Credit unions ready to assist member debt

The price of household heating like kerosene and heating oil remains so high it makes sense that credit unions in Maine are witnessing a rise in loan applications from members hoping to install appliances that will stave off the winter chill.

“Whatever ends up happening in 2023, credit unions are going into the year in a strong position to help regardless of the direction the economy may take,” according to Todd Mason, president and CEO of Maine Credit Union League, in a piece by Mainebiz. “However, we do see energy costs remaining high, and so many credit unions are offering fuel loans to help Mainers even out their expenses over the year, or install more efficient heating options.”

Mason also recognizes the present and future need for digital transformation in 2023 and coming years. “As we look into 2023 and beyond, the big expansion plans will be focused on providing more digital banking, lending and payment options.”

Consumers buckling down, “living sensibly” with financial goals in 2023

At some point in our lives, we endeavor to give fitness and gym memberships the focus they deserve at the beginning of the year in the form of New Year’s resolutions. It’s also a great time to help your members make the commitment to develop a solid, workable financial health plan to address their financial resolutions for 2023.


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