Maine Credit Union League Weekly Update

The Maine Credit Union League and Synergent are pleased to announce the appointment of their 2025–2026 Board of Directors. These dedicated individuals bring a wealth of experience and leadership, as well as a deep commitment to the credit union philosophy of People Helping People. 

As hunger rates climb and food pantries across Maine face critical shortages, Maine Credit Unions’ Campaign for Ending Hunger has stepped in with a $236,033 donation to Good Shepherd Food Bank—providing vital support amid a sharp rise in need and recent cuts to federal food aid. The emergency donation, presented to the Food Bank on May 15 during the League’s Annual Meeting and Convention, comes as food insecurity is surging across the state.

In a narrow 215-214 vote, the U.S. House of Representatives passed H.R.1, the “One, Big Beautiful Bill,” on Thursday, preserving the credit union tax status. This outcome is a significant win for our industry and a testament to the strength of credit union advocacy.

The League’s Annual Convention, now known as Elevate, was a huge success, and while the event is now in our rearview, we will carry the benefits of the networking, learning, and inspiration generated last week for many months to come!

After nearly completing her first full year as League President, Elise Baldacci was thrilled to present her first League President’s Award to Cathy Bond, CEO at Connected CU. Bond was honored at a special ceremony during the League’s Annual Convention, now known as Elevate.

On May 16, John Doe was presented with a Special Award at Elevate in recognition of his years of service to the Maine Credit Union League and Synergent, as well as Eastmill FCU, his local credit union. Doe served as a member of the League and Synergent’s Board of Directors for 25 years and was Chairman in 2024-2025.

Credit union CEOs lead their organizations with heart, determination, and compassion. The positive impact they make on the lives of both their members and employees extends far beyond their branches. Each year, the League recognizes one exceptional credit union leader with the James M. Gratto Award, which honors an outstanding credit union CEO. We are pleased to announce that this year’s recipient is Tina Jamo, President/CEO of Katahdin FCU.

Credit union volunteers are strong supporters and advocates for both credit unions and members, and our League recognizes the important role they play in ensuring the credit unions they serve continue to meet members’ needs and improve their communities. Last week, League President Elise Baldacci was thrilled to announce Gary Desjardins, Vice Chairman of OTIS FCU’s Board of Directors, as the 2025 Outstanding Volunteer!

Casco FCU is pleased to announce the appointment of Michael McInnis as Vice President of Finance. With over 25 years of experience in corporate finance, business analytics, and front office operations, McInnis brings a wealth of expertise to the role. As a long-time resident of Gorham, he is eager to contribute to the financial well-being of his community through this new position.

May is Older Americans Month, and the NCUA’s Office of Consumer Financial Protection is hosting a webinar on the importance of preparing for retirement on May 28 at 1:00 pm. This one-hour online event will also highlight how credit unions can help their members get ready.

On May 9, consistent with Executive Order 13891, the Consumer Financial Protection Bureau (CFPB) announced that it was withdrawing 67 pieces of guidance. America’s Credit Unions provides a timely update about these actions in their Compliance Blog.

An op-ed written by Jim Nussle, President and CEO of America’s Credit Unions, was published earlier this week in Real Clear Policy. Nussle’s commentary highlights the differences between credit unions and banks, and outlines a strong case for why the credit union tax status must be protected.