For the better part of its more than 60-year history, Acadia Federal Credit Union has stuck to its rural roots.
The member-owned financial institution, created as a result of the merger between two St. John Valley credit unions, primarily operated and grew into small communities in northern Aroostook County, from St. Francis to Madawaska to Ashland.
But in 2017, the cooperative merged with Eastern Maine Medical Center Federal Credit Union in Bangor, testing its service in an urban setting for the first time. It went really well, Acadia FCU president and CEO Joey Cannan said, so the credit union is expanding again.
It opened a new branch at 618 Wilson St. in Brewer in early March, and a location on Main Street in Presque Isle is set to open on Monday. They are the institution’s eighth and ninth branches.
“We were looking for other opportunities where we could bring what we offer into those communities and make a difference and make an impact,” Cannan said in an interview for the Bangor Daily News.
The Presque Isle branch is at 725 Main St., the site of the former Bonanza Steakhouse. A floor to ceiling “This is Presque Isle” mural adorns the entranceway of the newly-constructed building with decades-old photos of the city. A wall-to-wall picture of a potato field overlooks a sitting area.
“You’re gonna find that it’s a welcoming space,” Cannan said. What we really did when we designed the building is try to find a way to tie it into the local community, into the local culture.”
Acadia FCU — which originated and is headquartered in Fort Kent — is aiming to become a part of its new markets through philanthropy and establishing relationships, rather than being just another financial institution. The company believes that’s its obligation as a “good corporate citizen,” Canaan said.
“If we look at our member base in Fort Kent, it’s generational. We’ve built deep relationships with those people. We’ve helped them build businesses. We’ve helped them in the times that they were struggling, and they’ve been loyal to us as well,” he said. “It’s not just about savings and checking and loans.”
The Brewer location opened with seven employees. The Presque Isle branch has six.
“This team is excited to be part of this community, serving out members and gaining new members,” Presque Isle Branch Manager Kerry Crandall said Thursday.