Who We Are

Who is Maine Savings?

With full-service locations across the great state of Maine, we exist to serve our members, not to make a profit. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to members in the form of lower loan rates, higher interest on deposits, and lower fees.

With over 40,000 members and more than $800,000,000 in assets, Maine Savings is among Maine’s largest credit unions. As a growing, modern financial institution, we are able to offer our members a full range of financial services and personalized solutions – in addition to the peace of mind that comes with knowing deposits are federally insured. Our commitment is always to provide unparalleled service and state-of-the-art banking convenience.

Mission

We go beyond banking, inspiring all to achieve financial well-being.

At Maine Savings, our mission is grounded in personal connection. We meet each member where they are—embracing every journey, honoring every story, and building lasting relationships rooted in trust. Through care and expertise, we empower individuals and families to reach their financial goals with confidence.

Where We’ve Been

Maine Savings Federal Credit Union was founded in Millinocket in 1961, as BARCO Federal Credit Union for the Bangor & Aroostook Railroad Company. The evolution and growth of the financial institution prompted the changing of our name to Maine Savings Federal Credit Union in 2001. In present day, we are one of the largest credit unions in Maine with more than $800 million in assets, over 40,000 members, more than 450 Select Employee Groups, and 12 locations throughout Maine in Hampden, Bangor, Brewer, Milo, Corinth, Ellsworth, Old Town, North Vassalboro, Portland, and in Bar Harbor serving employees of Jackson Laboratory.

In 1993, Maine Savings, along with six other Maine-based credit unions and the Maine Credit Union League, was one of the founders of CUSO Mortgage Corporation. CUSO is now the largest credit union mortgage lender in Maine and is one of the top 5 largest multi-owned Credit Union Service Organizations in the country.

Over the years, Maine Savings has grown into a full-service financial institution that offers all of the products and services that the large national banks offer – consumer products, commercial services, mortgages, insurance, and financial planning – but all with extraordinary member service. We’ve got funds to lend and can guarantee safety for your deposits because individual accounts are insured up to at least $250,000. Members can trust that we will stay true to our reputation of being a safe, sound, and local credit union.