BUCKSPORT, Maine ‚Äď Kyle W. Casburn, President and CEO of Seaboard Federal Credit Union, announced that assets, loans and membership all reached record highs in 2011. Assets grew 6% to $101.3 million, an increase of $5.9 million. The credit union‚Äôs loan portfolio grew 5% to $79.6 million, an increase of $3.5 million. Membership grew 3% to 11,993, an increase of 364.
‚ÄúDespite the challenges presented by the Great Recession, the credit union was able to achieve outstanding loan growth due to innovative mortgage programs and an expansion of our small business loan portfolio. The credit union philosophy of ‚ÄėPeople helping People‚Äô really rang true in 2011 and our operating results reflected our members confidence in Seaboard FCU‚ÄĚ, said Casburn.
Anyone who lives, works, worships or attends school in Hancock, Penobscot, Waldo or Washington counties can open an account at Seaboard FCU. For more information about credit union membership and services, visit www.seaboardfcu.com.
Seaboard Federal Credit Union, founded in 1940, has more than 11,900 members and $101 million in assets with offices in Bucksport, Ellsworth and Hermon. It is ranked among the top 25 largest credit unions in Maine by asset size.
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