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About
Down East
Credit Union

Original Baileyville office

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About

Our History

(Updated November 6, 2017)

Downeast 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.

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, and Penobscot counties.

In March of 2006, we changed our name to Downeast Federal Credit Union. In
November of 2006, we converted from a federally-chartered to a state-chartered credit
union, with a name change to Downeast Credit Union. This change allowed us to
continue with our plans for growth and expansion, while keeping our federally insured
status. In 2006, we opened a branch in Bangor, built new offices in Machias and Unity
and opened a branch in Calais.

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.

In 2010 we built a new office in Topsham and moved the Bowdoinham Branch and the
HUB of Downeast Insurance, LLC to the new location. We moved our Richmond office
across the street to a brand new building in December 2011.
During May 2016, a new office in Calais was constructed to replace the credit union’s
leased space of 750 square feet, expanding to a full-service branch.

In 2018, Downeast Credit Union purchased a Baring location which will become a
future home of our administrative offices in 2020. Additionally, the Board and
Leadership developed a plan to position the credit union for growth into the future and
was approved for a name change to Downeast Credit Union. Long-time President/CEO,
David Tozier, retired after 23 years of service to our organization and the Board
appointed Joe Moses as the new President/CEO.
Downeast Credit Union currently serves over 20,000 members from eight locations.
Affiliates

The Credit Union is the sole owner of three CUSOs (Credit Union Service
Organizations). CULANE, LLC has partnerships with 11 credit unions and over 100
vehicle/recreation dealerships, offering members the convenience of financing their
vehicle purchase with Downeast Credit Union without leaving the dealership. Downeast
Insurance, LLC offers insurance for Home, Vehicles, Commercial, Workers Comp, Life
and Disability with offices in Baileyville, Belfast, Calais, Machias, Richmond, Topsham
and Unity. Bay Financial, LLC offers vehicle service contracts and guaranteed auto
protection contracts.

 

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1-800-427-1223

Routing Number: 211288996