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 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

Dover Federal Credit Union 5-Year CD Earns Up To 2.90% APY - 10/17/2019

Dover Federal Credit Union (easy membership requirement) long-term CDs offer competitive rates: 3-year (2.60% APY), 4-year (2.76% APY), 5-year (2.90% APY), $100k min.

Dover Federal Credit Union Adds Kasasa Cash, 3.25% APY Up To $30k - 5/16/2019

Dover Federal Credit Union (easy membership) has added a Kasasa Cash account, earning 3.25% APY on qualifying balances up to $30k. No minimum opening deposit.

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New Customer

Posted by: renatl | Nov 1, 2019

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.

Posted by: jodyboyle | Dec 24, 2017

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

Posted by: chris100 | Dec 31, 2019

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.

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Health

Health Grade Components

Overall
NCUA #12443
Year Chartered1958
Employees123
Primary Regulator
Profit Margin
Return on Assets - YTD0.3%
Return on Equity - YTD3.46%
Annual Interest Income$14.0MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$473.8MM$450.4MM
LoansQ3 2019vs Q3 2018$297.2MM$294.7MM
DepositsQ3 2019vs Q3 2018$430.0MM$411.4MM
Equity CapitalQ3 2019vs Q3 2018$40.1MM$35.6MM
Loan Loss AllowanceQ3 2019vs Q3 2018$4.4MM$5.3MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$2.7MM$4.4MM
Real Estate OwnedQ3 2019vs Q3 2018$0$0
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
2.00%-$20kKasasa Saver
0.25%*$100k*-Super Saver Shares
OTHER TIERS: 0.13% Up to $25k | 0.20% $25k - $100k
0.20%*$100k*-Share Savings
OTHER TIERS: 0.10% Up to $25k | 0.15% $25k - $100k
0.20%*$100k*-Christmas Club
OTHER TIERS: 0.10% Up to $25k | 0.15% $25k - $100k
0.20%*$100k*-Kids Making Cents Club
OTHER TIERS: 0.10% Up to $25k | 0.15% $25k - $100k
0.20%*$100k*-#MyCash
OTHER TIERS: 0.10% Up to $25k | 0.15% $25k - $100k
0.20%*$100k*-IRA Share Savings
OTHER TIERS: 0.10% Up to $25k | 0.15% $25k - $100k
0.05%$100-Business Share Savings

Dover Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$250k*-Money Market Account
OTHER TIERS: 0.25% $1k - $10k | 0.30% $10k - $50k | 0.35% $50k - $100k | 0.40% $100k - $250k
0.20%*$100k*-Business Money Market
OTHER TIERS: 0.08% $1k - $50k | 0.10% $50k - $100k

Dover Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.25%*-$30kKasasa Cash
OTHER TIERS: 0.25% $30k+
0.05%$500-Checking Account

Dover Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.53%*$100k*-5 Year Share Certificate
OTHER TIERS: 2.43% $500 - $25k | 2.48% $25k - $100k
2.38%*$100k*-4 Year Share Certificate
OTHER TIERS: 2.27% $500 - $25k | 2.32% $25k - $100k
2.32%*$100k*-3 Year Share Certificate
OTHER TIERS: 2.22% $500 - $25k | 2.27% $25k - $100k
2.27%*$100k*-2 Year Share Certificate
OTHER TIERS: 2.17% $500 - $25k | 2.22% $25k - $100k
1.85%*$100k*-1 Year Share Certificate
OTHER TIERS: 1.75% $500 - $25k | 1.80% $25k - $100k
0.85%*$100k*-30 Month Share Certificate
OTHER TIERS: 0.65% $500 - $25k | 0.75% $25k - $100k
0.65%*$100k*-18 Month Share Certificate
OTHER TIERS: 0.45% $500 - $25k | 0.55% $25k - $100k
0.65%$500-Business 36-Month Share Certificate
0.40%$500-Business 24 Month Share Certificate
0.35%*$100k*-6-Month Share Certificate
OTHER TIERS: 0.15% $500 - $25k | 0.25% $25k - $100k
0.25%$500-Business 12 Month Share Certificate

Dover Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.53%*$100k*-5 Year IRA Share Certificate
OTHER TIERS: 2.43% $500 - $25k | 2.48% $25k - $100k
2.38%*$100k*-4 Year IRA Share Certificate
OTHER TIERS: 2.27% $500 - $25k | 2.32% $25k - $100k
2.32%*$100k*-3 Year IRA Share Certificate
OTHER TIERS: 2.22% $500 - $25k | 2.27% $25k - $100k
2.27%*$100k*-2 Year IRA Share Certificate
OTHER TIERS: 2.17% $500 - $25k | 2.22% $25k - $100k
1.85%*$100k*-1 Year IRA Share Certificate
OTHER TIERS: 1.75% $500 - $25k | 1.80% $25k - $100k
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

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