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DOWNEAST CREDIT UNION

Dec, 31, 2023 — DOWNEAST CREDIT UNION is a federally insured state chartered credit union headquartered in BAILEYVILLE, ME with 8 branch locations and about $264.98 million in total assets. Opened 83 years ago in 1941, DOWNEAST CREDIT UNION has about 22,188 members and employs 88 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 211288996
Name:DOWNEAST CREDIT UNION
Address:
(Main Office)
23 Third Ave
BAILEYVILLE, ME 04694
Phone:(207) 427-3333
Fax:(207) 512-1537
Website:https://www.downeastcu.com
Branches:8 branch locations
Members:22,188
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68563
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1941
Last Audited:Mar 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$264,977,637
CEO/Manager:Joseph Moses
Chairperson:Mason Pottle

Call Report

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  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,035,896
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 41,215,448
 Unsecured Loans 15,051,298
 Other Loans 170,326,501
 TOTAL LOANS 226,593,247
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,575,941
 Land And Building 6,586,817
 Other Fixed Assets 1,524,530
 NCUSIF Deposit 2,024,999
 All Other Assets 98,176
  TOTAL ASSETS 264,977,637
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,317,759
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 35,003,658
 Regular shares 62,781,465
 All Other Shares & Deposits 137,365,099
  TOTAL SHARES & DEPOSITS 235,150,222
  TOTAL LIABILITIES 238,467,981
 Regular Reserve 0
 Other Reserves 430,803
 Undivided Earnings 26,078,853
  TOTAL EQUITY 26,509,656
  TOTAL LIABILITIES, SHARES, & EQUITY 264,977,637
INCOME & EXPENSE  
 Loan Income 11,305,236
 Investment Income 725,408
 Other Income 857,572
 Total Employee Compensation & Benefits 7,327,933
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,616,697
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 202,745
 Cost of Funds 3,632,989
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,048,441
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