Evergreen Credit Union expands into four Maine counties
Portland-based Evergreen Credit Union, which serves 27,200 members in two counties, is expanding into four more.
In addition to Cumberland and York counties, Evergreen now provides personal and business services in Androscoggin, Lincoln, Oxford and Sagadahoc, the member-owned financial cooperative said Wednesday.
The Maine Bureau of Financial Institutions approved Evergreen’s application for the new territory earlier this month.
“This is a major win for everyone in these four northern counties bordering Cumberland County, who have been asking us for years if they could access our services,” Evergreen President and CEO Jason Lindstrom said in a news release. “There are so many that filter between all these counties that now can take advantage of our technology and products.”
Besides its Portland headquarters, Evergreen currently operates branches in Naples, South Portland and Windham and a commercial banking center in Westbrook.
A spokesman, Howard Lowell, told Mainebiz the credit union has no immediate plans to launch branches in the four additional counties. But new brick-and-mortar is “certainly an option we are considering for the future,” he said.
With Evergreen’s online banking technology, “we anticipate a surge of new members and are ready to serve them,” he added.
Evergreen has assets of $474 million, ranking fifth among those of Maine-based credit unions, according to the 2022 Mainebiz Book of Lists. The credit union was founded in 1951 to serve employees of the S.D. Warren paper mill in Westbrook, and eventually grew to cover Cumberland County. Evergreen expanded into York County in 2018.
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