Down East Credit Union

Overview / Commentary
23 Third Ave
Baileyville, ME 04694

Down East Credit Union is headquartered in Baileyville and is the 15th largest credit union in the state of Maine. It is also the 1,100th largest credit union in the nation. It was established in 1941 and as of June of 2022, it had grown to 87 employees and 22,275 members at 8 locations. Down East Credit Union has an A+ health rating.

Field of Membership Restrictions

Down East Credit Union of Maine is open to the residents, registered students, church members, and people maintaining employment in these Maine Counties: Hancock, Kennebec, Knox, Lincoln, Penobscot, Sagadahoc, Waldo and Washington along with the Cumberland County towns of Brunswick and Harpswell. Membership eligibility is also extended to include the family members of current credit union members.
See current membership details

Reviews (1)

Fairly Disapointed

Posted by: |

First let me say, this is in regards to the Branch in Richmond, Maine. We haven't had any experiences at any other branches. Both my husband and I have checking accounts and I have a college savings type account for my child too. There new building was just resurrecting. Extremely inconvenient that the bank and it's employees didn't conduct the actual move on the weekend instead of during the week. They closed down for business, which was extremely inconvenient. Their hours are limited. Staying open only until 4. It seems they don't go out of their way to make banking any more convenient. They moved their ATM machine, to the inside. Accessible only to card holders after hours. I have a debit card with them, and it still doesn't open the door. The tellers inside are ALWAYS grumpy. NEVER a smile or a kind word. When I try to use their "convenient" shared branching service, I just get a lot of guff. It's like they are put out by doing it. Lastly, we called about getting a loan to buy some land, we never got a call back as promised, and had to call back ourselves a week later. Really disappointed with this local bank. They are physical convenient, but all the hassle and bad attitudes make us not want to bank there. As far as the ATM, I have heard from lots of townspeople that this is really inconvenient. They will end up losing business to the other local banks in town for this.


Health Grade Components

NCUA #68563
Year Chartered1941
Primary Regulator
Profit Margin
Return on Assets - YTD2.15%
Return on Equity - YTD20.24%
Annual Interest Income$4.6MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$255.8MM$236.4MM
LoansQ2 2022vs Q2 2021$202.9MM$177.2MM
DepositsQ2 2022vs Q2 2021$226.7MM$212.3MM
Equity CapitalQ2 2022vs Q2 2021$27.0MM$22.3MM
Loan Loss AllowanceQ2 2022vs Q2 2021$1.5MM$2.6MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$750.00K$728.00K
Real Estate OwnedQ2 2022vs Q2 2021$0$28.00K

Rates for Down East Credit Union are currently being reviewed.


Down East Credit Union Locations
Branch Office92 Lincolnville AveBelfast, ME 04915
Branch Office151 Main StRichmond, ME 04357
Branch Office23 Third AveBaileyville, ME 04694
Branch Office254 North StCalais, ME 04619-1620
Branch Office24 Springer Dr Ste 111Bangor, ME 04401
Branch Office58 School StUnity, ME 04988
Branch Office94 Main StTopsham, ME 04086
Branch Office211 Main StMachias, ME 04654

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