Direct Federal Credit Union


Overview / Commentary
781-455-6500
50 Cabot St
Needham, MA 02494

Direct Federal Credit Union is headquartered in Needham and is the 15th largest credit union in the state of Massachusetts. It is also the 520th largest credit union in the nation. It was established in 1953 and as of June of 2024, it had grown to 70 employees and 25,440 members at 1 location. Direct Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership in Direct Federal is open to those who live, work, worship, attend school, or regular conduct business in the Massachusetts counties of Middlesex or Norfolk. Immediate family members of those eligible to join also qualify for membership.
See current membership details

Reviews (1)

Absolutely Unusable

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.



Health
B+

Health Grade Components

Overall
NCUA #9071
Year Chartered1953
Employees70
Primary Regulator
Profit Margin
Return on Assets - YTD-0.16%
Return on Equity - YTD-1.52%
Annual Interest Income$18.7MM
Assets and Liabilities
AssetsQ2 2024vs Q2 2023$824.4MM$834.1MM
LoansQ2 2024vs Q2 2023$715.7MM$729.1MM
DepositsQ2 2024vs Q2 2023$606.4MM$639.5MM
Equity CapitalQ2 2024vs Q2 2023$90.4MM$90.8MM
Loan Loss AllowanceQ2 2024vs Q2 2023$4.4MM$4.6MM
Unbacked Noncurrent LoansQ2 2024vs Q2 2023$5MM$5.4MM
Real Estate OwnedQ2 2024vs Q2 2023$276K$276K
Rates

Sorry, we do not have rate data for Direct Federal Credit Union.

Locations


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

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