Dover Federal Credit Union


Overview / Commentary
302-678-8000
1075 Silver Lake Blvd
Dover, DE 19904-2411

Dover Federal Credit Union is headquartered in Dover and is the 2nd largest credit union in the state of Delaware. It is also the 594th largest credit union in the nation. It was established in 1958 and as of December of 2020, it had grown to 111 employees and 42,330 members at 9 locations. Dover Federal Credit Union has a B+ 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

New Customer - 5 Stars!

I opened up a checking account this morning online, I was shocked at how easy the process was and customer service walked me through each and every step of the way,
There is no long wait time to speak to a customer service representative which I absolutely love. The minimum balance to open online was $5.oo which was even better, The lady I spoke to was really polite and professional considering all the questions and concerns I had. She just really made the process easy and simple. I could not be more pleased at that. Also, all the bank locations are extremely convenient and local. I recommend them!

New Customer

Posted by: |

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.

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.

Terrible Expereince

Tried to open a checking acct online and after applying the process said a cust service rep would contact me in 24-48 hrs. 3 days later still no contact, tried to call and kept getting a BUSY SIGNAL, finally got through and was placed on hold as the 37th customer in the que! I sent them a message to cancel my app as I already had enough of this joke of a credit union before I ever actually opened an account.

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Health
B+

Health Grade Components

Overall
NCUA #12443
Year Chartered1958
Employees111
Primary Regulator
Profit Margin
Return on Assets - YTD0.24%
Return on Equity - YTD3.17%
Annual Interest Income$19.8MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$572.9MM$486.6MM
LoansQ4 2020vs Q4 2019$409.4MM$339.9MM
DepositsQ4 2020vs Q4 2019$528.7MM$442.5MM
Equity CapitalQ4 2020vs Q4 2019$42.5MM$40.5MM
Loan Loss AllowanceQ4 2020vs Q4 2019$4.3MM$3.5MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$3.1MM$1.8MM
Real Estate OwnedQ4 2020vs Q4 2019$334.00K$159.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%-$20kKasasa Saver
0.01%--Share Savings
0.01%--Christmas Club
0.01%--Kids Making Cents Club
0.01%--#MyCash
0.01%--IRA Share Savings
0.01%--Super Saver Shares
0.01%$100-Business Share Savings

Dover Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%*$100k*-Business Money Market
OTHER TIERS: 0.01% $1k - $100k
0.01%$1k-Money Market Account

Dover Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$500-Checking Account
0.05%--Kasasa Cash

Dover Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$500-Business 60 Month Share Certificate
0.25%$500-5 Year Share Certificate
0.20%$500-4 Year Share Certificate
0.15%$500-3 Year Share Certificate
0.10%$500-1 Year Share Certificate
0.10%$500-2 Year Share Certificate
0.05%$500-6-Month Share Certificate
0.05%$500-Business 12 Month Share Certificate
0.05%$500-Business 24 Month Share Certificate
0.05%$500-Business 36-Month Share Certificate
0.05%$500-Business 48 Month Share Certificate
0.01%$500-18 Month Share Certificate
0.01%$500-30 Month Share Certificate

Dover Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$500-5 Year IRA Share Certificate
0.20%$500-4 Year IRA Share Certificate
0.15%$500-3 Year IRA Share Certificate
0.10%$500-1 Year IRA Share Certificate
0.10%$500-2 Year IRA Share Certificate
Locations


Dover Federal Credit Union Locations
Branch Office225 Saulsbury RdDover, DE 19904-2720
Branch Office255 N DuPont HwyDover, DE 19901-7509
Branch Office418 Atlantic StreetDover Air Force Base, DE 19902
Branch Office643 N DuPont BlvdMilford, DE 19963-1098
Branch Office499 Pulaski HwyNew Castle, DE 19720
Branch Office1075 Silver Lake BlvdDover, DE 19904-2411
Branch Office436 W Glenwood AveSmyrna, DE 19977-1006
Branch Office330 Dove Run Centre DrMiddletown, DE 19709
Branch Office499 Walmart DriveCamden, DE 19934

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