Credit union scoops up Border Trust branch
Border Trust has closed a deal to sell its Cony Circle branch in Augusta to a Waterville-based credit union.
New Dimensions Federal Credit Union plans to renovate the branch and open by the end of February, according to the Morning Sentinel. New Dimensions President Ryan Poulin said in a release that the credit union has considered opening a second location for a few years, and the opportunity to buy the Border Trust location was "too good to pass up." New Dimensions serves Kennebec and Somerset counties, and has $56.7 million in assets and 7,700 members. The sale price wasn't disclosed.
Earlier this month, Border Trust announced it would close its Cony Circle branch and consolidate its Augusta operations at its corporate office on Water Street by Nov. 14. The move is part of the bank's efforts to boost its capital and meet federal regulations as part of a federal cease-and-desist order issued to the bank in August 2009.
Go to the article from the Morning Sentinel >>
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