much money are they saving? A recent study found that loyal Maine credit union members are saving $1,253 annually per household and members are collectively saving $38 million per year. These collective savings are put together from earnings that are returned to members in lower loan rates, higher interest rates on deposits, and lower fees!

Maine Credit Union League President John Murphy said that the credit unions’ ability to focus on saving member’s money make credit unions an increasingly viable and valuable option for Maine people. “The credit union philosophy of putting the interests of members first continues to highlight the difference between credit unions and other financial institutions. Credit unions are owned and operated by and for their members, so all members benefit from better rates and lower and fewer fees. That is a key and distinct difference of credit unions.”

To find a credit union near you, visit www.mainecreditunions.org.

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