Direct Federal Credit Union

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A short history of Direct FCU

Since its inception in 1953 the Direct Federal Credit Union has been serving its members in the Needham, Massachusetts area with exceptional financial products. You can find their current interest rates on used car loans, new car loans, 1st mortgage loans and interest rates on both fixed and adjustable mortgages here on these pages. Currently led by Joseph Walsh, the Direct FCU has grown its membership to over 27,010 with assets of more than $571,814,924. They have a main office and 1 branch offices. Please see the credit unions website or contact them by phone at (781) 433-2900 or email them at to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in Needham, MA.

General Information For Direct FCU was taken from their 6/30/2017 quarterly report, which is the most current available public information.

Charter Number 9071
Address 50 Cabot St, PO Box 9123 
City Needham 
State Massachusetts 
Zip-Code 02494
Phone Number (781) 433-2900
Fax Number (781) 455-9911
Email Address:
CEO/President Joseph Walsh
Members 27,010 
Full-Time Employees 56 
Part-Time Employees
Number of Branch Offices
Total Assets 571,814,924 

Compare Direct Federal Credit Union To Other Local Credit Unions

Credit Union Name
Branch Name
Zip Code
Phone Number
ATM Access
Distance (Miles)
Wellesley Municipal Employees CU Wellesley Municipal Employees fcu 1 HOLLIS ST Ste 105 02482 (781) 235-0503 No 3.29
Energy CU Reservoir Woods 40 Sylvan Rd 02451 (781) 290-0555 No 3.62
Dedham Town Employees CU DTEFCU 202 BUSSEY ST 02026 (781) 326-8068 No 5.11
Watertown Municipal CU WATERTOWN MUNICIPAL CREDIT UNION 149 MAIN ST 02472 (617) 924-0160 No 5.17
City Of Boston CU CANTON 305 Turnpike St 02021 (781) 828-1444 No 5.24

Direct Federal Credit Union Financial Performance Charts

Performance Charts

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Financial Data

Direct Federal Credit Union Lowest Loan Rates With State and USA Rankings

Unsecured Credit Card New Car Loans Used Car Loans 1st Mortgage Loans Other Real Estate
Rate 14.24 2.24 2.24 3.50 2.75
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions 500 56 35 72 15
Rank Among All Massachusetts Credit Unions 36 13 3 11 2

Direct Federal Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate N/A 0.40 0.40 1.50 0.75
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions N/A 75 76 91 192
Rank Among All Massachusetts Credit Unions N/A 7 14 7 37
Direct Federal Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 14.2406,91218,456,840
All Other Unsecured Loans/Lines of Credit 10.2402,5282,618,344
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 0.00000
New Vehicle Loans 2.2402,83464,415,406
Used Vehicle Loans 2.2403,48959,408,306
Total 1st Mortgage Real Estate Loans/Lines of Credit 3.500720190,491,984
Total Other Real Estate Loans/Lines of Credit 2.7503,482176,904,465
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 2.25025259,825
TOTAL LOANS & LEASES 19,990512,555,170

Direct Federal Credit Union Real Estate Loans and Lines of Credit


No. of Loans Outstanding Amt of Loans Outstanding No. of Loans Granted Year- to-Date Amount Granted Year-To-Date
Fixed Rate
    a. > 15 years 26199,474,1553613,283,520
    b. 15 Years or less 32951,217,823245,341,587
    a. > 15 years 7526,738,174155,930,000
    b. 15 Years or less 5112,650,52800
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 4411,30400
Adjustable Rate > 1 yr 0000


Closed-End Fixed Rate 0000
Closed-End Adjustable Rate 56819,559,20600
Open-End Adjustable Rate 2,914157,345,25920628,469,946
Open-End Fixed Rate 0000
TOTALS 4,202367,396,44928153,025,053


Interest Only & Payment Option 1st Mortgage Loans 000
Interest Only & Payment Option Other RE/LOC Loans 2,856155,855,42428,469,946
    a. Federally Insured Home Equity Conversion Mortgage (HECM) 0000
    b. Proprietary Reverse Mortgage Products 0000

Direct Federal Credit Union Member Offerings
First Time Homebuyer Program Yes
Real Estate Loans Yes
Pay Day Lending No
Share Secured Credit Cards No
Overdraft Protection/Courtesy Pay No
Overdraft Lines of Credit No
ATM/Debit Card Program Yes
Interest Only and Payment Option 1st Mortgage Loans No
Check Cashing No
Money Orders No
No Surcharge ATMs No
Home Banking Via Internet Website Yes