DATCU Credit Union is headquartered in Corinth and is the 20th largest credit union in the state of Texas. It is also the 294th largest credit union in the nation. It was established in 1936 and as of June of 2023, it had grown to 202 employees and 106,621 members at 13 locations. DATCU Credit Union's CD rates are 6X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in DATCU Credit Union is open to those who live or work in the Texas counties of Clay, Collin, Cooke, Dallas. Denton, Grayson, Jack, Montague, Parker, Tarrant, or Wise. Immediate family of current DATCU members also qualify for membership.
See current membership details
DATCU rocks
DATCU was one of the first banks or credit unions that I ever used as a child. I opened a checking/savings account with them when I was 15 and I have used them ever since. The biggest benefit of DATCU is that it's a small and local credit union so they care about their reputation. Their customer service is absolutely top notch and I've had many of their associates go above and beyond what's strictly necessary. If I were looking for a new savings account or loan I wouldn't even consider somewhere else. The interest rates in my savings account could certainly by higher, but that's true across the industry so it's difficult to fault them for that. I've considered opening a CD with DATCU but have yet to do so. I'm not sure I like the idea of locking my money up and making it inaccessible for such a small interest rate when the market is flying sky high right now.
The New Way To Bank
I am not sure I am ready to jump on the credit union band wagon. This particular experience left me asking more questions than hen I started. If we walk into a place of banking with 3 or 4 questions and walk out with 10 more (and felt rushed through the first set), do we really want to consider this new way of banking? I am not sure I do. At least with this particular place I think they have a lot going on they want you to find out down the line.
I have had mixed experiences with my credit union
When I first went in I was happy with opening an account with zero fees. As long as I kept $25 in my checking for the first six months I would incur no fees. This is a good deal. I have had a few problems. One time I went to two different ATMs at midnight and they were both closed. I was fairly angry although I believe this to be a one time occurrence for I have been back at midnight and they have been open. Also, the first time I cashed a check they put a week's hold on the check. Apparently, they also put a lock on any overseas purchases, so I had to tell them personally to permanently take a lock off my account so I could purchase globally. Aside from these inconveniences, they have extremely good, friendly customer service.
Other CU's Better
DATCU will make a “hard pull” on your credit unlike most CU’s. Didn’t know at the time but that’s water under the bridge. After being an account holder for over a year, I went to move my trust account to them. Not only could they not complete after going through all the machinations, they did another “hard pull” on my credit. Had to “escalate” and finally received an “apology” that stated I was correct as an existing member, no additional credit check was required but fell short as they “could” not remove the inquiry.
I used to take my change to them but started getting “revisions” – always lower than my receipt.
Found RBFCU. Much better service and they offer a free business checking account.
Inconvenient
This bank is okay if you have simple needs and can do most of your personal banking in person. Keep in mind that the lobby hours are terribly inconvenient. They are not partnered up with other credit unions if you move out of state or possibly town. They rely on most of thier customers to come into the bank in person for various banking needs, this has become a pain.
Phone customer service varies, I've called and gotten one answer only to get another answer by another person. There are some representatives that will try to problem solve with you, and some that are borderline rude. I spoke with a woman today that was not helpful in anyway. I will be closing my account as soon as I get home.
Look Elsewhere
DATCU has cut back services & provides mediocre to poor customer service. The virtual branch is particularly unhelpful with poor support and indignant staff. Specifically they've stopped cashing savings bonds that members own and have not honored the reward program that accompanies their credit card. They're now more of a financial institution masquerading as a member centered credit union, and I'd encourage folks to look elsewhere in Denton County
Auto Insurance
I went through DATCU for Auto Insurance. The experience was pleasant at first, and I found decent rates and decided to go with them. After being with them for 6+ months, they decided to change my address to an old address and add members to my policy whom I do not live with. I sent an e-mail stating such, and after not receiving any correspondance there after assumed that it was not an issue. Later in the mail I received notice that my rate went up due to having underage policy holders on this vehicle. I did not even live at the location at the time this policy started. I am still waiting for resolution on this issue.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 67535 |
| Year Chartered | 1936 |
| Employees | 202 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.55% |
| Return on Equity - YTD | 10.18% |
| Annual Interest Income | $32.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $1.58B$1.55B |
| Loans | Q2 2023vs Q2 2022 | $1.36B$1.36B |
| Deposits | Q2 2023vs Q2 2022 | $1.33B$1.33B |
| Equity Capital | Q2 2023vs Q2 2022 | $240.3MM$212.3MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $4.0MM$4.0MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $870.00K$731.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
