DFCU Financial


Overview / Commentary
888-336-2700
400 Town Center Dr
Dearborn, MI 48126

DFCU Financial is headquartered in Dearborn and is the 2nd largest credit union in the state of Michigan. It is also the 38th largest credit union in the nation. It was established in 1936 and as of June of 2019, it had grown to 397 employees and 229,617 members at 30 locations. DFCU Financial's CD rates are 67% higher than the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in DFCU Financial is open to those who live, work, worship, or attend school in Michigan's Lower Peninsula. Joining The Henry Ford Museum ($60 annual fee) also qualifies for Credit Union membership, but if that option is used, joining DFCU Financial must be done in-branch.
See current membership details

Great experience

I was a member of the credit union for 20 years. I lived in the area and where I worked they had a branch onsite so it could not have been easier to do my banking when needed at a branch office. I liked the feeling that it was not a faceless corporation in attitude, even though you know overall, they are businesses and need to make a profit to stay afloat. I found their fees and minimum balance requirements to be more reasonable than a bank. I liked that they were member owned, it felt like they looked out more for the members instead of just the bottom line. I never had a serious issue in my 20 years with them. My only problem at times would be the fact that since they were smaller than a large bank, finding a fee free ATM could be a challenge but I did find some close to my house. It just meant you needed to plan ahead a little bit more if you wanted to go out and have cash with you to avoid the transaction fees. I would still be a customer of theirs if I lived in the area. I had to move out of the area, so it just wasn't a good option for me anymore since I could not get to an ATM or branch office easily. I would recommend using this credit union as I am sure that since the time I have been a customer, they have only improved on their services.

Don't choose banks, choose a credit union

I've been with this credit union for at least 5 years now. I love the amount of services this credit union provides. Also, since this is not a bank owned by shareholders, we, as members, get a dividend at the end of the year: $50 minimum and more if you have more interactions with them (i.e. mortgages, loans, etc). The customer service reps have always been helpful and the tellers are quick and accurate with the transactions. ATMs are 24/7, making it very convenient for me to get cash after the lobby/office closes. Loan rates and fees are much better than banks, I don't know why anyone would choose a privately owned bank over a credit union.

A former member's opinion

Posted by: Marcus | Aug 28, 2014

When I lived in Michigan, I was a member of the Dearborn Federal Credit Union, and I was satisfied with my banking needs. They were a decent group and would employ profits sharing annually to all of their members. I was disappointed with their online site, and the difficulty in getting to their customer service. Their limited number of branches and ATMs made withdrawing cash without fees, or having to purchase something I didn't need to get cashback, difficult. I am no longer a member.

Do Not Use DFCU For Auto Loans

Do not... I repeat DO NOT use Dearborn Federal Credit Union for your auto loans. They are complete idiots and argued with me on the phone about something THEY dropped the ball on. They also told me that they spoke with my husband this morning and that he said he got it taken care of even though that's complete bullshit. When I told them they knew the payments were supposed to come from MY account bc we physically went into their corporate office to set everything up, they argued with me and told me I'm wrong and that my husband already said he was paying it. When I spoke with this woman, she kept telling me that I was wrong and refused to let me speak with another person. My husband had to call back and tell them to speak with ME... which is ridiculous. When I called back and spoke with a new lady she told me the money is supposed to be coming out of my husband's account, which is NOT TRUE AND she didn't even know I was talking about the fusion instead of the flex. These people are complete idiots and incapable of handling any business. Now I need to go onto their office tomorrow before I go on vacation and I can tell you they do not want me going in there. This payment is 25 days late because of their errors and she had the nerve to tell me it's not on my credit report yet, so it's ok. No it's not ok you imbecile and don't ever tell me something is ok when it clearly is NOT. Learn to run your business properly.

Do NOT use #dfcu #dearbornfederalcreditunion

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Health

Health Grade Components

Overall
NCUA #61844
Year Chartered1936
Employees397
Primary Regulator
Profit Margin
Return on Assets - YTD1.77%
Return on Equity - YTD13.3%
Annual Interest Income$64.6MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$4.90B$4.71B
LoansQ2 2019vs Q2 2018$1.04B$1.04B
DepositsQ2 2019vs Q2 2018$4.21B$4.19B
Equity CapitalQ2 2019vs Q2 2018$645.3MM$476.9MM
Loan Loss AllowanceQ2 2019vs Q2 2018$7.4MM$7.5MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$3.2MM$4.9MM
Real Estate OwnedQ2 2019vs Q2 2018$191.00K$387.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not DFCU Financial; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

DFCU Financial Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%*$500k*-Business Savings
OTHER TIERS: 0.05% Up to $2.5k | 0.15% $2.5k - $25k | 0.20% $25k - $50k | 0.35% $50k - $100k | 0.55% $100k - $250k | 0.65% $250k - $500k
0.05%--Savings Account
0.05%--Holiday Savings Account
0.05%--Special Savings Account
0.05%--IRA Savings

DFCU Financial Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%*$500k*-Insured Money Market Account
OTHER TIERS: 0.05% Up to $2.5k | 0.15% $2.5k - $25k | 0.20% $25k - $50k | 0.35% $50k - $100k | 0.55% $100k - $250k | 0.65% $250k - $500k

DFCU Financial Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$50k*-Interest Checking Plus
OTHER TIERS: 0.05% Up to $50k
0.10%*$50k*-Business Interest Checking Plus
OTHER TIERS: 0.05% Up to $50k

DFCU Financial CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.80%*$100k*-5 Year Share Certificate
OTHER TIERS: 0.85% $1k - $25k | 1.40% $25k - $100k
1.80%*$100k*-Business 5 Year Share Certificate
OTHER TIERS: 0.85% $1k - $25k | 1.40% $25k - $100k
1.70%*$100k*-3 Year Share Certificate
OTHER TIERS: 0.65% $1k - $25k | 1.30% $25k - $100k
1.70%*$100k*-Business 3 Year Share Certificate
OTHER TIERS: 0.65% $1k - $25k | 1.30% $25k - $100k
1.60%*$100k*-2 Year Share Certificate
OTHER TIERS: 0.60% $1k - $25k | 1.25% $25k - $100k
1.60%*$100k*-Business 2 Year Share Certificate
OTHER TIERS: 0.60% $1k - $25k | 1.25% $25k - $100k
1.50%*$100k*-1 Year Share Certificate
OTHER TIERS: 0.50% $1k - $25k | 1.00% $25k - $100k
1.50%*$100k*-Business 1 Year Share Certificate
OTHER TIERS: 0.50% $1k - $25k | 1.00% $25k - $100k
0.75%*$100k*-6 Month Share Certificate
OTHER TIERS: 0.40% $1k - $25k | 0.60% $25k - $100k
0.75%*$100k*-Business 6 Month Share Certificate
OTHER TIERS: 0.40% $1k - $25k | 0.60% $25k - $100k
0.50%*$100k*-3 Month Share Certificate
OTHER TIERS: 0.30% $1k - $25k | 0.45% $25k - $100k
0.50%*$100k*-Business 3 Month Share Certificate
OTHER TIERS: 0.30% $1k - $25k | 0.45% $25k - $100k

DFCU Financial IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.80%*$100k*-5 Year IRA Certificate
OTHER TIERS: 0.85% $1k - $25k | 1.40% $25k - $100k
1.70%*$100k*-3 Year IRA Certificate
OTHER TIERS: 0.65% $1k - $25k | 1.30% $25k - $100k
1.60%*$100k*-2 Year IRA Certificate
OTHER TIERS: 0.60% $1k - $25k | 1.25% $25k - $100k
1.50%*$100k*-1 Year IRA Certificate
OTHER TIERS: 0.50% $1k - $25k | 1.00% $25k - $100k
0.75%*$100k*-6 Month IRA Certificate
OTHER TIERS: 0.40% $1k - $25k | 0.60% $25k - $100k
0.50%*$100k*-3 Month IRA Certificate
OTHER TIERS: 0.30% $1k - $25k | 0.45% $25k - $100k
Locations

Availability



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