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 34th largest credit union in the nation. It was established in 1939 and as of December of 2023, it had grown to 1,209 employees and 453,713 members at 49 locations. Desert Financial Credit Union's money market rates are 8X the national average, and it has a B 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

Fantastic Credit Union!

Posted by: |

I have both personal and commercial accounts with Desert Financial. They always have provided me with amazing customer service and are a pleasure to work with. I've read a few bad reviews about them and just wanted to add my positive experience. Seems the best way to be happy with your bank and avoid fees is to keep a reasonable balance in your accounts, and don't miss any loan payments. I've only been charged fees when incoming wire transfer fees, etc. But all in all this a great credit union with great people. I've held accounts at other Banks and cu's and desert financial is one of the best.

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.

Avoid at all costs

Posted by: |

When the market crashed we approached them regarding a short sale, they were impossible to work with and the specific person in charge was a nightmare. We tried to do the right thing during a difficult time and are still paying the price for having done business with them. They don't care about the customer and since that time I continued to try to work with them, 7 years later they have the same approach land lack of customer service. I look forward to not having to do business with them again. There are far better alternatives, IE: PenFed for one.

No Longer A Customer Service Credit Union

Posted by: |

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..



Health Grade Components

NCUA #68713
Year Chartered1939
Primary Regulator
Profit Margin
Return on Assets - YTD1%
Return on Equity - YTD13.97%
Annual Interest Income$303.9MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$8.71B$8.19B
LoansQ4 2023vs Q4 2022$4.02B$3.76B
DepositsQ4 2023vs Q4 2022$7.3B$7.56B
Equity CapitalQ4 2023vs Q4 2022$610.5MM$468.5MM
Loan Loss AllowanceQ4 2023vs Q4 2022$38.1MM$17.1MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$10.1MM$4.1MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
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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

2.75%--IRA Savings
2.75%--Health Savings
0.10%$25-Membership Savings
0.10%--Holiday Savings

Desert Financial Credit Union Money Market Rates

3.50%*$250k*-Money Market
OTHER TIERS: 1.15% $2k - $10k | 1.25% $10k - $25k | 1.40% $25k - $50k | 2.05% $50k - $100k | 2.75% $100k - $250k

Desert Financial Credit Union CD Rates

5.00%$1k-6 Month Savings Certificate
5.00%$1k-1 Year Savings Certificate
5.00%$100k-6 Month Jumbo Savings Certificate
5.00%$100k-1 Year Jumbo Savings Certificate
5.00%$1k-1 Year College Savings Certificate
4.55%$100k-18 Month Jumbo Savings Certificate
4.50%$1k-18 Month Savings Certificate
4.13%$100k-5 Year Jumbo Savings Certificate
4.07%$1k-5 Year Savings Certificate
4.00%$100k-2 Year Jumbo Savings Certificate
3.95%$1k-2 Year Savings Certificate
3.92%$100k-4 Year Jumbo Savings Certificate
3.87%$1k-4 Year Savings Certificate
3.87%$100k-3 Year Jumbo Savings Certificate
3.82%$1k-3 Year Savings Certificate

Desert Financial Credit Union IRA Rates

5.00%$1k-6 Month IRA Savings Certificate
5.00%$1k-1 Year IRA Savings Certificate
4.50%$1k-18 Month IRA Savings Certificate
4.07%$1k-5 Year IRA Savings Certificate
3.95%$1k-2 Year IRA Savings Certificate
3.87%$1k-4 Year IRA Savings Certificate
3.82%$1k-3 Year IRA Savings Certificate


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