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Direct Federal Credit Union


Overview / Commentary
www.direct.com
781-455-6500
50 Cabot St
Needham, MA 02494

Direct Federal Credit Union is headquartered in Needham and is the 17th largest credit union in the state of Massachusetts. It is also the 508th largest credit union in the nation. It was established in 1953 and as of March of 2021, it had grown to 76 employees and 31,951 members at 1 location. Direct Federal Credit Union has an A health rating.

Field of Membership Restrictions

Membership in Direct Federal is open to the following: 1) those who live, work (or regular conduct business in), attend school, or worship in Norfolk or Middlesex Counties of Massachusetts; 2) immediate family of those eligible to join.
See current membership details

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Reviews (2)

Absolutely Unusable

Posted by: |

Direct Federal is useless. Not only do they NEVER return phone calls - you have to call them continuously for days and wait on hold for up to an hour to speak to someone who knows nothing and promises a callback - but no one ever calls back EVER.

They have recently "upgraded" their online banking to make it absolutely unusable. They also closed their only branch so you can't even show up to do your banking unless you make an appointment. So no online banking that works and no ability to drop in and do banking. Useless and unusable.

1

Customer Service

Posted by: |

Horribly frustrating!
Its like everytime I talk to direct federal c u the person presents like it's their first day on the job with no previous experience ! STAY AWAY !

1


Health
A

Data as of Q1 2021

Learn why bank health matters

Health Grade Components

Overall
NCUA #9071
Year Chartered1953
Employees76
Primary Regulator
Profit Margin
Return on Assets - YTD0.5%
Return on Equity - YTD4.12%
Annual Interest Income$5.4MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$752.5MM$767.5MM
LoansQ1 2021vs Q1 2020$599.1MM$665.3MM
DepositsQ1 2021vs Q1 2020$617.6MM$606.0MM
Equity CapitalQ1 2021vs Q1 2020$91.0MM$89.9MM
Loan Loss AllowanceQ1 2021vs Q1 2020$4.3MM$2.7MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$4.9MM$5.6MM
Real Estate OwnedQ1 2021vs Q1 2020$276.00K$289.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Direct Federal Credit Union; 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.

Direct Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$5-Savings Account

Direct Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%$25k-Premium Money Market - New Money
0.30%*$200k*-Money Market Account
OTHER TIERS: 0.10% → Up to $50k | 0.15% → $50k - $100k | 0.20% → $100k - $200k

Direct Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.05%$100k-48 Month Jumbo CD
1.05%$100k-60 Month Jumbo CD
1.00%$250-48 Month CD
1.00%$250-60 Month CD
0.95%$100k-36 Month Jumbo CD
0.90%$250-36 Month CD
0.60%$100k-30 Month Jumbo CD
0.55%$250-30 Month CD
0.55%$100k-24 Month Jumbo CD
0.50%$250-24 Month CD
0.50%$100k-21 Month Jumbo CD
0.45%$250-21 Month CD
0.40%$100k-15 Month Jumbo CD
0.40%$100k-18 Month Jumbo CD
0.35%$250-15 Month CD
0.35%$250-18 Month CD
0.35%$100k-12 Month Jumbo CD
0.30%$250-12 Month CD
0.30%$100k-3 Month Jumbo CD
0.30%$100k-6 Month Jumbo CD
0.30%$100k-9 Month Jumbo CD
0.30%$100k-Business 7 Month Jumbo CD
0.30%$100k-Business 3 Month Jumbo CD
0.30%$100k-Business 6 Month Jumbo CD
0.25%$250-3 Month CD
0.25%$250-6 Month CD
0.25%$250-9 Month CD
0.25%$250-Business 7 Month CD
0.25%$250-Business 3 Month CD
0.25%$250-Business 6 Month CD

Direct Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.05%$100k-48 Month Jumbo IRA
1.05%$100k-60 Month Jumbo IRA
1.00%$250-48 Month IRA
1.00%$250-60 Month IRA
0.95%$100k-36 Month Jumbo IRA
0.90%$250-36 Month IRA
0.60%$100k-30 Month Jumbo IRA
0.56%$50-24 Month Variable IRA
0.55%$250-30 Month IRA
0.55%$100k-24 Month Jumbo IRA
0.50%$250-24 Month IRA
0.50%$100k-21 Month Jumbo IRA
0.45%$250-21 Month IRA
0.40%$100k-15 Month Jumbo IRA
0.40%$100k-18 Month Jumbo IRA
0.35%$250-15 Month IRA
0.35%$250-18 Month IRA
0.35%$100k-12 Month Jumbo IRA
0.30%$250-12 Month IRA
0.30%$100k-3 Month Jumbo IRA
0.30%$100k-6 Month Jumbo IRA
0.30%$100k-9 Month Jumbo IRA
0.25%$250-3 Month IRA
0.25%$250-6 Month IRA
0.25%$250-9 Month IRA
Locations


Direct Federal Credit Union Locations
Branch Office50 Cabot StNeedham, MA 02494

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