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In Maine, cooperatives are popular - very popular. That popularity is on display by the growth in all kinds of co-ops in Maine over the past few years, led by Maine's largest cooperative - credit unions. At just under 700,000 members statewide, credit unions are a visible example of what cooperatives are, the value and benefits they provide, and their unique structure which focus on member owners.
Utilizing the occasion of National Co-Op Month in October, the story of cooperatives received lots of coverage on TV, radio and newspaper. "There are hundreds of co-ops in Maine, from housing and lobsters to food and healthcare, as well as a growing number of employee-owned businesses. Leading the way for the cooperative model in Maine are credit unions," remarked Todd Mason, President of the Maine CU League, in one of multiple interviews that the Maine CU League helped to coordinate during the month. Mason's interview, which aired on WGME CBS 13 and FOX 23, highlighted the structure of member ownership that co-ops offer, and the significant benefits that using a cooperative provides to consumers. "Last year, Maine credit unions provided nearly $57 million in economic benefit to their members, in the form of lower and fewer fees, and better rates."
Doug Klopp of Cooperative Development Institute praised the leadership of Maine's credit unions in telling the story of cooperatives. "Spreading the word about cooperatives and the value that they bring to the people who use them is wonderful. Maine credit unions are doing a great job in explaining what a cooperative is, how it works and why and how members benefit. We look forward to doing more with Maine credit unions in strengthening the message of cooperatives in Maine."
In addition to Mason's interview, Jon Paradise, Vice President of Governmental and Public Affairs for the Maine Credit Union League, appeared on ABC 7 and FOX Bangor in a lengthy segment that also "reiterated the strength and benefits of cooperatives in Maine. Credit unions are the largest co-op in Maine, but cooperatives, in general, are popular in our state because Maine people seem to embrace the local, personal aspect that co-ops provide and the role that being a member-owner provides them."
The co-op story wasn't limited to TV, either, as Maine Public Radio's popular weekday talkshow, Maine Calling, devoted an entire show to cooperatives in Maine. David Libby, President/CEO of Town & Country FCU represented Maine credit unions on the show, and touched upon the fact that a co-op doesn't mean "behind the times. Maine credit unions have the latest technology and services that consumers are looking while still maintaining the personal relationship that make credit unions stand out."
Finally, cooperatives and how they work and what they mean to consumers also received significant coverage as part of the CU Week Supplements, written and coordinated by the League, that ran in all of Maine's daily papers as well as several weekly newspaper groups. Collectively, the supplements reached more than 500,000 readers through print and thousands more online.
"The economic benefits of cooperatives are significant, and more and more Maine consumers are recognizing that using a co-op is not only good for the economy but good for them, too. When it comes to financial services, using a cooperative clearly provides an advantage and we are pleased to see the growth that continues at Maine's credit unions," added Mason.