The November Credit Unions Trends Report is now available. The report is published and distributed by Steven Rick, TruStage™ Director and Chief Economist. It provides a monthly “pulse check” on the state of the credit union marketplace, analyzing data from September 2024.

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With 2025 officially underway, the League is busy preparing our year-end calculations for Maine Credit Unions’ Campaign for Ending Hunger. We are once again hoping for 100% participation from all our credit unions. If your credit union has not contributed to the Campaign, it is not too late to donate to our signature philanthropic effort.

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This week, the League was pleased to welcome the Maine Bureau of Financial Institutions (the Bureau) and Maine state-chartered credit unions for an update and discussion between regulators and regulated entities. Of the twelve state-chartered credit unions, eleven were able to send representatives. Superintendent Lloyd LaFountain brought five members of his staff and was also accompanied by Acting Commissioner of Professional and Financial Regulation Joan Cohen. The Bureau provided updates on all of their areas and then took questions from the audience.

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As we wrap up 2024 and look toward 2025, League President Elise Baldacci shares a holiday message to credit union team members and volunteers. Through their essential roles, credit unions improve the world around them and uplift the financial lives of their members.

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

• Become a Beta Tester for InfoSight360
• CFPB Issues Final Rule on Overdrafts
• CFPB Uncovers Illegal Practices Across Student Loan Refinancing, Servicing, and Debt Collection
• CFPB issued a Final Rule related to residential Property Assessed Clean Energy (PACE) transactions

InfoSight is FREE to League credit union employees as a benefit to membership and provides state and federal compliance and operations resources. Please contact the League if you need assistance accessing InfoSight.

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The holidays are a wonderful time of year to focus a little extra on generosity, kindness, and showing love to those around us. After a year full of uplifting Mainers through financial wellness, fundraising, volunteerism, and so much more, Maine’s credit unions do not falter when it comes to joining in on the festive fun. If your credit union is looking for a way to get involved and give back during this season of giving, the League presents 20 different ideas and opportunities you can consider! 

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On December 16, Velera announced the winners of its Velera Miracle Momentum Awards to support Children’s Miracle Network Hospitals. The MaineHealth Barbara Bush Children’s Hospital was selected as one of 20 hospitals who will be receiving a $10,000 donation. The donation will be made on behalf of Atlantic FCU, Five County CU, New Dimensions FCU, and Town & Country FCU. Each of these credit unions nominated the Portland, Maine-based hospital for the award.

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Seasons greetings to our credit unions. We hope you experience a joyous holiday! Thank you for your partnership and trust—we look forward to continuing our work with you in 2025. Please note, there will be no Weekly Update shared next Friday. Our next edition will be distributed on January 3, 2025.

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The League is excited to share that our 2025 calendar of trainings and events has been posted to our website. This carefully curated lineup of workshops, webinars, and training sessions will equip your team with the skills and insights needed to navigate emerging challenges, enhance operational efficiency, and deliver exceptional member service.

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America’s Credit Unions most recent Compliance Blog highlights updates to the Treasury Check Verification System or TCVS. The post shares information about recent updates to the TCVS’s API portal and how these changes can aid in fraud prevention.

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PeoplesChoice CU is pleased to announce several key leadership promotions that reflect the organization’s commitment to growth, excellence, and member success. Luke Labbe has been promoted to Chief Executive Officer of the credit union; Adam Warfel is stepping into the role of President; and Alex Makinen has been promoted to Vice President of Human Resources.

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Mark your calendars for the eighth annual Synergent Connect Conference, taking place in Portland August 11-12, 2025. The two-day event will again bring together credit unions from across the country for networking and educational sessions about topics that are impacting our industry.

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