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W W W. M A I N E B I Z . B I Z 25 A P R I L 1 7 , 2 0 1 7 F O C U S B A N K I N G / F I N A N C E Richard Lachance, president and CEO of Connected Credit Union, agrees. "People in Maine, probably more north of Portland, still like that interaction of going into a branch and conducting business with a live person," says Lachance. Last year, Connected invested $2 million in on the purchase and construction of a branch in Augusta that combines two smaller, limited-service Augusta branches. e site off ers additional offi ce space and parking, along with better visibility and room to grow. Lachance said it has resulted in growth in membership and increased loan activity. "Although we off er the technology and there's a certain segment of membership that uses that, there's still a large segment that prefers to do business in per- son," Lachance says. "Maine is a little unique in that, and I think that's one reason you see a lot of branches popping up. ere's still a lot of expansion going on in Maine among banks and credit unions." Further expansion ahead At Infi nity, Hayes anticipates opening another four to fi ve branches in the next fi ve to six years. Infi nity is wrapping its branch strategy around high-growth com- munities, she says. It has offi ces in Westbrook, Bangor, Arundel and, for now, 4 Davis Farm Road in Portland. e Baxter Boulevard site in Portland will replace Infi nity's branch on Davis Farm Road, in the North Deering neighborhood. e Davis Farm Road site is three miles from Infi nity's high-performing Westbrook branch, and Hayes says it's likely that Westbrook has been drawing customers away. "So we started to scout around town to look for up-and-coming markets"— markets with a lot of consumer potential, with the decision also informed by a customer survey, she says. e Baxter Boulevard location is near Hannaford and the University of Southern Maine. It will off er an up-and-coming business and residential community as well as steady traffi c. In addition, a site is in sync with Infi nity's new small business services channel, off er- ing loan and business development support services, including expert-led small-business workshops, with expanded marketing outreach to spread the word. "So it's nice to have a building, but people need to know you represent more than just the build- ing," Hayes says. "We're the oldest credit union in Maine"— founded in 1921 in Portland — "and one of the largest in Maine. But not many people know much about us: In the past we haven't had a strong marketing plan. Our push is starting now." It took just over a year to fi nd the Baxter Boulevard site. Parameters included having room for a moderate-size building of 2,800 square feet, a drive-up, parking and green space. In keeping with today's range of banking services, it will off er teller service, self-service kiosks and sit-down stations. "We wanted to have traditional services for peo- ple who want to bank in traditional ways," Hayes says. "But at the same time, we wanted to be able to support people who just want a quicker transaction and are comfortable with technology." L a u r i e S c h r e i b e r , M a i n e b i z s t a f f 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 CONSULTING | AUDIT | TAX | VALUATION Our team of CPAs and consultants can help you gain control of risks, costs, and governance. We provide audit, tax, information technology, and management consulting advice that gives you traction in a changing environment. Know where you stand, with advisors who dig deep. Learn more at berrydunn.com or call 800.432.7202. GAIN FIRM FOOTING Learn more. Visit us at berrydunn.com or call 800.432.7202.

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