David Desjardins, president/CEO of the $100 million Acadia Federal Credit Union, recalls seven years ago when rural Aroostook County in far northern Maine had seven credit unions.
That's now three with the May 1 merger of the $15 million St. Agatha FCU by Acadia FCU in nearby Fort Kent.
"It's pretty hard for credit unions like ours locked up here against the Canadian border to find opportunities to grow, and so we did approach St. Agatha about following through on a merger and they agreed," Desjardins said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.