Desert Schools Federal Credit Union is headquartered in Phoenix and is the largest credit union in the state of Arizona. It is also the 38th largest credit union in the nation. It was established in 1939 and as of December of 2016, it had grown to 938 employees and 316,666 members at 46 locations. Desert Schools Federal Credit Union has an A health rating.
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
About 2 years ago, I called Desert Schools Credit Union to apply for a car loan. I had just "OK" credit and wasn't sure I would get approved for any car. A friend of mine told me that Desert Schools is the best. I had thought that you needed to be a student or already have a bank account with them to be accepted, but I was advised that is not the case. So, I got their phone number from the website and gave them a call. The lady who helped me was extremely nice and made me feel important. The process was painless (even though I was scared I would be declined a loan). She gathered my information and was just as excited for me as I was for myself. I could tell that she really enjoyed helping people get loans. I told her that I was hoping to get this awesome Mercedes Benz that I found from a private seller and wanted to see if I could get a loan before I wasted the owners time even test driving. The car was about 3 years old at the time with only 23,000 miles on it, but again I was worried that my credit score would make me ineligible for a loan. She put me on hold to see if I could get approved. I was biting my nails in anticipation, but the wait wasn't very long. She came back on the phone and cheerfully told me that I was approved and to go test drive it! I could not believe it! She gave me a number to get back to her and secure the loan. I would also need to open a bank account with them so I could get a further discount on my loan rate and have the bill automatically withdrawn from this account. While I did not end up purchasing that car and using Desert Schools, I wouldn't hesitate for a second to call them again when I buy my next car. Heck, maybe I will call them on Monday and see if they'll refinance my car! If anything, they gave me the confidence I needed to walk into a dealership and get a great deal.
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.
Every time I start to research something I need, I find out Desert Schools probably offers the service.
I've been able to consult with Will and Trust attorneys, Retirement planning advisers, car and home insurance agents, all in addition to my regular banker. And all for free.
Always helpful and knowledgeable, without nickle and dime-ing me in fees!
Desert Schools is a great Credit Union to work with. I have banked with them for around 10 years and have never had an issue with them. If ever I have a question, they are quick to want to help so I'm left feeling confident in them. It is the kind of place where they remember your name and seem sincerely interested in helping you with all of your banking needs. Lately, I have used their online check cashing and have been happy with this new service. They have a great online app and website that makes banking easy day or night from home or while I'm out. I'd highly recommend Desert Schools to anyone looking for a bank that is reliable and customer friendly.
|Return on Assets - YTD||1.58%|
|Return on Equity - YTD||13.78%|
|Annual Interest Income||$114.9MM|
|Assets and Liabilities|
|Assets||Q4 2016vs Q4 2015||$4.03B$3.84B|
|Loans||Q4 2016vs Q4 2015||$1.78B$1.56B|
|Deposits||Q4 2016vs Q4 2015||$3.46B$3.18B|
|Equity Capital||Q4 2016vs Q4 2015||$462.6MM$406.6MM|
|Loan Loss Allowance||Q4 2016vs Q4 2015||$18.9MM$21.5MM|
|Unbacked Noncurrent Loans||Q4 2016vs Q4 2015||$14.1MM$8.4MM|
|Real Estate Owned||Q4 2016vs Q4 2015||$5.4MM$4.7MM|
Rates for Desert Schools Federal Credit Union are currently being reviewed.