Democracy Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 2.02% | 5-year IRA | 2.28% - National Average |
| 3.00% | Reward Checking | 1.73% - National Average |
| 1.00% | Reward Savings | 0.81% - National Average |
Democracy Federal Credit Union is headquartered in Alexandria and is the 40th largest credit union in the state of Virginia. It is also the 1,273rd largest credit union in the nation. It was established in 1936 and as of December of 2018, it had grown to 44 employees and 14,417 members at 6 locations. Democracy Federal Credit Union's CD rates are 2X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership is open to those who live, work, worship, attend school, or regularly conduct business in most areas of the City of Alexandria, Arlington and Fairfax Counties, Virginia; Most areas of Prince George’s and Montgomery Counties in Maryland and all areas of the city of Washington D.C.
See current membership details
Related Posts
Horrible Experience
This is a terrible financial institution. You can call them any time of day but noone answers the phone and if you leave a message with your name and number they will never get back to you. It took TWO MONTHS from the date that I opened my account to receive a debit card. They do not cash checks for anyone as a policy, even if you are a paying member, and any checks you deposit will have a hold placed on them for one to two days. The employees are apathetic and rude and the management doesn't know the meaning of customer service. I wouldn't recommend this credit union to my worst enemy.
Horrible Service And Rude Employees
After Democracy Credit Union took over from HEW Credit Union the service was so bad that one employee would tell you one thing and another would tell you the opposite. For example I have funds automatically taken out of my account for my HOA. Democracy never informed clients that the number to used for ACH had changed, but sent me a rude letter informing me that if my HOA used the same number as HEW I would have to pay a $35 fee. Spoke with the manager and she mentioned that she had received the same letter. I spoke with three Democracy employees and each one gave me a different number-I closed my account, On April 7, 2017 I received a debit card in the mail from Democracy. I called their 888 number and person who answered call told me that if the credit union had sent me a debit card when i no longer had an account that very possibly someone had opened account in my name. On Monday, April 10th I called the credit union only to hear that the bank was closed for the day for employee training. the following day, I called again only to be put on hold for 45 minutes, I hung up and called back later only to be put on hold for 27 minutes. Tried calling on the next day(Wednesday) but message came on that they were closed for employee training. On Friday, April 14th I called again only to be put on hold for 32 minutes, called again and finally reached one of the most incompetent employees. She wanted to know the exact date that I had closed my account but I could not remember, then she asked me the name of the manager I spoke with two years ago. I could not remember. Then asked for my social security number -she repeated the number but had copied it wrong. Finally after three attempts to get her to repeat my number and having her keep transposing numbers. Then she informs me that there had been a deposit in my checking account in July and that my checking account was still active, I informed her that the only money in my account was $5. in my saving account. I was so angry by this time that I told her that she was incompetent and she hung up on me. I still do not know why I received this debit card
Horrible Service
Lowlights: poorly greeted, did not use my name, did not smile, branch smelled old plus someone must have just microwaved a smelly dish, stains on walls and furniture.
Highlights: when I walked out and drove away in my car financed at another credit union
Many Upset Members, Long Lines And Wait Times Via Phone
I tried these people out and they disappoint each time. Long wait times on the phone, slow response to questions via email and unfriendly people at offices.
Hours are poor at the offices and they have NO Saturday phone hours. For a big city that means they are not really in the game or business of helping people. They have made mistakes on my payroll posting dates and overall they are not a polished place you would want to keep your money.
Too many other better choices of credit unions run much better here in the DC and MD area.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 1407 |
| Year Chartered | 1936 |
| Employees | 44 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.05% |
| Return on Equity - YTD | 0.45% |
| Annual Interest Income | $5.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $147.1MM$152.6MM |
| Loans | Q4 2018vs Q4 2017 | $84.1MM$84.8MM |
| Deposits | Q4 2018vs Q4 2017 | $129.2MM$135.6MM |
| Equity Capital | Q4 2018vs Q4 2017 | $15.6MM$15.7MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $903.00K$848.00K |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $884.00K$1.1MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $230.00K$0 |
Always verify rates and promotions with the bank or credit union. We are not Democracy Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Democracy Federal Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.00% | - | $50k | Kasasa Saver | ||
| 0.75%* | $3.5k* | - | IRA Variable Rate Share | ||
| OTHER TIERS: 0.50% → Up to $3.5k | |||||
| 0.40%* | $100* | - | Youth & Young Adult Shares | ||
| OTHER TIERS: 0.30% → Up to $100 | |||||
| 0.15% | $100 | - | Holiday Share Account | ||
| 0.15% | $100 | - | Vacation Share | ||
| 0.05% | $100 | - | Regular Share Account | ||
Democracy Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.50%* | $100k* | - | Money Management Account | ||
| OTHER TIERS: 0.30% → $1k - $10k | 0.35% → $10k - $25k | 0.40% → $25k - $50k | 0.45% → $50k - $100k | |||||
Democracy Federal Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.00% | - | $10k | Kasasa Cash |
Democracy Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.37% | $2k | - | 60 Month Share Certificate | ||
| 2.22%* | $1k* | - | 6 Month Youth & Young Adult Generation Certificate | ||
| OTHER TIERS: 2.02% → $100 - $500 | 2.12% → $500 - $1k | |||||
| 2.00% | $1k | - | 12 Month Share Certificate Special - New Money | ||
| 1.85% | $1k | - | 31 Month Share Certificate - New Money | ||
| 1.65% | $1k | - | 17 Month Share Certificate - New Money | ||
| 1.56% | $2k | - | 36 Month Share Certificate | ||
| 1.31% | $1k | - | 24 Month Share Certificate | ||
| 0.75% | $500 | - | 6 Month Share Certificate | ||
| 0.50% | $100 | - | 9 Month Share Certificate | ||
| 0.40% | $500 | - | 3 Month Share Certificate | ||
Democracy Federal Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.02% | $2.5k | - | 60 Month IRA | |
| 1.82% | $2k | - | 36 Month IRA | |
| 1.51% | $500 | - | 12 Month IRA | |
| 1.51% | $500 | - | 36 Month CESA | |
| 1.00% | $500 | - | 12 Month CESA |
| Democracy Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 200 Independence Ave SW | Washington, DC 20201 |
| Branch Office | 5720 Silver Hill Rd | District Heights, MD 20747 |
| Branch Office | 300 Spring Garden St | Philadelphia, PA 19123 |
| Branch Office | 5107 Leesburg Pike | Falls Church, VA 22041 |
| Branch Office | 400 N Columbus St | Alexandria, VA 22314 |
| Branch Office | 400 N Columbus St | Alexandria, VA 22314-2259 |