Maine Credit Unions ‘Keep ME Warm’ With $30,000 Contribution | Business

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Maine Credit Unions ‘Keep ME Warm’ With $30,000 Contribution
Maine Credit Unions ‘Keep ME Warm’ With $30,000 Contribution

In response to an urgent need to help offset cuts to the federal low income Home Energy Assistance Program, known as LIHEAP, Maine’s credit unions made a collective contribution to the “Keep ME Warm” Program of $30,000.  The Keep ME Warm Program is a collaboration of the ten United Way organizations in Maine and the ten Community Action Programs.  The contribution will purchase nearly 9,000 gallons of fuel for families across Maine.

In presenting the check on behalf of Maine’s credit unions, John Murphy, President of the Maine Credit Union League, applauded the willingness of Maine’s credit unions to come together in a “cooperative effort.  Credit unions are located across Maine and have members in every community. To credit unions, helping members goes far beyond just providing financial services, it means so much more.  The opportunity to help families in communities throughout Maine heat their homes speaks directly to what credit unions are all about.  We are pleased that the impact will be felt statewide.”

Upon receiving the contribution for the “Keep ME Warm” Program, Suzanne McCormick, President and CEO of United Way of Greater Portland, said, “We know families and senior citizens are struggling to heat their homes and stay warm this winter.” Maine’s credit unions’ generous contribution to the Keep Me Warm Fund comes at a critical time and will help people throughout Maine.”

Murphy said the contribution to the “Keep ME Warm” Program came at the suggestion of credit unions wanting to do something as a group.  “The contribution came together in less than 72 hours with credit unions readily pledging funds to help,” he added.
 
The “Keep ME Warm” Program is part of an ongoing effort by Maine’s credit unions to help consumers heat their homes. This past fall, nearly two-thirds of the state’s credit unions offered special energy loans with an average rate of 4%, with some credit unions offering energy loans at 0%.  Maine credit unions set aside nearly $5,000,000 in funds for energy loans for the 2011/12 heating season.