From humble beginnings, your credit union has grown over the years to be your full service financial institution. Originally chartered in 1961 as the Howland-Enfield Federal Credit Union by seven visionary leaders of our community to serve the “Residents of Howland, Maine, and within a 5-mile radius of the Howland, Maine, Post Office; and employees of this credit union.” These seven individuals; Robert M. Neal, Bourcard Nesin, Stephen Faloon, John C. Swett, Philip E. McPhail, John F. Henderson, and R. Woodrow Faloon, all of Howland, raised the original capital necessary to open the credit union by each purchasing one share at $5.00, for a total of $35.00. The credit union was originally operated out of one of the houses of the founders, and later moved into a rented location on Water Street in Howland, and provided basic share and loan accounts.
Over the years your credit union has petitioned for, and been awarded, expansions in it’s field of membership to include the following areas:
Abbot, Alton, Argyle, Atkinson, Bowerbank, Bradford, Brownville, Burlington, Cambridge, Cardville, Carroll, Charleston, Chester, Corinna, Corinth, Dexter, Dover-Foxcroft, Edinburg, Edinburg, Enfield, Exeter, Garland, Grand Falls, Greenbush, Guilford, Hopkins Academy Grant, Howland, Hudson, Kingsbury Plantation, Lagrange, Lake View Plantation, Lee, Lincoln, Long A Township, Lowell, Macwahoc Plantation, Mattamiscontis, Maxfield, Medford, Medway, Milo, Monson, Newport, Nicatous, North Yarmouth Academy Grant, Olamon, Parkman, Passadumkeag, Ripley, Sangerville, Saponic, Seboeis Plantation, Sebec, Shirley, Springfield, St Albans, Summit Township, Veazie Gore, Webster Plantation. Wellington, West Enfield, Willimantic, Winn, Woodville. The Townships of Barnard, Blanchard, Elliotsville, Grindstone, Herseytown, Katahdin Iron Works, Molunkus, Orneville, Soldiertown and Williamsburg; and more!.
At the same time we have grown a bit; to an average asset size of approximately $8,000,000.00. While growing to our current size, it became necessary to expand our offices. So, in 1991, we moved into our current location on Coffin Street in Howland. Although we have expanded, increased our asset size, changed locations, and faces have changed, through the years we have remained committed to providing services to assist the financial well being of our members. This is evidenced by our mission statement, which still remains in force today. It states – The mission of the Howland-Enfield Federal Credit Union is to offer to our present and potential membership any and all services, which will enable them to consider us as their primary financial institution. We will seek to maintain the financial stability and steady growth of our credit union, while adhering to the credit union philosophy of “People Helping People”.
Through the years, we have added additional services in an endeavor to achieve our mission statement. In order to offset the cost of these additional services, and to help cover the increase in the cost of living (or in our case the cost of operations), we had to increase the value of one share. So, in 1999, the credit union amended its charter to increase the par value of one share from $5.00 to $15.00. This slight increase helped support these new services, and ensured our ability to continue to meet our members ever changing needs. There have been a few other changes over the years, some better than others, however, we are still YOUR LOCAL credit union, where YOU HAVE A VOICE.
We welcome you to stop by and visit our office, speak with our friendly staff, and join us. See why we say, “The Howland-Enfield Federal Credit Union. . .Different, Because We Care!” Once you experience the credit union difference you will be glad you joined our Family Tree.
