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Article: MAINE CREDIT UNIONS REPORT MODERATE INCREASES IN ASSETS\ MEMBERSHIP GROWTH REMAINS SLOW BECAUSE OF RESTRICTIONS, BUT THAT MAY CHANGE NEXT YEAR.
- Article from:
- Portland Press Herald (Portland, ME)
- Article date:
- September 24, 1998
- Author:
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By Dean Lunt Staff Writer
Portland Press Herald (Maine)
09-24-1998
BUSINESS
Maine's 89 credit unions registered moderate increases in their assets in
the second quarter, but membership growth remained slow because of
restrictions preventing them from opening membership to new employee groups.
For the second quarter ended June 30, the total assets of all credit unions
in Maine was $2.42 billion, compared with $2.28 billion for the same time last
year, an increase of 6.5 percent.
Overall, total credit union membership grew 1.8 percent to 571,130 members
as of June 30.
Membership growth is expected to accelerate early next year because a
federal law approved in August allows credit unions ...