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PeoplesChoice Credit Union is a state-chartered
credit union A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including deposit accounts, provisi ...
headquartered in
Saco, Maine Saco is a city in York County, Maine, York County, Maine, United States. The population was 20,381 at the 2020 United States Census, 2020 census. It is home to Ferry Beach State Park, Funtown Splashtown USA, Thornton Academy, as well as General ...
and regulated under the authority of the
National Credit Union Administration The National Credit Union Administration (NCUA) is a government-backed insurer of credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the Federa ...
(NCUA). PeoplesChoice has $300 million in assets, approximately 20,000 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, Maine Biddeford is a city in York County, Maine, United States. It is the principal commercial center of York County. Its population was 22,552 at the 2020 census. The twin cities of Saco and Biddeford include the resort communities of Biddeford Po ...
. 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 is a city in York County, Maine, United States. The population was 21,982 in the 2020 census, making it the seventh largest municipality in the state. Situated on the Mousam River, Sanford includes the village of Springvale. The city ...
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 is the southwesternmost county in the U.S. state of Maine, along the state of New Hampshire's eastern border. It is divided from Strafford County, New Hampshire, by the Salmon Falls River, and the connected tidal estuary—the Pi ...
. 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 is a resort town in York County, Maine, United States. Founded in 1643, it is the third-oldest town in Maine. The population was 11,314 at the 2020 census. Wells Beach is a popular summer destination. History The Abenaki Indians call ...
. On February 1, 2006, St. Joseph's changed its name to PeoplesChoice Credit Union. In 2008, PeoplesChoice initiated a series of financial education workshops for the general public covering topics such as budgeting, loans, and mortgages.PeoplesChoice financial series.
''Seacoast.'' September 25, 2008. Retrieved June 29, 2018.


References


External links


Official website
{{DEFAULTSORT:Peopleschoice Credit Union Credit unions based in Maine Banks established in 1963 Biddeford, Maine Saco, Maine Companies based in York County, Maine 1963 establishments in Maine