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In the latest issue of Mainebiz, the state’s leading bi-weekly business publication, Maine CU League President Todd Mason goes ‘On the Record’ as the feature interview for that regular segment. With record-setting statistics across the board with assets, loans, savings and membership, Mason had a positive story to tell, as well as sharing his background and thoughts on the future.
In the interview, Mason covered a variety of topics including the strong credit union growth happening in the state, his thoughts on Maine’s economy, and some of the opportunities and challenges he sees for Maine’s credit unions. He also spoke about the fact that credit unions are having success appealing to younger demographics and why that may be happening. “I think it’s the structure of credit unions and what we’re all about. Credit unions got started in the early 1900s for mill workers, teachers, railroad workers, the unions and all of that. They didn’t have access to financial services, so they rolled their sleeves up and they formed credit unions to help each other out. That sense of community, that sense of sharing, that sense of working together, is still alive today. I think that part of what’s attractive to the young demographic is that credit union difference, the credit union philosophy, of people coming together to help each other out.”
Mason also said he anticipates growth of credit unions to continue. “Take a look at the way the numbers have been growing historically; the numbers are only going to continue to go up. I see with the way that the economy is, the way that employment is right now, I see a lot of positives about where credit unions are in the state of Maine and nationally.”