3 star ratingAverage User Rating:
3 star rating based on 5 reviews.

Digital Credit Union

Digital Credit Union Locations
220 Donald Lynch Blvd
Marlborough, MA 01752
508-263-6705
www.dcu.org

NCUA

Digital Credit Union is headquartered in Marlborough and is the largest credit union in the state of Massachusetts. It is also the 19st largest credit union in the nation. It was established in 1979 and as of December of 2012, it had grown to 749 employees and 379,345 members. Digital Credit Union's savings rates are 63% higher than the national average, and it has a 4-star health rating.

Related Posts

Free FICO Credit Scores At DCU (Forum) - 12/19/2012

DCU members have access to free Equifax FICO credit scores. I first reported on this in 2010. One unfortunate change is that you now must have either the Checking Plus or Relationship Checking account to qualify for the free service. DCU described this se

Special 8-Month CD Rate at Digital Federal Credit Union - Easy Membership - 11/19/2012

Digital Credit Union is offering an excellent short-term CD deal. It's a 1.50% APY 8-month certificate. Minimum deposit is $1,000. It's a limited time offer. The special is listed on DCU's front page ...

Credit Unions Offering Virtual Safe Deposit Boxes - 9/19/2012

Thanks to a reader's email, I learned about a new service that Digital Credit Union (DCU) has recently launched. It's called File Vault. Here's how DCU describes this service in its File Vault FAQ : ...

What to Do with Maturing CDs? Choosing the Best New Long-Term CD - 1/16/2012

Many 5-year CDs with interest rates over 5.00% will be maturing this year, and several readers with these CDs have been trying to decide what to do with that money. Unfortunately, there isn't any grea ...

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

Digital Credit Union Checking Account Rates

ApyMinMaxProduct
0.20%$400k-Premier Business Checking
0.05%$2,500-Dividend Checking

Digital Credit Union Savings Account Rates

ApyMinMaxProduct
0.85%$25k-DCU Ltd Savings
0.20%$25k-HSA Checking Account
0.20%--IRA Savings Account
0.20%--Roth IRA Savings
0.20%--SEP IRA Savings
0.20%--Simple IRA Savings
0.10%--Minor Savings
0.05%--Savings Account
0.05%$20-Holiday Club
0.05%$100-Member Described Accounts

Digital Credit Union Money Market Rates

ApyMinMaxProduct
0.80%$100k-Money Market Account
0.80%$100k-Money Market IRA Account

Digital Credit Union CD Rates

ApyMinMaxProduct
1.86%$25k-Jumbo 60 Month Certificate - Relationship Rate
1.75%$500-60 Month Certificate - Relationship Rate
1.75%$100-60 Month Quick Start Certificate - Relationship Rate
1.60%$25k-Jumbo 48 - 59 Month Certificate - Relationship Rate
1.50%$500-48 - 59 Month Certificate - Relationship Rate
1.50%$100-48 - 59 Month Quick Start Certificate - Relationship Rate
1.35%$25k-Jumbo 36 - 47 Month Certificate - Relationship Rate
1.25%$500-36 - 47 Month Certificate - Relationship Rate
1.25%$100-36 - 47 Month Quick Start Certificate - Relationship Rate
1.23%$2,500-Jumbo 27 Month Jump-Up CD - Relationship Rate
1.13%$500-27 Month Jump-Up CD - Relationship Rate
1.11%$25k-Jumbo 24 - 35 Month Certificate - Relationship Rate
1.00%$500-24 - 35 Month Certificate - Relationship Rate
1.00%$100-24 - 35 Month Quick Start Certificate - Relationship Rate
0.85%$25k-Jumbo 12 - 23 Month Certificate (Add-On) - Relationship Rate
0.75%$500-12 - 23 Month Certificate (Add-On) - Relationship Rate
0.75%$100-12 - 23 Month Quick Start Certificate (Add-On) - Relationship Rate
0.73%$2,501-Jumbo 15 Month Jump-Up CD - Relationship Rate
0.63%$500-15 Month Jump-Up CD - Relationship Rate
0.60%$25k-Jumbo 3 - 5 Month Certificate (Add-On) - Relationship Rate
0.60%$25k-Jumbo 6 - 11 Month Certificate (Add-On) - Relationship Rate
0.50%$500-3 - 5 Month Certificate (Add-On) - Relationship Rate
0.50%$500-6 - 11 Month Certificate (Add-On) - Relationship Rate
0.50%$100-3 - 5 Month Quick Start Certificate (Add-On) - Relationship Rate
0.50%$100-6 - 11 Month Quick Start Certificate (Add-On) - Relationship Rate

Digital Credit Union IRA Rates

ApyMinMaxProduct
1.86%$500-60 Month IRA Certificate - Relationship Rate
1.86%$500-60 Month Roth IRA Certificate - Relationship Rate
1.86%$500-60 Month SEP IRA Certificate - Relationship Rate
1.86%$500-60 Month SIMPLE IRA Certificate - Relationship Rate
1.60%$500-48 - 59 Month IRA Certificate - Relationship Rate
1.60%$500-48 - 59 Month Roth IRA Certificate - Relationship Rate
1.60%$500-48 - 59 Month SEP IRA Certificate - Relationship Rate
1.60%$500-48 - 59 Month SIMPLE IRA Certificate - Relationship Rate
1.35%$500-36 - 47 Month IRA Certificate - Relationship Rate
1.35%$500-36 - 47 Month Roth IRA Certificate - Relationship Rate
1.35%$500-36 - 47 Month SEP IRA Certificate - Relationship Rate
1.35%$500-36 - 47 Month SIMPLE IRA Certificate - Relationship Rate
1.23%$500-27 Month Jump-Up IRA - Relationship Rate
1.23%$500-27 Month Jump-Up Roth IRA - Relationship Rate
1.23%$500-27 Month Jump-Up SEP IRA - Relationship Rate
1.23%$500-27 Month Jump-Up SIMPLE IRA - Relationship Rate
1.11%$500-24 - 35 Month IRA Certificate - Relationship Rate
1.11%$500-24 - 35 Month Roth IRA Certificate - Relationship Rate
1.11%$500-24 - 35 Month SEP IRA Certificate - Relationship Rate
1.11%$500-24 - 35 Month SIMPLE IRA Certificate - Relationship Rate
0.85%$500-12 - 23 Month IRA Certificate - Relationship Rate
0.85%$500-12 - 23 Month Roth IRA Certificate - Relationship Rate
0.85%$500-12 - 23 Month SEP IRA Certificate - Relationship Rate
0.85%$500-12 - 23 Month SIMPLE IRA Certificate - Relationship Rate
0.73%$500-15 Month Jump-Up IRA - Relationship Rate
0.73%$500-15 Month Jump-Up Roth IRA - Relationship Rate
0.73%$500-15 Month Jump-Up SEP IRA - Relationship Rate
0.73%$500-15 Month Jump-Up SIMPLE IRA - Relationship Rate
0.60%$500-3 - 5 Month IRA Certificate - Relationship Rate
0.60%$500-6 - 11 Month IRA Certificate - Relationship Rate
0.60%$500-3 - 5 Month Roth IRA Certificate - Relationship Rate
0.60%$500-6 - 11 Month Roth IRA Certificate - Relationship Rate
0.60%$500-3 - 5 Month SEP IRA Certificate - Relationship Rate
0.60%$500-3 - 5 Month SIMPLE IRA Certificate - Relationship Rate
0.60%$500-6 - 11 Month SEP IRA Certificate - Relationship Rate
0.60%$500-6 - 11 Month SIMPLE IRA Certificate - Relationship Rate

Rates updated: 5/17/2013

Data for Q4 2012


Institution Statistics


DIGITAL
NCUA #23521
BankRate ReportView
Year Chartered1979
Employees749
Primary Regulator

Assets and Liabilities

Assets$4.74 billion
Loans$3.92 billion
Deposits$3.88 billion
Equity Capital$396.34 million
Loan Loss Allowance$54.82 million
Unbacked Noncurrent Loans$39.20 million
Real Estate Owned$6.24 million

Historic Data - December 2011

Assets$4.23 billion
Equity Capital$320.45 million
Loan Loss Allowance$82.01 million
Unbacked Noncurrent Loans$51.14 million
Real Estate Owned$13.47 million

Profit Margin - Quarterly

Net Interest Margin3.9%
Return on Assets1.58%
Return on Equity18.93%
Interest Income$180.83 million
Non-Interest Income$32.12 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
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, 2012 Digital Credit Union had $45.44 million in non-current loans and owned real-estate with $451.16 million in equity and loan loss allowances on hand to cover it. This gives Digital Credit Union a Texas Ratio of 10.07% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Digital Credit Union decreased slightly from 16.05% as of December 31, 2011 to 10.07% as of December 31, 2012, resulting in a positive change of 37.27%.This indicates that the balance sheet and financial strength for Digital Credit Union has improved slightly in recent periods.
Deposit Growth5
In the past year, Digital Credit Union has increased its total deposits by $439.73 million, resulting in 12.78% 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 Digital Credit Union has shown is excellent.
Capitalization3
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. Digital Credit Union has $4.74 billion in assets with $451.16 million in equity, resulting in a capitalization level of 9.53%, which is average.
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Very Nice People, A Happy Customer
5 stars - trudy - Saturday, March 5, 2011 - 4:34 AM

I've been a member of the Digital Federal Credit Union for years.  Their customer service is excellent, whether by phone or email.  They are extremely nice and knowledgeable people.

When I joined originally, it was only open to employees (and their family members) of Digital Equipment Corporation, but now it is accessible to employees (and family members) of many companies and organizations, as listed on their website dcu.org.  They define family widely, including grandparents, grandchildren, etc.

Their rates for CDs are among the best.  Recently, at the beginning of 2011, they have been offering 3% on selected 5 year CDs, at a time when the local banks where I live and the brokerage firm I am a customer of are barely breaking 1% and 2% for those, respectively.  As far as I can tell, their rates for car loans and mortgages are very good as well.

I have my checking account there, at no annual fee, no fee for writing checks, etc. and have had for many years.  Even though I now live in another state, distance has never been a problem with this.  They have an online feature which allows customers to scan in checks for deposit.

7

Digital Credit Union
3 stars - outtempster - Wednesday, June 16, 2010 - 3:03 PM

If you have a DCU account, you can get your free credit score (from Equifax) every month. Once in a while they also have good CD promotion. However, the free credit score is the main reason that I have this account.

7

DCU CERTIFICATE RATES
1 stars - jojibro - Wednesday, February 8, 2012 - 2:00 AM

The rates DCU publishes on it's website are for customers with a "relationship checking".

This is only available if you have a loan or credit card, activate e statements and set up a direct deposit of net pay only.

Tried another source of direct deposit and DCU failed to mention that it was invalid, so no promo certificate rate.

Without that cd rates are 25 basis points (.25) less than published.

Some words of warning, regular accounts can not be designated POD.

So one must make the account a Totten Trust in order to have a beneficiary.

However, if you do that, you can not have any credit card or loan.

Stupid rules that serve no good purpose & misleading rates...

Frustrating experience.


 

5

Re. Checking Account Requirement To Open A CD
4 stars - Jake - Wednesday, December 28, 2011 - 3:53 PM

Nutgraf - I'm planning to open a CD with DCU.  I contacted them and they said that a checking account is not required.  The only requirement is to open a savings account with $5.

4

CD Rates Posted Are Slightly Misleading
1 stars - Nutgraf - Monday, March 14, 2011 - 11:46 AM

DCU requires that you have an active checking account to get the rates that are posted on Deposit Accounts.com.  If you do not maintain that account and meet it's requirements, you get .25% less interest.

4
 
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