Peoples Choice Credit Union

Overview

Peoples Choice Credit Union (EIN: 480174445) is a nonprofit, state-chartered credit union headquartered in Saco, Maine. Founded in 1963, it provides a range of financial services to its members, including savings accounts, checking accounts, consumer loans, mortgages, and credit cards. As of December 2024, the credit union reported approximately 20,737 members and $352.7 million in total assets, making it one of the prominent credit unions in the region, ranking as the 13th largest in Maine and the 920th largest in the United States[1][2].

History

Initially established as St. Joseph's Credit Union by parishioners of St. Joseph's Church in Biddeford, Maine, the organization has undergone several transformations over the decades. Originally operating from the church's basement, the credit union expanded its facilities in 1974 and secured its first dedicated branch office in 1984. In 1987, it merged with the St. Ignatius Federal Credit Union, broadening its membership base to include parishioners from additional community churches.

In August 2000, St. Joseph's Credit Union was granted a county charter that allowed it to serve anyone who works, lives, or attends school in York County, significantly expanding its potential member base. Several strategic mergers followed, including with Sprague Sanford Federal Credit Union in 2001. On February 1, 2006, the credit union rebranded itself as Peoples Choice Credit Union to better reflect its broader mission and community focus. The institution has since emphasized financial education, launching workshops for the public on various financial topics[1][3].

Services

Peoples Choice Credit Union offers a range of services designed to cater to the needs of its members. These include:

• Savings Accounts: Traditional savings accounts to help members save for future goals.

• Checking Accounts: No-fee checking options with features like mobile banking and overdraft protection.

• Loans: A variety of consumer loan options, mortgages, and financial products aimed at facilitating homeownership and personal financial management.

• Credit Cards: A selection of credit cards with no annual fees and competitive rates, along with rewards programs that allow members to earn points redeemable for various benefits[2][3].

Mission and Community Engagement

Peoples Choice Credit Union is committed to the principle of “people first,” striving to prioritize the needs of its members, employees, and the communities it serves. The credit union emphasizes the importance of financial success for its members and actively engages in community support initiatives, including financial education programs aimed at improving financial literacy[1][3].

Conclusion

Overall, Peoples Choice Credit Union stands as a vital financial institution in southern Maine, focusing on member empowerment and community support. With a history of growth and adaptation, it continues to offer innovative financial solutions tailored to the needs of a diverse membership.