Direct Federal Credit Union

I’ve been a happy and loyal member of Direct Federal Credit for decades. Even after I moved out of the Boston area to NYC 15 years ago, I continued to use Direct as my financial institution.
A small institution like this should PRIDE themselves on their customer service and do everything they can to KEEP their members. Unfortunately something has changed. Over the last year I have had numerous frustrating issues that have come up and after many phone calls to them trying to solve the issues they’ve basically told me to take a hike. I don’t want to be forced to take all of my money away from them but they’re leaving me few options.
My first issue began with the blanket limit of $ 1,000 per day on my debit card. This has led me to being unable to take out cash that I need or to pay for a cab with my card if I had made a large purchase online that day. Why should I be forced to pay for something on credit and pay for interest when I have plenty of money in my debit/​checking account? The reason they give me is because there could be POTENTIAL fraud without this limit.
Now, yesterday I come to find that my debit card WILL NO LONGER WORK in NYC cabs because the fraud department has changed it so that debit cards will no longer work for transactions unless you can type in your PIN number. This also means I am no longer able to use my debit card at Starbucks for example (which I pretty much do every single day) or any of the numerous other stores and establishments. I just hung up the phone with them trying to solve this issue and they told me that their operations/​fraud department will not change this or adjust it for a user.
So the bottom line here is that Direct Federal Credit has chosen to put their perceived needs before their customers. To inconvenience me and all of their other members because some internet crook or petty thief MIGHT one day try to use my account fraudulently is outrageous. If there is ever fraud then deal with the fraud when it happens. Or maybe invest in better, stronger infrastructure and back end security to keep this possibility from happening. What you should not be doing however is putting the burden of bank fraud on your customers.
Your customer service is now nom-​existent. You offered no solution when I basically told you that you’re forcing me to remove all my money from your institution. I have a feeling I will not be the only one. It would be great if someone at Direct tried to work on a solution for me and the other members instead of simply saying no.

Update: as of July 2014 customers can get free banking if they have direct deposit and e-​statements. I had this all along, so not sure why the change back to no fee. Plus get 10 cents refunded to you per debit transaction. I received $ 2.40 this month; almost half of what I used to pay in fees.
Happy with the «new» fee schedule and always happy with the loan rates so 5 stars for that.
Bummer is that I cannot increase my HELOC. Removing two stars, not because they will not give me more money — that is their prerogative — but for having a policy that does not make customers feel appreciated for years of loyalty and prompt payments and instead puts a negative spin on their achievements. The decision to deny the application was based only one metric — employment of less than two years at current employer. Come on! People change positions. I was feeling great about the new job until I applied for the HELOC increase. I am in the same industry and have never missed or been late in the thirteen years I have banked here. (Over this time I have had two mortgages, two HELOCs, two auto loans now everything is paid off but one mortgage and one HELOC.)
It is time to update the crummy particle board kitchen before it disintegrates and causes leaks and damage to the house. This is both for aesthetics and to protect my investment (in a neighborhood that maintained and grew home values). They should appreciate that, especially as the first leinholder for this property.
Turn me down for bad ratios or bad credit, but not for making a positive change in career growth within the same industry when all other metrics are met.
Don’t most lenders base credit decisions off of years of employment within an industry? That was always the question I was asked when filling out applications. I guess I will find out, because they are pushing me to search elsewhere.

I can’t imagine banking anywhere else– been a member at least 20 yrs and they do not disappoint. They are small enough to care and big enough to not just provide but compete with any of the institutions. The only downside is that I can only deposit at Leader Bank where I live, but one is enough :)

I have been a member for almost 13 years. Just recently my wife and I switched all of our accounts to Direct. While the service and products Direct offers is great, I wish the online banking was better. It seems to be a bit unstable, I would like to see pending POS transactions as part of the online banking experience, There should be a smartphone app (especially for mobile deposits) and better email alerts (i.e. direct deposit was made).

I have been a member for 15 years and I am still always happy with the service and online banking. I have moved out of state and still continue to use for all my main banking and bill pay. If buying a car be sure to take advantage of the ability to get a loan ahead of time and bring check to the dealership, saves you money and is a simple process.

I don’t call the DCU often, once or twice a year at the most, but I am always amazed at the rudeness of the people who answer the phones. There seems to be no management in this department, no courtesy for Union members. Apparently a call bothers them.
When I called them last week — my sole 2012 cal l– I was put on hold for about 15 minutes. Seemed longer but when I was finally connected, I mentioned this to the short-​tempered female who came on the phone. I didn’t know if the wait was caused by a shortage of employees, a flood of calls, or whatever. She informed me in an outraged tone that «many people call». Then she hung up.
I am thinking that this is it. I’m switching to Digital Credit Union.
Good luck to you.

For me buying a car is a pretty stressful ordeal. I am happy to report that financing my vehicle through Direct Federal has been such a delight, I would highly recommend anyone in need of an auto loan to check them out first.
For starters, the rate offered for a used vehicle was 3% less than the rate being offered by the dealership and saving money is wonderful a wonderful thing. The process of obtaining the loan was very simple, I just filled out the application on their website and was notified via email within 20 mins that my loan had been approved.
I realized after speaking with Paula Herendeen, the bank representative, that I would actually need $ 3000 more than I initially requested she graciously assisted me to secure the additional funds. Not only was she extremely accommodating but she personally followed up on the request with the finance department to obtain a response the same day. She was courteous and kind and her professionalism saved me a big hassle.
I am delighted to have found Direct Federal Credit Union for my auto loan. I hope the rest of my car buying process follows the same positivity.

I’ve also been a customer of Direct Federal for years. They’ve been quite good; easy to bank-​by-​mail. They don’t have particularly good investment instruments, but that’s OK. People are friendly.
But I recently opened a small business, and turns out they don’t take checks made out to a business. When I inquired why, they could only tell me it was against their policies. When I wanted to know what such a policy was based on, I couldn’t get any information — when I asked if the restriction was in their charter, and asked if there was a way to read said charter, it was clear that NO one had ever asked such a question before.
So I’ve gone to great lengths to find out, since I am a supporter of the concept of credit unions. But it’s a pain to do all the work for information that it seems to me they should be able to readily share — say, point me to an online version of their policies. Maybe that is still asking a lot of a small place. So if anyone knows about, say, whether Mass. law doesn’t allow it, or if it’s just a choice made by Direct Federal’s management, or if they really allow it but not one has ever questioned it before, whatever — I’d love to know. And if anyone from Direct Federal reads this, please let me know. Thanks!

I simply give 3 stars for the manager, Jeff Shapiro.
Let me explain.
I got a loan for a car a few years ago, and that was hard in itself because I am self employed. Direct Federal accepted me, at a fair rate since I have good credit. I never missed a payment, was never late, never even had to deal with them at all since I had automatic payments. Not until I tried selling my car.
The first of many rude women I dealt with (not sure if they were different people, or the same) was on the phone when I told them I was selling, and the buyers banker was going to contact them. I got a call ffrom the shocked buyer, who described the rude encounter she’d had on the phone, as well as what her banker had dealt with! I got the name of the person they’d spoken with (I don’t recall a name now as this was a year ago) and called back. She was rude to ME as well. She also informed me that the document I needed for the sale had to be picked up IN PERSON by me. I was living in NH (bought my car in Mass) and this bank’s in Needham! So a day later I drove hours only to deal with yet another few rude employees. All of whom seemed to think that every question I had was annoying and the answer obvious. Of course I have never had to go through such lengths just to obtain a simple document (just a copy actually– which with any other company I could’ve faxed a signed disclosure form to have them send it to me). Needless to say I didn’t sell my car then, and something tells me this ordeal had something to do with it.
So fast forward to a month ago-I’m finally selling my car.
I sell it to a dealership (South Shore Chrysler-​Glen Smith Is The MAN, buy your car from him!) and they contact Direct Federal and everything it good to go, I’m told I have nothing more to do, sign, anything! Thank God!
Of course this isn’t true.
The car was sold the 27^th, the automatic payment goes through on the 1^st. PROBLEM! My account goes into the negative, and I didn’t even know until my primary bank sent me an overdraft fee notice of hundreds of dollars! So not only had they taken money that they shouldn’t have (technically it was the fault of whoever was on the phone with the dealership, who forgot to cancel or maybe canceled my account too late and the auto payment went through as usual) but I have every transaction that had gone through since get an overdraft fee.
I called and spoke with, yes, ANOTHER RUDE WOMAN. Who said she could do nothing. I asked to speak with the manager, Jeff Shapiro, who when he answered seemed like he was already informed of my angry state, and was a little defensive. We agreed to speak rationally, and come to find out-​yes it was their mistake and –yes, he would fix the problem. He had me fax a signed letter asking to close the account and refund the money plus fees, and he overnight Fed-Ex’d the check!
Unfortunately my primary bank, Citizens, had also misinformed me, and their were more pending overdraft penalty fees! A fee for having too many fees! (BANKS!!! GAAAH!) So Jeff Shapiro sent out another check. He was 100% a gentleman, and exuded the attitude, customer service, and problem solving a good businessman should posses! THANK YOU THANK YOU THANK YOU Jeff, for working with me for nearly 2 weeks to clean up this mess!

Banking problems? Not here! After being a customer at DFCU for about 15 years, they have been so unremarkable (which is a good thing for a financial institution) that I haven’t even thinking about writing a review.
Over the years I have had car loans, mortgages, and usual bank accounts with DFCU. Even international wire transfers work as fast (or faster) than with the usual big name banks.
There are actually no ATM fees on SUM labeled dispensers. Unfortunately, deposits only work on a few ATMs around the area. I usually use one at Century Bank. But even better is their bank by mail service. You can drop checks in a special envelop in any USPS box. Credits usually show up the next day early in the afternoon. During four years in the Washington, DC area I continued banking with DFCU as the Maryland and DC banks were really terrible.
To be come a member, you have to live, work or worship in Needham. To open an account, you can always worship in Needham for a day…

Hard to love a bank. Actually, love is a strong word, but I’ve had considerably fewer problems with this credit union than any other financial institution I’ve used, and there have been a few. Free checking with online bill pay, quick response to problems, nice folks behind the counter. They’re even smiling and helpful at 10 minutes to closing on a Friday afternoon. The only catch is that you have to pay those ATM fees, since you won’t find a Direct ATM (not to be confused with ING Direct), and you have to live or work in Needham to be a member.