To honor the banks and credit unions positively impacting their communities, Newsweek and Plant-A Insights Group have released their list of America’s Best Regional Banks and Credit Unions 2025. Sixteen Maine credit unions made this year’s list and League Associate Member HRCU was included on the list of credit unions recognized in New Hampshire.

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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.

• CFPB Kicks Off Rulemaking to Help Mitigate the Financial Consequences of Domestic Violence and Elder Abuse
• CFPB Sues Comerica Bank for Systematically Failing Disabled and Older Americans
• Agencies Issue Statement on Elder Financial Exploitation

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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Between credit union fundraisers, Giving Tuesday, and the Holiday Meals for Mainers initiative, Maine Credit Unions’ Campaign for Ending Hunger has seen quite a bit of love during this season of giving thanks to the generosity of our credit unions and your members. Funds raised are sure to go a long way in supporting hungry Mainers struggling with food insecurity in communities across our state.

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On December 9, Saco Valley CU stepped up to support a 7-year-old boy in their community facing significant health problems that they were matched with through their partnership with Make-A-Wish Maine. The credit union offered a joyous bon voyage to Jackson as he and his family departed from the Portland Jetport to fulfill his Wish of visiting Disney World. With Mickey ears on their heads and colorful, handmade “Happy Wish Day!” signs, staff from the credit union were thrilled to make Jackson’s dream come true.  

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Credit unions have been working hard all year to raise funds to support Maine Credit Unions’ Campaign for Ending Hunger. With only a few weeks left to secure donations, the League is already making plans for our annual fundraising results luncheon. The event, taking place on February 10, will recognize the tremendous, collaborative effort made by our movement to address food insecurity in 2024.

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Atlantic FCU congratulates Danielle Stuart of Dayton, the 2024 Atlantic/Amable & Vivian Caron $2,500 college scholarship recipient. Currently attending Husson University, Stuart was selected from numerous entries to receive the award after submitting her application and writing a short essay about her favorite mentor.

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Downeast CU is pleased to share that Branch Manager Kaileigh Deacon has received the 2024 Arlo T. Bates Award for Volunteerism from the St. Croix Valley Chamber of Commerce. The award is presented to a volunteer in recognition of their time and effort dedicated towards serving and improving the quality of life in the St. Croix Valley.

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The Financial Literacy Blog explores the fraud risks associated with the rising using of artificial intelligence (AI) and identifies ways consumers can protect themselves from an AI scam. Credit unions are encouraged to share the Financial Literacy Blog with their members to keep them informed on schemes that can steal their money or personal information.

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Earlier this week, the NCUA issued a letter to credit union boards of directors and CEOs highlighting the risks associated with certain overdraft and NSF fee practices. The letter also outlined practices that may assist credit unions in managing and mitigating these risks.

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November was a month full of gratitude, giving back, and generosity for credit unions all across Maine! Between community holiday events, food drives and distribution for Thanksgiving, fundraisers, and other celebrations, credit unions gobbled up every opportunity to display the People Helping People spirit. Our League provides an inside look at what some of our credit unions were up to this past month.

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The Maine Department of Labor released the final rules for the Paid Family and Medical Leave (PFML) program set to begin January 1, 2025. All businesses in Maine will be subject to the provisions of the new law. The League’s Governmental Affairs team provides an update on what this means for your credit union.

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It’s hard to believe 2025 is just a couple of weeks away, and with it comes a whole new year to uplift our communities, fundraise for local charities, strengthen connections, and of course—continue to serve members and support their financial well-being. As you look ahead to the 2025 calendar year, you will want to keep in mind the below official Federal Reserve holiday occurrences to plan member service around branch closures.

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