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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
- High savings APY
- Loan discounts available
- 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
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
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
- 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
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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- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
Digital Federal Credit Union Company Information
- Company Name:
- Digital Federal Credit Union
- Website:
- www.dcu.org
