Direct Federal Credit Union is headquartered in Needham and is the 17th largest credit union in the state of Massachusetts. It is also the 506th largest credit union in the nation. It was established in 1953 and as of September of 2022, it had grown to 76 employees and 27,865 members at 1 location. Direct Federal Credit Union's money market rates are 5X the national average, and it has an A health rating.
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
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.
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 !
Overall | |
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NCUA # | 9071 |
Year Chartered | 1953 |
Employees | 76 |
Primary Regulator |
Profit Margin | |
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Return on Assets - YTD | 0.23% |
Return on Equity - YTD | 2.14% |
Annual Interest Income | $17.2MM |
Assets and Liabilities | ||
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Assets | Q3 2022vs Q3 2021 | $824.5MM$720.5MM |
Loans | Q3 2022vs Q3 2021 | $711.2MM$581.1MM |
Deposits | Q3 2022vs Q3 2021 | $634.2MM$581.7MM |
Equity Capital | Q3 2022vs Q3 2021 | $89.5MM$92.9MM |
Loan Loss Allowance | Q3 2022vs Q3 2021 | $3.7MM$3.8MM |
Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $3.2MM$4.0MM |
Real Estate Owned | Q3 2022vs Q3 2021 | $0$276.00K |
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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.10% | $5 | - | Savings Account |
Direct Federal Credit Union Locations | ||
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Branch Office | 50 Cabot St | Needham, MA 02494 |