Desert Financial Credit Union

Overview / Commentary
148 N 48th St
Phoenix, AZ 85034

Desert Financial Credit Union is headquartered in Phoenix and is the largest credit union in the state of Arizona. It is also the 41st largest credit union in the nation. It was established in 1939 and as of December of 2018, it had grown to 847 employees and 332,023 members at 46 locations. Desert Financial Credit Union's money market rates are 3X the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership is open to those who live, work, attend school or worship in Gila, Maricopa or Pinal Counties or immediate family of those eligible.
See current membership details

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Great Bank

Posted by: Advitype | Oct 10, 2017

This credit union feels like a small town institution. When we go to the bank it's never been a bad experience, all the staff from managers to clerks are very friendly and knowledgeable. We have used this credit union for checking and savings. The services provided are professional and useful, and our rates in savings are very favorable. The checking account has a service charge, but not too bad. The online services are user friendly and easy to use. We are able to do a great deal of banking online which is very useful to us. There are some times that we can do the majority of our banking from home. We have been very pleased with the services provided and will certainly continue to use their services for the foreseeable future.

Good Experience Overall

I have a checking account and savings account at Desert Schools Credit Union. Opening the accounts was very easy, and it only took about 30 minutes to open them. The staff was very nice and helpful. For the checking account you had to spend at least $15 each month or else you had to pay a fee. This was a little strange and sometimes we forgot to use the account and had to buy $15 worth of stuff just to avoid the fee. The only problem is the app. The app is not very easy to use, and it was a big ordeal just checking the amount of money that we had in each account. It's better to not use the app at all and just use the website on a desktop computer. Overall we are having a great experience as customers at this credit union, just the app is not as good as expected.

Great customer service

I had to run into the bank to take care of a debit card situation. My card was no longer working because it had been suspended by the bank for potential fraudulent charges. This was the second in time in two months that someone had gotten a hold of my card information. Not only did the CSR issue me a card on the spot, she also upgraded my account so that we were not paying the higher cost of fees. It was an appreciated gesture since we had been long time customers and had not asked for this do be done, she did ti if her own accord. We were surprised that she had offered to make this change since we were just there to get a new debit card issued.

Caught in the act

Posted by: corahowe | Nov 17, 2017

In a matter of a two month time span My debit card was shut down twice for possible fraud charges. Though this was frustrating to have to deal with, the credit union was very helpful. When I was originally notified that there were possible fraudulent activity on my card I ignored it thinking it was scammers. Because I did not immediately contact the bank as requested they locked down my card for further use, which I found out as I was trying to make a purchase and my card was declined. The store I was in happened to have a banking location in it so I stopped in to take care of the issue. As I was dealing with the teller, she pulled up my account info and while we were waiting for my new card to generate she noticed the type of account I had and informed us that she could switch our checking account over to another type of account that would lower the fees associated with the current account. Though I was irritated to have my debit card info stolen, the thieves were not able to purchase anything using my card and I ended up with an account that had lower fees associated with it.



Health Grade Components

NCUA #3238
Year Chartered1939
Primary Regulator
Profit Margin
Return on Assets - YTD1.54%
Return on Equity - YTD11.46%
Annual Interest Income$141.8MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$4.51B$4.33B
LoansQ4 2018vs Q4 2017$2.12B$1.93B
DepositsQ4 2018vs Q4 2017$3.86B$3.66B
Equity CapitalQ4 2018vs Q4 2017$603.7MM$540.1MM
Loan Loss AllowanceQ4 2018vs Q4 2017$16.5MM$17.1MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$5.6MM$6.8MM
Real Estate OwnedQ4 2018vs Q4 2017$3.8MM$4.3MM
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Desert Financial Credit Union Savings Account Rates

0.35%--IRA Savings
0.35%--Health Savings
0.10%$25-Membership Savings
0.10%--Holiday Savings

Desert Financial Credit Union Money Market Rates

1.20%*$250k*-Money Market
OTHER TIERS: 0.25% $2k - $10k | 0.50% $10k - $25k | 0.70% $25k - $50k | 0.85% $50k - $100k | 1.05% $100k - $250k

Desert Financial Credit Union CD Rates

2.58%$100k-5 Year Jumbo Savings Certificate
2.53%$1k-5 Year Savings Certificate
2.27%$100k-4 Year Jumbo Savings Certificate
2.22%$1k-4 Year Savings Certificate
2.17%$100k-3 Year Jumbo Savings Certificate
2.12%$1k-3 Year Savings Certificate
1.66%$100k-2 Year Jumbo Savings Certificate
1.61%$1k-2 Year Savings Certificate
1.16%$100k-18 Month Jumbo Savings Certificate
1.11%$1k-18 Month Savings Certificate
1.06%$100k-1 Year Jumbo Savings Certificate
1.06%$1k-1 Year College Savings Certificate
1.00%$1k-1 Year Savings Certificate
0.85%$100k-6 Month Jumbo Savings Certificate
0.80%$1k-6 Month Savings Certificate

Desert Financial Credit Union IRA Rates

2.58%$100k-5 Year Jumbo IRA Savings Certificate
2.53%$1k-5 Year IRA Savings Certificate
2.27%$100k-4 Year Jumbo IRA Savings Certificate
2.22%$1k-4 Year IRA Savings Certificate
2.17%$100k-3 Year Jumbo IRA Savings Certificate
2.12%$1k-3 Year IRA Savings Certificate
1.66%$100k-2 Year Jumbo IRA Savings Certificate
1.61%$1k-2 Year IRA Savings Certificate
1.16%$100k-18 Month Jumbo IRA Savings Certificate
1.11%$1k-18 Month IRA Savings Certificate
1.06%$100k-1 Year Jumbo IRA Savings Certificate
1.00%$1k-1 Year IRA Savings Certificate
0.85%$100k-6 Month Jumbo IRA Savings Certificate
0.80%$1k-6 Month IRA Savings Certificate


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