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About Maine Savings


Maine Savings is a growing modern financial institution offering members a full range of financial services. With nearly 30,000 members and over $300,000,000 in assets, Maine Savings is among Maine’s largest credit unions. With 10 branches, nearly 100 employees, and state-of-the-art technology, Maine Savings is committed to providing its members in-person service and modern conveniences. Founded in 1961 by employees of the Bangor and Aroostook Railroad Company, Maine Savings continues to serve its membership as a federally insured not-for-profit credit union. 

Mission Statement and Promise Statement

Maine Savings Federal Credit Union's mission is to be a safe, sound and secure organization providing exceptional financial solutions and extraordinary service as the preferred financial institution for all members, and to create an opportunity for our employee members to thrive in a challenging and exciting environment.

We promise to be passionate about providing extraordinary service with professional, knowledgeable people who genuinely care about your financial well-being. We will continually exceed your expectations and guarantee to treat you like you own the place, because you do! 


Maine Savings Federal Credit Union was born in Millinocket in 1961, only with a different name: BARCO Federal Credit Union for the Bangor & Aroostook Railroad Company. Since then, we've become one of the largest credit unions in Maine with about $300 million in assets, over 26,000 members, more than 450 Select Employee Groups, and 10 locations throughout eastern Maine: Hampden, Bangor, Brewer, Milo, Corinth, Ellsworth, Old Town, North Vassalboro and in Bar Harbor at Jackson Laboratory. The evolution and growth of the company prompted the changing of our name to Maine Savings Federal Credit Union in 2001. 


Maine Savings owns (whole or in part) several subsidiaries that help better serve our members. For more information about these subsidiaries, please visit their individual websites.

  • CUSO Home Lending Mortgage company serving Maine through most of Maine's credit unions.
  • Business Lending Solutions A commercial lending company offering Maine businesses financing for real estate, equipment, acquisitions, and more.
  • One Maine Insurance An insurance company offering coverage for home owners, businesses, autos, boats, and more.

Board of Directors and Volunteers

Don Grant

Kelly Karter
Vice Chair

David Bridgham

Vivian Gresser

Joe Young
Director and Supervisory Committee Chair

Ken White
Supervisory Committee Member

Kevin Whalen
Supervisory Committee Member

Senior Management

John Reed
President/Chief Executive Officer

Robert Carmichael
Senior Vice President,
Human Resources and Training

David Sayers
Senior Vice President,
Finance and Accounting


Marcel Blais
Chief Retail Officer

Vanessa Madore
Vice President of Risk Management

Rick Moore
Vice President of Lending