FROM THE CEO

It is with a great deal of emotion that I write this “Reed Report,” as it will be my last as I will retire effective January 2023. It has been an absolute pleasure to have served our members, staff, and volunteer officials, as your President and Chief Executive Officer for the last thirty-two and a half years! I will forever be indebted to the Maine Savings Board, who allowed me to serve as your Leader for so many years.

I especially wish to thank my family, who endured my many hours away from home, the many hours I worked while at home, and the many hours my mind was occupied with work. A good leader must have balance in life, and I can only hope my family feels that I succeeded in providing a productive, well-balanced, and loving home life. My family has been nothing short of supportive, encouraging, creative, positive, understanding, caring and loving. I’ve been blessed with an outstanding work family and a truly loving home life. Who could ask for more?

I don’t want to use this time and space to reflect in much detail about our financial condition, but as most of you know, we have built an extremely strong financial institution. We have enjoyed a position of strength through a strategy of well-managed growth. There are many strong credit unions in Maine and I am proud to say we are among the top.

I am most proud of the culture that we have cultivated at Maine Savings. We are a team who genuinely care about each other and the personal and financial well-being of our members.

I am proud…

• That we are truly a community-based financial institution and realize that a strong community plays a vital role for all to be healthy, prosperous, caring, and loving
• That we have positioned our credit union to not only be relevant in our community, but be a leader in our community
• That our charitable giving far exceeds most companies of our size
• That we have been extremely bold and innovative in leading the way by developing new products and services
• That we have created a number of subsidiary companies that continue to excel in providing financial solutions for so many individuals and businesses
• That we have created jobs so individuals can be productive members of our community

Suffice it to say that we are thoroughly engaged in our community.

I am leaving the credit union in very good hands. Vanessa Madore, our new President and CEO, has been a rising star for many years and is well-poised to take our institution to new heights. Her Senior Management team is on a level of their own.

I am eagerly anticipating a new chapter in my life. I feel energized and plan to remain engaged, creative, and productive in whatever I choose for many years to come. Above all, I’m passionate about spending more time with my loving wife Karen, our children and grand-children, and our many close friends.

And for one last time, remember to . . . BANK BOLD, BANK 207, BANK MAINE SAVINGS.

Take care.