Democracy Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 2.02% | 5-year IRA | 60 Month IRA (Traditional, Roth) 1.41% - National Average |
| 1.25% | 5-year CD | 60 Month Share Certificate 1.85% - Synchrony Bank 60 Month CD |
| 0.50% | 1-year CD | 12 Month Share Certificate 1.05% - Ally Bank High Yield 12-Month CD |
Democracy Federal Credit Union is headquartered in Alexandria and is the 36th largest credit union in the state of Virginia. It is also the 1,174th largest credit union in the nation. It was established in 1936 and as of June of 2016, it had grown to 47 employees and 16,651 members at 5 locations. Democracy Federal Credit Union's CD rates are 11% higher than 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 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.
No More Chances, I'm Done With HEW FCU And It's Poor Board And CEO
Just closed my account after giving HEW multiple chances to get its service well oiled. I can only guess the board and chairman or women in this case is just washed up including their very long term CEO. Way behind the curve in technology, obvious staff training opportunities and operational blunders such as the refusing to serve black women with head coverings, not face, but head.
No weekend phone hours or they seem to go to thief Saturday office who can't handle the volumn due to poor staffing. This branch has gone thru many managers in 10 years, none lasting more than 1-2 years. Why is this? Bad hiring practices or poor treatment of staff? Turnover at other locations is very high so you neve get to know them as you do at most other credit unions. My loan request were agonizingly slow approvals and loan process for someone with good credit and user online service is one. The most outdated I have ever experienced in 30 plus years of banking. Staff are rude at best sometimes and are not interested in my future as I imagine they work for people who are not intested in expanding their own staffs future. Bottom line, move on and bank at another credit union, you have many better in the DC region or just contact the Board of HEW and ask them to merge with another CU.
Operational Alarms Screaming For Better Service, Improved Website, Customer Service, Branch Locations, A Call Center And Talented Staff.
First, lets just get this out of the way. If you are considering working for HEW I would not recommend your choice unless you desire a poor carrer future. Ok, after being a member for 4 years and a current Govt employee in one of the locations whe they have a physical branch I can say I have experienced much at this credit union. Most of all they have changed nothing in 4 years of being a member yet so much needs to be upgraded. The phone hours are very poor, no weekend hours and only open until 4 during week. Only 3 branch locations, 2 in government buildings and only one free standing. Free standing branch is is a very poor location in Forestville, MD which serves only one demographic of their membership, African Americans. Free standing branch is located in a bad area, not safe for many customers or a female. Branch climate is stale, bad art, poor lighting, very dated furniture, messy desk and dusty. Not an inviting place to place your money much less to experience with a child you may be introducing to banking. Web site is very outdated and clunky to find anything useful. Staff are unfriendly and unwilling to go the extra mile to be helpful and anything about just very average, nothing special and at times poor. Staff are far from being well oiled and polished people. Staffing is poor at peak times and wait times can tend to be above average to see a service rep away from the teller line. Fees are higher than most credit unions in the country.
HEW FCU Takes Money From My Wallet While Provided A High Level Of Horrible Service.
I have been a member for many years and experienced a high rate of employee turnover. Each time hoping the next occasion I spoke to staff on the phone, online or in-person it would be improved. My hopes have been dashed each year.
Shame on HEW for not upholding to the high standards of what a credit union should be.
Staff use unprofessional language, slow response time and don't seem to care about thier work or work environment due to the lack of upkeep and 'look' of the offices. But perhaps this has more to do with senior staff. Staff tell me things that are not accurate about policy and ways to utilize my account. I have had more fees charged over the years than I can accurately count, at my summation it averages over $200 each year.
Unlike thier new slogan, they take more and more money out of my pocket each year and provide me little guidance on how to stop this from happening or a path to help shape a positive financial future for my family. I know this becaue I am a member at another credit union which does not do any of the above. I would never open an account here for my children, it would be a very poor introduction for them of how money and the banking system can work for you.
Prospective Members Use Cation If You Desire Full Good Service Financial Partner
As a member of HEW I have always found service to be poor and have taken most loans and deposits elsewhere. Let me define poor service. Phone and online systems down often. Poor hours, closing early. Employees and offices not inviting, poor clothing, language not of an educated financial partner but someone very rough around the edges, offices look and smell old, not welcoming or pleasing to the eye. Online systems are antiquated, slow and new generational banking options not available. CD rates may be good and they may currently be a well capitalized organization but clearly this is at a huge cost of poor infrastructure and low expectations of service. Doors are open but what's truly offered to a member or young adult who needs guidance is non-existent at HEW. Banking with them would be a poor investment of your time.
A Very Sorry Credit Union.
HEW is a very sorry, ghetto credit union. It lacks organization. There is no follow up or follow through with members, it does not have enough staff. The call center staff are all new and call wait times are really bad. there are in branch and contact center training issues. I have banked with the Credit Union for over five years and this is a warning to ALL who may be considering banking with this Credit Union.
Very Bad Service, Out Of Date Banking
This CU is very old and out-dated, having updated nothing in years. I closed my accounts after only a few weeks due to poor service, horrible bill-pay and terrible office hours plus the staff are not helpful, even the senior staff was rude when I called.
Data as of Q2 2016
Learn more about bank healthHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 1407 |
| Year Chartered | 1936 |
| Employees | 47 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.14% |
| Return on Equity - YTD | 1.3% |
| Annual Interest Income | $2.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2016vs Q2 2015 | $157.1MM$154.6MM |
| Loans | Q2 2016vs Q2 2015 | $82.0MM$84.0MM |
| Deposits | Q2 2016vs Q2 2015 | $138.5MM$136.6MM |
| Equity Capital | Q2 2016vs Q2 2015 | $16.3MM$15.6MM |
| Loan Loss Allowance | Q2 2016vs Q2 2015 | $1.1MM$1.3MM |
| Unbacked Noncurrent Loans | Q2 2016vs Q2 2015 | $1.5MM$981.00K |
| Real Estate Owned | Q2 2016vs Q2 2015 | $0$53.00K |
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 | |
|---|---|---|---|---|---|
| 0.75%* | $3,500* | - | IRA Variable Rate Share | ||
| OTHER TIERS: 0.50% → Up to $3,500 | |||||
| 0.75%* | $3,500* | - | Roth IRA Variable Rate Share | ||
| OTHER TIERS: 0.50% → Up to $3,500 | |||||
| 0.75%* | $3,500* | - | CESA Variable Rate Share | ||
| OTHER TIERS: 0.50% → Up to $3,500 | |||||
| 0.40%* | $100* | - | HEWEY Shares | ||
| OTHER TIERS: 0.30% → Up to $100 | |||||
| 0.05% | $100 | - | Regular Share Account | ||
| 0.05% | $100 | - | Holiday Share Account | ||
Democracy Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.35%* | $100k* | - | Money Management Account | ||
| OTHER TIERS: 0.15% → $1k - $10k | 0.20% → $10k - $25k | 0.25% → $25k - $50k | 0.30% → $50k - $100k | |||||
Democracy Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.22%* | $1k* | - | 6 Month Youth & Young Adult Generation Certificate | ||
| OTHER TIERS: 2.02% → $100 - $500 | 2.12% → $500 - $1k | |||||
| 1.30% | $1k | - | 24 Month Share Certificate Special | ||
| 1.25% | $2k | - | 60 Month Share Certificate | ||
| 1.00% | $1k | - | 12 Month Share Certificate Special | ||
| 0.80% | $2k | - | 36 Month Share Certificate | ||
| 0.65% | $1k | - | 24 Month Share Certificate | ||
| 0.50% | $1k | - | 12 Month Share Certificate | ||
| 0.40% | $100 | - | 9 Month Share Certificate | ||
| 0.30% | $500 | - | 6 Month Share Certificate | ||
Democracy Federal Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.02% | $2k | - | 60 Month IRA | |
| 1.51% | $500 | - | 36 Month CESA | |
| 1.00% | $500 | - | 12 Month CESA | |
| 1.00% | $500 | - | 36 Month IRA | |
| 0.75% | $500 | - | 12 Month IRA |
| 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 |