Keeping close community ties
and expanding services
Oxford Federal Credit Union operates much the same way it did 65 years ago when first squeezed inside the loading dock of Oxford Paper Company. Maintaining close family ties to the community has been the foundation of the financial institution. Still, as technology advanced, so did the credit union’s services to its members.
Today close to 14,500 members enjoy the same member service, but with the convenience of online banking. Anyone who lives, works, worships or attends school in Oxford County is welcome to join and take part in a variety of financial opportunities at the main office in Mexico or the sister branch in Oxford.
“Oxford Federal Credit Union is a not-for-profit entity,” says Matt Kaubris, President/CEO. “Our members are our shareholders. That’s whom we’re responsible to. We’re not here just to sell products. We want to meet our members’ needs and hopefully build lifetime relationships.”
An example of the personal involvement can be found in the loan department, Kaubris continues. “Many members ask for a loan officer by name. It’s rare our members would wait for an answer. Decisions are made here, locally, typically within five minutes.”
Free checking, ATM and debit cards, and a 24-hour lending service for those seeking immediate financing, are just some of the long-standing services offered to members.
Recent additions include a personal financial planning program, direct insurance quotes and higher savings coverage.
* Financial Planning with Steve Dean, Northeast Planning Associates: Guiding members through areas of retirement income, personal investment, life insurance, tax strategies, education funding and estate planning is Steve Dean’s specialty.
“Steve believes his success is measured by the success of his clients and their families,” says Lenny Fairchild, Assistant to VP of Marketing/Human Resources. “We believe this service will be effective in helping our members achieve what is important to them. It’s about providing value to our members, the value of expertise in evaluating each member’s situation and setting up a confidential personal action plan that is coordinated with Oxford Federal Credit Union’s products and services.”
* Partnership with Equinox: A highly respected Falmouth-based financial and insurance firm, which allows OFCU members to readily shop for insurance quotes in areas of home, life, auto, business and long-term care.
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These services, in addition to a variety of home banking options, can easily be accessed through the credit union’s Web site, www.ofcu.org.
For example, the CU Anywhere advantage allows members to view their account balance, transfer funds and make loan payments through the home banking system at no charge. For a small monthly fee, members can now pay all their bills online. Transactions are recorded instantly and can be conducted wherever the internet is provided, 24 hours a day.
“It’s a big timesaver and it costs less than a book of stamps,” says Tammy Daigle, Executive Vice President.
In addition to in-house and online services, OFCU employees are reaching out to the younger population-discussing life skills with high school students, while mascot Monty Moose often makes an appearance to elementary grades.
Young entrepreneurs have become a significant part of the shareholder membership at OFCU. The Monty Moose Club, geared toward children under 12, acquire “moose cash” each time they make a deposit, which they can spend in Monty’s store. Teenagers as well can earn points towards movie passes, pizzas and win raffle drawings.
“The programs educate and encourage children to save money,” Daigle says.
Community involvement plays a big role in the lives of the staff. Through weekly contributions to their employee fund, “Helping Hands,” staff support various local services. OFCU employees are regular participants in such causes as the United Way Day of Caring, American Cancer Society’s Relay for Life, the Alzheimer’s Walk, the March of Dimes Walk, and the Maine Credit Union League’s Ending Hunger in Maine project.
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