The Quarterly Newsletter - Winter 2026
President’s Message
Scott Harriman, CEO & President, and Ryan Grund, CFO
Dear Members,
After 36 years serving Cumberland County FCU, I want to share that 2026 will be my final year as CEO. It has been a privilege and honor to serve as your CEO. I am humbled and grateful.
This decision comes with deep gratitude and a full heart. It has been the honor of a lifetime to serve our members, work alongside an extraordinary staff, and build lasting friendships within our credit union community. Together, we’ve navigated change, celebrated growth, and stayed true to the mission of people helping people.
I am incredibly proud of what we’ve accomplished and confident in the strong foundation we’ve built for the future. Over the coming year, my focus will remain on serving our members well and ensuring a smooth and thoughtful transition. Ryan Grund, our long-term CFO, will become President in July 2026. Ryan knows firsthand about our member service-focused culture, and I am confident Ryan will continue our tradition of financial excellence.
Thank you to every member who placed their trust in us, and to the colleagues and friends who made this journey so meaningful. I am deeply appreciative of the relationships and memories that will stay with me long after my tenure concludes.
With sincere gratitude,
Scott Harriman, President & CEO
As 2025 draws to a close, Cumberland County FCU will again be celebrating a year that all of our members can be proud of. Our focus has always been on long-term, sustainable growth, and 2025 was no exception.
This year, our capital position grew to nearly 10%, we welcomed more than 1,100 new members, paid over $8.5 million dollars in dividends, and originated more than $80 million dollars in member loans. The credit union also gave back $80,000 to local charities and non-profits in the communities we serve.
While these results are important, our commitment has always been to our members, not just the balance sheet. You, our members, are why we are here, and we remain steadfast in our goal of improving the financial lives of those we serve.
As Scott Harriman, our President and CEO, prepares to retire after 36 successful years of service, we want to extend our sincerest gratitude for his leadership, dedication, and unwavering commitment to our members and communities. Scott’s vision and stewardship have helped shape Cumberland County FCU into the strong, trusted financial institution it is today. I am humbled, honored, and excited to continue building on the solid foundation he leaves behind, ensuring we remain focused on our members while building our momentum for the future.
Respectfully,
Ryan Grund, CPA, Chief Financial Officer
CCFCU Presents $10,000 Donation to Good Shepherd Food Bank
(L to r): Heather Paquette, President & CEO of the Good Shepherd Food Bank; Scott Harriman, President & CEO, and Ryan Grund, CFO at Cumberland County FCU.
Scott Harriman and Ryan Grund of CCFCU recently met with Heather Paquette, President & CEO of the Good Shepherd Food Bank, to present a $10,000 CCFCU donation check at their warehouse in Auburn.
During the visit, Harriman and Grund had the opportunity to tour the facility and learn more about the food bank’s operations. They expressed how impressed they were with the scale, efficiency, and impact of the work being done to support communities across the state.
“This visit really showed us how much dedication and coordination go into making such a meaningful difference for so many families,” said Harriman. “We are proud to support the Good Shepherd Food Bank and its mission to address hunger and food insecurity in Maine.” For more information about Good Shepherd Food Bank and its mission, please visit their website at https://www.gsfb.org/.
CCFCU Receives 2025 Best Places to Work in Maine
Cumberland County Federal Credit Union is pleased to announce that we have been named one of the 2025 Best Places to Work in Maine. This recognition reflects CCFCU's commitment to fostering a positive work environment where employees feel supported and truly enjoy working together to help our membership and give back to the communities we serve.
The Society for Human Resource Management, Maine State Council (MESHRM), and Best Companies Group have assessed our workplace policies, practices, demographics, and employee survey results, all of which have contributed to our distinction as one of the top companies in the state. For more information, visit www.BestPlacestoWorkME.com.
“I am so proud of our whole team for receiving the Best Places to Work recognition.” says Scott Harriman, President and CEO. “This achievement is a direct reflection of the hard work, dedication, and passion our staff brings to their roles every day.”
Your Wallet Just Got Safer!
Our CCFCU Visa Scorecard Rewards and Cash Back credit cards are now available in Apple Pay, Google Pay, and Samsung Pay. You can tap, pay, and go—securely and effortlessly.
How It Works:
1. Add Your Visa Card to Your Wallet
• Open Apple Pay, Google Pay, or Samsung Pay on your phone.
• Tap “Add Card” and follow the prompts.
• Your card is verified securely—often through a text message or banking app.
2. Your Card Becomes a Secure Digital Token
• Your actual card number is never stored on your device.
• Instead, a unique encrypted digital token is created.
• This token is what’s used for transactions, keeping your real card number safe.
3. Tap or Scan to Pay at checkout:
• Apple Pay: Double-click the side button → authenticate with Face ID/Touch ID → tap your phone.
• Google Pay: Unlock your phone and tap at the terminal.
• Samsung Pay: Swipe up to launch Samsung Pay → authenticate → tap.
Your Visa token is sent to the terminal, and the payment goes through instantly.
4. Extra Security Every Time
Each transaction uses:
• A one-time security code
• Device-based authentication (Face ID, fingerprint, or passcode)
This makes mobile wallet payments more secure than plastic cards.
5. Works Anywhere Contactless Payments are Accepted
Look for the contactless payment symbol at in-store checkout or choose the wallet option when shopping online or in apps.
CCFCU Welcomes Back Mike LaRose
We are pleased to announce the return of Mike LaRose as our Mortgage Loan Officer, reinforcing the credit union’s continued commitment to providing personalized, trusted home financing solutions to its members.
With more than 10 years of experience in lending and a strong history with CCFCU, Mike brings deep knowledge of the local housing market and a member-first approach to every transaction. He will work closely with you to guide you through your home purchases and refinances, ensuring a smooth and informed lending experience.
“We are excited to welcome Mike LaRose back to our mortgage team,” said Maria Vining, VP of Lending at CCFCU. “Mike’s expertise, integrity, and understanding of our members’ needs make him a valuable resource. Having him return feels like welcoming home a trusted partner.”
When Mike worked for CCFCU previously, he earned a reputation for responsiveness, clear communication, and strong relationships with members, real estate professionals, and community partners. Since then, he has continued to expand his industry knowledge and brings a renewed insight and energy to the role.
“I’m thrilled to be returning to Cumberland County FCU,” said Mike LaRose. “The mission, culture, and focus on members truly set CCFCU apart from other banks and credit unions. I look forward to helping members achieve their homeownership goals and supporting the communities we serve.” Mike can be reached at 207-878-3441 ext. 154 or mlarose@myccfcu.com.
Should You Put a Freeze on Your Credit Report?
Placing a hold on your credit report is a simple yet powerful way to protect your financial identity. It’s free, reversible, and effective at stopping unauthorized credit activity before it starts. Whether you’ve experienced a data breach or just want extra security, this is a smart step towards safeguarding your financial future.
What Is a Credit Hold (Credit Freeze)?
A credit hold restricts access to your credit report at the major credit bureaus. Since most lenders check your credit before approving loans or credit cards, blocking access prevents criminals from opening accounts using your information.
It does not affect your credit score.
It’s free!
You can temporarily lift or permanently remove it whenever you need to apply for credit.
When Should You Put a Hold on Your Credit? You might consider placing a credit hold if:
Your personal data was exposed in a data breach.
You lost sensitive documents (like a Social Security card).
You suspect identity theft or fraud.
You simply want extra protection when you don’t plan to apply for credit soon.
Many people also place freezes proactively, even without a known risk.
Each credit bureau will verify your identity before processing the request. You must place a freeze with each of the three major credit bureaus individually:
1. Experian
Create an account on Experian’s website or use their phone option.
Request a credit freeze.
Set a PIN or password to manage your freeze later.
2. Equifax
Sign up for a myEquifax account.
Choose the credit freeze option.
Verify your identity and confirm.
3. TransUnion
Create a TransUnion account.
Select “Add a credit freeze.”
Follow the prompts to complete the request.
Once completed, your credit will be frozen almost immediately at each bureau.
How to Lift or Remove a Credit Hold
If you’re applying for a loan, apartment, or credit card, you can:
Temporarily lift the freeze for a specific period, or
Lift it for a specific lender, or
Permanently remove the freeze
A fraud alert warns lenders to double-check your identity, but it does not stop credit from being opened. A credit hold offers stronger protection.
What a Credit Hold Does Not Do
Does not stop existing accounts from being used.
Does not prevent debt collection or credit score changes.
Does not replace monitoring your statements and reports.
Remember to check your accounts regularly and review your credit reports once a year.
Here’s What You Need to Know About the Penny Phase-Out
Over the past 10 years, the total production cost of the penny has risen from 1.3 cents to 3.7 cents per penny. By ending production, the U.S. Treasury projects saving approximately $56 million annually in reduced material and minting costs. As the U.S. Treasury phases out the penny, we're here to help you understand what’s changing and how it may affect you.
As pennies become harder to get, some organizations may round cash transactions to the nearest nickel. If we change how we handle cash, we’ll let you know in advance.
Your balances and digital transactions (debit card, ACH, online, and mobile) will still post to the exact cent.
Any future changes would apply only to cash transactions, like withdrawals and in-person cash payments.
Any updates will be small, transparent, and focused on treating members fairly.
If you run a business, every cent counts. The move away from pennies may affect how you price items, staff your cash drawers, and make change. The penny will retain its full monetary value indefinitely. It will continue to be recognized as legal tender, allowing consumers to use pennies for cash transactions at businesses that choose to accept them, even after new pennies are no longer produced and distributed. As guidance evolves, we can help you adjust coin orders as pennies become less available. No need to worry — billions of pennies are still in circulation (or sitting in a jar or your couch cushions at home). Stop by any branch for free penny wrappers and then we’d be happy to take your rolled coin!
For more info and frequently asked questions, click this link or copy and paste the link into your web browser - Penny Production FAQs | U.S. Department of the Treasury.
