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Overview / Commentary
50 Cabot St, P.O. Box 9123
Needham, MA 02494

Direct Credit Union is headquartered in Needham and is the 23rd largest credit union in the state of Massachusetts. It is also the 518st largest credit union in the nation. It was established in 1953 and as of March of 2014, it had grown to 43 employees and 24,839 members. Direct Credit Union has a A health rating.

Field of Membership Restrictions

Must live, work, worship, volunteer or go to school in Norfolk County. - See Details

Reviews (1)

Maintenance Fees

I have been a customer of Direct Federal for 12 years now, and I have over $50k in deposits there, and have taken multiple loans (car loan, line of credit) with them. These loans have always been paid back in full and on time. Why are they charging me a $5 monthly & maintenance fee!? Irked customer who will move his money elsewhere!


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Direct Credit Union had $3.36 million in non-current loans and owned real-estate with $72.3 million in equity and loan loss allowances on hand to cover it. This gives Direct Credit Union a Texas Ratio of 4.64% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Direct Credit Union decreased slightly from 6.26% as of March 31, 2013 to 4.64% as of March 31, 2014, resulting in a positive change of 25.80%.This indicates that the balance sheet and financial strength for Direct Credit Union has improved slightly in recent periods.

Deposit Growth


In the past year, Direct Credit Union has decreased its total deposits by -$18.87 million, resulting in -4.98% 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 Direct Credit Union has shown is below average.



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. Direct Credit Union has $425.75 million in assets with $72.3 million in equity, resulting in a capitalization level of 16.98%, which is excellent.

Institution Statistics

NCUA #9071
Year Chartered1953
Primary Regulator
Assets and Liabilities
Assets$425.75 million
Loans$359.70 million
Deposits$359.84 million
Equity Capital$63.40 million
Loan Loss Allowance$8.91 million
Unbacked Noncurrent Loans$2.90 million
Real Estate Owned$453,000
Historic Data - March 2013
Assets$441.49 million
Equity Capital$57.13 million
Loan Loss Allowance$11.47 million
Unbacked Noncurrent Loans$2.90 million
Real Estate Owned$525,000
Profit Margin - Quarterly
Net Interest Margin0.83%
Return on Assets1.66%
Return on Equity11.12%
Interest Income$3.40 million
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Direct Credit Union Savings Account Rates

0.40%$75k-Savings Account

Direct Credit Union Money Market Rates

0.40%$75k-Save Smart Money Market Account

Direct Credit Union CD Rates

1.25%$250-60 Month CD
1.15%$250-48 Month CD
1.00%$250-36 Month CD
0.75%$250-24 Month CD
0.75%$250-30 Month CD
0.45%$250-18 Month CD
0.35%$250-12 Month CD
0.35%$250-15 Month CD
0.30%$250-9 Month CD
0.25%$250-3 Month CD
0.25%$250-6 Month CD
0.25%$250-7 Month CD

Direct Credit Union IRA Rates

1.25%-$100k60 Month IRA Certificate
1.15%-$100k48 Month IRA Certificate
1.00%-$100k36 Month IRA Certificate
0.75%$50-24-month Variable-Rate IRA CD
0.75%-$100k24 Month IRA Certificate
0.75%-$100k30 Month IRA Certificate
0.45%-$100k18 Month IRA Certificate
0.35%-$100k12 Month IRA Certificate
0.35%-$100k15 Month IRA Certificate
0.30%-$100k9 Month IRA Certificate
0.25%-$100k3 Month IRA Certificate
0.25%-$100k6 Month IRA Certificate

Direct Credit Union Locations
Branch Office50 Cabot StNeedham, MA 02494