Democracy Federal Credit Union
Democracy Federal Credit Union is headquartered in Alexandria and is the 39th largest credit union in the state of Virginia. It is also the 1,292nd largest credit union in the nation. It was established in 1936 and as of December of 2023, it had grown to 31 employees and 12,458 members at 5 locations. Democracy Federal Credit Union 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
Exception Service
Democracy provided me with exceptional service. They helped me with a debt consolidation loan. I couldn't be happier. Highly recommend them.
Great Experience
I am not sure why this credit union has such bad reviews.
I opened an account online, had several conversations on the phone and visited the Alexandria branch.
The staff is pleasant, and I was able to open a ROTH IRA at a very competitive rate.
$25 Reward For Membership Sponsor At DFCU
Seeking an Existing Member at Democracy Federal Credit Union (DFCU) to sponsor me to join DFCU. $25 reward paid to that member upon approval of my membership application . Please contact me at 4133150259 or PM by hitting chrisking above.
Thanks,
Chris
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.
Data as of Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 1407 |
| Year Chartered | 1936 |
| Employees | 31 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.1% |
| Return on Equity - YTD | -1.22% |
| Annual Interest Income | $8.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $192MM$170.4MM |
| Loans | Q4 2023vs Q4 2022 | $144.8MM$130.4MM |
| Deposits | Q4 2023vs Q4 2022 | $163MM$151.9MM |
| Equity Capital | Q4 2023vs Q4 2022 | $15MM$14.8MM |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $2MM$893K |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $1.2MM$178K |
| Real Estate Owned | Q4 2023vs Q4 2022 | $87K$87K |