By Paula Brewer
Staff Writer
CARIBOU — The County Federal Credit Union will soon expand its reach in Presque Isle with the opening of a new operations center this fall.
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Aroostook Republican photo/Mark Putnam County Federal Credit Union CEO and President Ryan Ellsworth stands at the entrance to the future home of his company on Carmichael Street in Presque Isle. CFCU has purchased the former Maine Public Service operations center and is repurposing the facility to serve as the financial institution’s administrative headquarters and processing center. |
The Caribou-based financial institution has simply outgrown its current “back office” space, acknowledged CEO Ryan Ellsworth last week.
“We are providing more and more services these days that require more back office support, such as County MoGo and our new Mobile Deposit features,” he said. “These types of services really just require a phone call to help a customer, so we need to have an operations center to support those services.”
CFCU has purchased the former Maine Public Service Company site on Carmichael Street and renovations are already underway to transform the space into a workable home for the credit union’s needs.
Approximately 12 staff members from the overcrowded Caribou main office will be relocating, Ellsworth said; the tally includes three people from accounting, two each from collections, card services and information technology, as well as Ellsworth himself and Executive Vice President Dan Bagley.
“There will be no exterior expansion,” Ellsworth stated. “We’re using the existing footprint, and have hired a local contractor to do the work.”
Ellsworth explained the building was actually divided into two areas, one half finished as a large open office and the other as a combination garage and loading dock. Workers will renovate and create a total of 16 offices, while adding “cosmetic upgrades” to kitchen and boardroom areas.
“We’re hoping that it’s complete by late October, and that we’re able to start our work there in mid-November,” he added.
Ellsworth was positive about the possibilities represented by the new center. “It’s a great location, and we’re excited about it. This will give us the ability to add more products and services and the additional staff to meet the needs of our growing membership.”
Indeed, CFCU’s total membership as of June 30 was 17,325, according to an article by Lori Valigra in Mainebiz. In that article, Ellsworth said he’d like to see the financial institution’s assets grow 3.6 percent, from $202.4 million to $210 million next year, and would also like to see a 1.5 percent membership increase.
“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,” he told Valigra.
It all boils down to a simple idea for Ellsworth. “We have a member promise, which is to work in your best interest, simplify your financial life, make it easy to do business with us and partner with you to achieve financial success. We want to live up to that promise to our members.”
