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V O L . X X I N O. X V I e merger gives the Caribou-based credit union an offi ce in Houlton with 11 employees, three of whom have been added since the merger. e combination brought in the 3,300 members of the Houlton Federal Credit Union with e County Federal Credit Union's own members to total 17,325 as of June 30. e County Federal Credit Union had $202.4 million in assets as of June 30, a number Ellsworth would like to see grow 3.6% to $210 million a year from now. He'd like to see membership rise 1.5%, to 17,600, in a year. "I think that is very good growth, particularly for being in an area of Maine that seems to have an overall declining population from year to year," says Ellsworth, who became president and CEO of the credit union in March 2014 after being promoted from executive vice president. He also plans to add a fi fth location to the current headquarters in Caribou and branches in Houlton, Presque Isle and Fort Fairfi eld. e credit union plans to move its accounting and back offi ce computer operations from cramped quarters in Caribou to a new facility in Presque Isle by mid-October or November. Most of the workers for the new 7,500-square-foot building already are hired, so the credit union will send them to the new building. Ellsworth expects to add only a handful of employees to its current 51 over the next few years. at includes a new posi- tion for a chief fi nancial offi cer within the next 18 months at the new Presque Isle facility and a branch administrator within 24 months. CU head knows banking, too Ellsworth is unusual in that he has experience working at both a credit union and a bank. e Presque Isle native worked at Katahdin Trust Co., a bank with $644 million in assets as of Dec. 1. He was a credit analyst in the commercial loan department there, and was promoted to commercial loan offi cer before leaving in December 2004 to become execu- tive vice president of the credit union. Ellsworth, a University of Maine at Orono graduate who majored in business administration, initially thought he wanted to be a stockbroker, and did an internship in the Bangor offi ce of Paine Webber (now owned by Swiss bank UBS AG). The County Federal Credit Union 82 Bennett Drive, Caribou President/CEO: Ryan Ellsworth Founded: 1956 Activity: Federally chartered credit union Rank: 10th among Maine's 60 credit unions Assets: $202.4 million (as of June 30) Employees: 51 (including part-time) Members: 17,325 (as of June 30) Offices: Four Contact: 498-8756 / www.countyfcu.org P H O T O / DAV E C L O U G H » C O N T I N U E D F R O M C O V E R Growth spurt The County Federal Credit Union expands its offices, assets under new CEO Ryan Ellsworth, president and CEO of The County Federal Credit Union, sees growth potential in Aroostook County. J U LY 2 7 , 2 0 1 5 14

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