SCARBOROUGH — Forbes, in partnership with the research firm, Statista, has released its annual list of ‘Best Credit Unions’ by state, and Town & Country Federal Credit Union was one of only three credit unions statewide to make the list and the only one headquartered south of Augusta to receive the prestigious designation. This marks the second consecutive year that Town & Country has made the list and is the first credit union in Maine to make the list three out of the four years that Forbes has compiled the list.
David Libby, president and CEO of Town & Country, called the designation “an honor that our staff and 40,000 member-owners should be proud of, especially to be the only one with the designation in southern Maine. During the past year, we have been a leader in helping our members and our communities impacted by the pandemic. Town & Country has been at the forefront of assisting and making a difference to members, non-profits and other organizations facing challenges as a result of the pandemic. We have reinforced the value of local relationships and engagement on many occasions specifically over the past year. From being the first financial institution in the state to offer a Crisis Assistance Relief Loan within days of the Pandemic declaration and the first to purchase large quantities of meals for frontline healthcare workers to launching our ‘Local Helping Local’ initiative to support restaurants, small businesses and non-profits, Town & Country has been committed and dedicated to helping in any way we could. Despite all of the challenges brought on by the pandemic, it has been gratifying to see people and communities come together and for our credit union to be helping to lead many of those efforts.”
In a statement, Forbes explained, “There are more than 5,000 credit unions in the United States with over 125 million members across the U.S. and $2 trillion in assets. Members-only credit unions typically have lower fees and offer better interest rates than traditional banks, and the nonprofit model also puts the customer first, resulting in higher levels of satisfaction. But to get to the bottom of whose customers have the highest opinion of them, Forbes partnered with market research firm Statista to produce our fourth annual look at the Best Credit Unions In Each State. Nearly 25,000 customers in the U.S. were surveyed for their opinions on their current and former banking relationships. Financial institutions were scored on overall recommendations and satisfaction, as well as five subdimensions (trust, terms and conditions, branch services, digital services, and financial advice). Of the 5,068 credit unions nationwide, just 3.6 percent made our list.”