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1 star rating based on 1 review.

Dade County Federal Credit Union

Dade County Federal Credit Union Locations
1500 NW 107th Ave
Miami, FL 33172
305-471-5080
www.dcfcu.org

Dade County Federal Credit Union is headquartered in Doral and is the 20th largest credit union in the state of Florida. It is also the 380th largest credit union in the nation. It was established in 1991 and as of September of 2011, it had grown to 226 employees and 97,069 members. Dade County Federal Credit Union has a 5-star health rating.

Dade County Federal Credit Union Routing Number: 266080107

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It's not a great rate at Dade County FCU, but it's competitive for the Miami area: 2.55% APY 5-year CD as of 10/25/2010 (min $500) Its shorter-term CD rates are much less competitive. The credit union also has a reward checking account that I first

High-Yield Reward Checking Account at a Florida CU (Dade County) - 2/28/2008

Update 6/07/09: The top yield has fallen to 4.10%. Refer to the bottom of the post for the rate history.Dade County Federal Credit Union has a reward checking account called MoneyMaker Checking which pays 4.10% APY on balances up to $25,000 and refunds...



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See Rates for: Checking | Savings | Money Market | CD | IRA

Dade County Federal Credit Union Checking Account Rates

ApyMinMaxProduct
0.50%$3k-Simple Business Checking
0.15%$5k-Share Draft Checking

Dade County Federal Credit Union Savings Account Rates

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0.45%--IRA Rollover
0.35%$5k-Business Share Savings
0.35%$5k-Share Savings
0.35%$5k-IRA Shares Savings
0.35%$5k-Club Accounts
0.35%$5k-Roth IRA Shares Savings

Dade County Federal Credit Union Money Market Rates

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0.45%$50k-Business Money Management
0.40%$50k-Money Management

Dade County Federal Credit Union CD Rates

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1.90%$500-60 Month Share Certificate
0.90%$500-30 Month Share Certificate
0.55%$500-18 Month Share Certificate
0.50%$500-12 Month Share Certificate
0.40%$500-6 Month Share Certificate
0.35%$500-3 Month Share Certificate

Dade County Federal Credit Union IRA Rates

ApyMinMaxProduct
0.50%$500-12 Month IRA Share Certificate
0.50%$500-24 Month IRA Share Certificate
0.50%$500-36 Month IRA Share Certificate
0.50%$500-12 Month Roth IRA Share Certificate
0.50%$500-24 Month Roth IRA Share Certificate
0.50%$500-36 Month Roth IRA Share Certificate

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


DADE COUNTY
NCUA #24508
BankRate ReportView
Year Established1991
Employees226
Primary Regulator

Assets and Liabilities

Assets$515.91 million
Loans$256.63 million
Deposits$444.04 million
Equity Capital$59.82 million
Loan Loss Allowance$7.01 million
Unbacked Noncurrent Loans$4.00 million
Real Estate Owned$181,000

Historic Data - September 2010

Assets$497.97 million
Equity Capital$58.01 million
Loan Loss Allowance$6.47 million
Unbacked Noncurrent Loans$5.02 million
Real Estate Owned$114,000

Profit Margin - Quarterly

Net Interest Margin5.04%
Return on Assets0.37%
Return on Equity3.17%
Interest Income$17.66 million
Non-Interest Income$9.36 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Dade County Federal Credit Union had $4.18 million in non-current loans and owned real-estate with $66.83 million in equity and loan loss allowances on hand to cover it. This gives Dade County Federal Credit Union a Texas Ratio of 6.25% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Dade County Federal Credit Union decreased slightly from 7.97% as of September 30, 2010 to 6.25% as of September 30, 2011, resulting in a positive change of 21.49%.This indicates that the balance sheet and financial strength for Dade County Federal Credit Union has improved slightly in recent periods.
Deposit Growth4
In the past year, Dade County Federal Credit Union has increased its total deposits by $15.81 million, resulting in 3.69% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Dade County Federal Credit Union has shown is above average.
Capitalization5
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Dade County Federal Credit Union has $515.91 million in assets with $66.83 million in equity, resulting in a capitalization level of 12.95%, which is excellent.
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Customer Service Failure Regarding High Yield Checking Interest Payment
1 stars - Anonymous - Monday, August 30, 2010 - 3:23 PM

One of the requirements to get the High Yield is to have a monthly direct deposit. Since I had just qualified to start receiving my pension a couple years ago, I directed it to go to Dade Fed'd CU.  Everything was fine for about 1 1/2 years.  Since the pension was payable on the 1st, it usually posted between the 1st and 3rd of each month.  But the January 1St check was posted by the CU on Dec 30th and so they did not pay me the high yield for the month of January.  First I called customer service, expecting them to apologize and credit me with the difference since it was not my fault they posted it early. Plus I had been a loyal customer with direct deposit, etc, ect.  No Success.  So I went in to the local branch expecting a manager or supervisor to make the interest adjustment.  The Supervisor said he could not make any adjustment and blamed the situation on the fact that they are closed on New Years day and that it isn't their fault it posted early.   Even after supposedly checking with his manager, he said they couldn't make the adjustment. (Which Really Meant That My Business Wasn't Worth their Time Or $90). So 3 minutes later, they no longer had my business. To add insult to injury, they had the gall to charge me $3 to issue a bank check since I didn't want to carry $25K around in Cash. This was one of several disappointments I had with this institution, all revolving around their lack of customer service skills at all levels at both Miami Dade branches as well as their phone center.   This is the one that cost me money and the one straw that broke the camel's back.

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