Gorham Savings Bank Finds Niche on Munjoy Hill

Rendering of Interior Space for new Gorham Savings Bank at 118 Congress Street.

Rendering of Interior Space for new Gorham Savings Bank at 118 Congress Street. (Courtesy of Gorham Savings Bank)

By Carol McCracken  (Post # 2,275)

“We’ve been looking for the right time and space to expand onto Munjoy Hill.  And we found it at 118 Congress Street,” said Eric Andrews, Chief Operating Officer for Gorham Savings Bank this afternoon.  It’s expected the new branch will be open by the end of June and certainly by the Fourth of July. It will occupy a first floor space at the new upscale twelve unit condominium, called 118 on Munjoy Hill.

Not only will this 800 sq ft. space fill a banking void on the Hill, but it will bring with it an opportunity  to introduce.the very newest in banking technology to southern Maine.  When a consumer enters the left side of the building, he will see two machines mounted on a curved wall before him. One is an Interactive Teller Machine – an ITM. That state-of-the-art technology will bring the consumer face-to-face with a live teller via a video link.  That connection with a teller in the Gorham Bank gives the consumer an opportunty to conduct a multitude of tasks according to Andrews in our telephone conversation. That video link to a live teller will be available only during regular banking hours. This new technology is currently in use in large metropolitan areas such as Boston and New York City.  Maine credit unions also use ITMs as well. The Automated Teller Machine – ATM – will also be in use as well. The public will have 24 hour access to it.

Another feature of this new Banking space will be the availability of a conference area available  to the condominium complex and to the community at large. There will be a separation to provide privacy for this space.  Gretchen Boulos, of Boulos Design,  has created a welcoming space where the community can come to take care of their banking needs. The other space on the first floor is to be occupied by Urban Dwellings, currently located on Fore Street. Tracy Davis, business owner, is expanding to include a retail space on site.