Mainebiz

W W W. M A I N E B I Z . B I Z 25 A P R I L 1 , 2 0 2 4 F O C U S B A N K I N G / F I N A N C E / I N S U R A N C E "We'll reopen that location shortly," says Montgomery-Rice. "It will be a little bigger, more modern, a little more convenient for customers and a little more private." e organization aims to accommodate evolving customer needs. When existing locations are remod- eled or new branches are opened, the goal is to offer a more open concept with glass-windowed offices and good sightlines that allow employees to detect and greet customers when they enter the building. "When a customer comes in, they want to be greeted by somebody pretty quickly and feel it's warm and inviting," he says. With automated banking, long teller lines just don't exist the way they once did. So branches are built with more of an emphasis on private offices. "People are coming in less and less to do deposit transactions," says Montgomery-Rice. "We've got technology that lets them do that from their own kitchen table. But when they do come in for advice, they tend to want to be more private. So our branches tend to have less lobby and more offices." Branching not only represents the bank's growth but also drives further growth. "We had a fair amount of customers in Windham who were driving to our branches in Portland or Auburn," he says. "We opened a branch in Windham and that took off. It's now pretty siz- able. Usually you develop a critical mass of custom- ers and it grows from there." L a u r i e S c h r e i b e r , M a i n e b i z s e n i o r w r i t e r , c a n b e r e a c h e d a t l s c h r e i b e r @ m a i n e b i z . b i z Our Banking and Financial Services team provides legal support to an array of financial institutions, including depository and non- depository banks, other financial services companies and holding companies. Reach out to discover how we can assist with regulatory, transactional and dispute resolution matters you may be facing. We know banking. Credit union transitions C redit unions are also undergoing transitions. University Credit Union said it expects to open its first credit union branch in Kennebec County early this summer, at 67 Sewall St. in Augusta — renovating a building previously occupied as a Dunkin' drive-up into a modern branch location with lobby and drive-up services, and featuring state-of-the-art technology with its expanding fleet of video teller machines. Augusta-based Maine State Credit Union has been in expansion mode over the past couple of years. It opened branches in Gray and Rockland in 2022 and 2023 and plans to open a branch in Belfast in 2025. It's also expanding back-office operations to a new facility at 347 Maine Ave. in Farmingdale. The location will serve as the home base for the credit union's operations and support teams. "We are growing," Stephen Wallace, the credit union's president and CEO, said earlier this year. "Most of our employees are in central Maine, and I wanted a state- of-the-art back-office facility close to where they live. This location fits all the requirements; it is in Central Maine and close to our headquarters in Augusta." The center will house its eBranch call center, loan servicing and online lending teams. Other departments might move to the location as their groups outgrow their current space in Augusta. The space will also house a fitness center and have an ATM for members to use. It's expected the location will open this spring. P ROV I D E D P H O T O / M A I N E S TAT E C R E D I T U N I O N Stephen Wallace, president and CEO of Maine State Credit Union.

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