Digital Federal Credit Union

Digital Federal Credit Union Reviews

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About Digital Federal Credit Union

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Digital Federal Credit Union (DCU) is a not-for-profit financial institution that offers a broad range of financial products and services to its members. At DCU, members can open up checking and savings accounts and certificates of deposit (CDs) and apply for loans and credit cards. While the main credit union branches are located in Massachusetts and New Hampshire, membership is possible for most individuals across the country.

Pros & Cons

Pros
  • High savings APY
  • Loan discounts available
Cons
  • No youth/teen savings or checking
  • Limited CD terms

What is Digital Federal Credit Union?

Founded in 1979, DCU has served as the credit union for over 700 companies and organizations, and now provides consumer banking, lending, insurance and real estate services to members throughout the U.S.

It is a widely accessible financial institution with coverage across the country. Members can access over 5,900 branches and more than 80,000 surcharge-free ATMs. While DCU's 23 physical branches are located solely in Massachusetts and New Hampshire, its online and mobile banking platforms provide easy access to financial services regardless of location.

How does Digital Federal Credit Union work?

DCU has established partnerships with numerous participating employers, organizations and associations, making it possible for almost anyone to become a member.

To qualify for membership, individuals must meet one of the following criteria:

  • Be related to a current DCU member, including adoptive, in-law and step relationships
  • Be a resident of or affiliated with select Massachusetts communities
  • Currently work for or have retired from a company on the participating employers list
  • Join one of the participating organizations, some of which are easy to join for a low fee (for example, you can become a member for as little as $10 with Reach Out for Schools, which would then make you eligible)
  • Be related to a non-DCU member who works for or is retired from one of DCU’s partner companies, or who belongs to one of DCU’s partner organizations

Digital Federal Credit Union products

Here are the main savings and checking options available through DCU:

Savings accounts
DCU's primary savings account offers members an opportunity to earn a high annual percentage yield (APY) of up to 6.17% on their first $1,000 as of publication. A minimum balance of $5 is required to maintain membership status, with no monthly fees.

Alternatively, members can opt for the Advantage Savings Account, which has no minimum balance requirement or monthly fees and, as of publication, earns a 2.02% interest rate on the entire account balance.

Checking accounts
DCU provides a free checking account with no minimum balance or monthly maintenance fees.

With direct deposit payments, like your paycheck or Social Security, you can get access to funds up to two days early. Qualifying members can also get up to $300 in annual reimbursements for ATM fees charged by other institutions.

Additionally, members can enjoy a 0.50% rate discount on most DCU consumer loans when they have direct deposit and make their loan payments electronically with their DCU checking account.

Certificates of deposit
There are several different CD offerings to suit your saving needs:
  • Younger members under 23 can benefit from the QuickStart CDs, which require only a minimum deposit of $100.
  • For regular CDs, a minimum deposit of $500 is required, and terms range from three to 60 months.
  • The Jump-Up CD allows members to adjust their rate one time per term, maximizing savings potential if rates go up significantly.
Money market accounts
Money market accounts with DCU have a $0 minimum to open, but you will need at least $1,000 in your account to start earning interest.

Your APY is dependent on how much money you have in your account. For balances between $1,000 and $24,999.99, the APY is 1.46% as of publication.

Digital Federal Credit Union fees

While DCU has minimal fees for its savings and checking accounts, there are some fees on other products and services worth noting, such as:

  • $3 for money orders
  • $15 for nonsufficient funds
  • $10 for debit card replacement
  • $15 to $50 for outgoing wire transfers
  • Up to $35 per month for late payments with Visa credit cards

Digital Federal Credit Union FAQ

What unique services does DCU offer?

In addition to its banking products, DCU also offers members free notary services for executing contracts, wills and other documents in person at all physical branches. Members can also monitor their FICO score for free monthly.

Can DCU cards be added to a digital wallet?

Yes, you can add either your DCU debit card or credit card to Apple Pay, Google Pay or Samsung Pay.

Does DCU offer Zelle?

No, DCU uses the “Pay a Person” feature to make transfers to non-DCU members.

What types of loans does DCU offer?

Members can apply for most types of financing through DCU, including personal loans, student loans and small business loans. Vehicle loans are also available for standard automobiles, vintage autos, motorcycles, boats and more. New mortgages, refinance loans and home equity loans can be secured through DCU’s mortgage center.

Is Digital Federal Credit Union legit?

Digital Federal Credit Union is a legitimate financial institution with over 1 million members across the U.S. It is federally insured by the National Credit Union Administration (NCUA). Even for individuals not near the New England area, membership is available through many other options.

Digital Federal Credit Union Reviews

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    How do I know I can trust these reviews about Digital Federal Credit Union?
    • 4,477,293 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 10
    Staff

    Reviewed June 26, 2024

    My savings account has been "under investigation" for at least 6 months which has left me without access to my money. They are not able to give me any updates or time frame when I contact them and I have been told that department is short-staffed. I would not recommend this credit union. I still do not have access to my savings account.

    Customer ServiceStaff

    Reviewed Oct. 22, 2023

    Horrible bank. I own a business and my atm card keeps getting shut off every weekend and it is the bank's error so I get to spend 2 hours minimum on the phone to get it turned back on. Sometimes long if the totally incompetent staff don’t accidentally hang up on you while trying to transfer your call.

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      Digital Federal Credit Union Company Information

      Company Name:
      Digital Federal Credit Union
      Website:
      www.dcu.org