Maine CUs To Help Stranded Homeowners
AUGUSTA, Maine – Five credit unions have agreed to give no-interest loans to customers of an oil company in Brunswick that shut down abruptly last month.
Thibeault Energy owes oil to at least 400 customers who paid ahead of time for heating oil that was never delivered and many of those customers have no more money for oil this winter. Forty of those pre-paid customers are low-income families who receive financial help from the federal Low Income Home Energy Assistance Program.
The credit unions – Atlantic Regional Federal CU, Down East CU, Five County CU, Lisbon Community FCU and Midcoast FCU – will offer no-interest loans of as much as $2,000 to the 400 people who pre-paid for oil through Thibeault Energy but did not receive deliveries. People will have one year to pay back the loans, and will need to show proof that they lost money due to Thibeault’s closing.
The credit unions will make payments directly to oil companies.