Frequently Asked Questions

About Evergreen Credit Union

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What do I need to establish my personal membership with Evergreen Credit Union?

18 or Older:

To establish your membership with Evergreen Credit Union, primary account holder must live, work, worship, or attend school in Androscoggin, Cumberland, Lincoln, Oxford, Sagadahoc, or York counties, or have an immediate relative who meets our field of membership requirements and have a valid government issued photo ID.

If a PO Box is listed on your government issued photo ID or doesn’t reflect an address within the six counties listed, please be sure to provide documentation to support your membership eligibility such as a: car registration, recent pay stub, utility bill or a signed lease agreement.

If you work, worship, or attend school within one of the six counties in our field of membership, please provide one of the following: a recent paystub, a letter from your place of worship, or a current class schedule or a transcript from your school.

If you have an immediate family member who qualifies under our field of membership, additional supporting documentation, such as the examples provided above, will be required.

17 or younger

For a minor to establish a membership with Evergreen Credit Union, they must have an immediate family member who lives, works, worships, or attends school in Androscoggin, Cumberland, Lincoln, Oxford, Sagadahoc, or York counties. Immediate family includes a spouse, child, sibling, parent, grandparent, or grandchild, as well as stepparents, stepchildren, stepsiblings, and adoptive relationships.

The immediate relative meeting the field of membership requirements must provide supporting documentation to establish eligibility, such as a recent paystub, a letter from their place of worship, or transcripts or a current class schedule from their school.

A birth certificate is required for the primary account holder. If available, a valid government-issued photo ID should also be provided.

A secondary account holder is required on all minor accounts. While the secondary account holder does not need to be the individual who established the minor's membership eligibility, they must be an eligible relative as defined by one of the qualifying relationship categories listed above. This eligible relative must provide a valid government-issued photo ID.

Where does Evergreen Credit Union operate?

Evergreen Credit Union has 5 branch locations in:

Is Evergreen Credit Union insured?

Yes, Evergreen Credit Union is federally insured by the National Credit Union Administration.

Can I access my money easily at Evergreen? 

Yes, Evergreen offers many ways for our members to access their money, like:

What products and services does Evergreen offer? 

  • Personal checking, savings, money market, share certificates, young saver accounts, IRAs, credit cards, consumer loans, and consumer mortgages.
  • Business checking, savings, money market, share certificates, credit cards, mortgages and loans. This includes the cannabis industry as well.
  • Online banking and Mobile banking for both personal accounts and business accounts.
  • Free financial coaching, online education courses, and financial calculators
  • Shared Branching
  • SURF ATMS

What types of businesses can join Evergreen Credit Union?

Evergreen can open business accounts for the following business types:

  • Sole Proprietor
  • Campaign
  • Doing Business As (DBA)
  • Corporation
  • Limited Liability Company (LLC)
  • Partnership
  • Organization / Association

What types of business products does Evergreen offer?

Evergreen offers the following business accounts, loans, and services:

 

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About Credit Unions

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How is a credit union different from a bank?

 

Ownership

Focus

Credit Union

Member owned

Returns profits to members through lower fees and better rates

Bank

Owned by shareholders

Focused on profit generation.

What is a Share Savings? 

Credit unions use the term “share savings” because they are member-owned cooperatives. Your deposit into a Primary Share Savings at Evergreen Credit Union represents your ownership share of and membership at the credit union.

What is the difference between dividends and interest?

In terms of share or savings accounts, interest is money paid on earnings on loans or interest-bearing accounts. Dividends are earnings paid to credit union members on eligible share accounts, reflecting the credit union’s financial performance and approved by its Board of Directors.

What is Shared Branching?

Shared Branching allows our members to conduct a number of transactions at other participating credit unions nationwide.

What is the difference between a member number and an account number?

Your Member Number identifies your overall relationship with the credit union, while your Account Number identifies a specific individual account or loan; such as your checking account, savings (share) account or loan.

How do I choose the best credit union in Maine? 

How you choose the “best” credit union is going to depend on how you plan to use it. When looking at your options, consider the following:

  • Membership eligibility
  • Fees
  • Loan rates
  • Savings rates
  • Branch and ATM access
  • Digital banking services
  • Customer service ratings

Are credit unions safer than banks?

Ultimately, credit unions are just as safe as banks. The main difference is the ownership and business model, not the safety.

Why do people switch from banks to credit unions?

People switch from banks to credit unions for many reasons. For someone whose priorities are low fees, competitive loan rates, and personalized service, a credit union can be a strong fit. For someone who values extensive digital services, nationwide physical locations, or specialized financial services, a bank may be the better option. Always remember, you want to choose an institution who has the same values and fits with how you manage your money and what financial goals you have for the future.

What should I look for in a local institution?

When you’re evaluating a financial institution, whether it’s a bank or credit union, you should compare the following factors while keeping in mind how the institution fits with how you actually manage money and what your ultimate financial goals are:

  • Fees – monthly maintenance fees, overdraft and Non-Sufficient Funds (NSF) fees, ATM fees, minimum balance requirements, wire transfer and cashier’s check fees.
  • Interest rates – annual percentage yield (APY) on checking and savings accounts, rates on certificates, auto, personal, and mortgage loan rates.
  • Convenience - branch locations, ATM availability, Shared Branching (if it’s a credit union), and customer support hours and responsiveness.
  • Digital Banking – Mobile app quality, Mobile check deposit, Bill Pay, person-to-person payments, account alerts and budget tools, security features like two-factor authentication.
  • Customer service – read recent reviews, but look for patterns rather than isolated complaints
  • Financial strength and insurance – confirm deposits are federally insured and look for a well-established institution with a solid reputation in your community.
  • Products you’ll actually use – remember, how does the institution fit with how you manage money and what goals you have.
  • Community involvement – many local institutions sponsor schools, nonprofits, and community events. If supporting local organizations matters to you, this can be a meaningful differentiator.

What makes a good credit union? 

What makes a good credit union ultimately comes down to the simplest things. It’s the one that matches how you bank, borrow, and save. While keeping this in the forefront of your mind, you’ll want to look at:

  • Member focus
  • Strong customer service
  • Low fees
  • Competitive rates
  • Convenient access
  • Good digital banking
  • Financial stability
  • Relevant products

Questions to ask yourself when comparing credit unions.

  • Will this be my primary checking account?
  • Am I planning to finance a car or buy a home soon?
  • Do I prefer in-person service or mostly use my phone?
  • How often do I need cash or branch access?

How does community involvement benefit credit union members? 

Community involvement benefits credit union members in general by reflecting one of the cooperative principles of “Concern for Community.” Specifically at Evergreen Credit Union, it holds us accountable to our own vision to empower members to achieve financial freedom and build thriving communities. By investing in the communities, we serve Evergreen and all credit unions can improve our members’ financial well-being while contributing to a healthier, more resilient local community.

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