CEO and Chairman's Report
To Our Valued Members,
Maine Savings celebrates its 65th Annual Meeting this year. We proudly serve people in Maine and those who call Maine their home. Our investment in technology ensures that we continue to serve those who have moved farther away and still choose us to journey with them through life’s milestones. Please watch “The History of Maine Savings” video contained in this Annual Report, it does a nice job showcasing our successes over the last 65 years.
We celebrate the one-year anniversary of our Mission and Vision. Our mission is focused on the people we serve and are honored to support, thus ensuring We go beyond banking inspiring all to achieve financial wellbeing. Our vision is bold and people focused on the goal of being here for another 65 years, Leading Maine. Serving Maine. The best choice for Maine.
Our branch network is growing and thriving, ensuring that we continue to meet our members where they need us. We celebrate the opening of our third location in Bangor on Stillwater Avenue modifying our business hours at this location to better align with the needs of our members. We continue to invest in our community branches with new signage, renovations, and improving access with much needed groundwork. We are committed to ensuring each location looks and feels like Maine Savings, making our members and employees proud of the space they conduct their banking and where they serve our members.
We proudly employ over 175 individuals who come to work each day striving to help each person who crosses their path, honoring our credit union roots with the goal of “people helping people.” Our employees are an essential part of our organization, and we value them and their contributions to our success. We feel honored that our employees selected us as an employer who has earned the designation as a Best Place to Work again this year.
Our employees are committed to helping our members and the people in our communities and volunteer throughout the year, showing up and serving, bringing smiles, supporting non-profit organizations and events that they care about. Gifts of time are the most important in the work we do, especially when giving back and our employees gave back over 1,500 hours of volunteer time in 2025!
Our commitment to non-profit organizations grew when we launched the Maine Savings Foundation, our 501c3 non-profit organization. Five grants were awarded to five non-profit organizations giving $25,000 to these organizations: Adoptive & Foster Families of Maine, Bangor Public Library, Harold Alfond Youth & Community Center, Maine Needs, Inc., and Partners for Peace. Meaningful and impactful contributions are our focus through the Foundation and changing lives of Mainers is an important result. We look forward to continuing our efforts in 2026 and awarding another five grants.
Our efforts in the community are noticed, and we proudly accept recognition from two non-profit organizations:
- Helper of the Year – Eastern Area Agency on Aging
- Winner’s Circle - Heart of Maine United Way
Our members are why we exist and we continue to celebrate with you through Member Appreciation Events and hosting other community events. In 2025 we hosted three branch appreciation events: Portland, Hampden, and Vassalboro. We also hosted three business after hours events in these communities: Ellsworth, Vassalboro, and Hampden. We continue to host appreciation events and strive to have an event at each location on a recurring and rotational basis.
Financial stability and growth are vital for our continued success, and we proudly maintained our place as the second largest credit union in Maine at year end 2025. Our loyal and dedicated members ensure that we keep growing and flourishing and this is showcased in our 2025 financials. Asset growth exceeded $53 million, ending the year at over $845 million in assets achieving a new milestone for Maine Savings, exceeding $800 million in assets! Our member loans grew over $25 million, ending our year with over $660 million proving that we consistently provide necessary resources to our members. It is important to us to have competitive rates for our members who invest with us through share certificates, and we successfully increased our member shares by over $36 million, ending the year with shares of more than $698 million. Financial security is essential for sustainability, and we proudly report strong net income and capital in 2025. Net income was over $3.4 million, and capital was over $65 million. Maine Savings continues to thrive and boldly states “we are safe, sound, and secure!”
In conclusion, Maine Savings is successful because of our dedicated and compassionate employees, our loyal members, our supportive community partners, and our committed and engaged volunteer officials: Board of Directors and Supervisory Committee members. It is an honor and privilege to serve you all.
With Abundant Gratitude, Vanessa Madore, CEO & President Don Grant, Chairman