Based on figures from the Bureau of Labor Statistics, which calculates the value of one hour volunteered in Maine at $16.36, the value of the time volunteered by Maine’s credit unions equaled just under $392,000 in 2009.
According to the Maine Credit Union League, which coordinates the program, more than 2,000 individuals, including credit union staff and board members, spent time volunteering in their communities this past year. In 2009, the Program averaged 1,995.45 hours volunteered per month, a 14 percent increase over the previous year, with an average of 190 volunteers participating, a 13 percent increase compared to 2008. Credit Unions Share for ME tracks and updates the volunteer efforts of credit unions on a monthly basis.
In 2009, three credit unions in Aroostook County participated in the program including Acadia FCU in Fort Kent, Madawaska and St. Francis (322); NorState FCU in Madawaska, Ashland, Eagle Lake, Fort Kent, Presque Isle and Van Buren (1,130.5); and The County FCU in Caribou, Fort Fairfield and Presque Isle (605.50).
“Whether it is volunteering to help end hunger or in the classroom teaching financial literacy, Maine credit unions are active in the communities they serve. The credit union philosophy of ‘people helping people’ is not just about financial services but also about community-service. Credit unions were started by volunteers and are still governed by a democratically-elected, unpaid, volunteer board of directors and being involved is a strong part of the credit union culture,” explained John Murphy, president of the Maine Credit Union League.
Jon Paradise, governmental and public affairs manager for the Maine Credit Union League, provided some examples of the types of volunteer activities credit unions do throughout the year. “Community-service initiatives range from serving on non-profit boards to serving meals at a local soup kitchens as well as a number of other activities and causes,” Paradise stated.
Paradise also said that these figures are only the documented figures provided by participating credit unions so the actual number is likely significantly higher but we are pleased with the growth the program experienced in the past year.
This program began during National Volunteer Week eight years ago so the previous year’s figures at this time each year. It highlights and recognizes the hundreds of individuals who volunteer and are involved with causes and activities in their communities throughout the year.
Record-breaking year for Maine’s credit unions
Three Aroostook County CUs part of volunteer efforts
In recognition of National Volunteer Week (April 18-24), the Maine Credit Union movement’s unique volunteer program called Credit Unions Share for ME released the final results of volunteer efforts by Maine’s credit unions in 2009, and the amount of hours credit unions spent volunteering in their community. The eight year-old, award-winning program documented an 23,945.50 hours volunteered by credit union staff and directors from Jan. 1 – Dec. 31, 2009, the second highest mark in the program’s history. Since it began in 2002, the program has documented nearly 150,000 volunteer hours by credit union staff and directors.
