Department of Commerce FCU Adds New Performance Checking
Department of Commerce Federal Credit Union’s (DOCFCU) new rewards checking account, Performance Checking, earns 2.73% APY on qualifying balances up to $20k. Qualifying balances over $20k and non-qualifying balances do not earn any interest.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 3.57% | - | $20k | Department Of Commerce Federal Credit Union | Performance Checking Account |
Qualifying Requirements
- Have at least 12 debit card purchases totaling a minimum of $100
- Receive eStatements
- Have at least one direct deposit
- Login to mobile/online banking at least once a month
The Performance Checking account has no monthly service fee, no minimum balance requirement, and no minimum opening deposit requirement. At this time, non-DOCFCU ATM fees are not reimbursable, but CSR stated that might change in the future.
Availability
Headquartered in Washington, D.C., Department Of Commerce Federal Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, attend school, or worship in the District of Columbia eligible to join.
Employees of the U.S. Department of Commerce or NOAA also qualify for membership.
Family members of current DOCFCU members are also welcome to apply.
Joining DOCFCU and/or opening an Performance Checking account can be done online, or at either of the two District of Columbia branches or the single Maryland branch in Silver Spring.
Credit Union Overview
Department of Commerce Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.04% (excellent) based on June 30, 2017 data. In the past year, DOCFCU has increased its total non-brokered deposits by $10.06 million, an above average annual growth rate of 2.79%. Please refer to our financial overview of Department of Commerce Federal Credit Union (NCUA Charter # 16410) for more details.
Department Of Commerce Federal Credit Union was established in 1932 for the benefit of the employees of the Department of Commerce. In 2005, DOCFCU expanded its FOM to “adopt” the city of Washington, D.C., giving its more than 571,000 residents the opportunity to join. Further expansion occurred in 2015 when the White House Federal Credit Union merged with DOCFCU. Currently the District’s third largest credit union, DOCFCU has more than 20,000 members and assets in excess of $439 million.
How the Performance Checking Compares
When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com that are available within the FOM and have maximum qualifying balances of at least $20k, Department of Commerce Federal Credit Union’s Performance Checking APY currently ranks second.
To look for the best Reward Checking Account rates, both nationwide and in your state, please refer to our High Yield Reward Checking Account rates table or our Rates Map page.
The above rates are accurate as of 11/8/2017.
