Maine Credit Union League Weekly Update

The League is committed to helping credit unions succeed and improve the financial lives of their members—accomplished through advocacy, outreach, education, and a plethora of resources including our newly relaunched strategic planning program.

CUSO Home Lending is pleased to announce it has opened registration for its upcoming annual event. Now is a great time to reserve your spot to attend the 2025 Residential Lending Mortgage Expo. The event will take place on March 20 from 8:00 am – 4:30 pm at the Woodlands Club in Falmouth.

Compliance is an incredibly important focus for credit unions within the industry—including here in Maine. To help your staff gain crucial insights and ensure they’re on top of the latest trends in compliance, the League is offering a two-day Compliance Conference on March 17 and 18 at the Hilton Garden Inn in downtown Freeport.

The League invites you to join us for our first Town Hall of 2025, featuring Mark Treichel with Credit Union Exam Solutions. Our online event will take place on February 24 at 1:00 pm and focus on compliance.

Is your credit union leveraging the resources found on League InfoSight? If you aren’t, you should! A snapshot of the topics available in this week’s InfoSight newsletter are below. To access the newsletter, click the Read More link.

• The Fourth Issue 2024 of Consumer Compliance Outlook (CCO) Is Now Available
• Hill, Scott Lead Effort to Roll Back Biden-Era CFPB Overdraft Rule
• Corporate Transparency Act Reporting Requirements Back in Effect with Extended Reporting Deadline; FinCEN Announces Intention to Revise Reporting Rule

Maine Credit Unions’ Campaign for Ending Hunger has been selected to receive a $1 donation for every $2.50 Fight Hunger Bag sold at Hannaford Supermarket’s Westbrook location during the month of March. The store is located at 7 Hannaford Drive (Westbrook). If your credit union has a branch located within a short drive from this location, we hope you will consider sharing information about this unique fundraiser.

Maine Family FCU is proud to announce a $30,000 donation to Trinity Jubilee Center to support the installation of a walk-in freezer in its new building under construction at 123 Bates Street in Lewiston. This essential upgrade will significantly enhance the center’s capacity to serve the community by storing and distributing perishable food to those in need.

Every credit union employee plays a pivotal role in uplifting those they serve, no matter how long they have called the credit union industry “home.” The League hopes you will help us recognize this excellence within your credit union by nominating a deserving peer for the John G. Murphy Rising Star Award. This award was created to celebrate one individual within the first eight years of their credit union career that is passionate about and dedicated to advancing Maine’s credit union movement.

Cumberland County FCU is pleased to announce the following team addition and employee promotions: Bethany Smith has been hired as the Vice President of Accounting; Amy Sithavady has been promoted to Vice President of HR & Compliance; Kimberly Parker has been promoted to Vice President of Service Center Operations; Abby Strout has been promoted to Cards Manager; and Margie Heald has been promoted to Branch Service Manager in Yarmouth.

The League joins PeoplesChoice CU in mourning the loss of Leo Simard, who served on both the credit union’s and the League’s Board of Directors. He passed away peacefully on February 16.

HRCU has announced that it is now accepting applications for its 2025 scholarships program. This year, HRCU will offer a record 15 $1,000 scholarships to local students. It will also offer $1,000 awards to students of employees. Recipients will be honored at an event at HRCU’s headquarters in June.