County Federal Credit Union eyes expansion

By Barbara Scott
Staff Writer
    HOULTON — The County Federal Credit Union will soon be breaking ground on a new bank located on North Street.
    “We are really excited about having the opportunity to partner with an already existing and well respected Credit Union,” stated Ken Hensler, president of the County Federal Credit Union. Hensler’s remarks pertained to the Oct. 1, 2010, merger of the former Houlton Federal Credit Union with the existing CFCU now with locations in Caribou, Presque Isle, Fort Fairfield and Houlton.
    “We (board of directors) recognized the growth potential opportunity of being in Houlton,” said Hensler, “and it is definitely easier to partner with an institution that shares the same philosophy.”
    “We are very sensitive to the downtown area in any town that we locate in, including Houlton, but there was no room to establish a drive-up at the original location,” said Hensler. According to Hensler earlier in July the CFCU closed on property located on approximately two acres between Irving and Ivey’s Motel.
    “The plans for the new Houlton location are currently being designed and will serve the needs of our customers including drive-up banking and ATM services. The pleasant new facility will also house a community meeting room,” Hensler said. “It will include space for additional staff and will be very convenient to our customers regarding being situated within a retail area so that members will have access to their other needs beyond banking,” he added.
    “Our intent was to expand the services available to our Houlton customers, immediately offering real estate mortgage lending and certificates of deposit for more than one year.
    Through the recent merger, the Houlton location has increased staff and is now able to provide Saturday morning banking hours.
    According to Hensler, the County Federal Credit Union with an estimated 17,000 members has actually grown 7 percent since the end of 2010.
    Hensler attributes the growth to the confidence that local people develop doing business with local people.  “The trouble in today’s global and national economy moves people to do business with people they know. The CFCU is a strong financial organization and offers very competitive dividend rates,” he said
    “I think this is a great place to work and do business, and I’m not just saying that because I sit in this corner office.”
    Business hours at the County Federal Credit Union in Houlton are Monday through Thursday, 8:30 a.m. to 4:30 p.m.; Friday 8:30 a.m. to 6 p.m. and Saturday from 9 a.m. to noon.