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February 21, 2019

Maine Savings Credit Union opens Portland branch

Maine Savings Federal Credit Union, headquartered in Hampden and the largest credit union in Maine as measured by total assets, expanded its footprint with a new branch, at 883 Forest Ave. in Portland, bringing the number of branches to 11.

The Portland branch opened Dec. 4, with plans for a grand opening celebration to be held this spring, according to a Feb. 20 news release.

"The new office will help to better serve our existing member base and expand our world-class products and services to a larger and vibrant population," President and CEO John Reed said in the release.

The Forest Avenue branch features a modern interior aimed at improving member experience with an open layout aimed at offering an inviting atmosphere along with a high-tech design. The branch is intended to be a resource center for members and the public to utilize banking professionals and high-tech tools. Plans are underway to engage other financial professionals, such as CPAs, attorneys, realtors and more to assist in offering free education such as seminars on home buying, starting a business and retirement planning.

Founded in 1961, Maine Savings has nearly 30,000 members, 11 branches, more than 100 employees, and assets of $425 million.

Branches are in Bangor, Bar Harbor (Jackson Laboratory), Brewer, Corinth, Ellsworth, Hampden, Milo, North Vassalboro, Old Town and Portland.

According to its website, annualized asset growth was well over 20% for 2018. Loan growth also exceeded 20%. These numbers exceed other credit unions in the state.

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