About Down East Credit Union

Our History

Original Baileyville office.

(Updated February 08, 2008)

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 three CUSO's (Credit Union Service Organizations). Consolidated Solutions, LLC, has partnerships with 16 credit unions and 200 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, Bowdoinham and Machias. Bay Financial is the Business Development/Public Relations CUSO offering personalized financial solutions for small businesses. In addition, the credit union also has relationships with Northern Capital, offering investment counseling to our members and Northern Benefits, which offers benefits to employers and employees through such programs as Chamber Blue and Assurant Health, short term medical.

DECU Board of Directors

Mason Pottle - Chairman of the Board
Joe Manza - Board member
Jeff Gagner - Board member
Kathrine Mercier - Board member
Bob Curtis - Board member
Heather Blease - Board member
Jim Enman - Board member

Supervisory Committee

Mike Whalen - Chairman
C. Gerry Cox - Member
Shawn Robert - Member
Rick Tetrev - Member

Executive Management

David Tozier - President/CEO
Joseph Moses - Executive Vice President

Senior Management

Linda Croman - Sr. Vice President/Project Management
Jill Hamilton - Sr. Vice President of Accounting
Tonia Hold - Sr. Vice President of Lending
Linda Howe - Sr. Vice President of Marketing

Down East Credit Union is a Maine Credit Union
Serving Washington, Waldo, Hancock, Penobscot, Lincoln, Kennebec, Sagadahoc, and Knox Counties,
and the towns of Brunswick and Harpswell in Cumberland County.

Branch offices are located in Baileyville, Machias, Belfast, Unity, Bangor, Calais, Richmond, and Bowdoinham.

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