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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 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.

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.

2

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 !

2


Health
A

Data as of Q3 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #9071
Year Chartered1953
Employees76
Primary Regulator
Profit Margin
Return on Assets - YTD0.23%
Return on Equity - YTD2.14%
Annual Interest Income$17.2MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$824.5MM$720.5MM
LoansQ3 2022vs Q3 2021$711.2MM$581.1MM
DepositsQ3 2022vs Q3 2021$634.2MM$581.7MM
Equity CapitalQ3 2022vs Q3 2021$89.5MM$92.9MM
Loan Loss AllowanceQ3 2022vs Q3 2021$3.7MM$3.8MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$3.2MM$4.0MM
Real Estate OwnedQ3 2022vs Q3 2021$0$276.00K
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
2.25%$25k-Premium Money Market - New Money
1.10%*$200k*-Standard Money Market
OTHER TIERS: 0.35% → Up to $50k | 0.55% → $50k - $75k | 0.75% → $75k - $100k | 1.00% → $100k - $200k

Direct Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.80%$100k-15 Month Jumbo CD Special - New Money
3.75%$250-15 Month CD Special - New Money
3.30%$100k-60 Month Jumbo CD
3.30%$100k-7 Month Jumbo CD Special - New Money
3.30%$250-Business 60 Month Jumbo CD
3.25%$250-60 Month CD
3.25%$250-7 Month CD Special - New Money
3.25%$250-Business 60 Month CD
2.90%$100k-48 Month Jumbo CD
2.90%$250-Business 48 Month Jumbo CD
2.85%$250-48 Month CD
2.85%$250-Business 48 Month CD
2.80%$100k-18 Month Jumbo CD
2.80%$100k-21 Month Jumbo CD
2.80%$100k-30 Month Jumbo CD
2.80%$250-Business 18 Month Jumbo CD
2.80%$250-Business 21 Month Jumbo CD
2.80%$250-Business 30 Month Jumbo CD
2.75%$250-18 Month CD
2.75%$250-30 Month CD
2.75%$250-21 Month CD
2.75%$250-Business 18 Month CD
2.75%$250-Business 21 Month CD
2.75%$250-Business 30 Month CD
2.30%$100k-12 Month Jumbo CD
2.30%$100k-Business 15 Month Jumbo CD
2.30%$250-Business 12 Month Jumbo CD
2.25%$250-12 Month CD
2.25%$250-Business 15 Month CD
2.25%$250-Business 12 Month CD
1.50%$250-16 Month Rate Riser CD
1.05%$100k-9 Month Jumbo CD
1.05%$250-Business 9 Month Jumbo CD
1.00%$250-9 Month CD
1.00%$250-8 Month Rate Riser CD
1.00%$250-Business 9 Month CD
0.80%$100k-6 Month Jumbo CD
0.80%$100k-Business 6 Month Jumbo CD
0.75%$250-6 Month CD
0.75%$250-Business 6 Month CD
0.55%$100k-3 Month Jumbo CD
0.55%$100k-Business 3 Month Jumbo CD
0.50%$250-3 Month CD
0.50%$250-Business 3 Month CD

Direct Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.80%$100k-15 Month Jumbo IRA Special
3.75%$250-15 Month IRA Special
3.30%$100k-60 Month Jumbo IRA
3.30%$100k-7 Month Jumbo IRA Special
3.25%$250-60 Month IRA
3.25%$250-7 Month IRA Special
2.90%$100k-48 Month Jumbo IRA
2.85%$250-48 Month IRA
2.80%$100k-18 Month Jumbo IRA
2.80%$100k-21 Month Jumbo IRA
2.80%$100k-30 Month Jumbo IRA
2.75%$250-18 Month IRA
2.75%$250-30 Month IRA
2.75%$250-21 Month IRA
2.30%$100k-12 Month Jumbo IRA
2.25%$250-12 Month IRA
1.88%$50-24 Month Variable IRA
1.05%$100k-9 Month Jumbo IRA
1.00%$250-9 Month IRA
0.80%$100k-6 Month Jumbo IRA
0.75%$250-6 Month IRA
0.55%$100k-3 Month Jumbo IRA
0.50%$250-3 Month IRA
Locations


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

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