Brookline’s MAFCU Federal Credit Union’s Sit and Save Program has saved members nearly $300,000 since it was launched in April.

The program helps members save money by refinancing loans held at other institutions at MAFCU. The goal is to save members collectively $1 million in 2011, according to a statement.

During a Sit and Save appointment, a member meets with a MAFCU employee to review his or her current loans. If the credit union cannot help the member save money, it will deposit $25 into the member’s Share Savings Account. The credit union also offers financial counseling with Money Management International.

"Sit and Save offers us an opportunity to connect with our members one-on-one to review their finances and help them reach their goals," said Michael Shuman, MAFCU’s vice president of lending. "When we are able to save members money on interest payments or monthly cash flow, they are happy and so are we."