PeoplesChoice Credit Union
Encyclopedia
PeoplesChoice Credit Union is a state-chartered credit union
headquartered in Biddeford, Maine
and regulated under the authority of the National Credit Union Administration
(NCUA). PeoplesChoice has $135 million in assets, approximately 13,500 members, and 5 branches.
. The offices for the credit union were initially located in the church's basement. In 1974, the offices were moved to a building behind the church. St. Joseph's operated there until 1984, when it purchased a building in Biddeford for its first branch office. The credit union merged with the St. Ignatius Federal Credit Union of Sanford, Maine
in 1987. The credit union's membership was restricted to parishioners of the St. Ignatius and St. Joseph's churches and some select employee groups until August 2000, when they were granted a county charter from the State of Maine. The charter expanded the credit union's field of membership to anyone who works, lives, or attends school in York County, Maine
. Come 2001, Sprague Sanford Federal Credit Union was merged with St. Joseph's. A year later, the credit union opened an office in Wells, Maine
.
On February 1, 2006, St. Joseph's changed its name to PeoplesChoice Credit Union. The credit union apologized in 2007 after printing an anti-semitic ad in the Portland Press Herald. In 2008, PeoplesChoice initiated a series of financial education workshops for the general public covering topics such as budgeting, loans, and mortgages.
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
headquartered in Biddeford, Maine
Biddeford, Maine
Biddeford is a town in York County, Maine, United States. It is the largest town in the county, and is the sixth-largest in the state. It is the most southerly incorporated town in the state and the principal commercial center of York County. The population was 21,277 at the 2010 census...
and regulated under the authority of the National Credit Union Administration
National Credit Union Administration
The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...
(NCUA). PeoplesChoice has $135 million in assets, approximately 13,500 members, and 5 branches.
History
St. Joseph's Credit Union was founded in 1963 by a group of parishioners from St. Joseph's Church in Biddeford, MaineBiddeford, Maine
Biddeford is a town in York County, Maine, United States. It is the largest town in the county, and is the sixth-largest in the state. It is the most southerly incorporated town in the state and the principal commercial center of York County. The population was 21,277 at the 2010 census...
. The offices for the credit union were initially located in the church's basement. In 1974, the offices were moved to a building behind the church. St. Joseph's operated there until 1984, when it purchased a building in Biddeford for its first branch office. The credit union merged with the St. Ignatius Federal Credit Union of Sanford, Maine
Sanford, Maine
Sanford is a town in York County, Maine, United States. The population was 20,798 in the 2010 census, the highest of the York County towns, and the 8th largest in the state. Situated on the Mousam River, Sanford includes the village of Springvale...
in 1987. The credit union's membership was restricted to parishioners of the St. Ignatius and St. Joseph's churches and some select employee groups until August 2000, when they were granted a county charter from the State of Maine. The charter expanded the credit union's field of membership to anyone who works, lives, or attends school in York County, Maine
York County, Maine
York County is a county located in the U.S. state of Maine. In 2010, the population was 197,131. Its county seat is Alfred.Founded in 1636, it is the oldest county in Maine and one of the oldest in the United States....
. Come 2001, Sprague Sanford Federal Credit Union was merged with St. Joseph's. A year later, the credit union opened an office in Wells, Maine
Wells, Maine
Wells is a town in York County, Maine, United States. Founded in 1643, it is the third-oldest town in Maine. The population was 9,400 at the 2000 census. Wells Beach is a popular summer destination.-History:...
.
On February 1, 2006, St. Joseph's changed its name to PeoplesChoice Credit Union. The credit union apologized in 2007 after printing an anti-semitic ad in the Portland Press Herald. In 2008, PeoplesChoice initiated a series of financial education workshops for the general public covering topics such as budgeting, loans, and mortgages.