There's More in Maine CU members’ pockets

For nearly 20,000 members of two Maine credit unions, 2011 began with a surprise deposit - a year-end rebate and bonus. Members of Otis Federal Credit Union and Acadia Federal Credit Union received rebates totaling in excess of $700,000. For members of both credit unions, the gesture did not go unnoticed. One Otis FCU member remarked, "This is wonderful, and again highlights why I joined a credit union."

For Otis FCU, this is the sixth consecutive year the credit union has paid an interest refund and bonus. At the start of the New Year, the credit union returned nearly $350,000 to its members in the form of a 6% bonus on dividends earned in 2010 and a 6% interest refund on all loans including VISA credit cards.

Acadia FCU gave its members a 7% rebate on dividends and loan interest, which translated to approximately $350,000 in funds returned to its members. Dave Desjardins, President/CEO of Acadia FCU, explained, "We had a financially successful year despite the problems with the national economy. Our belief is that our members make us successful so we should share that success with them whenever possible. It's our way of saying 'thank you.'”

Jon Paradise, Governmental & Public Affairs Manager for the Maine Credit Union League, said about 10% of the nation's credit unions paid a year-end rebate and bonus in 2010. "However, all credit unions reinvest in their members throughout the year through better rates, fewer and lower fees, and enhanced products and services. Otis FCU and Acadia FCU are both to be commended for being able to return close to three-quarters of a million dollars to their members. In this economy, that is quite an accomplishment."


-Jess H., Maine Credit Union League