WESTBROOK, Maine — Shared branching is on a roll in Maine with four credit unions and 12 locations on board since the end of June, the Maine Credit Union League said today.
"For us in a rural area with our members traveling and shopping 45 miles away, it's a matter of providing access and convenience to remain competitive," said Rhonda Taylor president/CEO of the $57 million Maine Highlands Federal Credit Union in Dexter, located in central Maine.
Taylor said her CU, with four branches and whose members do business in Bangor closer to the coast, said the shared operation may not prove to be a money-maker "since we may find our members using other branches rather than the other way around." Nonetheless, member service is key, she said.
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The other three CUs being added on include: York County FCU, Sanford; Greater Portland Municipal and Semiconductor of Maine FCU, both of southern Portland.
A league spokesman said the 12 new shared locations brings total facilities to 60 with 23 participating CUs. When shared branching started in 2004, there were six CUs and 11 locations. "With shared branching, credit unions are second only to Key Bank with the most facilities in the state," said the spokesman.
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