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Throughout the course of the League’s Annual Meeting & Convention, League President/CEO Todd Mason outlined his vision for Moving Maine Forward and the special role Maine’s credit unions play in making our state the best place to live and work. By providing our members the tools they need to improve their financial lives, achieve their career and personal goals, and give back to their communities, Mason’s presentations demonstrated how credit unions can improve Maine’s financial health.
Mason discussed a framework focused on three pillars: economy, community, and people. He then outlined how credit unions can work within these three pillars to help Maine meet its full potential while also positioning credit unions as thought leaders in the state.
Credit union efforts to improve Maine’s economy will include initiatives designed to expand and improve Maine’s workforce, including the support of small businesses and emerging industries, as well as efforts to attract and retain new workers and businesses to Maine. Under the community pillar, Maine’s credit unions will continue to work with underserved communities and at-risk populations and remain committed to ending hunger.
Finally, Maine’s credit unions can expand what is currently being done to help people make smarter financial decisions by broadening the reach of our financial literacy programs to include job and education opportunities and sharing information about the availability of safe and affordable financial services for people of all ages. The League will be collaborating with industry partners in the coming months to update the state’s Senior$afe program – a curriculum which has been helping credit union employees recognize the signs of elder financial abuse for years.
The first initiative of the campaign, which credit unions can participate in starting as early as mid-June, will center on workforce development through the creation of a new loan program for students enrolled in the Maine Energy Marketing Association’s (MEMA) Technical Education Center’s HVAC program. MEMA’s program is not accredited by a national organization, making it difficult for students to obtain funds to pay for this course. The loan, which could be replicated to suit other types of vocational training programs (including some that are accredited), will allow students to borrow money to enroll in the program and defer payment until after they fulfil the program’s requirements.
The League will be sharing a more detailed description of the Moving Maine Forward framework in the weeks ahead, outlining specific tactics credit unions can execute to support the campaign’s three pillars. Within the next two weeks, the League also will be working with credit unions on the roll-out of the new workforce development loan program.
Credit unions own a stake in shaping Maine’s future. Through innovation and collaboration, credit unions can be drivers for positive change here in Maine. By accepting this responsibility and building upon the important work credit unions are already doing in their communities, our network will grow its membership and help members thrive for years to come.