Evergreen Credit Union

What Evergreen Credit Union does

Evergreen Credit Union is a not-for-profit financial cooperative headquartered at 225 Riverside Street in Portland, Maine, founded in 1951 as S.D. Warren Credit Union and renamed in 1999 to reflect its broadened membership. The institution is Maine's 4th largest credit union, holding over $641 million in assets and serving more than 33,000 members across six southern Maine counties (Cumberland, York, Oxford, Androscoggin, Sagadahoc, and Lincoln) through six branches and a digital banking platform. Evergreen offers a full suite of consumer and commercial financial products, including personal and business checking and savings accounts, Visa personal and business credit cards, consumer loans (auto, RV, personal, home improvement), home mortgages and home equity products, and commercial lending spanning real estate, term, equipment, lines of credit, and SBA/FAME programs. A differentiated specialized vertical is cannabis business banking and lending.

The credit union's technology platform centers on a refreshed online and mobile banking experience launched July 2025 with Passkey authentication, Business BillPay, CreditHub credit monitoring, and e-Money digital services, complemented by third-party integrations with Paychex for payroll, QuickBooks and Quicken for accounting, and EverFI for financial education. Revenue is generated through membership share savings deposits, net interest income from the consumer and commercial lending book, mortgage origination, transaction and service fees (including Courtesy Pay overdraft protection and wire transfers), insurance referral fees, and merchant payment processing, with member benefits emphasized over profit maximization due to its cooperative structure. Evergreen supports members through 20+ community partnerships including the Maine Mariners, Portland Museum of Art, Portland Trails, WinterKids, and the newly established Evergreen Credit Union Education Foundation, which awards annual scholarships to members pursuing post-secondary education.

Name

Evergreen Credit Union

Legal name

Evergreen Credit Union

Website

https://egcu.org

Company type

Private

Founded year

1951

Operating status

Operating

Headcount range

101–250 employees

Short description

Evergreen Credit Union is a not-for-profit financial cooperative headquartered in Portland, Maine, serving over 33,000 members across six southern Maine counties with personal and business banking, consumer and commercial lending, mortgages, and specialized cannabis banking.

Ownership category

akta.pro rank

Product category

Retail and Commercial Banking (Credit Union)

NAICS

Credit Unions (52213)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Consumer banking services
• Commercial lending products
• Mortgage and home equity
• Credit union cooperative
• Cannabis business banking

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Membership/Share Savings: Members maintain share (savings) accounts as condition of membership. This establishes the cooperative relationship and provides the base deposit funding for lending activities.
2. Consumer Lending: Interest income from auto loans, recreational vehicle loans, personal loans, home equity loans, and credit cards. Core revenue driver for the credit union.
3. Mortgage & Home Loans: Home mortgage loans and home equity products generating interest income and fee revenue.
4. Business Lending: Commercial real estate loans, business term loans, equipment loans, and SBA/FAME small business loans serving business members.
5. Fee-Based Services: Various banking fees including overdraft protection (Courtesy Pay), wire transfers, and other service charges.
6. Insurance Products: Loan protection, GAP insurance, and referral fees from auto, home, and life insurance products offered through third-party providers.
7. Business Services Revenue: Merchant payment processing services and payroll solutions (through Paychex partnership).

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Evergreen Credit Union is a member-owned, not-for-profit financial cooperative offering personal and business banking services across southern Maine. Core offerings include checking and savings accounts, Visa credit cards, mortgages and home equity loans, consumer loans (auto, RV, personal, home improvement), commercial lending (CRE, term, equipment, SBA/FAME), specialized cannabis business banking, digital and mobile banking with Passkey login, merchant payment processing, and Paychex-referred payroll services.

Product overview

Evergreen Credit Union is a Maine-based credit union offering a comprehensive suite of financial products and services through both digital and branch channels. The product portfolio includes personal and business banking (checking, savings, credit cards), diverse lending products (consumer, mortgage, home equity, business, and specialized cannabis banking), digital banking platforms with mobile app access, insurance products, and financial education services. The credit union operates five retail branches and one commercial lending branch in Cumberland County, serving over 32,000 members across six southern Maine counties. Recent offerings include an Education Foundation for scholarships and a refreshed digital banking platform launched July 2025 with enhanced security features including Passkey authentication.

Differentiator

Problem solved

Functional benefit

Brands

• Evergreen Credit Union Education Foundation: Nonprofit foundation dedicated to increasing access to education via awarded scholarships to Evergreen Credit Union members pursuing post-secondary education
• Rise High-Yield Checking
• Breeze Rewards Checking
• FreshAir Checking
• Sail Student Checking
• Sprout Savings
• APEX Business Checking
• Evergreen@Work Program
• Kickstart Your Money 101
• CreditHub

Products and services

• Personal Checking Accounts Personal checking account products (Rise High-Yield Checking, Breeze Rewards Checking, FreshAir Checking, Sail Student Checking) offering different reward structures and target segments including students and high-yield savers, for individual members in southern Maine.
• Personal Savings Products Personal savings and investment products including Share Savings membership accounts, Share Certificates, Sprout Savings for youth, Money Markets, Individual Retirement Accounts (IRAs), and Ultimate Insured Accounts, serving individual members and savers in southern Maine.
• APEX Business Checking APEX Business Checking account with features tailored for small and medium-sized business banking needs including transaction processing and account management for business members in southern Maine.
• Business Savings and Money Market Accounts Business savings portfolio including Business Primary Share Savings, APEX Business Money Markets, and Business Share Certificates for business treasury management needs.
• Personal Credit Cards Visa personal credit cards including the Sunselect Credit Card offering low fixed rates for everyday personal spending and credit-building by individual members.
• APEX Business Credit Cards APEX Business Credit Cards designed for business spending and expense management needs of business members in southern Maine.
• Home Mortgage Loans Home mortgage loan products delivered through an online mortgage platform serving individual members buying primary residences in southern Maine.
• Home Equity Loans and Lines of Credit Home equity financing options including home equity loans and lines of credit allowing homeowners to borrow against accumulated property equity.
• Consumer Loans Consumer lending portfolio including Auto Loans, Recreational Vehicle Loans, EasyCash Loans, Personal Loans, and Home Improvement Loans for individual borrowers in southern Maine.
• Business Loans Comprehensive business lending portfolio including Commercial Real Estate Loans, Business Term Loans, Business Vehicle Loans, Equipment & Machinery Loans, Business Lines of Credit, and FAME & SBA Small Business Loans serving small and medium business members.
• Cannabis Business Banking and Loans Specialized banking services for licensed cannabis-related businesses in Maine, including dedicated Cannabis Business Banking accounts and Cannabis Loans designed to address the limited banking options available to the cannabis industry.
• Digital Banking Platform Online and mobile banking platform providing account management, mobile deposits, bill pay, CreditHub credit score monitoring, and Passkey authentication security, available to all members via web and iOS/Android mobile apps.
• Merchant Payment Processing Services Merchant payment processing services enabling business members to accept card payments from customers as part of Evergreen's business services platform.
• Payroll Solutions by Paychex Outsourced payroll processing services for business members, delivered through a partnership with Paychex and integrated into Evergreen's business services platform.
• Shared Branching Network Access to the Co-Op shared branching network enabling Evergreen members to conduct transactions at participating credit union branches nationwide as part of the 5th largest ATM network in the country.
• Skip-a-Payment Program Loan payment deferment program offering qualifying members a fee-free option to skip a scheduled loan payment during financial hardship.
• Evergreen Credit Union Education Foundation Scholarships Nonprofit foundation established to award four $2,500 scholarships annually to Evergreen Credit Union members pursuing post-secondary education at accredited colleges, universities, or vocational schools.

Quantifiable outcome

• Named Best Places to Work in Maine for 10 consecutive years (2016-2025)
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core and supporting.

• Maine MarinerscoreStrategic or Co-development Partner · 17 October 2025Official Credit Union of the Maine Mariners since 2018-2019 season. Collaborative Goals for Food campaign donating $75 per goal scored on home ice to fight hunger in Maine. Partnership includes team sponsorship, community events, and joint fundraising for Campaign for Ending Hunger. Raised $11,025 in 2025-2026 season providing 22,000+ meals.
• Verrill LawcoreGTM or Marketing Partner · 17 October 2025Co-partner with Maine Mariners and Evergreen CU in Goals for Food campaign. Joined in 2025-2026 season to triple-organization initiative raising $11,025 for ending hunger.
• Portland Museum of ArtsupportingStrategic or Co-development Partner · 10 June 2025Art Outside on the Trail initiative collaboration with Portland Trails. Installed 5 painting reproductions from museum collection on Evergreen Woods Trail. Third partner in trail art installation initiative.
• Portland TrailssupportingStrategic or Co-development Partner · 10 June 2025Partnership to bring Art Outside on the Trail installations to Evergreen Woods Trail. Manages 100-mile trail network. Collaboration with Portland Museum of Art and Evergreen CU.
• Scarborough Land TrustsupportingStrategic or Co-development Partner · 14 August 2024Community partner since 2024. SLT conserves over 1,600 acres of land in Scarborough. Evergreen provides annual donations and business resources to support SLT projects.
• PaychexsupportingTechnology or IntegrationPayroll Solutions partnership providing payroll processing services to business members through Evergreen's business services platform.
• Presumpscot Regional Land TrustsupportingStrategic or Co-development Partner2025 Community Impact Award winner. Manages 3,000 acres of conserved land. Educational programming connecting people with local ecosystems. Partnership with GPNEMBA creates trail opportunities.
• WinterKidssupportingStrategic or Co-development PartnerCommunity partner supporting Maine youth outdoor winter experiences. Evergreen participated in Downhill 24, 24-hour ski-a-thon fundraiser. Team raised over $1,000 for WinterKids.
• Animal Refuge League of Greater Portland (ARLGP)supportingStrategic or Co-development PartnerCommunity partner providing shelter animal resources. Evergreen features ARLGP adoption stories and tips on their blog.
• Maine Credit Unions Campaign for Ending HungercoreStrategic or Co-development PartnerCampaign beneficiary receiving all Goals for Food proceeds. Has contributed over $16.3 million since 1990 to fight food insecurity in Maine. $1 can provide 2 healthy meals.
• Co-Op Credit Union Shared BranchingsupportingTechnology or IntegrationNetwork access enabling members to conduct transactions at other credit union branches nationwide. Part of 5th largest ATM network in the country.
• EverFIsupportingTechnology or IntegrationInteractive virtual financial education platform providing modules on budgeting, home buying, business planning, retirement, and credit building.

Scale indicators11 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Bath Savings Institution: Maine-based mutual savings institution serving consumers and businesses with deposits, mortgages, and lending products. Comparable as a community-rooted Maine financial institution with a similar branch-based relationship model and overlapping southern Maine footprint.
• Bangor Savings Bank: Maine-headquartered community bank offering consumer and commercial banking across the state. Directly comparable in market, product mix, and member/customer orientation, with a larger asset base and broader geographic reach within Maine.
• Camden National Bank: Maine-based community bank providing personal, business, and wealth management services. Comparable in serving Maine consumers and small businesses through branch and digital channels with a similar community banking philosophy.
• Norway Savings Bank: Maine-chartered mutual savings bank with branches across western and southern Maine. Comparable as a community-focused mutual institution offering deposit, lending, and digital banking services to Maine residents and businesses.
• Kennebec Savings Bank: Maine community bank serving central and southern Maine with personal and business banking products. Comparable as a Maine-based community institution competing for similar deposit and lending relationships in overlapping markets.
• University Credit Union: Maine-based credit union serving members across multiple counties with personal and business banking. Comparable as a Maine credit union peer with similar member-owned cooperative structure and overlapping field of membership in Maine.
• Maine State Credit Union: Maine-headquartered credit union providing consumer and business banking to members across the state. Comparable as a community credit union operating in the same regulatory framework and competing for similar members in Maine.

Regional players

• TruChoice Federal Credit Union: Federal credit union serving members across Maine with consumer lending, mortgages, and digital banking. Comparable as a Maine credit union peer with similar product set, though operating under a federal charter rather than Evergreen's community charter.
• Atlantic Federal Credit Union: Maine-based federal credit union serving members throughout the state with personal and business banking. Comparable as a Maine credit union peer serving a similar community membership base with overlapping product offerings.

Broad incumbents

• TD Bank (Maine Branches): Large national bank with significant branch presence in Maine including southern Maine. Comparable as a competing consumer and small-business banking provider in the same geographic market, though with a vastly larger scale, broader product menu, and more advanced digital capabilities.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Evergreen_CU
• YouTubeyoutube.com/user/EvergreenCreditUnion
• Facebookfacebook.com/EvergreenCUMaine/?ref=hl
• LinkedInlinkedin.com/company/1409531
• Instagraminstagram.com/evergreen_credit_union
• TikToktiktok.com/@evergreen_cu?is_from_webapp=1&sender_device=pc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Evergreen Credit Union