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Message from the President

It’s always hard to believe that another year has gone by. Looking back on 2023 your credit union performed well financially while serving the needs of you, our members. Two major projects were completed during the year with implementation of a new home and mobile banking system. With an enormous amount of planning and effort the switch to the new system went well. We also brought online a new instant issue debit card program to replace the existing system. This project was also a success and enhances the service we offer with tap to pay capability on all of our new cards. We continue to look for ways to improve our products and services and enhance the service we provide and will do the same in 2024.

Our commitment to our community is a big focus for us and with your help and support the credit union raised an impressive amount to donate to the Maine Credit Unions’ Campaign for Ending Hunger. All of the funds raised stay within our local area which makes this effort unique and important to our communities. Thank you for your support.

Finally, I owe an enormous thank you to our team members that serve you every day. Their commitment to serving our members is the hallmark of what we do. I’m proud of them for their tireless pursuit of this goal. Thank you as well to our group of volunteers that make up our Board of Directors and Supervisory Committee for working hard to support and direct our efforts. I also want to thank you, our members, for allowing us to assist and support you in attaining your financial goals. Thank you for your trust in our ability to safeguard your assets and your commitment to our charitable efforts. Together, we look forward to a bright and prosperous New Year.

Jim Lemieux, President and CEO

What a HELOC Can Do For You

A HELOC (home equity line of credit) can be a valuable financial tool for responsible home-owners looking to leverage their property’s equity for a variety of purposes. It’s essential to carefully consider your financial goals, assess the terms of the HELOC, and ensure that you have a solid plan for repayment. When used wisely, a HELOC can provide financial flexibility and help you achieve your goals. Here are some common uses for HELOCs:

  • Home Improvements: Many homeowners use HELOCs to fund renovations or enhancements that can increase the value of their property
  • Debt Consolidation: Consolidating high-interest debt with a lower-interest HELOC can save money and simplify monthly payments
  • Education Expenses: Funding education costs, whether for yourself or a family member
  • Emergency Expenses: Having a HELOC in place can serve as a financial safety net for unexpected expenses or emergencies.

Call, visit our website, or stop by the credit union to learn more!

Sebasticook Valley FCU’s 71st Annual Meeting

Regulations require that at the Annual Meeting, Directors and Committees present the financial position of the credit union. Your credit union has a seven-member Board of Directors. This year the terms of three directors will expire. Board members whose terms are expiring in April 2024 are Don Hill, Kenneth Fredette and Steve Hawkes.

Credit unions are the only democratically controlled financial institutions. Only members may vote for the Board of Directors. Members wishing to be considered or who wish to recommend someone for the office of Director must submit a petition signed by at least 127 members (1% of the current membership) and forward to Donald Hill, Secretary of the Board, along with a statement of qualifications, biographical data, and a certificate signed by the nominee that he/she is agreeable to the nomination and will serve if elected.

The petition and information must be sent to the Board Secretary by 4:00 p.m., February 16, 2024 at 505 Somerset Avenue, Pittsfield, Maine 04967.

Elections will be conducted at the Annual Meeting. Nominations will not be allowed from the floor unless insufficient nominations have been made to allow for one candidate for each open position.

A New Year’s Reminder: Address, Phone and Email Updates Are Important!

Please make sure that we have your correct address and phone number(s) for all accounts that you have with us. If you have moved, changed from a PO Box to a rural delivery, or from rural delivery to a PO Box, we need to know. If you have changed your phone number, no longer have a landline, etc. we need to know. We would also need to know if you have changed your email address.

We will, at times, need to reach out to our members to ask about activity on their account, send important notices, or let you know about special promotions we are having. Please notify us in writing of any changes to address, phone number or email address— the notice must be signed by the primary owner of the account. Or you may change your account information in person at any time at our Pittsfield or Newport branch. Even more convenient, update your address and contact information through our Online/Mobile Banking!

We are unable to change any account information over the phone as we need a signature from the account owner.

What Won’t the Credit Union Ask You For?

Protecting your accounts is our priority. Safeguard yourself against imposter scams, and remember that we will never call you for:

  • Online banking information
  • Passwords or PINs
  • Social Security numbers
  • Mother’s maiden name
  • Address
  • Phone number

Avoid scams by hanging and calling your credit union directly. Stay safe!