Dover Federal Credit Union is headquartered in Dover and is the 2nd largest credit union in the state of Delaware. It is also the 613th largest credit union in the nation. It was established in 1958 and as of June of 2022, it had grown to 125 employees and 44,043 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
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.
Dover Credit
I filled out a form to apply for the credit card because of its low APR. After filling it out, they sent me an email that it was pre-approved. Then they did a Hard Inquiry and sent me a congratulations email. It seems absurd to me that after they pre-approve the application, and they do the Hard Inquiry, they force me to open an account and see if I can be a member to continue with the process and since I refused, they sent me a letter saying that I had been denied. I think that this way of getting clients is Not professional. They must first ask if I want to have an account with them before making the Hard inquiry. Grateful for denying me the card, so I have less expenses
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 12443 |
| Year Chartered | 1958 |
| Employees | 125 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.62% |
| Return on Equity - YTD | 8.68% |
| Annual Interest Income | $10.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $626.9MM$596.5MM |
| Loans | Q2 2022vs Q2 2021 | $476.5MM$431.7MM |
| Deposits | Q2 2022vs Q2 2021 | $579.1MM$548.7MM |
| Equity Capital | Q2 2022vs Q2 2021 | $44.5MM$44.2MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $3.0MM$4.0MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $2.0MM$1.6MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |