Maine credit unions post overall gains

WESTBROOK – Maine’s credit unions posted healthy increases in all major categories – assets, shares, loans and membership – during the first six months of 2008, according to the Maine Credit Union League.

Assets at the credit unions increased 5.86 percent, loans grew by 2.22 percent, and shares, or savings, were up by 6 percent during the period, the league said. Meanwhile, membership at Maine’s credit unions grew by nearly 5,000, to 600,000 statewide.

“During these difficult economic times, credit unions remain a safe and sound option for quality, low-cost financial services for consumers, said John Murphy, president of the league.

Formed in 1938, the Maine Credit Union League is the state trade association for Maine’s 67 affiliated credit unions. For more information, visit www.mainecul.org.