Our Mission
The mission of Bangor Federal Credit Union is to deliver the best financial experience to our members.
B – Best possible service! We serve our members with honesty, respect, fairness, and professionalism.
We are empowered to show initiative, take action to learn and grow, learn from our peers, and take advantage of the resources provided to us. We take ownership of our roles and the duties within it; are accountable for our decisions; work to find solutions to challenges, seeing them through to the end; and set goals and hold ourselves to a higher standard.
F – Financially strong! We provide long-term value and stability through innovative and evolving strategies.
We constantly grow and develop personally and professionally, embrace new directions of the Credit Union, and strive for betterment. We find simple solutions for the biggest impact, adapt to changes in order to improve experiences, and are inspired to modernize ideas.
C – Community! As a local business, we care deeply about and are dedicated to the communities in which we live and work.
We build successful connections with peers and members through effective communications, are transparent in our communications to build lasting trust in our relationships, and show empathy to our peers and members using effective listening skills in all interactions.
U – You belong here! – We are committed to you - our members, our employees, our business partners, and our community.
We will always treat you with the utmost respect, integrity, and loyalty. We will continue to build trust within the organization through honesty and respect for our peers and members, will live the Platinum Rule by treating others the way they want to be treated, and will be compassionate and personable.
Membership with Bangor Federal Credit Union is open to anyone who lives, works, worships, or attends school in and businesses and other legal entities located in Penobscot, Hancock, and Waldo counties of Maine.
How Your Accounts Are Federally Insured
WHAT IS THE NCUA?
The National Credit Union Administration, commonly referred to as NCUA, is an independent agency of the United States government that regulates, charters, and supervises federal credit unions. NCUA also operates and manages the National Credit Union Share Insurance Fund (NCUSIF). Backed by the full faith and credit of the U.S. government, the NCUSIF insures the accounts of millions of account holders in all federal credit unions and the vast majority of state-chartered credit unions.
HOW DO I KNOW BANGOR FEDERAL CREDIT UNION IS FEDERALLY INSURED?
We Are required by the NCUA to indicate our insured status in all advertising and also display the official NCUSIF insurance sign in our offices, drive-thru, and branches.
COVERAGE LIMITS
The standard share insurance amount is $250,000 per share owner, per insured credit union, for each account ownership category. The $250,000 standard share insurance account became permanent through the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
THE NCUA SHARE INSURANCE ESTIMATOR
The NCUA Electronic Share Insurance Estimator is available to help members better understand the protection offered by the NCUSIF. This interactive site allows users to input data to compute the amount of NCUSIF coverage available under different account scenarios. This resource is available at MyCreditUnion.gov/estimator.
Credit Union Legislative Action Council
Bangor Federal is proud to be part of Maine’s Credit Unions, a group serving nearly 690,000 people.
When you’re a member of a credit union, you benefit from locally made decisions, an efficient and personal way to do business. To continue offering the services we do, and to further advance the credit union industry, the Credit Union Legislative Action Council (CULAC) ensures that credit union advocates’ political support has the biggest impact.
According to the CULAC website, “CULAC is CUNA's political action committee (PAC) – a vehicle through which credit union advocates can actively participate in advancing the future of the credit union industry. CULAC's purpose is to do the research and groundwork to provide you with the opportunity to contribute to the support of worthy candidates for federal office who believe, and have demonstrated their belief, in the principles of the credit union movement.”
CULAC is important to those of us at Bangor Federal and our members because it supports the credit union movement at the government level and continually works with legislature to protect what makes credit unions unique and special. The work CULAC does has a positive effect on our members and their financial well-being, so we’re happy to have CULAC to support us.
Members and employees of credit unions who have a signed permission agreement with their state league can donate to CULAC and help them fund political candidates that support the values and vision of credit unions.
CULAC has supported more than 390 candidates who favor credit unions and contributed over 3 million dollars directly to their campaigns. With a 97 percent win percentage, the work CULAC does truly benefit Maine's credit unions and credit unions all over the country. If you’re a Bangor Federal member and you’re interested in learning more about contributing to CULAC, visit the CULAC website.
