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.
Name: | DOWNEAST CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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