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Overview / Commentary
508-263-6705
220 Donald Lynch Blvd
Marlborough, MA 01752

Digital Credit Union serves hundreds of companies and organizations, as well as hundreds of thousands of members and their families in every state of the country. Measured by assets, it is the largest credit union in Massachusetts and one of the largest nationwide. DCU offers its members products and services for personal and commercial banking, asset management, insurance, and realty.

On its personal banking side, Digital Credit Union provides savings accounts, checking accounts, money market accounts, and Certificate accounts. Checking accounts come with a Visa debit card, ATM access, non-DCU ATM reimbursement, free checks, and direct deposit. DCU’s savings and money market accounts offer interest when certain conditions are met, including a minimum account balance. Certificate accounts are offered in term lengths ranging from 3 to 60 months and usually offer higher than average interest rates.

Digital Credit Union online banking gives members easy access to all of their accounts and provides the ability to file important documents related to their accounts. The web platform also provides check imaging and is connected to Quicken to help members with their budgeting process. DCU also provides mobile banking through a free smartphone app from which members can access and manage their accounts and perform remote deposits.

Digital Equipment Corporation, a computer company trying to grow its list of employee benefits, originally organized digital Credit Union in 1979. The credit union has since expanded its membership base while keeping “Digital” in its name to honor its heritage from DEC. It is on the front edge of banking technology and seeks to offer its members highly sophisticated means to manage their accounts.

Field of Membership Restrictions

Membership in DCU is open to anyone through membership in Reach Out for Schools ($10 fee), Merrimack River Watershed Council, Inc. ($35 fee) and other select organizations. Membership is also open to those who live, work, attend school or worship in Lowell and Worcester, Massachusetts, in Cumming, Norcross, or Gainesville, Georgia and select areas of Chelmsford and Tewksbury, Massachusetts; to employees of CET Technology, Insulet Corporation, and over 500 Select Employer Groups.
See current membership details

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Online Only is No Problem

I found DCU after searching everywhere for a bank with no fees for checking. I was a little nervous about the "online only" factor, especially when signing up and putting very personal information through the internet, but after being with them for over 2 years I can say I've never had an issue with it. They have a ton of no-fee ATMs you can use, and even depositing checks is easy if you have a little tech savvy. The wait for customer service on the phone can be a bit long sometimes but it's still better than my previous big bank, and the reps are always super friendly and helpful. The website is easy to use as well, and transfers to/from my other bank go through in a timely manner. I'm glad I got over my initial worry about an online only bank because it's the best one I've used!

DCU Experience

I have a DCU free checking account, and it is great because there are no monthly fees or anything. I also have a savings account. Because of my relationship to the credit union, I get certain benefits, which are very helpful. I get reimbursed ATM fees, so if I go to a bar and take cash from an ATM with a $2 fee, at the end o the month DCU reimburses me that $2 into my checking account. Customer service can be a hit-or-miss, the automated phone system at times makes it difficult to get through to the proper channels, but most of the time the service reps are very nice and helpful. I use mobile banking, too. The DCU app is very easy to use and helpful to access my account during the day.

Frozen Membership Was Hard To Deal With

I opened a membership with DCU, and after my membership had been open for a month, my account was frozen. The experience of getting my account unlocked was pretty bad - I was treated like I was a criminal because they suspected my account was fraudulent, and they weren't really interested in helping me prove that I wasn't.

Not Friendly

Posted by: planxy | Jul 26, 2017

Tried to open up account using promotion. Got return in mail stating, and I remember the rejection word-for-word. "Digital Credit Union is not interested in opening an account for you." Never had a financial institution say anything near that. No red flags in any payments or accounts.

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Health

Health Grade Components

Overall
NCUA #23521
Year Chartered1979
Employees1000
Primary Regulator
Profit Margin
Return on Assets - YTD1.18%
Return on Equity - YTD12.66%
Annual Interest Income$66.1MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$7.98B$7.14B
LoansQ1 2017vs Q1 2016$6.38B$5.73B
DepositsQ1 2017vs Q1 2016$6.51B$5.74B
Equity CapitalQ1 2017vs Q1 2016$725.5MM$631.7MM
Loan Loss AllowanceQ1 2017vs Q1 2016$49.5MM$44.1MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$31.8MM$31.1MM
Real Estate OwnedQ1 2017vs Q1 2016$2.1MM$2.5MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

DCU Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.12%*-$1kPrimary Savings
OTHER TIERS: 0.05% $1k+
5.12%*-$1kBusiness Primary Savings
OTHER TIERS: 0.05% $1k+
1.00%$25k-DCU Ltd Savings
1.00%$25k-Business DCU Ltd Savings Account
0.45%*$100k*-HSA Checking Account
OTHER TIERS: 0.20% Up to $1k | 0.25% $1k - $10k | 0.30% $10k - $25k | 0.35% $25k - $50k | 0.40% $50k - $100k
0.20%--IRA Savings Account
0.05%--Savings Account
0.05%$20-Holiday Club
0.05%$100-Member Described Accounts
0.05%$100-Business Member Described Savings Account

DCU Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%*$100k*-Money Market Account
OTHER TIERS: 0.55% $1k - $10k | 0.65% $10k - $25k | 0.75% $25k - $50k | 0.85% $50k - $100k
0.90%*$100k*-Money Market IRA Account
OTHER TIERS: 0.55% $1k - $10k | 0.65% $10k - $25k | 0.75% $25k - $50k | 0.85% $50k - $100k
0.90%*$100k*-Business Money Market Savings Account
OTHER TIERS: 0.55% $1k - $10k | 0.65% $10k - $25k | 0.75% $25k - $50k | 0.85% $50k - $100k

DCU Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%*$400k*-Premier Business Checking
OTHER TIERS: 0.05% $20k - $75k | 0.10% $75k - $150k | 0.15% $150k - $400k
0.05%--Dividend Checking

DCU CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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
1.41%$25k-Jumbo 36 - 47 Month Certificate - Relationship Rate
1.34%$25k-Jumbo 27 Month Jump-Up CD - Relationship Rate
1.31%$500-36 - 47 Month Certificate - Relationship Rate
1.31%$100-36 - 47 Month Quick Start Certificate - Relationship Rate
1.26%$25k-Jumbo 24 - 35 Month Certificate - Relationship Rate
1.24%$500-27 Month Jump-Up CD - Relationship Rate
1.19%$25k-Jumbo 15 Month Jump-Up CD - Relationship Rate
1.16%$500-24 - 35 Month Certificate - Relationship Rate
1.16%$100-24 - 35 Month Quick Start Certificate - Relationship Rate
1.11%$25k-Jumbo 12 - 23 Month Certificate (Add-On) - Relationship Rate
1.09%$500-15 Month Jump-Up CD - Relationship Rate
1.01%$500-12 - 23 Month Certificate (Add-On) - Relationship Rate
1.01%$100-12 - 23 Month Quick Start Certificate (Add-On) - Relationship Rate
0.70%$25k-Jumbo 6 - 11 Month Certificate (Add-On) - Relationship Rate
0.60%$500-6 - 11 Month Certificate (Add-On) - Relationship Rate
0.60%$100-6 - 11 Month Quick Start Certificate (Add-On) - Relationship Rate
0.60%$25k-Jumbo 3 - 5 Month Certificate (Add-On) - Relationship Rate
0.50%$500-3 - 5 Month Certificate (Add-On) - Relationship Rate
0.50%$100-3 - 5 Month Quick Start Certificate (Add-On) - Relationship Rate

DCU IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.86%$500-60 Month IRA Certificate - Relationship Rate
1.60%$500-48 - 59 Month IRA Certificate - Relationship Rate
1.41%$500-36 - 47 Month IRA Certificate - Relationship Rate
1.34%$500-27 Month Jump-Up IRA - Relationship Rate
1.26%$500-24 - 35 Month IRA Certificate - Relationship Rate
1.19%$500-15 Month Jump-Up IRA - Relationship Rate
1.11%$500-12 - 23 Month IRA Certificate - Relationship Rate
0.70%$500-6 - 11 Month IRA Certificate - Relationship Rate
0.60%$500-3 - 5 Month IRA Certificate - Relationship Rate
Locations

DCU has 23 locations. Click to view all DCU locations.