Town & Country FCU, South Portland, Maine, now offers pet loans. Town & Country FCU announced that their loan department is accepting loan applications to cover expenses accrued from medical procedures, emergencies, or vet visits for its members' four-legged companions. Since its launch, more than a dozen members have made inquiries into the loan with amounts averaging above $1,000 at an interest rate of 6.99%.
Town & Country FCU President/CEO, David Libby, told Mainebiz that residents in Maine have, "a high level of pet ownership," and that his own staff have difficulty covering medical expenses and emergency veterinary visits. "People enjoy their pets, and I'm sure it is going to continue to get more expensive to own a pet." Libby is a proud owner of a labradoodle.
Given that Maine is the second state to have the highest number of households with cats, and among the top twenty-five in dog ownership, Town & Country jumped on the initiative.
Libby noted the loans are also available to cover pet adoption fees. Town & Country FCU recently signed on to sponsor 'Ales for Trails', a dog-friendly beer festival organized by the Animal Refuge League of Greater Portland on Aug. 24.
"We hope people look to us for solutions and look at all the other services we offer at outstanding and extremely competitive pricing,” explained Libby. "Hopefully someone will give us a better look and bring their business to us."