About Down East Credit Union
Our History
Original Baileyville office(Updated Dec 30, 2011)
Down East Credit Union began as St. Croix Federal Credit Union, founded in 1941 by the employees of St. Croix Pulp and Paper Company. In 1985, a community charter was granted to include the towns of Princeton, Baileyville, Baring, and Calais. Current President/CEO, David Tozier, assumed leadership of the credit union in 1995, with Mason Pottle acting as Chairman of the Board of Directors.
In 1996, the charter expanded to include all of Washington County, followed in 1999 with an expansion to include Waldo County. In 2004 our Field of Membership was expanded to include all who live, work, worship, attend school, or conduct business in Washington, Waldo, Hancock, or Penobscot counties.
In March of 2006, we changed our name to Down East Federal Credit Union. In November of 2006, we converted from a federally-chartered to a state-chartered credit union. This change allowed us to continue with our plans for growth and expansion, while keeping our federally insured status.
In 2007 a merger between Bowdoinham Federal Credit Union with offices in Bowdoinham and Richmond was presented to membership. With the approval of members of both credit unions, the merger was approved and official on July 30, 2007. Down East Credit Union currently serves over 15,000 members from eight locations.
The Credit Union is the sole owner of two CUSO's (Credit Union Service Organizations). Consolidated Solutions, LLC, has partnerships with14 credit unions and 84 vehicle/recreation dealerships, offering members the convenience of financing their vehicle purchase with Down East Credit Union without leaving the dealership. Down East Insurance Agency offers insurance for Home, Vehicles, Commercial, Workers Comp, Life and Disability with offices in Baileyville, Richmond and Topsham.
The Credit Union also has a relationships with Infinex, offering investment counseling to our members.
DECU Board of Directors
- Mason Pottle - Chairman
- Bob Curtis - Vice Chairman
- Joe Manza - Secretary
- Jeff Gagner - Board member
- Jim Enman - Board member
Executive Management
- David Tozier - President/CEO
- Joseph Moses - Executive Vice President/CFO
Managers
- VP Accounting – Jill Hamilton
- VP Branch Manager – Lori Peakall-Cote
- VP Collections - Melissa Alexander
- VP Compliance – Bert Beaulieu
- VP Deposits/Training - Kaj Johansen
- VP Human Resources – Donna Cochran
- VP Dealership Lending – Linda Croman
- VP Lending – Tonia Lanier
- VP Marketing/PR – Linda Howe
- VP Systems – Bette Tomah
