Dover Federal Credit Union is headquartered in Dover and is the 2nd largest credit union in the state of Delaware. It is also the 605th largest credit union in the nation. It was established in 1958 and as of September of 2019, it had grown to 123 employees and 41,582 members at 8 locations. Dover Federal Credit Union's CD rates are 2X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Dover Federal Credit Union is open to anyone by joining the Friends of Bombay Hook. Membership is also open to military personnel of the U.S. government with duty location in Delaware, employees of Dover Air Force Base, Bayhealth, Dover Downs and over 400 Business Partners.
See current membership details
Related Posts
5/16 - Dover Federal Credit Union Adds Kasasa Cash, 3.25% APY Up To $30k
New Customer
Was a breeze to open. Only drawback was you have to join Bombay for a one time donation of $15 since out of state. Worth it for the 3.25% return on you money. Just run 12 debits a month pin or non-pin with no dollar limit and elect E statements. Did application online the night before and next day I was set. They give 1st month interest free since you wait 7-14 days for your debit card. Will keep you posted of any problems.
Great Customer service and great prices.
I really like this credit union. They have great customer service, I am always able to reach someone on the phone instead of having to go through 15 minutes of automated messages just to reach customer service. Their checking has no monthly fees. They only require 5 dollars to open a savings. There are a few things that bother me though. You can't deposit cash on the weekends after noon. Also, their direct deposits sometimes don't come through on fridays and not at all on the weekends. Their website is easy to use but doesn't have a whole lot of features like some other credit unions. They have a somewhat lower overdraft fee than most credit unions. They have low atms fees and most atms are free. Overall I think this is a great option, just a few minor issues.
Good Customer Service
This credit union has great employees that are always willing to help you, even if you have multiple questions regarding your accounts, and do a good job of keeping the line moving quickly. There is never a long wait when contacting them by telephone. The minimums for saving and checking are very low and just one reason a credit union is better than a traditional bank. They don't hesitate to contact you to ensure that any out of the ordinary activity is yours. They have proactively contacted me multiple times regarding unusual transactions and have stopped a transaction that wasn't mine, which I was very thankful for. Adding a checking account after having a savings account with them was pleasant, simple and done within 10 minutes.
Really Horrible Experience
As some (if not most) have already said the experience dealing with them is slow torture, apparently dealing with a bunch of incompetent people. Two weeks I was told that they had mailed me the debit card, and when I called last week (as I haven't received the card) they told me I have to reapply. And yes, there is zero communication from them, even if you sent a message. Not worth the hassle. The fact that you have to join an external organization (that apparently is a customer of theirs) in order to qualify is also questionable on its own (some may liken this to bribery or extortion in order to do business). So until they fix their overall service, do not bother with them as they cannot handle your business.
Data as of Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 12443 |
| Year Chartered | 1958 |
| Employees | 123 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.3% |
| Return on Equity - YTD | 3.46% |
| Annual Interest Income | $14.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $473.8MM$450.4MM |
| Loans | Q3 2019vs Q3 2018 | $297.2MM$294.7MM |
| Deposits | Q3 2019vs Q3 2018 | $430.0MM$411.4MM |
| Equity Capital | Q3 2019vs Q3 2018 | $40.1MM$35.6MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $4.4MM$5.3MM |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $2.7MM$4.4MM |
| Real Estate Owned | Q3 2019vs Q3 2018 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Dover 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.
Dover Federal Credit Union Savings Account Rates
Dover Federal Credit Union Money Market Rates
Dover Federal Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 3.25%* | - | $30k | Kasasa Cash | ||
| OTHER TIERS: 0.25% → $30k+ | |||||
| 0.05% | $500 | - | Checking Account | ||
Dover Federal Credit Union CD Rates
Dover Federal Credit Union IRA Rates
| Dover Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 225 Saulsbury Rd | Dover, DE 19904-2720 |
| Branch Office | 255 N DuPont Hwy | Dover, DE 19901-7509 |
| Branch Office | 418 Atlantic Street | Dover Air Force Base, DE 19902 |
| Branch Office | 643 N DuPont Blvd | Milford, DE 19963-1098 |
| Branch Office | 499 Pulaski Hwy | New Castle, DE 19720 |
| Branch Office | 1075 Silver Lake Blvd | Dover, DE 19904-2411 |
| Branch Office | 436 W Glenwood Ave | Smyrna, DE 19977-1006 |
| Branch Office | 330 Dove Run Centre Dr | Middletown, DE 19709 |