Direct Federal Credit Union
Headquarters
50 Cabot St, Po Box 9123
Needham, MA 02494
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2024 Overview
General Credit Union Information
Direct is an NCUA insured institution located in Needham, MA. It was founded in 1953 and has approximately $824.38 millions in assets.
Who can join?
There are three ways to be eligible:
You live, work, worship, volunteer or go to school in Norfolk County, MA.
You are a family member of an existing Direct Federal member.
You have an immediate family member who lives, works, worships, volunteers or goes to school in Norfolk County, MA. Immediate family member includes a spouse, child, sibling, parent, grandparent, grandchild, or household member.
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 9071 |
| Date Established | 1953 |
| Assets | $824.38 million |
| Loans | $715.71 million |
| Deposits | $606.44 million |
| Capital | $95.00 million |
Field of Membership Restrictions
Membership is open to those who live, work, attend school or worship in Norfolk County in Massachusetts.
Deposit Rates - November 17, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings
|
0.10% | $5 | - |
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|
|
Money Market
|
0.35% | $500 | $24,999 |
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|
|
Money Market
|
0.35% | $25,000 | $49,999 |
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|
|
Money Market
|
0.55% | $50,000 | $74,999 |
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|
|
Money Market
|
1.00% | $75,000 | $99,999 |
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|
|
Money Market
|
0.75% | $100,000 | $199,999 |
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|
|
Money Market
|
1.10% | $200,000 | - |
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|
|
Premium Money Market Account
|
3.25% | $25,000 | - |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 5 Month
|
5.00% | $250 | - |
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|
| 5 Month Jumbo
|
5.05% | $100,000 | - |
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|
| 6 Month
|
5.50% | $250 | - |
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|
| 6 Month Jumbo
|
5.55% | $100,000 | - |
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|
| 9 Month
|
5.00% | $250 | - |
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|
| 9 Month Jumbo
|
5.05% | $100,000 | - |
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|
| 12 Month
|
3.00% | $250 | - |
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|
| 12 Month Jumbo
|
3.06% | $100,000 | - |
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|
| 15 Month
|
3.00% | $250 | - |
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|
| 15 Month Jumbo
|
3.06% | $100,000 | - |
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|
| 24 Month
|
3.50% | $250 | - |
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|
| 24 Month Jumbo
|
3.55% | $100,000 | - |
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|
| 36 Month
|
4.00% | $250 | - |
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|
| 36 Month Jumbo
|
4.05% | $100,000 | - |
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|
| 48 Month
|
4.00% | $250 | - |
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|
| 48 Month Jumbo
|
4.05% | $100,000 | - |
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|
| 60 Month
|
4.25% | $250 | - |
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|
| 60 Month Jumbo
|
4.30% | $100,000 | - |
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|
Loan Rates - November 17, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Direct
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 1835285 |
6.494% | 6.375% | 0.75 | $4,000 | $1,997 | Learn More |
NMLS ID: 1025894 |
6.868% | 6.750% | 1.00 | $3,884 | $2,076 | Learn More |
NMLS ID: 1907 |
7.181% | 7.125% | 0.63 | $1,802 | $2,156 | Learn More |
NMLS ID: 3030 |
7.225% | 7.125% | 1.00 | $3,200 | $2,156 | Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
Intro APR 7.490 % After Intro: 7.490 % |
$0 |
Learn More
More Info |
Note to Direct
To upload and update your bank's rates please register.
It is free to register and add rates.
Branches
Below are Direct branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Direct Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 644.84 | A | View Lobby Hours |
Climate Policy and Initiatives
DIRECT is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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Financial Details
Direct Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Direct. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Direct | U.S. Average |
|---|---|
| 4.23% | 5.83 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of June 30, 2024, Direct had $3,839,766 in non-current loans and $340,149 in owned assets. To cover these potential losses it had $95,004,506 in net worth and $3,905,115 in loans loss reserves. That gives it a Texas Ratio of 4.23%.
Net Worth
| Direct | U.S. Average |
|---|---|
| 11.51% | 13.93% |
Direct FCU has a net worth of 11.51% versus the BestCashCow average of 13.93. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Direct
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