Savings Accounts – Downeast Credit Union

DECU Savings Accounts

Become a Member

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How to Open a Savings Account

To apply to become a member of Downeast Credit Union, follow these simple steps:

Do you qualify?

Membership at DECU is open to those who live, work, worship or attend school in the following Maine counties: Hancock, Kennebec, Knox, Lincoln, Penobscot, Sagadahoc, Waldo and Washington, as well as the towns of Brunswick and Harpswell in Cumberland County. Membership is also available to immediate family members of existing members, those living in the same household and organizations of such persons who all live within the field of membership.

Apply here!

Follow our online form to apply for membership.

Account Activation

An Account Expert from DECU will call you to finalize your membership. If you would like assistance with the account opening process, call an Account Expert at 207-454-9008.
Account Switch Checklist

Use this quick reference guide to help move your finances over to Downeast Credit Union. If you'd like help moving your accounts over to Downeast CU, our Account Experts are here to help! Just call us at 207-454-9008 and we'll help you make the switch with your direct deposits and payments.

Account Closure Authorization

Use this form to notify your old financial institution that you're moving accounts and request a final check.

Direct Deposit Authorization

This form will help you set up direct deposit to your new account here at DECU!

Automatic Withdrawal Authorization

Complete this form to notify other vendors, like utility companies, that you have moved your bank account and want to update your automatic payments and withdrawals..

Share Savings Account

This is the first account you will open at Downeast Credit Union. The minimum opening deposit is $5 and the balance can not go below that. The five dollars represents your share in the credit union, every member must have a Share Savings Account.

Youth Savings Accounts

Youth Savings Accounts can be opened with $5.00. Visit the Youth & Young Adult Account page for details.

Club Accounts

Christmas, vacation, taxes, or whatever you need a special savings account for, Clubs are a great way to serve your short-term savings needs.

IRA Accounts

Individual Retirement Accounts (IRAs) are accounts designed to help you save for retirement. With a Roth IRA, earnings grow tax free and are also tax free when you make qualified withdrawals. With a traditional IRA, your earnings grow tax deferred, so you won’t owe income taxes until you make withdrawals. And if you’re eligible, your contributions are tax deductible.

You must have earned income for the tax year you are making a contribution for. You can open, or make deposits to, an IRA any time through April 15th for the previous tax year. Current year deposits may be made throughout the year. There are several IRA options at Downeast including Regular IRA accounts, Roth, Educational and IRA Certificates.

Money Market Draft Account

This draft account gives you total flexibility and liquidity as well as competitive rates. All that is required is that you maintain a $2,500.00 balance. You may write up to six checks per month and there is no limit on over the counter withdrawals.

Share Certificate Accounts

Share and IRA Certificates help you start planning for your future with only $500. The power of guaranteed, compounded interest growth then goes to work. The certificate rate is fixed at the time of deposit ranging in terms. Interest is compounded daily. Accumulated dividends are available monthly in one of two ways:

  • Compounded
  • Transferred to one of your DECU accounts

Use Our
Share Certificate Calculator
to plan for your future

Calculate Now

Sow n' Grow Share Certificate

This is a great way to get started saving for the future. See our Rate and Fee schedule for current information including penalties for early withdrawals.

Youth Sow n' Grow Certificate

For members under 18 years of age

A one-year product with a minimum opening of $2, and with at least a $2 per week deposit.

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Routing Number: 211288996