Infinity Federal Credit Union has banner year, saves members $6 million, opens new branch

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From welcoming 2,000 new members to opening a branch in Scarborough to rolling out several new services (including mobile-wallet services and enhanced online banking), 2019 proved to be a banner year for Westbrook-based Infinity Federal Credit Union.

Infinity Federal Credit Union (FCU)
"Our employees bring ‘Banking with Heart’ to life by counseling members to improve their credit scores, through charitable giving and volunteerism, and partnership with organizations which help Mainers reach their goals.” – Elizabeth Hayes, Infinity FCU President and CEO

It has been a banner year for Infinity Federal Credit Union (FCU) with several defining moments. In 2019, the credit union welcomed 2,000 new members, launched several new services including the ability to receive a new or replacement debit cards in branch, make international wire transfers, mobile wallet services including ApplePay and GooglePay, as well as enhancements to online banking including Card Valet and Transfer Now empowering its members to have more control over their finances.

Infinity FCU saved its members over $6 million and raised its members’ FICO credit scores by an average of 44 points through its credit score education program.

At an event hosted this past summer by ProsperityME, Infinity FCU was honored with the “Outstanding Community Partner” award in recognition of the credit union’s efforts to give asylum-seekers no-interest loans to help them secure their first apartments. In 2019, Infinity FCU helped 14 families get into their first apartments.

The credit union also was recognized as a Leading SBA Credit Union Lender for the second consecutive year, approving 17 loans totaling over $1 million to help Maine’s small businesses grow, which in turn contributes to the greater growth of Maine’s economy.

Infinity FCU continues to be recognized as a great place to work for the eighth consecutive year at local and national levels. It made the “Best Place to Work in Maine” medium company list at No. 6 and topped the “Best Credit Unions to Work For" list at No. 1 in its asset category.

Throughout the year, Infinity FCU donated over $27,000 to the community through charitable giving, event sponsorships, Casual Jeans Fridays, and its signature Random Acts of Kindness events. As a new benefit this year, the credit union started offering a paid volunteer day to all employees.

“We invest in our members, employees, and our community in very real ways,” says President/CEO, Elizabeth Hayes, “Our employees bring ‘Banking with Heart’ to life every day by counseling members to improve their credit scores, through charitable giving and volunteerism, and partnership with organizations such as ProsperityME and the SBA which help Mainers reach their goals, from first apartments to starting small businesses...”

The credit union ended the year with a grand opening of its new Scarborough Branch just off Route 1.

About Infinity Federal Credit Union

As Maine’s first credit union, Infinity Federal Credit Union has been serving its members since 1921, initially as the Telephone Workers Credit Union of Maine, then as Telco of New England FCU. Infinity FCU is now community-based, available to anyone who lives, works, worships, or attends school in Cumberland and York counties and the city of Bangor, Maine. Infinity FCU is a not-for-profit cooperative organization owned by its members and guided by the vision “We do banking differently to keep *you* a step ahead in life.” For more information about Infinity FCU, please visit http://www.infinityfcu.com.

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Erica Berry
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