Down East Credit Union Acquires Building in Baring

Down East Credit Union has purchased the Baring property at 173 US Highway 1 with plans to renovate the space as administrative offices in the year 2020. DECU locations in Baileyville and Calais will remain open for financial transactions. (Submitted photo)

 The Board of Directors at Down East Credit Union (DECU) is pleased to announce the purchase of the building formerly housing Knock on Wood located at 173 US Highway 1 in Baring Plantation. The building will be used for administrative offices.

 Management plans to renovate the property in 2020 to house approximately 27 office spaces. DECU locations in Baileyville and Calais will remain open for member transactions and ATM access.

 “In the last five years, Down East Credit Union has grown from $97 million to $184 million in asset size,” states DECU President, Joe Moses. “We are a strong financial institution with plans to continue this growth into the future. The Baring property is the optimal size and location to meet the credit union’s future needs.”

 Down East Credit Union employs a skilled team of 90 employees and has plans to hire up to 15 more team members in the region over the next five years. The purchase is part of the Credit Union's comprehensive strategic plan that will guide the financial institution toward continued future growth.

 DECU Board Chairman, Mason Pottle, adds, “We look forward to expanding our operations and investing in our neighbor community, Baring Plantation."

Down East Credit Union continues to be a preferred workplace for its team members. In 2017, DECU was one out of 81 Maine companies who were selected as a Best Places to Work in Maine company.

 

“DECU is committed to serving our members and team by offering exceptional rates on lending and deposit services, energizing our workforce, and enriching the communities we serve,” adds Moses.