2024-09-09T09:23:00-05:00 2023-12-31 010448006 ALBIN RANDALL & BENNETT PO BOX 445 130 MIDDLE STREET PORTLAND ME 041120445 990 2023-01-01 010213357 DOWNEAST CREDIT UNION DOWN 8004271223 PO BOX 130 BAILEYVILLE ME 04694 JOSEPH MOSES PRESIDENT/CEO 8004271223 2024-08-29 1 0 ROBIN L CYR P01261639 2077721981 2024-08-29 2023 2024-08-08 14:25:15Z JOSEPH MOSES PO BOX 130 BAILEYVILLE ME 04694 16106826 0 X WWW.DOWNEASTCU.COM X 2006 ME TO PROVIDE FINANCIAL SERVICES, INCLUDING DEPOSIT ACCOUNTS AND LOANS, TO CREDIT UNION MEMBERS. 5 5 103 7 1550211 783 0 0 11867038 13914136 218383 725409 2066107 1467281 14151528 16106826 0 0 0 0 6035194 6354417 0 0 0 4742745 8703971 10777939 15058388 3373589 1048438 269624837 271299377 242272575 245220527 27352262 26078850 TO PROVIDE FINANCIAL SERVICES, INCLUDING DEPOSIT ACCOUNTS AND LOANS, TO CREDIT UNION MEMBERS. 0 0 THE PROCUREMENT OF FINANCIAL SERVICES INCLUDING, BUT NOT LIMITED TO, THE EXTENSION OF LOANS AND THE HOUSING OF DEPOSITS FOR MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 2896 0 1 103 1 1 1 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X JOSEPH MOSES 8004271223 PO BOX 130 BAILEYVILLE ME 04694 ENMAN JAMES DIRECTOR 1.00 X 0 0 0 WHALEN MIKE DIRECTOR 1.00 X 0 0 0 CURTIS ROBERT VICE CHAIRMAN 1.00 X X 0 0 0 MANZA JOSEPH SECRETARY & TREASURER 1.00 X X 0 0 0 POTTLE MASON CHAIRMAN 1.00 X X 0 0 0 MOSES JOSEPH PRESIDENT & CEO 40.00 X 355602 0 52524 FLEMING MATTHEW CHIEF FINANCIAL OFFICER 40.00 X 177923 0 39217 LANIER TONIA SVP OF LENDING & BRANCH OP 40.00 X 174194 0 30327 TOMAH BETTE SVP OF INTERNAL OPERATIONS 40.00 X 154501 0 29333 SHERRARD CHRISTOPHER IT DIRECTOR 40.00 X 139243 0 18909 CUSHING JOANNE DIRECTOR OF LENDING 40.00 X 116102 0 17621 JOHANSEN STACY PRESIDENT, DEI 40.00 X 116630 0 10868 1234195 0 198799 7 0 1 0 CENTURY 6565 AMERICAS PKWY NE SUITE 1000 ALBUQUERQUE NM 87110 VEHICLE SERVICES 624148 FISERV INC PO BOX 934057 ATLANTA GA 31193 OPERATING SYSTEM 583500 THE PLATEAU GROUP PO BOX 7001 CROSSVILLE TN 385577001 DEBT CANCELLATION 287715 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 MOBILE AND WEB SERVICES 269903 DIEBOLD NIXDORF INC PO BOX 643543 PITTSBURGH PA 15264 SECURITY SERVICES 265840 5 INTEREST ON LOANS TO MEMBERS 522100 11305236 11305236 VISA INTERCHANGE - RELATED 522100 1449077 1449077 SERVICE FEE INCOME - RELATED 522100 1159823 910742 249081 13914136 725409 725409 SUBSIDIARY FEE INCOME 525990 1259457 31493 1227964 NON-INT INCOME-MEMBERS 524298 207824 134658 73166 1467281 16106826 13831206 1550211 725409 627743 4525054 237510 569121 394989 10506 129838 580653 250404 1497211 82318 615585 58001 8760 11137 653797 102464 DIVIDENDS ON MEMBERS' S 3598854 BANK SERVICES AND CHARG 857195 PROVISIONS FOR LOAN LOS 202745 DUES & SUBSCRIPTIONS PR 32503 12000 15058388 9821296 7999451 4170 15875 43623 82591 0 220769494 222717030 7573319 7468691 13124243 5028309 8219351 8095934 17493613 19179953 5699971 5739852 269624837 271299377 3304556 3137712 238968019 242082815 242272575 245220527 X 0 0 0 0 27352262 26078850 27352262 26078850 269624837 271299377 X 1048438 -2321850 X 0 0 0 2003916 2003916 6912557 2329657 4582900 3933692 2554630 1379062 274078 144022 130056 8095934 FHLB INVESTMENT 148500 C TRICORP INVESTMENT 254143 C CONSOLIDATED SOLUTIONS INVESTMENT 210744 C CULANE INVESTMENT 1005206 C BAY FINANCIAL INVESTMENT 402467 C DOWNEAST INSURANCE INVESTMENT 4888893 C CERTIFICATES AT BANKS AND CREDIT UNIONS 12000000 C CO-OP INVESTMENT 20000 C EXCESS SHARE INSURANCE DEPOSIT 250000 C 19179953 MEMBERS' SHARE ACCOUNTS 242082815 242082815 X X 0 0 0 MOSES JOSEPH PRESIDENT & CEO 302962 0 52640 0 0 0 16060 0 36464 0 408126 0 0 0 FLEMING MATTHEW CHIEF FINANCIAL OFFICER 159048 0 18875 0 0 0 8313 0 30904 0 217140 0 0 0 LANIER TONIA SVP OF LENDING & BRANCH OP 155319 0 18875 0 0 0 8288 0 22039 0 204521 0 0 0 TOMAH BETTE SVP OF INTERNAL OPERATIONS 142776 0 11725 0 0 0 7294 0 22039 0 183834 0 0 0 SHERRARD CHRISTOPHER IT DIRECTOR 138243 0 1000 0 0 0 6854 0 12055 0 158152 0 0 0 JOSEPH MOSES PRESIDENT/CEO SPLIT DOLLAR LIFE INS POLICY X 780000 954526 0 1 1 JILL HAMILTON FORMER OFFICER SPLIT DOLLAR LIFE INS POLICY X 179001 233002 0 1 1 1187528 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. FORM 990, PART XI, LINE 9: ADJUSTMENT TO UNDIVIDED EARNINGS FROM CECL ADOPTION -2,321,850. 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT OR SELECTION PROCESSES DURING THE TAX YEAR. DOWNEAST INSURANCE LLC PO BOX 130 23RD AVENUE BAILEYVILLE ME 04694 010537469 INSURANCE BROKERAGE SERVICES TO CREDIT UNION MEMBERS ME 942520 4955510 DOWNEAST CREDIT UNION CONSOLIDATED SOLUTIONS LLC PO BOX 130 23RD AVENUE BAILEYVILLE ME 04694 010542492 INDIRECT LENDING FOR PARTICIPATING CREDIT UNIONS ME 2500 210745 DOWNEAST CREDIT UNION BAY FINANCIAL LLC PO BOX 130 23RD AVENUE BAILEYVILLE ME 04694 200361756 FINANCIAL SERVICES FOR SMALL BUSINESSES (DORMANT IN 2020) ME 0 402467 DOWNEAST CREDIT UNION CULANE LLC PO BOX 130 BAILEYVILLE ME 04694 823810485 CREDIT UNION SERVICE ORGANIZATION ME DOWNEAST CREDIT UNION RELATED 112806 1085524 0 722 1 0.70000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 CULANE LLC Q 37800 CASH