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BANGOR, Maine – The $140 million Maine Federal Credit Union was recently highlighted for its member business lending success and other programs in the Bangor Daily News. The credit union, which is the largest in the state with 25,000 members and 300 SEGs, added business lending to its fold in 2003. According to the recent article, small business owners make up a large part of our membership and the decision to launch the new division was based on membership demand, said MFCU President/CEO John Reed. Dennis Harriman, MFCU’s vice president of commercial services and a Maine resident, brought a “wealth of knowledge in the commercial lending arena,” Reed told the publication. “The only reason we’re here is to provide services to our members. We’ve built a top-notch commercial division with the full array of services, commercial loans and deposit products,” Reed said. The article also highlighted the success of a MFCU member who has been with the credit union since 1992. When Deborah Roope opened her salon in 1994, she opened her first business account with the credit union as well, the article said. Today, Roope owns D.L. Roope Administrations, Inc., a business that administers national board exams for recent cosmetology school graduates in Maine, New Hampshire, Missouri, and Washington. “At this point, no loan is too large for us because of the participation lending – or cooperative relationship – we have with a number of credit unions,” Harriman told the publication. “The smaller commercial loans are just as important to us as the large ones. These are the loans in which so many other institutions are no longer interested, but our members are demanding.” MFCU offers a full range of products and services, from commercial deposits, lines of credit, term loans, equipment loans, and SBA loans.

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