Direct FCU (MA) Ups Rate On 15-Month CD and Jumbo CD


Availability: Residents of Norfolk County, Massachusetts

Direct Federal Credit Union (Direct Federal) raised the rates on its 15-month CD (1.50% APY) and 15-month Jumbo CO (1.55% APY). The APY for the 15-month CD is the highest rate since February 2011, with ten rate changes (ranging from 0.35% APY to the current 1.50% APY) occurring between February 2011 and now.

1.15%$100k-Direct Federal Credit Union15 Month Jumbo CD
1.10%$250$100kDirect Federal Credit Union15 Month IRA
1.10%$250-Direct Federal Credit Union15 Month CD
Accounts mentioned in this post. Rates as of January 21, 2017.

The minimum opening deposit for the 15-month CD is $250, and $100K for the 15-month Jumbo CD; there is no maximum balance cap for either CD.

The 15-month CD is available as an IRA (Traditional) at the same APY, but there is a $100K balance cap.

As stated on Direct Federal’s Certificate Account Application, the Early Withdrawal Penalty reads as follows:

If the term is one year or more, the member shall forfeit an amount equal to 90 days of dividends on the entire principal balance.


Headquartered in Needham, Massachusetts, Direct Federal Credit Union’s membership eligibility is based on residency or relationship.

Residency: Individuals who live, work, worship, or attend school in Norfolk County, Massachusetts are eligible for membership.

Relationship: Immediate family members of current Direct Federal members are eligible for membership, as are immediate family members of those who live, work, worship, or attend school in Norfolk County.

Immediate family members are defined as spouse, child, parent, sibling, grandparent, grandchild, stepmother, stepfather, stepchild, stepsister and stepbrother.

Joining Direct Federal Credit Union and/or opening a CD can be done at the sole branch located on Cabot Street in Needham, or by downloading the Account Application and returning it by mail.

Credit Union Overview

Direct Federal Credit Union has an overall health grade of "B+" at, with a Texas ratio of 3.33% (excellent) based on March 31, 2015 data. Direct Federal has an excellent capitalization level of 17.90%, a result of holding $422.58 Million in assets, with $75.63 Million in equity. Please refer to our financial overview of Direct Federal Credit Union for more details.

Founded in 1953, Direct Federal Credit Union (NCUA Charter # 9071) has been an active participant in the community, not only upholding their mission statement of "banking at the rate of life, through compelling rates, remarkable service, and immediate access," but by providing support to various local charitable organizations. In the past few years, Direct Federal has:

  • expanded its "Young Women Leaders of Tomorrow" program to include 31 area high schools and $93,000 in scholarships;
  • sponsored a book drive in conjunction with the Massachusetts Coalition for the Homeless and the Community Hope Initiative, to help children of all ages gain knowledge and succeed in school through reading; and
  • as the lead sponsor, donated $10,000 to Three Squares New England’s 4th Annual Ride for Food. The ride benefits local food pantries and hunger initiatives in Cambridge, Dedham, Jamaica Plain, Natick, Needham, Wellesley and Westwood.

How the CDs Compare

When compared to the 273 similar length-of-term CDs tracked by available to Massachusetts residents, Direct Federal Credit Union's 15-Month Jumbo CD and 15-Month CD currently rank second and fourth respectively, regardless of minimum deposit.

The above rates are accurate as of 8/25/2015.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.