ROCKLAND — Maine State Credit Union plans to open a full-service branch on Camden Street in Rockland.

A sign was erected this week at the property at 168 Camden St.

The building had been the location for Tim Hortons, which operated there until closing in December 2013.

The 3,200-square-foot building was built in 2006. Maine State Credit Union bought the nearly one-acre property in June 2022 from GL Investment LLC of Newport for $700,000.

The Maine State Credit Union will need a change-of-use approval from the Rockland Planning Board. No meeting for that has yet been scheduled. The company plans to open in spring 2023.

Maine State Credit Union is one of the largest credit unions in Maine, with more than $582 million in assets, according to the company’s website. Located in Augusta, the company employs more than 100 Mainers and has been on the Best Places to Work in Maine list for the past nine years. It was founded in 1935 under the stairs in the Maine State House as a place for the state employees to bank; now, it has more than 33,000 members and serves the residents of Androscoggin, Cumberland, Kennebec, Knox, Lincoln, Somerset, and Waldo counties.

In June 2022, the Maine Bureau of Financial Institutions approved the request for MSCU to expand into four new counties — Knox, Waldo, Lincoln, and Sagadahoc counties. Residents in those counties who live, work, worship, volunteer, or attend school in these counties can now be members of Maine State Credit Union.  

President and Chief Executive Officer, Stephen Wallace, stated in a news release, “Growth and new market share are essential to our members. Our goal is to always provide excellent service, innovative technology, and competitive rates. By expanding, we’re keeping that promise.” 

“Our expansion means membership is now available to 54 percent of the Maine population. By early 2023 we are opening two new branches and creating approximately 20 new jobs, ” he stated.