Banking local is safe and secure.

March 13, 2023

To our Maine Community Bank customers:

With the recent collapse of a select few publicly traded specialty banks, customers have asked if there is reason to be concerned about their deposits and the stability of the financial sector.

First and most importantly, your deposits with Maine Community Bank are safe and secure.  Maine Community Bank bears no resemblance to the troubled banks you are hearing about in the news.  We are very well capitalized, have an extremely strong liquidity position and excellent credit quality.  As a mutual savings bank, we are not publicly traded, and therefore not subject to the unpredictable valuation declines driven by a spooked market.  Specifically, Maine Community Bank strengths are:

  • Our Tier 1 capital is almost three times the minimum regulatory requirement
  • Over 80% of our assets are in loans to Maine families and Maine businesses, not low yielding investments which are driving the declines in other bank tangible equity
  • We have a strong balance sheet and liquidity position with a diversified deposit base and access to multiple funding sources
  • In summary, Maine Community Bank is profitable, stable and secure.

As reported by the latest FDIC Quarterly Banking Profile data, America’s banks are strong and resilient. The events of the last several days do not change that. Regulators have a broad range of tools available since 2010 to deal with stresses inherent to banking.

Banking local means knowing firsthand how your money is being managed and who is making decisions.  At Maine Community Bank we only do business in Maine, we know our communities well, and we are prudent in delivering on our mission is to ensure our prosperity and the ability to enrich our customers, communities and employees.

For over 150 years your trust in us has been our priority, and we will continue to do so every day.

Please let us know if you have questions.

Thank you and Best regards,

Jeanne A. Hulit
President & CEO

 

Maine Community Bank Helps Good Shepherd Food Bank and Other Food Pantries Address Food Insecurity in Maine

Westbrook, Maine – December 22, 2022 – According to data from Feeding America, over 139,000 Mainers are facing hunger and one out of six are children.  To help alleviate hunger issues in the community, Maine Community Bank is taking decisive action. Through its charitable foundation, the Biddeford and Mechanics Savings Foundation, a donation of $50,000 is being made to 12 different organizations focused specifically on food insecurity.

To address this very serious problem, the Foundation has pledged $6,000 to Good Shepherd Food Bank and individual donations of $4,000 each to 11 different organizations serving communities in Androscoggin, York and Cumberland counties.  These include:

Biddeford Food Pantry
Community Outreach Services Food Pantry
High Street Congregational Church Food Pantry
Mid Coast Hunger Prevention
Saco Food Pantry
Scarborough Food Pantry
Stroudwater Christian Food Pantry
Trinity Jubilee Center
Waterboro Food Pantry
Westbrook Food Pantry
Windham Food Pantry and Clothes Closet

Good Shepherd Food Bank and the 11 other hunger relief agencies provide essential services in partnership with food pantries, meal sites, senior and health centers, and schools across all 16 counties in Maine. The Foundation’s donation will provide 100,000 meals to needy Mainers.

Jeanne Hulit, Maine Community Bank CEO, stated that “with rising inflation, it is even more challenging to provide adequate nutrition for families in need.  We are happy to be able to partner with the providers in our communities to help meet this urgent need.”

Good Shepherd Food Bank partners with more than 600 community organizations in its network and has grown distribution from 10 million meals in 2010 to 29 million meals during fiscal year 2022.  “With the support of Maine Community Bank and other generous Mainers, the Food Bank is leading a statewide effort to combat the root causes of hunger by engaging in advocacy, nutrition education, and strategic partnerships,” said Kristen Miale, president of Good Shepherd Food Bank.

In addition to these donations, Maine Community Bank is also collecting non-perishable breakfast food items in each of their ten branches through December 23rd as part of their “Brightening Maine Mornings” campaign. All donations collected will be brought to local area food pantries.

About Maine Community Bank
Biddeford Savings and Mechanics Savings have been financial partners with the people of Central and Southern Maine for the past 150 years. To help carry out their commitment to the communities they serve, the two banks merged on January 1, 2020, becoming divisions of Maine Community Bank. The merger expands the lending capacity, product offering, and branch service areas, while keeping all decision-making at the local level. They have branches in Auburn, Biddeford, Brunswick, Kennebunk, Lewiston, Scarborough, Waterboro, Windham, and Westbrook.

About the Biddeford and Mechanics Savings Foundation
The Biddeford and Mechanics Savings Charitable Foundation was created in July of 2020 and is structured to give back to the communities in a larger, more enduring way. The Foundation’s mission is to help individuals and families in the bank’s local communities meet their basic needs and achieve financial empowerment.

Maine Community Bank Cares: The Biddeford and Mechanics Savings Charitable Foundation Donates $10,000 to Support Mental Health in the Community

Westbrook, Maine – August 15Susan Mellon presents check to Sweetser, 2022 – To support some of the most vulnerable individuals throughout the state, The Biddeford and Mechanics Savings Charitable Foundation delivered a donation of $10,000 to Sweetser, a community mental health provider offering services to people of all ages in mental and behavioral health, intellectual and developmental disabilities, recovery, and education. In recent years, the awareness and stigma surrounding mental health has lifted, but the access and affordability of these services has not.

The Foundation recently presented Jayne Van Bramer, President & CEO at Sweetser with a check for $10,000 which will be used to support individuals by improving their quality of life as they receive help through their darkest and scariest moments. The funds will also help towards removing barriers for Maine’s families and allowing access to mental healthcare, leading to positive long-term outcomes and a brighter and more promising future.

Together, Maine Community Bank and the Biddeford and Mechanics Savings Charitable Foundation contributed over $327,000 to several local non-profit organizations in 2021 and continues to support the local community through donations, volunteerism and in-kind donations each year.

About Maine Community Bank

Biddeford Savings and Mechanics Savings have been financial partners with the people of Central and Southern Maine for the past 150 years. To help carry out their commitment to the communities they serve, the two banks merged on January 1, 2020, becoming divisions of Maine Community Bank. The merger expanded the lending capacity, product offerings, and branch service areas, while keeping all decision-making at the local level. They have branches in Auburn, Biddeford, Brunswick, Kennebunk, Lewiston, Scarborough, Waterboro, Westbrook and Windham.

About the Biddeford and Mechanics Charitable Savings Foundation

The Biddeford and Mechanics Savings Charitable Foundation was created in July of 2020 and is structured to give back to the communities in a larger, more enduring way. The Foundation’s mission is to help individuals and families in the bank’s local communities meet their basic needs and achieve financial empowerment.

Maine Community Bank Hires Anna Astvatsaturian Turcotte as Senior Vice President, Director of Compliance

Westbrook, Maine—July 11, 2022—Maine Community Bank is pleased to announce the addition of Anna Astvatsaturian Turcotte as Senior Vice President, Director of Compliance. Turcotte is responsible for the oversight of the Compliance and Internal Audit Programs at Maine Community Bank and will be based in Westbrook.

“I am honored to contribute to the work of Maine Community Bank because of its steadfast dedication to Maine, with a proven record of elevating women leaders,” says Turcotte.

She comes to Maine Community Bank with nineteen years of legal, compliance and risk management experience. Most recently, Anna worked at TD Bank and Androscoggin Bank.

In 2012 Anna published her childhood diaries surviving ethnic cleansing as a child refugee, titled “Nowhere, a Story of Exile,” which she wrote at the age of 14 as her family settled in North Dakota as refugees. Since the publication of this diary Anna has spoken on behalf of her community at US Congress, UK & European Parliaments and speaks worldwide on genocide prevention, refugee issues, international law, and human rights.  Additionally, Anna implements humanitarian initiatives in Armenia with the Anna Astvatsaturian Foundation. Anna volunteers her time mentoring Maine girls with Olympia Snowe Women’s Leadership Institute.  She serves as the Board member of the Maine Justice Foundation and donates her time to numerous other local organizations.

“We are so pleased to have Anna join our team and bring her wealth of experience to Maine Community Bank. Anna is a proven leader who is deeply committed to her community and to helping us deliver on the bank’s mission to enrich our customers, communities and colleagues,” says Jeanne Hulit, President & CEO of Maine Community Bank.

Anna has a Bachelor of Arts from the University of North Dakota and a Juris Doctor from the University of Maine School of Law. She lives in Westbrook with her husband and two children, and is a third term Westbrook City Councilor, currently serving as the first woman and immigrant President of the Westbrook City Council.

 

About Maine Community Bank
Maine Community Bank, through its divisions of Biddeford Savings and Mechanics Savings have been supporting Maine’s communities for over 150 years. They have branches in Auburn, Biddeford, Brunswick, Kennebunk, Lewiston, Scarborough, Waterboro, Westbrook and Windham.

Maine Community Bank’s Jahnna Steindl, Vice President, Branch Manager accepts new role at Biddeford Branch

Biddeford, Maine—June 1, 2022—Maine Community Bank is pleased to announce that Jahnna Steindl has accepted the opportunity to oversee the Main Street Branch of Biddeford Savings in Biddeford.

Steindl has been with the bank since July of last year and was most recently Vice President, Branch Manager of the new Westbrook branch of Biddeford Savings. She has been in a variety of banking roles for over 25 years. In this role she will oversee branch operations and focus and ensuring that the financial well-being of their existing customer’s as well as new customers are met with the highest level of personal service.

“Banking is not just my career, it is also my passion. Having the opportunity to be a trusted advisor to our customers is a privilege. As bankers, we get to assist our customers throughout all aspects of their lives, which builds relationships that are meaningful and impactful on both sides,” said Steindl. “Recently, I sat with three generations of customers. This is the first time in my career I have been able to work in a branch with such deep roots in our community. I believe that is an honor and I am excited to be here.”

Steindl has a degree from the University of Southern Maine. She resides in Biddeford and enjoys spending time with her son and parents.

 

About Maine Community Bank

Maine Community Bank, through its divisions of Biddeford Savings and Mechanics have been supporting Maine’s communities for over 150 years. They have branches in Auburn, Biddeford, Brunswick, Kennebunk, Lewiston, Scarborough, Waterboro, Westbrook and  Windham.

Maine Community Bank Hires Ryan Wing as Senior Vice President, Chief Information Officer

Westbrook, Maine—May 13, 2022—Maine Community Bank is pleased to announce the addition of Ryan Wing as Senior Vice President, Chief Information Officer. Wing is responsible for overseeing IT systems and security at Maine Community Bank and will be based in Westbrook.

“I am excited for the opportunity to serve our community, looking to future technologies that will benefit all of our diverse customers, and promoting collaborative enthusiasm in our already impressive team here at Maine Community Bank.”

He comes to Maine Community Bank with 23 years of IT experience, including leading IT teams with a focus on information security, process automation and cloud forward technology. Most recently Wing held the position of Director of IT and Facilities for a local credit union.

Wing is an alumni member of the Filene i3 Innovation Program. He has a Bachelor of Fine Arts degree from the University of Southern Maine. He resides in Topsham and in his spare time enjoys hiking and outdoor activities with his wife and two sons. He also has a side-career in illustration.

 

About Maine Community Bank

Maine Community Bank, through its divisions of Biddeford Savings and Mechanics Savings have been supporting Maine’s communities for over 150 years. They have branches in Auburn, Biddeford, Brunswick, Kennebunk, Lewiston, Scarborough, Waterboro, Westbrook and  Windham.

Mechanics Savings, a division of Maine Community Bank relocates to Cook’s Corner in Brunswick

Brunswick, Maine – February 25, 2022 – Maine Community Bank is celebrating the opening of its’ new Mechanics Savings branch located at Cook’s Corner in Brunswick. After nine years of being located in downtown Brunswick, the brand new 2,992 square foot full-service branch is now open at 27 Gurnet Road, conveniently located near Brunswick Landing, shopping, restaurants, and other area businesses.

The branch features a welcoming, forward-thinking design aimed at improving the customer experience, complete with more parking, drive-up service, a 24-hour ATM, safe deposit boxes and a coin counting machine and a soon to be installed bike rack. Newly expanded hours and drive-up service will allow for the Brunswick Branch to be open on Saturdays.

“We are excited about our relocation to Cook’s Corner and to be a part of the new development in the area. This new location represents our continued promise to support and invest in the communities we serve,” said Jeanne Hulit, President & CEO of Maine Community Bank. “We look forward to continuing to provide exceptional service to our customers at this new location, as we continue to grow to meet the financial needs of the community.”

The Bank will hold a ribbon cutting celebration on Friday, March 4th from 3 pm to 4pm. A grand opening celebration is also planned for the week of March 7th – 12th.

Lobby hours are Monday – Wednesday 8:30am to 4:00pm, and Thursday and Friday 8:30am to 5:00pm. Drive-up services are available Monday – Wednesday 8:00am to 4:00pm, and Thursday and Friday 8:00am to 5:00pm. ATM services are available 24/7. For more information about this and other Maine Community Bank branch locations, please visit mainecb.com/branches-atms/.

 

About Maine Community Bank

Biddeford Savings and Mechanics Savings have been financial partners with the people of Central and Southern Maine for the past 150 years. To help carry out their commitment to the communities they serve, the two banks merged on January 1, 2020, becoming divisions of Maine Community Bank. The merger expanded the lending capacity, product offerings, and branch service areas, while keeping all decision-making at the local level. They have branches in Auburn, Biddeford, Brunswick, Kennebunk, Lewiston, Scarborough, Waterboro, Westbrook, and Windham.

Maine Community Bank Cares: The Biddeford and Mechanics Charitable Savings Foundation Donates $10,000 to Provide a Safe Haven for Maine Teens

Jeanne Hulit, President & CEO of Maine Community Bank, at My Place Teen Center in Westbrook

Westbrook, Maine – February 4, 2022 – To help keep young people safe and on a path to success, The Biddeford and Mechanics Savings Charitable Foundation delivered a donation of $10,000 to My Place Teen Center, an after-school program where kids receive help, love, food, and programming that addresses their unique needs. The Teen Center’s Restaurant Job Training Program is one of many programs offered at the center. The program provides a unique opportunity for local teens to learn new skills that will prepare them for future employment in the restaurant industry.  Preparing youth with the foundational skills and experiences they need as they graduate from high school is important to their success. “We believe in building stronger communities by investing in our youth and therefore, we want to support their success any way we can. This generation is our future – these kids will be our employees, our customers, and our partners one day,” says Jeanne Hulit, President and CEO of Maine Community Bank.

The Foundation recently presented Donna Dwyer, Executive Director at My Place Teen Center with a check for $10,000 which will be used to support their Westbrook center and their temporary location in Saco, as they raise funds for a permanent facility in Biddeford. “Our centers are where we nurture, inspire, and safeguard at-risk teens, many of whom have nowhere else to go. With help from organizations such as The Biddeford and Mechanic Savings Foundation, we are able to keep kids ages 10-18 safe, fed, and loved. We are a year-round, free, out of school time program for all youth, from any locale,” says Donna Dwyer, My Place Teen Center’s Executive Director. “Just as we are a haven for kids at high risk, we feel our community partners like Maine Community Bank, are our lifeline.”

Together, Maine Community Bank and the Biddeford and Mechanics Savings Charitable Foundation contributed over $327,000 to several local non-profit organization in 2021 and continues to support the local community through donations, volunteerism and on-kind donations each year.

 

About Maine Community Bank

Biddeford Savings and Mechanics Savings have been financial partners with the people of Central and Southern Maine for the past 150 years. To help carry out their commitment to the communities they serve, the two banks merged on January 1, 2020, becoming divisions of Maine Community Bank. The merger expands the lending capacity, product offerings, and branch service areas, while keeping all decision-making at the local level. They have branches in Auburn, Biddeford, Brunswick, Kennebunk, Lewiston, Scarborough, Waterboro, and Windham, with a new branch and operations center in Westbrook.

About the Biddeford and Mechanics Charitable Savings Foundation

The Biddeford and Mechanics Savings Charitable Foundation was created in July of 2020 and is structured to give back to the communities in a larger, more enduring way. The Foundation’s mission is to help individuals and families in the bank’s local communities meet their basic needs and achieve financial empowerment.

Maine Community Bank Hires Lisa Hughes as Vice President, Senior Business Banking Officer

Lisa HughesWestbrook, Maine—January 26, 2022— Maine Community Bank is pleased to announce the addition of Lisa Hughes as Vice President, Senior Business Banking Officer III. Hughes will be responsible for developing small business relationships and expanding existing relationships in the Westbrook and Windham areas. “We are fortunate to have Lisa join us to bring her experience to the Maine Community Bank family,” said Jeanne Hulit, President and CEO. “She is passionate about community banking and will be a great addition to our team.”

She comes to Maine Community Bank with over 20 years of experience, including her recent experience as Business Credit Manager.

Hughes has a Bachelor of Science degree in Business Administration from Husson University. She has two children and lives in Cornish with her husband. Being recent empty nesters, they enjoy spending their free time in Rangeley enjoying outdoor activities and spending quiet time unwinding.

Hughes joins the bank at an exciting time.  Having recently completed the merger of Biddeford Savings and Mechanics Savings, the bank recently expanded into Westbrook with a new Operations Center and Biddeford Savings Branch. “My goal in working with any business owner is to be able to provide them with the financial tools they need in order to be successful now, and in the future,” said Hughes.

 

About Maine Community Bank

Biddeford Savings and Mechanics Savings have been supporting hardworking Mainers for the past 150 years. To help carry their commitment to the communities they serve, the two banks merged on January 1, 2020, becoming divisions of Maine Community Bank. The merger expands the lending capacity, product offerings, and branch service area, while keeping all decision making at the local level. They have branches in Auburn, Biddeford, Brunswick, Kennebunk, Lewiston, Scarborough, Waterboro, Windham, and will soon open a new Operations Center and branch in Westbrook.

Maine Community Bank Cares: The Biddeford and Mechanic Savings Charitable Foundation Delivers $25,000 to Provide Heating Assistance to Mainers During Winter’s Coldest Months

Keep ME Warm Check PresentationWestbrook, Maine – January 20, 2022 – In response to the rising cost of home heating oil, the Biddeford and Mechanics Savings Charitable Foundation has donated $25,000 to support the Keep ME Warm Fund, providing direct and immediate home heating assistance to financially vulnerable Mainers. “Making a contribution to the Keep ME Warm program will allow us to help our neighbors when Mainers need it most – during the winter months. No one should have to choose between paying for heat and other essentials like electricity and food. Our hope is that we can make the lives of individuals and families in the communities we serve a little easier this year,” says Jeanne Hulit, President and CEO of Maine Community Bank.

Although the coldest months are still ahead, the cost of home heating fuel in Maine has already increased significantly over last year and is expected to keep going up over the winter season. According to The Governor’s Energy Office, the average cost of heating fuel is currently at $3.14 per gallon, compared to $2.11 per gallon one year ago. Thousands of Mainers are faced with choosing between heating their homes and basic needs like food and medicine. Donations to Keep ME Warm help to make the winter warmer and safer for Maine families. The Biddeford and Mechanic Savings Charitable Foundation donation to Keep ME Warm Fund will help people across Maine, including the bank’s footprint in the Androscoggin, Cumberland, and York regions. Keep ME Warm Funds are distributed through 211 Maine, local United Ways, and community partners like The Opportunity Alliance (TOA) and others.

According to Liz Cotter Schlax, President and CEO of United Way of Southern Maine and Lead Administrator for Keep ME Warm Fund, a gift of $25,000 will help heat 80 Maine homes. “Keep ME Warm Fund is an emergency heating assistance resource to close the heating gap. When Mainers find themselves in an emergency heating crisis, they can access Keep ME Warm funds through our state’s 211 Maine hotline, their local United Way, or community action agency,” said Schlax. “These funds give our partners the flexibility and resources to help fill a tank or address repairs, often in the same day.”

The Keep ME Warm Fund, in partnership with local community service organizations, relies heavily on donations and distributes assistance based on need. “This winter will be challenging to our vulnerable neighbors who were already most at risk, and these funds will be crucial to keeping individuals and families warm, safe, and healthy in their homes during the coldest months,” says Joe Everett, President & CEO of The Opportunity Alliance. “Maine Community Bank is a wonderful partner and we are grateful for their longstanding support of communities across Central and Southern Maine.”

This donation wraps up a year of giving for Maine Community Bank and the Biddeford and Mechanic Savings Charitable Foundation totaling over $327,000 to 240 different organizations.

 

About Maine Community Bank

Biddeford Savings and Mechanics Savings have been financial partners with the people of Central and Southern Maine for the past 150 years. To help carry out their commitment to the communities they serve, the two banks merged on January 1, 2020, becoming divisions of Maine Community Bank. The merger expands the lending capacity, product offerings, and branch service areas, while keeping all decision-making at the local level. They have branches in Auburn, Biddeford, Brunswick, Kennebunk, Lewiston, Scarborough, Waterboro, and Windham, with a new branch and operations center in Westbrook.

About the Biddeford and Mechanics Savings Charitable Foundation

The Biddeford and Mechanics Savings Charitable Foundation was created in July of 2020 and is structured to give back to the communities in a larger, more enduring way. The Foundation’s mission is to help individuals and families in the bank’s local communities meet their basic needs and achieve financial empowerment.