Maine Savings Federal Credit Union was founded in Millinocket in 1961, as BARCO Federal Credit Union for the Bangor & Aroostook Railroad Company. The evolution and growth of the financial institution prompted the changing of our name to Maine Savings Federal Credit Union in 2001. In present day, we are one of the largest credit unions in Maine with more than $500 million in assets, over 30,000 members, more than 450 Select Employee Groups, and 11 locations throughout Maine in Hampden, Bangor, Brewer, Milo, Corinth, Ellsworth, Old Town, North Vassalboro, Portland, and in Bar Harbor serving employees of Jackson Laboratory.
In 1993, Maine Savings, along with six other Maine-based credit unions and the Maine Credit Union League, was one of the founders of CUSO Mortgage Corporation. CUSO is now the largest credit union mortgage lender in Maine and is one of the top 5 largest multi-owned Credit Union Service Organizations in the country.
Over the years, Maine Savings has grown into a full-service financial institution that offers all of the products and services that the large national banks offer - consumer products, commercial services, mortgages, insurance, and financial planning - but all with extraordinary member service. We’ve got funds to lend and can guarantee safety for your deposits because individual accounts are insured up to at least $250,000. Members can trust that we will stay true to our reputation of being a safe, sound, and local credit union.