A Caring, Consultative Approach to Money Matters Empowers Credit Union Members to Reach Their Goals

In a Nutshell: If your bank treats you like a number, consider working with a credit union. Maine State Credit Union cares for its members, exemplified by its commitment to its branch network that allows honest conversations to take place between members and employees. The credit union also supports charitable organizations and endeavors that strengthen communities.

When traveling to a vacation destination, sometimes you discover towns or landmarks along your journey that you hadn’t anticipated finding. Maine probably isn’t one of those spots you just happen upon en route to somewhere else. Its location, in the northeast corner of the continental U.S., doesn’t lend itself to being a convenient stop on most travel itineraries.

Part of Maine’s unique charm lies in its remote location. Millions of tourists and adventurers flock to Maine every year to enjoy its picturesque seaside towns and rugged coastline. The state also offers delectable cuisine, including its seafood and wild blueberries. 

Maine State Credit Union is headquartered in Maine’s capital, Augusta, where the credit union began in 1935. We caught up with Jennifer Roper, Maine State Credit Union’s Vice President of Marketing and Communications, to learn how the credit union’s community-centered focus improves its members’ lives. 

Maine State Credit Union operates four branches and has 130 employees. Its founders started the credit union to serve employees of the state. Roper told us Maine State Credit Union expanded its membership over time by shifting to a more community-based strategy. 

In addition to serving current and retired state employees and their families, Maine State Credit Union offers membership to individuals who live, work, or worship in eight of the state’s 16 counties. Roper told us the credit union focuses on serving members in central and coastal Maine.

“The state of Maine is large, and the majority of the population lives in southern Maine around the greater Portland area where there tends to be a lot of credit unions and community banks,” Roper told us. “We focus on more of the outlying areas because peoples’ access to financial services isn’t as great there. And people still appreciate being able to come into our branches and speak to bankers there.”

Maine State Credit Union offers digital banking products that help members transact from wherever suits them best. But Roper said interactions that take place within the credit union’s branches have led its members to make successful financial choices.

“What sets us apart is that we tend to really sit down with members and look at their whole financial picture,” Roper told us. “We have conversations with them to see what their goals and aspirations are and which products are the best fit to get them where they want to go.”

Succeeding in business is challenging. One way a business can grow is by enticing its current customers to purchase more of its products and services, but businesses can also grow by enlarging their pool of potential customers.

Maine State Credit Union offers a wide range of commercial banking products to serve small and medium-sized businesses. Roper told us not many credit unions provide robust commercial banking services, but Maine State Credit Union meets the banking needs of the state’s many entrepreneurs and small business owners.

The credit union provides business owners seeking to expand their operations comprehensive support and loans to fund equipment purchases and commercial real estate acquisitions. Roper told us that providing products for members in both the consumer and commercial space helps the credit union diversify its assets.

Maine residents are the oldest in the country, which means the state has a lot of retirees. Roper told us that retirees make up much of the foot traffic that comes into Maine State Credit Union’s branches each day. The retirees keep the credit union’s tellers busy with inquiries about their balances and recent transactions, and those discussions allow tellers to identify instances of possible fraud a member may have encountered.

“Our tellers are very good at keying in on the different scams that are going on and educating our members so they avoid sending money to criminals posing as family members or romantic partners,” Roper told us. “The fraudsters are becoming more sophisticated. We really make sure our frontline employees are updated on new fraud tactics and are comfortable having those conversations that can protect our members’ money.”

Maine State Credit Union consistently assesses its offerings to ensure they meet the needs of all its members. The credit union helps members in the market to buy their first home or who are saving for a specific expense, like college or retirement. Roper told us the credit union is currently reviewing data to segment its customers based on their lifestyles and financial needs.

“In Maine, we have a lot of people who enjoy the outdoors and are always on the go, whether they’re traveling or not,” Roper told us. “Our membership tends to be quite active and sophisticated, so we make sure we have the products that fit their busy schedules. Our products are tailored so they can really be customizable to any member.”

If you think that every twentysomething owns a smartphone these days, you’d be right — almost. According to research, 97% of people aged 18 to 29 own a smartphone compared with only 76% of those who are 65 or older.

The digital products Maine State Credit Union offers allow members to open a new account or apply for a personal loan from the palm of their hand. But innovative solutions aren’t the only thing that attracts younger members to the credit union. Maine State Credit Union is involved in supporting a number of community initiatives, and Roper told us that the credit union’s young members want to be part of an organization that does good and gives back to its community.

“We spend a lot of time looking at what types of groups we can give donations to and how much we can give them,” Roper told us. “We’re not always able to give huge sums, but we can make a difference by having our employers participate in events that help our members and communities. We’ve also sponsored little league teams and youth football and soccer teams.”

In addition to drawing new members to the organization, Maine State Credit Union’s community involvement has also caught the eye of young adults looking for work. Roper said many of the credit union’s job applicants desire to be part of a team that cares about its community and walks the walk when it comes to supporting them. 

Speaking of walking, each year Maine State Credit Union hosts a 5K walk to raise money to end hunger in the state. The credit union’s efforts are part of a larger undertaking, the Maine Credit Unions’ Campaign for Ending Hunger, that brings together credit unions across the state for a common purpose. Money raised from the 5K supports food pantries, homeless shelters, and soup kitchens throughout the state.

“We also hosted a blood drive earlier in the year, and we’re in the middle of a sock drive,” Roper told us. “All the socks we collect will be donated to a local homeless shelter.”

Students learn in health class that eating healthy diets and exercising can help them become physically fit, but they aren’t always taught how to achieve financial fitness.

Maine State Credit Union employees attend school fairs and are guest speakers in classrooms to teach high school students about finances. Roper told us that, with so many ways to spend money online today, students need to understand that money is easy to spend but it’s not always easy to acquire.

Maine State Credit Union has a group of employees, known as the Financial Fitness Crew, that helps educate consumers about sound financial management. The credit union also offers seminars to help people learn how to create a budget. Roper told us two credit union employees are Certified Credit Union Financial Counselors, and they show people how to develop skills and use financial tools to make healthy financial decisions.

“We have a lot of members who are at the lower end of the economic scale here in Maine,” Roper told us. “Much of what we do each day is really just trying to help them, which doesn’t always mean suggesting they use a specific product. Sometimes it can be more helpful to just sit with them and explain things like ways they can pay off their debt and how to put financial plans in place.”

Certified Credit Union Financial Consultants can help members tackle complex money matters, but sometimes members require solutions to simpler issues. Roper told us that some of the credit union’s members need help balancing their checkbooks and learning how to track their transactions online. 

Maine State Credit Union plans to add to its branch network in 2025 and will continue to have vital conversations with its members.

“We’re strategically placing branches in locations where we have a large membership population that really needs a physical branch they can visit,” Roper told us. “That’s our approach going forward.”