Maine State Credit Union
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Following the Great Depression in the late twenties, a small band of state employees got together to discuss the needs of their fellow workers and how they might be able to find a way to provide small loans to one another in times of emergency.

According to the original By-Laws, "The purpose of this credit union is to promote thrift among its members, by affording them the opportunity for accumulating their savings, and to create for them a source of credit for loans for provident and productive purposes." This original purpose has never been altered. The charter was approved on October 18, 1935.

When the credit union began, it took only twenty-five cents to join and a fully paid share was five dollars. Membership was limited to employees located in the State House building and their immediate families.

By the end of the thirties, the credit union had succeeded in enrolling 437 of the 500 potential members.

In the 1940's, the workload proved to be a problem and therefore the hours of the Treasurer were increased.

1942 was declared an unsuccessful year due to the war and loss of members and share and loan balances.

In 1944, the enactment of the Credit Union Law made it possible for the credit union to convert from a federal to a state credit union. With this change in the charter, the credit union became known as Maine State Employees' Credit Union, and at that time, the charter was broadened to include all state employees as potential members.
In 2004, the Credit Union was granted a community charter for Kennebec County, making anyone who lives, works, worships, or attends school in Kennebec County eligible for membership. At the beginning of 2005, Maine State Employees' Credit Union changed its name to Maine State Credit Union.

In 2006, Greater Waterville Area Federal Credit Union merged with Maine State Credit Union to become the Greater Waterville Area Branch of Maine State Credit Union, which also expanded our field of membership to include Somerset County.
Today, the Credit Union still embraces the core values of offering diverse products and outstanding, personalized service. To find out if you're eligible to join, click here to view our current membership requirements.
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