St. John Valley

Credit union earns Forbes top 100 rank

MADAWASKA, Maine — NorState Federal Credit Union’s chief executive officer, Susan G. Whitehead, received a congratulatory notice on July 1 from the engagement officer at the Credit Union National Association, Sterling L. Nowka, stating that the credit union received a national recognition of excellence by Forbes Magazine. 

This recognition was for being one of the top 100 best credit unions in America, and a placement of third out of three mentions for the state of Maine. 

NorState, headquartered in Madawaska, joins two other best-in-state Maine credit unions that topped the Forbes list: Cumberland County FCU, headquartered in Falmouth, and Atlantic FCU, headquartered in Brunswick.

According to Forbes, there are over 5,000 credit unions with over 117 million members across the U.S., but to get to the bottom of whose members have the highest opinion of them, the magazine partnered with a market research firm to find the best credit unions in each state.

More than 25,000 customers completed surveys by Statista for their opinion on their current and former banking relationships, then financial institutions were scored on overall recommendations and satisfaction, as well as five subdimensions (trust, terms and conditions, branch services, digital services and financial advice).

Whitehead said, “Our credit union’s team delivers, when executing the important work of the credit union, they showcase the highest level of professionalism and best service humanly possible for our members.” 

According to credit union officials, banking institutions on a scale of 1 to 5 scored 4.2, while credit unions on average scored 4.5, showcasing that Americans trust credit unions over banks as their primary financial institution.

“NorState strives to be our members’ trusted financial partner, providing experience that empowers them to achieve their goals and dreams,” Whitehead said.

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