Infinity Federal Credit Union (FCU) was named the second-place recipient of the state Louise Herring Philosophy-in-Action Member Service Award and the first-place recipient of the state Dora Maxwell Social Responsibility Community Service Award.
The Louise Herring Philosophy-in-Action Member Service Award honors credit unions for internal programs that benefit membership. Infinity FCU received the award for saving its members $8,995,135 on loans and raising its members’ FICO credit scores by an average of 35 points through its credit score education program in 2019. This is the credit union’s fourth consecutive year receiving the state Louise Herring Award.
Dora Maxwell Social Responsibility Community Service Award honors credit unions for programs that strengthen the structure of a community. Infinity FCU received the award for its Supporting Immigrant Tenants (SIT) Program in partnership with ProsperityME, which provides interest-free notes to help asylum seekers secure their first apartments. Since its inception in 2018, the program has helped 32 asylum-seeking families obtain housing. Infinity FCU has pledged a rolling $100,000 for the on-going administration of the program, guaranteed by a fund from ProsperityME. This is the credit union’s second consecutive year receiving the first-place state Louise Herring Award.
“At Infinity FCU, we make supporting our community a top priority,” says President/CEO Elizabeth Hayes. “Partnering with ProsperityME and assisting individuals who are seeking asylum to secure their first home is a privilege. The SIT program gives Infinity FCU the opportunity to make a meaningful difference in the lives of people at a time when they need us most.”
The awards were presented by the Maine Credit Union League. First-place state winners will compete in the national awards competition, coordinated by the Credit Union National Association, in the fall.