Civic Intelligence

Downeast Credit Union

EIN 01-0213357 • 501(c)14 • Baileyville, ME

Profile

To provide financial services, including deposit accounts and loans, to credit union members.

PO Box 130Baileyville, ME 04694

www.downeastcu.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

61st percentile

0.91x

Higher debt load relative to assets than 61% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

32nd percentile

13.82x

Higher debt load relative to revenue than 32% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Source year 2024

Net Margin

18th percentile

3.1%

Higher net margin than 18% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

65th percentile

4.7%

Faster asset growth than 65% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Annualized from 2022 to 2024

Revenue Growth

59th percentile

17%

Faster revenue growth than 59% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Annualized from 2022 to 2024

Assets

Up

$295,430,017

Up $24,130,640 (+8.9%) from 2023

Liabilities

Up

$268,741,067

Up $23,520,540 (+9.6%) from 2023

Net Assets

Up

$26,688,950

Up $610,100 (+2.3%) from 2023

Revenue

Up

$19,451,826

Up $3,345,000 (+21%) from 2023

Expenses

Up

$18,841,726

Up $3,783,338 (+25%) from 2023

Net Income

Down

$610,100

Down $438,338 (-42%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2010: $84,410,503Liabilities 2010: $76,446,891Net Assets 2010: $7,963,6122010Assets 2011: $88,519,460Liabilities 2011: $80,040,060Net Assets 2011: $8,479,4002011Assets 2012: $98,143,345Liabilities 2012: $89,005,174Net Assets 2012: $9,138,1712012Assets 2013: $110,022,619Liabilities 2013: $100,010,408Net Assets 2013: $10,012,2112013Assets 2014: $129,260,575Liabilities 2014: $119,044,104Net Assets 2014: $10,216,4712014Assets 2015: $153,275,459Liabilities 2015: $141,796,151Net Assets 2015: $11,479,3082015Assets 2016: $165,292,140Liabilities 2016: $152,624,070Net Assets 2016: $12,668,0702016Assets 2017: $177,992,446Liabilities 2017: $163,678,817Net Assets 2017: $14,313,6292017Assets 2019: $204,294,220Liabilities 2019: $187,240,356Net Assets 2019: $17,053,8642019Assets 2020: $225,778,198Liabilities 2020: $205,774,117Net Assets 2020: $20,004,0812020Assets 2021: $256,516,237Liabilities 2021: $232,537,564Net Assets 2021: $23,978,6732021Assets 2022: $269,624,837Liabilities 2022: $242,272,575Net Assets 2022: $27,352,2622022Assets 2023: $271,299,377Liabilities 2023: $245,220,527Net Assets 2023: $26,078,8502023Assets 2024: $295,430,017Liabilities 2024: $268,741,067Net Assets 2024: $26,688,9502024

Highlighted filing

2024

Assets$295,430,017
Liabilities$268,741,067
Net Assets$26,688,950

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$15M$10M$5.0M$0Expenses 2010: $6,175,2432010Expenses 2011: $6,256,7092011Expenses 2012: $6,258,6892012Revenue 2013: $7,608,164Expenses 2013: $6,734,124Net Income 2013: $874,0402013Revenue 2014: $8,106,009Expenses 2014: $7,901,749Net Income 2014: $204,2602014Revenue 2015: $9,250,031Expenses 2015: $7,987,194Net Income 2015: $1,262,8372015Revenue 2016: $10,506,262Expenses 2016: $9,069,893Net Income 2016: $1,436,3692016Revenue 2017: $12,668,251Expenses 2017: $11,022,692Net Income 2017: $1,645,5592017Revenue 2019: $15,438,472Expenses 2019: $14,349,619Net Income 2019: $1,088,8532019Revenue 2020: $15,598,749Expenses 2020: $12,648,532Net Income 2020: $2,950,2172020Revenue 2021: $14,995,471Expenses 2021: $11,020,879Net Income 2021: $3,974,5922021Revenue 2022: $14,151,528Expenses 2022: $10,777,939Net Income 2022: $3,373,5892022Revenue 2023: $16,106,826Expenses 2023: $15,058,388Net Income 2023: $1,048,4382023Revenue 2024: $19,451,826Expenses 2024: $18,841,726Net Income 2024: $610,1002024

Highlighted filing

2024

Revenue$19,451,826
Expenses$18,841,726
Net Income$610,100

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$295$269$26.7$19.5$18.8$0.61
2023Detailed filing. Detailed filing data is available for this year.$271$245$26.1$16.1$15.1$1.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$270$242$27.4$14.2$10.8$3.37
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$257$233$24.0$15.0$11.0$3.97
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$226$206$20.0$15.6$12.6$2.95
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$204$187$17.1$15.4$14.3$1.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$178$164$14.3$12.7$11.0$1.65
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$165$153$12.7$10.5$9.07$1.44
2015Detailed filing. Detailed filing data is available for this year.$153$142$11.5$9.25$7.99$1.26
2014Detailed filing. Detailed filing data is available for this year.$129$119$10.2$8.11$7.90$0.20
2013Detailed filing. Detailed filing data is available for this year.$110$100$10.0$7.61$6.73$0.87
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$98.1$89.0$9.14$6.26
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.5$80.0$8.48$6.26
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$84.4$76.4$7.96$6.18
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 21, 2025
Return Version
2024v5.1
Gross Receipts
$19,451,826
Mission and Program Overview

Mission

To provide financial services, including deposit accounts and loans, to credit union members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$222,717,030$244,715,124▲ $21,998,094
Rtn Earn Endowment Incm Other Fnds$26,078,850$26,688,950▲ $610,100
Investments Other Securities$19,179,953$19,918,497▲ $738,544
Cash and Non-Interest-Bearing Accounts$7,999,451$9,433,997▲ $1,434,546
Land, Buildings, and Equipment, Net$8,095,934$7,852,445▼ $243,489
Prepaid Expenses and Deferred Charges$7,468,691$6,313,531▼ $1,155,160
Receivables From Officers Etc-$1,214,412-
Accounts Receivable$82,591$86,006▲ $3,415
Savings and Temporary Cash Investments$15,875$29,201▲ $13,326
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$271,299,377$295,430,017▲ $24,130,640
Other Assets Total$5,739,852$5,866,804▲ $126,952
Liabilities
Other Liabilities$242,082,815$266,360,282▲ $24,277,467
Accounts Payable and Accrued Expenses$3,137,712$2,380,785▼ $756,927
Total Liabilities$245,220,527$268,741,067▲ $23,520,540
Net Assets / Fund Balance
Total Net Assets Fund Balance$26,078,850$26,688,950▲ $610,100
Total Liabilities and Net Assets / Fund Balance$271,299,377$295,430,017▲ $24,130,640

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,377,013$2,545,576$6,922,589
Equipment$1,378,073$2,654,154$4,032,227
Land$2,003,916-$2,003,916
Other Land Buildings$93,443$180,635$274,078
Other Securities$250,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Moses JosephPresident & CEOFT$290,163$53,917$344,080
Fleming MatthewChief Financial OfficerFT$175,481$47,930$223,411
Lanier ToniaSVP of Lending & Branch OpFT$160,231$37,766$197,997
Tomah BetteSVP of Internal OperationsFT$147,453$34,849$182,302
Theriault JasonLending OfficerFT$63,203$110,905$174,108
Sherrard ChristopherIt DirectorFT$146,830$20,985$167,815
Cushing JoanneDirector of LendingFT$105,534$56,467$162,001

Board Members and Trustees

NameTitle
Pottle MasonChairman
Curtis RobertVice Chairman
Enman JamesDirector
Whalen MikeDirector
Manza JosephSecretary & Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Fiserv INCCore Operating SystemPO BOX 934057, Atlanta, GA 31193$491,660
Diebold Nixdorf INCAtm ServicingPO BOX 643543, Pittsburgh, PA 15264$271,996
MeridianlinkOnline Banking/loan ProcessingPO BOX 846822, Los Angeles, CA 90084$203,703
Ncr CorporationOnline BankingPO BOX 740641, Los Angeles, CA 90074$196,026
Cdw DirectComputer HardwarePO BOX 75723, Chicago, IL 60675$158,790
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$16,846,153
Investment Income
$1,181,668
Other Revenue
$1,424,005
Change in Net Assets
$610,100
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,915,092
Salaries, Compensation, and Employee Benefits$6,926,634
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$5,057,058
Office Expenses---$1,646,741
Fees for Services Other---$691,880
Occupancy---$668,430
Depreciation Depletion---$643,132
Other Employee Benefits---$629,711
Current Officers, Directors, Trustees, and Key Employees---$572,000
Payroll Taxes---$422,083
Advertising---$404,168
Pension Plan Contributions---$245,782
Fees for Services Accounting---$149,793
Insurance---$114,351
Information Technology---$109,900
Travel---$63,065
Interest---$35,862
Other Expenses---$34,369
All Other Expenses---$12,000
Fees for Services Legal---$10,185
Conferences and Meetings---$9,616
Total Functional Expenses$0$0$0$18,841,726
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees-$1,214,412-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
MEMBERS' SHARE ACCOUNTS$266,360,282
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The organization's members have the right to participate in the organization's governance.

Form 990, Part VI, Section A, Line 7A

Members of the credit union have the authority to elect the organization's governing body.

Form 990, Part VI, Section A, Line 7B

Mergers are subject to approval by members.

Form 990, Part VI, Section B, Line 11B

Management and the board of directors both review a copy of the 990 before it is filed.

Form 990, Part VI, Section B, Line 12C

The organization has a compliance department that monitors and enforces compliance with the conflict of interest policy.

Form 990, Part VI, Section B, Line 15

Compensation for top management officials, other officers, and key employees is determined by both a cuna salary survey and the board of directors. This salary survey is reviewed by the ceo, cfo and vp of hr.

Form 990, Part VI, Section C, Line 19

Financial statements are posted in all branch lobbies for the organization. All other information available upon request.

Filing and Contact Details

Filer

Filer Name
Downeast Credit Union
EIN
01-0213357
Phone
8004271223
Address
PO BOX 130, BAILEYVILLE, ME 04694

Signing Officer

Name
Joseph Moses
Title
President/CEO
Phone
8004271223
Signed
2025-05-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Moses
Formed
2006
Legal Domicile
Me
Voting Board Members
5
Independent Board Members
5
Employees
101
Volunteers
8

Preparer

Firm
Albin Randall & Bennett
Address
PO BOX 445 130 MIDDLE STREET, PORTLAND, ME 04112-0445
Preparer
Robin L Cyr
Phone
2077721981
Supplemental Narrative

Additional Explanations

990, Part XII, Line 2C

The organization has not changed its oversight or selection processes during the tax year.

Raw XML AppendixShowing 400 of 671 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt03137712
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt02380785
IRS990/AccountsReceivableGrp/BOYAmt082591
IRS990/AccountsReceivableGrp/EOYAmt086006
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO PROVIDE FINANCIAL SERVICES, INCLUDING DEPOSIT ACCOUNTS AND LOANS, TO CREDIT UNION MEMBERS.
IRS990/AdvertisingGrp/TotalAmt0404168
IRS990/AllOtherExpensesGrp/TotalAmt012000
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/PersonNm0JOSEPH MOSES
IRS990/BooksInCareOfDetail/PhoneNum08004271223
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0PO BOX 130
IRS990/BooksInCareOfDetail/USAddress/CityNm0BAILEYVILLE
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0ME
IRS990/BooksInCareOfDetail/USAddress/ZIPCd004694
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
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IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt07999451
IRS990/CashNonInterestBearingGrp/EOYAmt09433997
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt08
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0572000
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConferencesMeetingsGrp/TotalAmt09616
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt0491660
IRS990/ContractorCompensationGrp/CompensationAmt1271996
IRS990/ContractorCompensationGrp/CompensationAmt2203703
IRS990/ContractorCompensationGrp/CompensationAmt3196026
IRS990/ContractorCompensationGrp/CompensationAmt4158790
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt0PO BOX 934057
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0GA
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IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
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IRS990/CYGrantsAndSimilarPaidAmt00
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IRS990/ForeignActivitiesInd00
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IRS990/ForeignOfficeInd00
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