Good financial news seems hard to come by sometimes. Everybody is always sending you the latest piece of downbeat information, so that you will publish something that furthers their effort to gain new government funding, bashes their political opponent or convinces people to buy their product.

So, today's news release from Saco-based PeoplesChoice Credit Union stood out: The organization has no mortgage loans in foreclosure and, in fact, hasn't had a foreclosure in more than 20 years, it says.

PeoplesChoice is highlighting that commendable record because many consumers became concerned about the health of their financial institutions after California's IndyMac Bank failed and some analysts warned that other credit unions and banks also might be at risk.

The government seizure of IndyMac's assests represented the second-biggest bank failure in U.S. history and came after customers, worried about their deposits, made a run on the institution.

Fortunately for Mainers, PeoplesChoice is not alone among Maine credit unions and banks in weathering the foreclosure crisis well.

While up, the number of foreclosures at Maine's 34 state-chartered banks and credit unions remains small, according to a study by the Maine Bureau of Financial Institutions. Those institutions, along with 18 federally chartered banks and credit unions that participated on a voluntary basis, completed a survey of foreclosure activity between from 2006 and March 2008.

The state-chartered institutions said that one loan for every 528 was in the process of foreclosure. In addition, for the previous three-month period, there were 28 completed foreclosures, representing one for every 3,130 loans.

Even so, it's important for consumers to know what protections their deposits do (or do not) have at credit unions and banks.

In general, federal deposit insurance guarantees up to $100,000 per depositor, per insured bank. Certain retirement accounts are insured up to $250,000 per owner, per insured bank.

Detailed information about banks insurance and a handy risk calculator offered by credit union regulators are good places to start.

But at least for now, it appears that Maine financial institutions are giving customers fewer things to worry about than their less-prudent colleagues in many other parts of the country.

E-mail this entry to a friend