Acadia Federal Credit Union purchases building for new Bangor branch
ST. JOHN VALLEY and BANGOR, Maine — Acadia Federal Credit Union on March 4 announced plans to open a new branch in Bangor. The credit union recently purchased and will renovate the former Rite Aid building at 713 Broadway.
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, credit union officials 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 vacant Rite Aid building fell within one of the prime real estate areas that were targeted during their assessment.
“We have been pleasantly surprised with the growth we are experiencing, especially in the Bangor market,” said Acadia FCU president/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 new branch will feature modern teller pods, a member video room, 24-hour ATM, office and meeting space and drive-up lanes. The credit union will also offer Saturday business hours.
Acadia has hired a manager for this new location and will also hire three additional full-time position and one part-time staffer upon opening. More positions will likely be created to fill the needs of the growing financial institution.
“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.”
Project developers have been working with Acadia to completely change the layout, design and look of the building.
Desjardins stated, “When we’re done with the renovations, it will look nothing like the retail pharmacy that once occupied the space.”
Acadia FCU will subdivide and lease 4,500 square feet of the building to a new, incoming business. Officials estimate it will take seven months to complete renovation to the 13,000-square-foot building before opening to the public. Construction on the building will begin in early May for an anticipated early October opening.