Bath-based credit union gives itself a new name

Five County Credit Union building exterior

Photo / Courtesy of Ancorum Credit Union Bath-based Five County Credit Union rebranded as Ancorum Credit Union. Building signage hasn’t been changed yet.

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By Laurie Schreiber

After 18 months of deliberation, Bath-based Five County Credit Union has rebranded as Ancorum Credit Union.

The change became effective on Monday, with a new logo, signage and marketing material designed to reflect the organization’s Maine and Bath shipbuilding roots, the company said in a news release.

The word “ancorum” blends the words "anchor," a nod to the credit union's beginnings at shipbuilder Bath Iron Works, and "quorum," which represents a group or the community.

Five County was chartered in 1956 as Bath Iron Works Federal Credit Union. Today, it has 30,929 members across 12 counties and $396.7 million in assets. The credit union was ranked No. 11 in the 2025 Mainebiz Book of Lists, based on assets as of Sept. 30, 2024.

In addition to online and mobile banking, it has 15 branch offices in Greater Portland and central and midcoast Maine.

“Our story began in 1956, when a small group of employees from Bath Iron Works, struggling to access basic banking services, came together to form their own credit union,” Julie Marquis, the credit union’s president and CEO, said in a letter to members. “They opened with just one part-time staffer. The savings were kept safe in a lunchbox.”

The name change comes more than a year after Northeast Credit Union, a Portsmouth, N.H.-based institution that got its start in 1936 at Portsmouth Naval Shipyard in Kittery, rebranded as Lighthouse Credit Union.

Expansion drive

Over the decades, Five County has expanded its reach, introduced new services, embraced technology and adapted to changing needs, Marquis said. It has also expanded into new areas of commercial and agricultural lending.

The previous name, Five County Credit Union, was geographically limiting and created confusion over membership eligibility, according to the organization.

The logo design is meant to evoke two things: a tree, the sea and a mountain or the sun reflects the Maine landscape, but also can be seen as an anchor, reflecting nautical heritage. A rebranded color palette are meant to evoke maple, pine, pollen, lichen and lobster.

Ancorum will continue as a state-chartered credit union with deposit insurance from the National Credit Union Administration

There will be a gradual introduction of the Ancorum name on signage, debit cards and credit cards. Marketing materials are changing and the new name will appear on statements within the next month. Member numbers, account numbers and payment or deposit information will not change.