Your Lifelong Financial Partner
Having grown into its seventh decade of service to its members and communities it serves, NorState started as a credit union to serve workers of Fraser Papers Inc. in 1941. NorState Federal Credit Union is dedicated to bringing financial, insurance and commercial products and services to Aroostook and northern Penobscot counties.
NorState has convenient locations and is a member to a nationwide Co-op Network of Shared Branching and surcharge free ATMs. The Commercial Lending and Business Products and Service department offers business solutions to Aroostook and northern Penobscot entrepreneurs.
“Our group has really put a lot of work into the development of commercial lending,” said Jim Pelletier, vice president of commercial services. “We have full-time staff dedicated to just commercial lending, and we move throughout Aroostook, oftentimes going to the client who can’t make it to one of our six offices.”
He said the group has developed 200-plus commercial accounts dealing with real estate loans, equipment purchases, credit card processing, the buying of vehicle and equipment especially in the construction and woods industries, building purchases, rental property purchases, “mom and pop stores,” and lines of credit. Pelletier said the scope of commercial lending at NorState involves real small enterprises to real large ones.
“We provide businesses with quality services and products that assist our members with the tools they need to meet their customers’ demands,” Pelletier said.
NorState has offices in Madawaska, Fort Kent, Van Buren, Eagle Lake, Ashland and Presque Isle. The Presque Isle office is the newest branch and offers full commercial/business products and services to central Aroostook.
“That office has been well received by local people in central Aroostook,” Pelletier said.
Along with the large commercial lending efforts and their normal individual member services, NorState stresses community assistance, Pelletier explained. They urge staff members at all branches to become involved in their communities.
“We stress volunteering by staff members, and we also monetarily invest in many community projects and new business ventures throughout the area,” he said.
NorState is one of the largest credit unions in Aroostook County and 13th largest in Maine. They are federally insured by the NCUA and are an Equal Housing Lender. FMI about NorState, visit www.norstatefcu.org.
