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 590th largest credit union in the nation. It was established in 1958 and as of March of 2020, it had grown to 131 employees and 42,100 members at 8 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

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.

Great Customer service and great prices.

Posted by: |

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.

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
Employees131
Primary Regulator
Profit Margin
Return on Assets - YTD0.09%
Return on Equity - YTD1.06%
Annual Interest Income$4.9MM
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$512.5MM$462.6MM
LoansQ1 2020vs Q1 2019$345.1MM$289.1MM
DepositsQ1 2020vs Q1 2019$467.7MM$430.7MM
Equity CapitalQ1 2020vs Q1 2019$41.3MM$38.2MM
Loan Loss AllowanceQ1 2020vs Q1 2019$3.7MM$4.7MM
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$2.7MM$2.9MM
Real Estate OwnedQ1 2020vs Q1 2019$53.00K$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
0.10%-$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
0.01%$1k-Money Market Account
0.01%$1k-Business Money Market

Dover Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*-$30kKasasa Cash
OTHER TIERS: 0.05% $30k+
0.01%$500-Checking Account

Dover Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%$500-5 Year Share Certificate
0.25%$500-4 Year Share Certificate
0.20%$500-3 Year Share Certificate
0.15%$500-2 Year Share Certificate
0.10%$500-1 Year 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
0.01%$500-6-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
0.30%$500-5 Year IRA Share Certificate
0.25%$500-4 Year IRA Share Certificate
0.20%$500-3 Year IRA Share Certificate
0.15%$500-2 Year IRA Share Certificate
0.10%$500-1 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

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