Desert Financial Credit Union is headquartered in Phoenix and is the largest credit union in the state of Arizona. It is also the 35th largest credit union in the nation. It was established in 1939 and as of September of 2024, it had grown to 1,289 employees and 472,620 members at 50 locations. Desert Financial Credit Union's money market rates are 8X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Desert Financial Credit Union is open to those who live, work, worship, attend school or volunteer in all Arizona counties with the exceptions of Apache, Graham, Greenlee, and Santa Cruz Counties. Immediate family members of a current Desert Financial Credit Union are also eligible to join.
See current membership details
No Longer A Customer Service Credit Union
I have been a member for over 15 years, but after today, I am closing my account. Customer service has diminished at this credit union, and I feel like I'm just a number, not a member. They couldn't care less if I remain a member, so I have no choice but to close my checking and savings accounts..
Account Closure
Requested to close account. Received a call back from a representative that was not in the correct department. I was told I had to call back the next day as that department was closed.
Question: So why not leave a message for your member as "members do matter most"! Have not had to complete forms to close an account before. I cannot believe how much red tape there is now that this institution has stopped supporting other credit unions and in reality has become a bank, worse than Wells Fargo or Bank of America.
Bate And Switch
My husband opened an account at a Desert Financial branch. He had (or so he thought) acquired a part-time advertising opportunity and the company had sent a check so he could go get the merchandise branding artwork put on his vehicle. The day he went into the location to open the account he inquired with the staff to ensure the check was valid. He was told by the woman that it was good and she had seen other patrons with checks from the same bank come in before so not to worry. So they deposited it and made a small amount available to my husband right away. Well, a few days later the nightmare came to light. The bank the check was drawn off from retracted the funds and deemed the check fraud. The branch contacted my husband to discuss this. Of course, he advised that this matter would get cleared up within the next 30 days and asked if he would lose his account over this because he wanted to switch his SSDI check over to Desert Financial. He was assured by the staff again that all would be good as long as the account was corrected within 30 days. This all occurred between Aug 2 and Aug 5th. Today, my husband walked into the branch with the full amount needed to correct his account. Less than 30 days later, and the representative he spoke with told him both is checking and saving accounts were closed, that he was not allowed to have an account with this credit union again. WHY DID YOU LIE? There are laws that allow you to take action against people who default so why lie to someone? If you were going to close the account anyways just say it. You are not the only victim here. My husband lost more than the few dollars owed to you (which was paid back with funds he didn't have, had to borrow because it was important to him to make it right with you). You are horrible for your deceit just as the person who lured my husband in is. Disgusting!
Terribly Incompetent!
Absolutely incompetent! Before driving 20 miles to the nearest branch, I called and asked them what documents I needed to bring with me in order to open a business account. The customer service rep told me what to bring and I asked four additional times if he was sure this is what I needed, as I didn't want to make a second trip. I even told him that if he was incorrect and the branch required additional paperwork, I would take my money and go elsewhere. He assured me, so my business partners and I made the journey to town, only to find that they did indeed need additional paperwork. I took my money (several hundred thousand dollars) and walked right out the door. If they can't competently handle the basics, why in the world would I entrust them with my hard-earned money????
Data as of Q3 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68713 |
| Year Chartered | 1939 |
| Employees | 1289 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.91% |
| Return on Equity - YTD | 11.04% |
| Annual Interest Income | $275.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $8.9B$8.35B |
| Loans | Q3 2024vs Q3 2023 | $4.23B$3.98B |
| Deposits | Q3 2024vs Q3 2023 | $7.74B$7.39B |
| Equity Capital | Q3 2024vs Q3 2023 | $731.6MM$503.6MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $38.3MM$37.5MM |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $9.2MM$6MM |
| Real Estate Owned | Q3 2024vs Q3 2023 | $0$133K |
