Life after graduation: there’s more to learn about finances

Let’s face it, paying back student loans is by far the worst part of college; I would rather sit through another semester with my dull, monotone American History professor than deal with repaying my loans. While I was lucky enough to get a full time job a few weeks after graduating, finding extra money in my budget for student loans is difficult enough, add in rent, food, credit cards and other expenses and it can feel like your budget is stretched to the max.

I’ll admit that I am not the best at balancing a checkbook or making a budget, so there are ways that I’ve been trying to improve. I started by using Mint.com to analyze where I was spending my money. The graphs I was able to make showed my spending habits and where I needed to cut back. By analyzing my spending and switching my payment plans for my loans, I will be able to start saving money instead of spending it.

So while this might not be where I pictured myself financially a year after graduating, at least this past year has showed how and why I need to take more responsibility for my finances. I know there are more resources out there to check out, and that credit unions are always there to help.


Jess H., Maine Credit Union League

There’s more for you to do this summer without blowing your budget

Is it just me or do people really spend more money during the summer months? Between trips to amusement parks, going out to eat and shopping for summer essentials, I spend a ton of money during the warm summer months. So this summer I’ve decided to make a list of activities that won’t require me to break open that emergency piggy bank of spare change.

1. Go to the Beach… and bring your own snacks. Maine has a ton of beaches, and going to the beach is free and can be an enormous amount of fun for friends, family and colleagues. Also, during the summer months the beach will be full of people of every age, creating an environment and atmosphere for everyone to enjoy. Just make sure to pack your own lunches and snacks in a cooler. Being prepared with drinks, sandwiches and other items will save you money on concession stands and restaurants that are near the beach.

2. Have a movie night. Whether you use Netflix or a Redbox, renting movies is as easy as ever. Get a group of friends together and have everyone bring a movie, either from their own collection, or something rented and make an evening of it. Personally, my friends and I love B-list horror movies, so every few weeks we rent a movie, make some popcorn and prepare to mock some awful acting.

3. Workout in your neighborhood. My neighbor organized a weekly walk/run in my town, every Saturday morning a group of people will get together and walk/run through various trails and hiking paths in and around my town. Not only is this free, but it is a great way to get fresh air, exercise and connect with your neighbors.

4. Host a BBQ. This can easily be done on a budget. Offer to supply the location, grill and main dish, and have everyone bring a side dish or dessert. Not only will you get to hang out with friends, you never know when someone will bring a new recipe that you will love.

5. Break out the board games. When was the last time you played a board game? Dust off your favorite game, and call some friends; you’d be surprised how quickly Pictionary becomes competitive.

Jess H., Maine Credit Union League

Success by Committee

Hopefully, Maine consumers have been able to realize that credit unions across the state value sharing with one another. Whether it’s an idea, a laugh or a tear, we let each other know about it. Not only do our relationships create a higher level of service and convenience to our members, they allow us to enjoy the camaraderie of being cooperative in nature. In other words, we have fun together! This is evident with the expansion of the Shared Branching and SURF (Surcharge Free ATMs) Networks.

However, these same folks may not realize that this particular concept of sharing is an important goal among credit unions. It helps us successfully develop our organizations for the future. This goal is further explained as an effort to move toward high collaboration and low competition between interdependent units.

Let me explain how credit unions are doing:

1.) High Collaboration – Like never before, credit unions are pooling together their resources to serve members at large. With Shared Branching and SURF, they can actually go into or visit different—yet participating—credit unions to conduct certain transactions or use a free ATM. We also contribute to promoting the credit union message as a whole throughout the state. I’d say we’re getting pretty good at highly collaborating!

2.) Low Competition – It is more important for a person to stay a member of A credit union rather than become a member of OUR credit union. We just feel that a credit union is a place that will benefit everyone. This thought process enables us to freely open our facilities to those in the Shared Branching Network. Need I say more?

3.) Interdependent – Basically, this term means that even though unique organizations function separately, they depend on each other for greater success. As more and more credit unions join hands, a strong and secure financial option emerges—thus becoming more appealing for a lot more Mainers. Have you ever heard that there is strength in numbers?

It sounds to me that Maine credit unions have adopted a very proactive approach to the way they do business. We want to succeed. We want to grow. We want to help more Mainers. We will partly achieve this through good, old fashioned teamwork.

Who wouldn’t want to be part of a financial group like this? GO TEAM!

-Ryan O., Lisbon Community Federal Credit Union

Maine Credit Unions’ “Share It” Competition Helps CU Bring Hope to Children in Need

When Community Credit Union, located in Lewiston, ME, was revealed as the winner of Maine Credit Unions’ “Share It” competition, it was not only the credit union that came away with a prize. In this statewide contest, credit unions that are a part of the Shared Branch Network were asked to create their own “Top 10 List” on why to use Shared Branching, or what they love to share. Community CU’s entertaining film with an old fashioned, black and white movie look, which acted out 10 different ways Shared Branching benefits members, won the competition, and with that $500 to share with a charity of their choice. The credit union chose A Family For Me, a collaborative program with the Maine Department of Health and Human Services that serves as Maine's statewide recruitment initiative for foster and adoptive families.

“We allowed our employees to vote for the organization and they chose A Family For Me,” Kerry Wood, Executive Vice President for Community Credit Union, explained. “We have an employee who lived in many foster families throughout her life and from her stories have learned the value of this program and its service.”

“Currently in Maine, 155 children are waiting for an adoptive family,” said Grace Cleaves, Executive Director for A Family For Me. “This donation will help us connect potential adoptive parents with children whose only wish is to be a part of a family.”

For a complete listing of Shared Branching locations in Maine, visit the Shared Branching section of www.mainecreditunions.org. Or, for a listing of the thousands of nationwide locations, visit www.cuservicecenter.com.

-Diana D., Maine Credit Union League

Maine CUs Lend Imagination to Lending a Hand

When it comes to helping others, Maine credit unions not only go the extra mile in their efforts to make a difference, they also strive to find unique ways to capture the attention and creativity of their communities by raising funds in new and different ways! This week, two special events focused on a cause close to Maine credit unions, Ending Hunger. On June 7, the Maine Credit Unions’ Campaign for Ending Hunger shared two types of “bread,” the kind used for toast, and the kind used to buy food, with two food pantries in each Maine County at the sixth annual Share the Bread event. A total of $17,000, one of the largest, single-day contributions to multiple hunger organizations ever in Maine, was presented that day.

On June 8, one credit union raised funds for the cause by hitting the greens, armed with not golf clubs, but Frisbees for a Disc Golf Scramble. While skill levels ranged from getting a “hole in one” to many discs finding their ways into bodies of water, the good spirits and significant funds raised for Maine’s hungry made every toss worthwhile!

-Diana D., Maine Credit Union League