DEXSTA Federal Credit Union is headquartered in Wilmington and is the 4th largest credit union in the state of Delaware. It is also the 818th largest credit union in the nation. It was established in 1937 and as of June of 2023, it had grown to 60 employees and 36,573 members at 5 locations. DEXSTA Federal Credit Union's CD rates are 6X the national average, and it has a C+ health rating.
Field of Membership Restrictions
DEXSTA Federal Credit Union offers membership to those who live, work, worship, attend school, or volunteer in Kent County or New Castle County, Delaware, or in Cecil County, Maryland.
See current membership details
Is It Possible To Love A Bank? Only If It's A Credit Union
I've been a member of Dexsta since the early 2000's. I believe my mom has been a member since 1990. We love Dexsta! I briefly left Dexsta to join Commerce Bank (RIP) when I was in college but then came running back to Dexsta when Commerce was bought out by TD North (awful bank!)
I moved to the Dallas, Texas region this year and was worried I wouldn't be able to keep my Dexsta bank very easily (they are not in the shared branching network of unions). I opened up an account at a local bank called ViewPoint (only one I could find in my area close to me with good reviews) for whenever I need to deposit cash.
Anyhow, Dexsta finally joined the modern world with remote deposit for checks! Yay! I am SO happy I can keep them now. They have the best loan rates and credit card rates, they treat you like family on the phone and I've never had any security issues with my card or their website (even though it's old-school-looking). There's no min checking balance (there shouldn't be for a credit union!) and deposits and withdrawals are nearly instant on the website. It's easy to join, you just have to live or work in DE and if you end up moving like I did, you still get to keep them. I plan on getting a car through them at some point. Their mobile deposit system works pretty quickly (two-three days is better than mailing a check and hoping it gets there safely). I highly recommend them for all your banking needs. The only other credit union you should consider is Louviers (they are a shared branch union btw).
My only negative mark is they are not part of the shared branching network of credit unions so that I can make cash deposits from another CU in the network, but it's ok.
CD Rate Worth The Effort For This Retiree
As one who has been chasing rates for my IRAs over the past several years, having to visit the brick and mortar to open an account was inconvenient. However, the 3.29% APY on a 5 year with the ability to add on IRA transfers over the term, was a winner for me. Furthermore, the customer service couldn't have been better. Initial telephone inquiries and face-to-face contact rate superior among my experiences.
Elderly Beware
We went to open a joint CD at Dexsta. We put our son as beneficiary. We were informed that if we both should die, he would get the CD BUT if he withdraws it before the maturity date he would have to pay a 180 day penalty. None of our other banks have this policy. PLUS Dexsta does a hard pull from Experian and Chexsystem. WE HATE Chexsystem with a passion. Our credit score is 800+. We’ve never been overdrawn or had a late payment yet our Checksystem score is 640. We avoid banks and credit unions that use Chexsystem.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 2187 |
| Year Chartered | 1937 |
| Employees | 60 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.38% |
| Return on Equity - YTD | 7.27% |
| Annual Interest Income | $7.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $413.4MM$409.8MM |
| Loans | Q2 2023vs Q2 2022 | $290.0MM$269.0MM |
| Deposits | Q2 2023vs Q2 2022 | $373.3MM$383.3MM |
| Equity Capital | Q2 2023vs Q2 2022 | $21.5MM$23.3MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$1.6MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $2.3MM$1.6MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |