Maine CUs Push for Financial Outreach
Donna Steckino, president/CEO of Community Credit Union in Lewiston and Auburn, testified on behalf of the Maine Credit Union League at a public hearing before the Insurance and Financial Services Committee in Augusta. Steckino testified in support of L.D. 1649, a bill aimed at aiding the state's low-income families.
The bill would create a working group, which would include a credit union representative, and focus on developing and marketing starter accounts with features that would benefit low-income families; educating low-income families without accounts about the benefits of account ownership and encourage those families to open accounts. It would also aid in educating and assisting low-income families with basic money management skills and create coalitions of financial institutions, financial regulators, municipal officials and nonprofit corporations to market starter accounts to low-income families.