Evergreen Credit Union, a $269 million-asset institution based in Portland, Maine, is expanding its field of membership into York County, the credit union announced Monday.
The expansion was granted by the Maine Bureau of Financial Institutions. York County has been added immediately.
The credit union—one of Maine’s largest—has already served Cumberland County for more than 64 years, and has branches in Portland, South Portland, Windham and Naples.
Evergreen CU uses a shared branch network that includes ATMs in York County, which many of its Cumberland County members already use, so although the CU's ability to add new members from this geographic area is new, it has had an indirect presence in the area for some time, making it possible for Evergreen to reach people in York County as of the approval of the expansion.
Evergreen will ramp up its marketing and see what organic growth happens over the course of a year, Jason Lindstrom, president and CEO of Evergreen CU, told the Credit Union Journal.
If there is sustained growth in the new county, then the credit union will explore options for building, buying or leasing a space for a branches in that area, rather than simply relying on the shared branch and ATM networks, he said.
“We are a growing credit union with a lot to offer to both counties,” Lindstrom said in a press release. “We recognized that York County is growing and will eventually benefit from an Evergreen Credit Union branch and this expansion begins a move in that direction.”
