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March 15, 2019

Growing Acadia Federal Credit Union to open Bangor Broadway branch

Courtesy / Acadia FCU A rendering of the future Broadway Bangor branch of Acadia FCU, which will be in the former Rite Aid building, which is being renovated for the credit union, as well as other tenants.

Fort Kent-based Acadia Federal Credit Union will open a new branch in the former Rite Aid building at 713 Broadway, Bangor, to accommodate growth in that area’s market.

“Acadia FCU’s success and growth over the last decade has outpaced the credit union’s infrastructure, making it evident that a new branch was needed,” the credit union said in a news release announcing the move.

The bank already has two Bangor branches, at Northern Light Eastern Maine Medical Center and on Stillwater Avenue. Its other five branches are in Aroostook County — in Fort Kent, Madawaska, St. Agatha, St. Francis and Ashland.

“We have been pleasantly surprised with the growth we are experiencing, especially in the Bangor market,” said Acadia FCU President and CEO David Desjardins. “This new building will help us better serve our membership in the greater Bangor area, while affording us additional space for future staff.”

The bank has hired a manager and will hire three additional full-time employees and one part-time, and anticipates more in the future as the bank grows, the release said.

Acadia FCU executives and the board of directors analyzed demographic data and traffic patterns in the greater Bangor area to help determine optimal locations for a new branch, the release said. The vacant Rite Aid building fell within one of the prime real estate areas that were targeted during their assessment. The building has been vacant since the Rite Aid there closed in January 2018.

Project developers have been working with Acadia to change the layout, design and look of the building. Desjardins said. The bank is expected to open in October.

“When we’re done with the renovations, it will look nothing like the retail pharmacy that once occupied the space,” Desjardins said.

Acadia FCU will subdivide the 13,000-square-foot building and lease 4,500 square feet to another business. It is estimated that from planning to completion, it will take a total of approximately seven months to complete renovation. Construction on the building will begin in early May.

The new full-service Acadia FCU branch will feature modern teller pods, state of the art technology including a member video room, 24-hour ATM, plenty of office and meeting space, drive-up lanes and ample parking. It will also have Saturday business hours.

“We have designed this branch with our members needs in mind,” said Broadway branch manager Stacy Edgecomb. “It’s exciting to be part of a growing credit union in the Bangor area. I look forward to meeting the current membership and working with new members as we settle into our new location.”

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