Who We Are

With full-service locations across the great state of Maine, we exist to serve our members, not to make a profit. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to members in the form of lower loan rates, higher interest on deposits, and lower fees.

With nearly 30,000 members and more than $360,000,000 in assets, Maine Savings is among Maine’s largest credit unions. As a growing, modern financial institution, we are able to offer our members a full range of financial services and personalized solutions - in addition to the peace of mind that comes with knowing deposits are federally insured. Our commitment is always to provide unparalleled service and state-of-the-art banking convenience.

Mission Statement and Promise Statement

Maine Savings' mission is to be a safe, sound, and secure organization providing exceptional financial solutions and extraordinary service as the preferred financial institution for all members, and to create an opportunity for our employee members to thrive in a challenging and exciting environment.

We promise to be passionate about providing extraordinary service with professional, knowledgeable people who genuinely care about your financial well-being. We will continually exceed your expectations and guarantee to treat you like you own the place, because you do!

History

Maine Savings Federal Credit Union was founded in Millinocket in 1961, as BARCO Federal Credit Union for the Bangor & Aroostook Railroad Company. The evolution and growth of the financial institution prompted the changing of our name to Maine Savings Federal Credit Union in 2001. In present day, we are one of the largest credit unions in Maine with more than $360 million in assets, nearly 30,000 members, more than 450 Select Employee Groups, and 11 locations throughout Maine in Hampden, Bangor, Brewer, Milo, Corinth, Ellsworth, Old Town, North Vassalboro, Portland, and in Bar Harbor serving employees of Jackson Laboratory.

In 1993, Maine Savings, along with six other Maine-based credit unions and the Maine Credit Union League, was one of the founders of CUSO Mortgage Corporation. CUSO is now the largest credit union mortgage lender in Maine and is one of the top 5 largest multi-owned Credit Union Service Organizations in the country.

Over the years, Maine Savings has grown into a full-service financial institution that offers all of the products and services that the large national banks offer - consumer products, commercial services, mortgages, insurance, and financial planning - but all with extraordinary member service. We’ve got funds to lend and can guarantee safety for your deposits because individual accounts are insured up to at least $250,000. Members can trust that we will stay true to our reputation of being a safe, sound, and local credit union.

Our tagline says it all: We treat you like you own the place...because you do!

Subsidiaries

Maine Savings owns (whole or in part) several subsidiaries that help better serve our members:

CUSO Home Lending - A mortgage company serving Maine through most of Maine's credit unions.
Business Lending Solutions - A commercial lending company offering businesses financing for real estate, equipment, acquisitions, and more.
One Maine Insurance - An insurance company offering coverage for home owners, businesses, autos, boats, and more.