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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 509th largest credit union in the nation. It was established in 1953 and as of June of 2022, it had grown to 76 employees and 28,421 members at 1 location. Direct Federal Credit Union's money market rates are 2X the national average, and it 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

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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
B+

Data as of Q2 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #9071
Year Chartered1953
Employees76
Primary Regulator
Profit Margin
Return on Assets - YTD0.29%
Return on Equity - YTD2.46%
Annual Interest Income$10.6MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$806.7MM$737.2MM
LoansQ2 2022vs Q2 2021$698.8MM$586.7MM
DepositsQ2 2022vs Q2 2021$626.9MM$602.6MM
Equity CapitalQ2 2022vs Q2 2021$90.4MM$91.8MM
Loan Loss AllowanceQ2 2022vs Q2 2021$3.6MM$4.0MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$4.1MM$4.7MM
Real Estate OwnedQ2 2022vs Q2 2021$0$276.00K
Rates
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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
1.00%$25k-Premium Money Market - New Money
0.85%$25k-Business Premier Money Market

Direct Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.05%$100k-60 Month Jumbo CD
3.05%$250-Business 60 Month Jumbo CD
3.00%$250-60 Month CD
3.00%$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-30 Month Jumbo CD
2.80%$250-Business 30 Month Jumbo CD
2.75%$250-30 Month CD
2.75%$250-Business 30 Month CD
1.25%$250-16 Month Rate Riser CD
1.05%$100k-18 Month Jumbo CD
1.05%$100k-21 Month Jumbo CD
1.05%$250-Business 18 Month Jumbo CD
1.05%$250-Business 21 Month Jumbo CD
1.00%$250-18 Month CD
1.00%$250-21 Month CD
1.00%$250-Business 18 Month CD
1.00%$250-Business 21 Month CD
0.90%$100k-12 Month Jumbo CD
0.90%$100k-15 Month Jumbo CD
0.90%$100k-Business 15 Month Jumbo CD
0.90%$250-Business 12 Month Jumbo CD
0.85%$250-12 Month CD
0.85%$250-15 Month CD
0.85%$250-Business 15 Month CD
0.85%$250-Business 12 Month CD
0.75%$250-8 Month Rate Riser CD
0.50%$100k-6 Month Jumbo CD
0.50%$100k-9 Month Jumbo CD
0.50%$100k-Business 6 Month Jumbo CD
0.50%$250-Business 9 Month Jumbo CD
0.45%$250-6 Month CD
0.45%$250-9 Month CD
0.45%$250-Business 6 Month CD
0.45%$250-Business 9 Month CD
0.40%$100k-3 Month Jumbo CD
0.40%$100k-Business 3 Month Jumbo CD
0.35%$250-3 Month CD
0.35%$250-Business 3 Month CD

Direct Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.05%$100k-60 Month Jumbo IRA
3.00%$250-60 Month IRA
2.90%$100k-48 Month Jumbo IRA
2.85%$250-48 Month IRA
2.80%$100k-30 Month Jumbo IRA
2.75%$250-30 Month IRA
1.05%$100k-18 Month Jumbo IRA
1.05%$100k-21 Month Jumbo IRA
1.00%$250-18 Month IRA
1.00%$250-21 Month IRA
0.90%$100k-12 Month Jumbo IRA
0.90%$100k-15 Month Jumbo IRA
0.85%$250-12 Month IRA
0.85%$250-15 Month IRA
0.56%$50-24 Month Variable IRA
0.50%$100k-6 Month Jumbo IRA
0.50%$100k-9 Month Jumbo IRA
0.45%$250-6 Month IRA
0.45%$250-9 Month IRA
0.40%$100k-3 Month Jumbo IRA
0.35%$250-3 Month IRA
Locations


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

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