Direct Federal Credit Union

Overview / Commentary
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 512th largest credit union in the nation. It was established in 1953 and as of June of 2021, it had grown to 73 employees and 30,747 members at 1 location. Direct Federal Credit Union has a B+ 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

Reviews (2)

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.

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 !


Health Grade Components

NCUA #9071
Year Chartered1953
Primary Regulator
Profit Margin
Return on Assets - YTD0.53%
Return on Equity - YTD4.3%
Annual Interest Income$10.3MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$737.2MM$783.5MM
LoansQ2 2021vs Q2 2020$586.7MM$653.4MM
DepositsQ2 2021vs Q2 2020$602.6MM$628.0MM
Equity CapitalQ2 2021vs Q2 2020$91.8MM$89.7MM
Loan Loss AllowanceQ2 2021vs Q2 2020$4.0MM$3.2MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$4.7MM$4.5MM
Real Estate OwnedQ2 2021vs Q2 2020$276.00K$276.00K
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* 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

0.10%$5-Savings Account

Direct Federal Credit Union Money Market Rates

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

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

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

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

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