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Department Of Commerce Federal Credit Union


Overview / Commentary
www.docfcu.org
202-808-3600
1401 Constitution Ave NW B-0038A
Washington, DC 20230

Department Of Commerce Federal Credit Union is headquartered in Washington and is the 2nd largest credit union in the District of Columbia. It is also the 499th largest credit union in the nation. It was established in 1964 and as of September of 2022, it had grown to 103 employees and 30,001 members at 3 locations. Department Of Commerce Federal Credit Union's money market rates are 6X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Department Of Commerce Federal Credit Union is open to all U.S. citizens and resident aliens through membership in the American Consumer Council. Individuals who live, work, worship, or attend school in Washington D.C. qualify for membership, as do the employees of the U.S. Department of Commerce, NOAA, or affiliates.
See current membership details

Related Posts

Dept of Commerce Federal Credit Union Ups 24-35 Month CD Rates - 12/5/2022

Department of Commerce Federal Credit Union (easy nationwide membership) has upped the rates on its 24-35 CD to rate leading level. $500 or $25k opening deposit.

Dept of Commerce Fed Credit Union Has Across-The-Board CD Rate Increases - 11/21/2022

Department of Commerce Federal Credit Union (easy membership) has upped all CD rates, with longer-terms being more competitive. $500 or $25k min opening deposit.

Dept of Commerce Federal Credit Union Bumps Up 12-23 Month CD Rate - 9/9/2022

Department of Commerce Federal Credit Union (easy membership nationwide) has boosted the rate on its 12-23 month CD by 61 bps. $500 or $25k opening deposit.

View all posts from:


Reviews (20)

UPDATE- 11-30-22 Open A New Account

Posted by: |

11-30-22
Just an update to my experience.

Called this week and was able to upgrade my IRA and CDs VERY easily to current rates! Made a significant difference!

VERY friendly and helpful CSR!

Just wanted to post another positive experience!

Hope of value to others.


I had the BEST experience opening a new account with ANYWHERE!

I've opened about a dozen new accounts over the last 5 years and most have been good a few were awfulI.

I Initially contacted DOC fcu customer support with a few questions. The CSR sent email to appropriate dept. and told me I should expect reply within 2 business days as it was over a weekend. I received response the same day!

EVERYONE i've dealt with have been friendly and helpful.

I was prepared when I submitted my application with all the needed info and once accepted got email confirming in process with a link to follow status of application. Don't recall ANY other financial institution doing that in the recent past.

I've seen no indication of credit bureau inquiry.

I did receive email request to unfreeze Chex and took care of that. Within 2 hours I received email letting me know they had what they needed and could re-freeze and did so.

Total time application to completed account was 5 days and 2 of those were over a weekend.

Hope this is helpful.

9

Tried To Open Membership And Cds

Posted by: |

The terms are very unfriendly, a hard pull when opening memberships. Also, NO partial early withdrawals from CDs, they close your entire CD if you take a few dollars out early. Other CUs allow partial withdrawals and deposit interest accrued to your checking/savings account.

Interacted with Sierra, who is a supervisor, very unfriendly. Had to fish out information.

3

Awful Customer Service

Posted by: |

I called on Monday, 11/21/22 with basic questions on opening a 5 YR CD. The CS agent could not help me but said that another agent would call me on Tuesday. Well, it’s Wednesday, 11/23/22 and no call. I was waiting to see if someone would call to test their CS competence. So far, I am very disappointed. I’ll call on Friday.

8

Opening A New Account

Posted by: |

I filled out an application on line Saturday and funded it today. How easy is that! The CSR was helpful and attentive to setting up a ACH for the CD.
Wouldn't want others to be put up by any misunderstanding of the process and ease to do business with Department of Commerce Federal Credit Union.

4
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Health
B+

Data as of Q3 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #16410
Year Chartered1964
Employees103
Primary Regulator
Profit Margin
Return on Assets - YTD3.25%
Return on Equity - YTD43.1%
Annual Interest Income$22.5MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$838.6MM$591.5MM
LoansQ3 2022vs Q3 2021$743.5MM$482.8MM
DepositsQ3 2022vs Q3 2021$703.4MM$490.3MM
Equity CapitalQ3 2022vs Q3 2021$64.0MM$44.5MM
Loan Loss AllowanceQ3 2022vs Q3 2021$2.3MM$1.3MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$3.1MM$552.00K
Real Estate OwnedQ3 2022vs Q3 2021$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Department Of Commerce 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.

Department Of Commerce Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%--Share Savings Account
0.05%--Club Account
0.05%--Youth Share Savings Account

Department Of Commerce Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%*$50k*-Money Market Account
OTHER TIERS: 2.25% → $2.5k - $20k | 2.35% → $20k - $50k
2.50%*$50k*-IRA Money Market Account
OTHER TIERS: 2.25% → $100 - $20k | 2.35% → $20k - $50k

Department Of Commerce Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.50%-$20kPerformance Checking Account

Department Of Commerce Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.32%$500-36-47 Month CD
4.32%$500-48-59 Month CD
4.32%$500-60-84 Month CD
4.29%$500-24-35 Month CD
4.14%$500-12-23 Month CD
4.03%$500-6-11 Month CD

Department Of Commerce Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.32%$500-36-47 Month Fixed IRA
4.32%$500-48-59 Month Fixed IRA
4.32%$500-60-84 Month Fixed IRA
4.29%$500-24-35 Month Fixed IRA
4.14%$500-12-23 Month Fixed IRA
Locations


Department Of Commerce Federal Credit Union Locations
Branch Office1325 E West HwySilver Spring, MD 20910
Corporate Office1401 Constitution Ave NW Rm B-0038AWashington, DC 20230-0001
Branch Office1724 F St NWWashington, DC 20505

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