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 618th largest credit union in the nation. It was established in 1958 and as of June of 2019, it had grown to 121 employees and 41,407 members at 8 locations. Dover Federal Credit Union's CD rates are 2X the national average, and it 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

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.

Horrible Set Up Experience

Posted by: vr | Oct 7, 2019

O.M.G. Have opened numerous accounts online before, nothing compares with the slow torture of Dover. Initial setup was glitchy and hard to correct, both because takes awhile to get a real person, and one glitch follows another. Other openings elsewhere took maybe 5 minutes vs 10 days. Then... Trying to link to an external account? Plan to get an email telling you to enter test deposits with no instructions on WHERE on their website to verify, and neither I nor 3 reps could find it. Everything from the online experience to ability of reps to help has my wanting to stick a fork in my eye.

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Health
B+

Health Grade Components

Overall
NCUA #12443
Year Chartered1958
Employees121
Primary Regulator
Profit Margin
Return on Assets - YTD0.31%
Return on Equity - YTD3.61%
Annual Interest Income$9.3MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$461.6MM$463.2MM
LoansQ2 2019vs Q2 2018$293.4MM$286.7MM
DepositsQ2 2019vs Q2 2018$428.1MM$424.2MM
Equity CapitalQ2 2019vs Q2 2018$39.6MM$35.6MM
Loan Loss AllowanceQ2 2019vs Q2 2018$4.6MM$5.4MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$2.7MM$3.4MM
Real Estate OwnedQ2 2019vs Q2 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
2.90%*$100k*-5 Year Share Certificate
OTHER TIERS: 2.70% $500 - $25k | 2.80% $25k - $100k
2.76%*$100k*-4 Year Share Certificate
OTHER TIERS: 2.55% $500 - $25k | 2.65% $25k - $100k
2.60%*$100k*-3 Year Share Certificate
OTHER TIERS: 2.40% $500 - $25k | 2.50% $25k - $100k
2.45%*$100k*-2 Year Share Certificate
OTHER TIERS: 2.30% $500 - $25k | 2.38% $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
2.90%*$100k*-5 Year IRA Share Certificate
OTHER TIERS: 2.70% $500 - $25k | 2.80% $25k - $100k
2.76%*$100k*-4 Year IRA Share Certificate
OTHER TIERS: 2.55% $500 - $25k | 2.65% $25k - $100k
2.60%*$100k*-3 Year IRA Share Certificate
OTHER TIERS: 2.40% $500 - $25k | 2.50% $25k - $100k
2.45%*$100k*-2 Year IRA Share Certificate
OTHER TIERS: 2.30% $500 - $25k | 2.38% $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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