CEO and Chairman's Report

To Our Valued Members,

We would first like to recognize the retirement of our long time Board member, Vivian Gresser. Vivian served with distinction for 25 years. She always took her role seriously and offered extremely insightful and creative input. She served as Board Secretary for many years.

Vivian was devoted to her responsibilities and very rarely missed a meeting or function. She offered a keen eye to make sure our members were well-served. She was an advocate for our staff and a constructive voice for management in an extremely supportive manner. Thank you, Vivian, for your many years of service to Maine Savings.

VISION Credit Union management recognizes the world is constantly changing. Our specific industry is extremely dynamic in nature which makes it is ever-so-vital to have a long-term vision and chart a course to get there. With a keen awareness of our long-term plan, we can strategically review on an annual basis in a progressive, rather than reactionary manner.

Positive growth is not only good, it is critical to the best interest of our member owners, the institution and its employees, and our community-at-large.

Management is committed to meeting and exceeding our members’ needs and desires. Products and services are constantly evolving and expanding, and the cost to provide these products and services is rapidly increasing. Growth provides the financial wherewithal for your credit union to be a significant participant in the financial services marketplace.

It is imperative to constantly challenge our employees and offer them opportunities to grow and expand their careers. Talented individuals who work as a team create high performing credit unions that deliver superior service to their members. That is at the core of Maine Savings.

Being a significant leader and participant in our community is a guiding principal of your credit union. Now more than ever community-based financial institutions will play a key leadership role in providing for the well-being of our communities and its citizens.

The economic environment continues to exhibit steady, but guarded improvement on almost all fronts. All business seems to be working through staffing issues and your credit union is no exception.

Our roots and rich history are, and always will be, here in Maine. As a credit union, our total focus is on service quality and caring deeply for the financial well-being of our members. Our slogan of BANK 207 is our attempt to be clear about supporting our communities and local businesses. We live in a time when many local institutions have sold, merged, or are choosing to focus their expansion efforts outside of “207.”

• We won’t sell you out
• We won’t merge you out
• We will continue to invest in our local communities
• We will continue to welcome new members with innovative products and services

FINANCIAL STRENGTH Your credit union remains extremely strong financially, allowing us to continue to invest in our communities and in new and exciting products and services. We have experienced extremely solid growth in all areas including assets, loans, deposits, earnings and capital. We continue to invest in our most important asset - our valued team of hard working, smart, and devoted employees. We are only as good as the people who work for us, and they happen to be the best in the state.

SAFETY AND SOUNDNESS Unfortunately, fraud continues to be rampant, but we remain diligent in continually updating our fraud protection mechanisms. We invest heavily in the best technology, equipment, systems, and people to make your credit union as safe and secure as possible.

Who would have thought that we would still have to say that COVID remains ever-present and is continuing to create issues for your credit union, as it is for so many people and businesses. It is ever-changing and presents many challenges, most notably the ability to properly staff all of our facilities.

We hope you are all doing as well as can be expected during these times and we send our heartfelt thoughts and prayers to all who have been affected over the last few years.

FULL SERVICE Through our partnerships with our subsidiaries, we remain statewide leaders in offering innovative full-service financial solutions.

CUSO HOME LENDING CUSO Home Lending remains one of the top mortgage lenders in all of Maine, and CUSO is now licensed in Maine, New Hampshire, Massachusetts and Florida. Our ownership in CUSO ensures that our home lending products are competitively-priced and have the backing of an extremely knowledgeable team of professionals. Our lenders have years of experience and offer personal service to all of our communities.

BUSINESS LENDING SOLUTIONS Business Lending Solutions supports our small business lending efforts in our local communities. We are active commercial lenders with many years of experience with a wide gamut of business products and services to meet your every need.

ONE MAINE INSURANCE One Maine Insurance is our full-service insurance agency, offering all lines of insurance for consumers and businesses alike. We have had a long-term, and successful partnership with FA Peabody offering competitively-priced insurance products and services.

MAINE WEALTH PLANNING Maine Wealth Planning is our financial planning division. We offer wealth management services, including retirement planning, estate planning, and income tax reduction strategies. Free consultation can be arranged to guide you through this important service. We are extremely pleased that Maine Wealth Planning now has beautiful new offices located at our full-service branch on Broadway in Bangor.

BANK BOLD and BANK 207

The Maine Savings Amphitheater (The Amp) Our investment in the Maine Savings Amphitheater is a prime example of what we mean with our tag lines of BANK BOLD and BANK 207. We took a BOLD move to sponsor the naming of the largest, most progressive venue in all of Maine, and perhaps the country. The focus is on (207), where we all live, work and play.

COMMUNITY AND CHARITABLE GIVING Community is a huge part of our culture at Maine Savings. Our team is known as the “go to” bankers in all of our communities and we all contribute time and money toward the many charitable organizations within our state. There is nothing more important than being relevant, community leaders and we’re very proud of our commitment.

Again, your credit union remains financially strong and committed to leading Maine in offering the most creative and progressive financial products and services. Thank you for your continued business and remember to… BANK BOLD, BANK 207, BANK MAINE SAVINGS.

Respectfully, John Reed, CEO Don Grant, Chairman