2025: Quarter 1 Newsletter
Reflecting on 2024, checking on your credit, annual meeting, auto loans & more.
Reflecting on 2024, checking on your credit, annual meeting, auto loans & more.
As 2024 comes to a close, I want to start by expressing my deepest gratitude to our members.
Being a member of our credit union means more than opening an account — you’re part of a community that prioritizes people over profits. Together, we’ve built something truly special: a not-for-profit cooperative where every decision is made with your best interests in mind.
We launched our new website, celebrated 71 years of service, and, thanks to your ongoing support, continued making a meaningful impact in our community while helping you reach your financial goals. Thank you for allowing us to be your financial partner and for joining us in making 2024 a successful and fulfilling year.
This year, we’re especially proud of the ways we’ve worked together to strengthen our community. Through the Maine Credit Union League’s Campaign for Ending Hunger, we raised over $35,000 to fight food insecurity in Maine. These funds have directly supported local food pantries and programs that are making a real difference in the lives of families in need.
In October, during Breast Cancer Awareness Month, your generosity helped us fundraise for Sarah’s House of Maine and match donations at Pat’s Pink Pumpkin Sale. Your participation in December’s fun Valley of Trees festival allowed us to help the Sebasticook Valley Chamber of Commerce to give back to Family for ME, Special Olympics and American Legion. We’ve also awarded scholarships to local students and employees pursuing higher education, helping to empower the next generation and invest in the future of our community. These efforts reflect the power of our team and members coming together to champion important causes.
I’d also like to thank our dedicated employees, who work tirelessly to serve you. Their expertise, commitment, and personalized service ensure that every member feels valued and supported. A special thanks goes to our volunteers on the Board of Directors and Supervisory Committee. Their guidance and support ensure that we stay focused on our mission and remain a strong, member-centered institution. Thank you for being the foundation of Sebasticook Valley FCU. Your trust allows us to thrive, support our community, and build a brighter future together. Here’s to a prosperous and fulfilling 2025 for all.
Happy New Year!
Jim Lemieux, President and CEO
As we head into the new year, it’s a great time to check your credit report. Regularly monitoring your credit helps you spot any errors, identify potential fraud, and understand where you stand financially. You’re entitled to one free report per year from each of the three major credit bureaus— Equifax, Experian, and TransUnion. Taking a few minutes to review your credit can ensure that there are no surprises when applying for loans or credit in the future. Stay proactive and check your credit today to keep your financial health in check! By taking a proactive approach, you can start the year feeling organized, motivated, and ready to tackle your goals.
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 two directors will expire. Board members whose terms are expiring in April 2025 are Dan Costain and Elaine Lister.
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 124 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 14, 2025 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.
When it comes to financing an auto loan, choosing a credit union offers several advantages over traditional banks or online lenders. Credit unions, being member owned, prioritize the needs of their members, which often results in more favorable loan terms and better customer service.
One of the biggest benefits of getting an auto loan from a credit union is lower interest rates. Credit unions typically offer more competitive rates than banks because they operate on a not-for-profit basis and pass savings back to their members. This can save you money over the life of the loan, reducing your monthly payments or allowing you to pay off the loan faster.
In addition to better rates, credit unions often offer more flexible loan terms. Whether you’re looking for a longer repayment period or a custom payment schedule, credit unions are more likely to work with you to find a solution that fits your budget.
Another advantage is the personalized service. Credit unions focus on building relationships with their members, meaning you’ll likely receive more attention and guidance throughout
the loan process.
In the market for a new vehicle? Stop by, give us a call or check out our website at www.svfcume.com to learn more!
As we ring in the new year, it’s the perfect time to reflect, set goals, and make the most of 2025. Whether you’re aiming to improve your finances, health, or personal growth, getting a head start can help set you up for success. Here are a few tips for preparing for the new year:
1. Set Clear Goals: Take some time to think about what you want to achieve in the coming year. Whether it’s career-related, personal, or health-focused, writing down your goals gives you something tangible to work toward.
2. Organize Finances: Review your financial situation and create a budget for the year. Set savings goals, plan for upcoming expenses, and consider ways to reduce debt. Planning ahead can ease financial stress and help you stay on track. Need help with savings or consolidating debt? Give us a call—we have many options available to our members!
3. Health Check: Make your health a priority by scheduling any necessary check-ups and committing to regular physical activity. Small changes in your diet or exercise routine can have a big impact on your well-being.
4. Declutter and Organize: Start 2025 with a clean slate by decluttering your home or workspace. An organized environment can boost productivity and mental clarity. By taking a proactive approach, you can start the year feeling organized, motivated, and ready to tackle your goals.
