Down East Credit Union is headquartered in Baileyville and is the 15th largest credit union in the state of Maine. It is also the 1,076th largest credit union in the nation. It was established in 1941 and as of December of 2022, it had grown to 93 employees and 22,222 members at 8 locations. Down East Credit Union's money market rates are 6X the national average, and it 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
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Fairly Disapointed
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.
Data as of Q4 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68563 |
| Year Chartered | 1941 |
| Employees | 93 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.27% |
| Return on Equity - YTD | 12.16% |
| Annual Interest Income | $9.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $264.0MM$252.1MM |
| Loans | Q4 2022vs Q4 2021 | $222.6MM$178.0MM |
| Deposits | Q4 2022vs Q4 2021 | $232.8MM$226.1MM |
| Equity Capital | Q4 2022vs Q4 2021 | $27.7MM$24.2MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $1.5MM$2.5MM |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $1.2MM$1.2MM |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$0 |