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888-336-2700
P.O. Box 6048
Dearborn, MI 48121

DFCU Financial is headquartered in Dearborn and is the largest credit union in the state of Michigan. It is also the 36th largest credit union in the nation. It was established in 1936 and as of December of 2013, it had grown to 368 employees and 214,735 members. DFCU Financial has a A+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Michigan’s lower peninsula. - See Details

Reviews (2)

DFCU Financial

DFCU is a terrific credit union in southeast Michigan, which I highly recommend. Transactions are easy, staff have always been extremely helpful. This institution offers a wide range of loan products as well. In each of the past few years, a member dividend has been paid in January. The amount has been based on an average of deposits over the preceding year, but is always at least $50 for every member. I have been a member of this credit union for over 30 years, and cannot say enough positive things about it.

Dearborn Federal Credit Union Review

Though my parents have had dealings with them all their lives, I didn't until I needed a car loan. They were easy to deal with and did everything in a timely manner. I had to open up a savings account with them in order for my loan to be approved (which I didn't care for in the beginning) but soon enjoyed it after they started giving a $50 bonus at the end of the year for the first two years. Unfortunately they don't have this service anymore. Their statements are very clear and I've only called them once for clarification and they were very courteous and helpful.



Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

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 December 31, 2013 DFCU Financial had $6.02 million in non-current loans and owned real-estate with $395.09 million in equity and loan loss allowances on hand to cover it. This gives DFCU Financial a Texas Ratio of 1.52% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for DFCU Financial experienced no significant changes from 1.17% as of December 31, 2012 to 1.52% as of December 31, 2013, resulting in a negative change of 30.55%. This indicates that the balance sheet and financial strength for DFCU Financial has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, DFCU Financial has increased its total deposits by $191.28 million, resulting in 6.59% 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 DFCU Financial has shown is excellent.

Capitalization

GRADE:
A

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. DFCU Financial has $3.54 billion in assets with $395.09 million in equity, resulting in a capitalization level of 11.17%, which is excellent.

Institution Statistics

Overall
NCUA #61844
Year Chartered1936
Employees368
Primary Regulator
Assets and Liabilities
Assets$3.54 billion
Loans$1.13 billion
Deposits$3.09 billion
Equity Capital$382.65 million
Loan Loss Allowance$12.45 million
Unbacked Noncurrent Loans$5.69 million
Real Estate Owned$331,000
Historic Data - December 2012
Assets$3.36 billion
Equity Capital$400.92 million
Loan Loss Allowance$18.27 million
Unbacked Noncurrent Loans$5.69 million
Real Estate Owned$656,000
Profit Margin - Quarterly
Net Interest Margin4.67%
Return on Assets0.92%
Return on Equity8.53%
Interest Income$82.38 million
Rates

Always verify rates and promotions with the bank or credit union. We are not DFCU Financial, we are a rate comparison website and can not provide official rates or promotions.

DFCU Financial Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--Savings Account
0.05%--Holiday Savings Account
0.05%--Special Savings Account
0.05%--IRA Savings Account
0.05%--Roth IRA Savings Account

DFCU Financial Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$100k-Insured Money Market Account

DFCU Financial Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$50k-Interest Checking Plus Account

DFCU Financial CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$100k-5 Year Share Certificate
0.60%$100k-3 Year Share Certificate
0.50%$100k-2 Year Share Certificate
0.35%$100k-1 Year Share Certificate
0.30%$100k-6 Month Share Certificate
0.25%$100k-3 Month Share Certificate

DFCU Financial IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$100k-5 Year IRA Certificate (Traditional,Roth)
0.60%$100k-3 Year IRA Certificate (Traditional,Roth)
0.50%$100k-2 Year IRA Certificate (Traditional,Roth)
0.35%$100k-1 Year IRA Certificate (Traditional,Roth)
0.30%$100k-6 Month IRA Certificate (Traditional,Roth)
0.25%$100k-3 Month IRA Certificate (Traditional,Roth)
Locations

DFCU Financial has 24 locations. Click to view all DFCU Financial locations.