cPort Credit Union expands
A Portland-based credit union that has historically served government employees is opening a new branch on Forest Avenue and planning to hire between five and seven new employees.
cPort Credit Union is renovating the former Arby's at 285 Forest Ave. for $1.2 million, according to a permit filed with the city. The credit union bought the property in early September, according to cPort CEO and President Gene Ardito, and will demolish the current building. The new branch will open next spring.
"It will be a full-service branch with very good visibility," Ardito said, right off I-295 and on a major thoroughfare. "It's accessible in four directions: north, south, east and west. From a marketing standpoint, good visibility is certainly beneficial."
The branch will be the credit's union's fourth. Its headquarters are on Riverside Industrial Parkway in Portland, and it has other locations in August and Scarborough, built in 2010 and 2007, respectively.
cPort Credit Union, which six years ago changed its name from the Government Employees Credit Union of Maine, has $132 million in assets and over 13,000 members, according to Ardito. It was established in 1931.
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