“You become an owner the minute you become a member. When you open an account and buy one share for $5. That’s all it takes, every member gets one vote, regardless of the balance of their account, or the amount they borrow,” stated Ken Hensler, president of the County Federal Credit Union, an established financial institute for the past 53 years.
Credit unions are not-for-profit cooperatives owned by their members, governed by unpaid, volunteer boards of directors, elected from and by the membership.
With a combined staff of 31 full-time employees and a part-time staff of six at three locations. Hensler stated, “We take pride in the fact that we are loyal and serve the needs of our members in 21 communities throughout central Aroostook County. An investment in the CFCU is truly a local experience.”
The County Federal Credit Union makes available to its members a wide variety of services including retail banking services which encompass online banking, checking, debit cards, savings, certificates of deposits, personal loans, home equity and business loans, auto loans, mortgage loans and its newest service — shared branching. “We provide services for anything offered within the financial world,” Hensler added.
Shared branching involving participating credit unions across the county and in other countries, represents a convenient service where credit union members are able to walk into a participating facility and complete their banking needs.
“If you are going on vacation and didn’t have a chance to cash a check or make a payment at your local credit union, you can go to another credit union, in another city, state, in Canada or in some instances other countries, and as a member, you can complete your transactions, with no hassle, as if you were doing so at your local credit union, stated Hensler.”
Hensler added that within Aroostook County, more than 8,000 shared branching transitions have taken place. There is no fee for this service and it is available at credit unions from Fort Kent to Kittery.
Hensler stated that customer service is what enables us to continue to grow and County Federal Credit Union has reached the top of the growth level with more than $10 million in assets.
“The County Federal Credit Union is a community based institution,” stated Hensler. “If you live or work in the area, or if you have a relative that lives in the area, then you can become a member.”
