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 17th largest credit union in the state of Massachusetts. It is also the 536th largest credit union in the nation. It was established in 1953 and as of December of 2024, it had grown to 69 employees and 24,378 members at 1 location. Direct Federal Credit Union has an A 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

Health Grade Components

Overall
NCUA #9071
Year Chartered1953
Employees69
Primary Regulator
Profit Margin
Return on Assets - YTD-0.42%
Return on Equity - YTD-3.85%
Annual Interest Income$37.4MM
Assets and Liabilities
AssetsQ4 2024vs Q4 2023$805.4MM$835.8MM
LoansQ4 2024vs Q4 2023$697.2MM$727.7MM
DepositsQ4 2024vs Q4 2023$602.3MM$614.6MM
Equity CapitalQ4 2024vs Q4 2023$88.3MM$90.9MM
Loan Loss AllowanceQ4 2024vs Q4 2023$5.7MM$4.8MM
Unbacked Noncurrent LoansQ4 2024vs Q4 2023$3.8MM$7.3MM
Real Estate OwnedQ4 2024vs Q4 2023$276K$276K
Rates

Rates for Direct Federal Credit Union are currently being reviewed.

Locations


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

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