A review of Digital Federal Credit Union – Can your bank do that?

dcuCredit Unions don’t get as much coverage as traditional banks and part of the reason is there is no incentive to cover Credit Unions. Credit Unions don’t pay for referrals, they are not set up that way. But then, for those who are members of a Credit Union, this is like an awesome secret others don’t know about! I discovered this secret 10 years back and I’m going to let you in on this. You can decide if Credit Unions are right for you. Though this post is about DCU, this gives an idea as to what to expect from Credit Unions.

ATM

Surprisingly, one of the reasons people prefer local banks is free access to ATMs. While it is true that Credit Unions don’t offer as many ATMs as a local bank, most Credit Unions provide a compromise. DCU offers up to $5 or $10 ATM surcharge reimbursement when using a non DCU ATM. You can always use DCU check card and get cash back which is surcharge free.

Free Checks For Life!

Yep! Not the first box of checks, but checks forever are free. Checking account carries no minimum requirements.
This comes with free check card as well.

Free Online Check Images

A year’s worth of check images, both back and front for free. This is a very useful feature, especially when you need proof that a check was processed and ‘money gone’ is not proof enough!

Instant, Mobile Check Deposit With Your IPhone or Android

Check deposits are yet another reason most people think having a local bank is important. Guess what? At DCU, you don’t have to leave your couch to deposit your check and the money is made available almost instantly. Here’s how it works: Take a picture of the check you would like to deposit with either your iPhone or Android phone, enter check amount and deposit account and send. How cool is that! (You can also do an instant deposit if you have a scanner and a PC/Mac. If you have neither, you can request DCU for pre-paid check deposit envelopes or drop your checks in a in-network ATM)

Online Bill Pay

DCU has a top notch Bill Pay option. I’ve been using this feature for a long time and DCU hasn’t messed up one single payment. Oh, it’s free.

Solid Online Experience

I love DCUs online experience. Not fancy, but very functional.

Free FICO credit score

DCU recently started offering free FICO credit scores to all its members. I think this is an awesome feature. No monthly or annual fees.

Free FinanceWorks From Quicken

This is pretty much like Mint. I use both and don’t have a preference of one over another. I use Mint only to track my portfolio and use Quicken for other accounts!

Customer Service

I have nothing but good things to say about DCU customer service. They respond to emails fairly quickly and phone calls are answered without long wait times.

How To Join?

The catch with Credit Unions is that they have eligibility requirements. DCU has its share too! It is a little convoluted, but not impossible to join! Here’s the link.

Other Services

DCU also has auto, realty, insurance, mortgage refinance and credit services. I don’t actively use them, so I’m a little hesitant writing about them. But the rates are quite competitive – at least for auto and mortgages.

Though I’ve been with DCU for a very long time, I’ve never been to a physical branch! I use it as an online bank and so far, found no reason to visit a branch. I actually can’t visit a branch as I don’t even live in the same state!

What are your experiences with your bank? Is there any service traditional banks provide that a CU can’t or won’t provide? What are your thoughts?

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9 thoughts on “A review of Digital Federal Credit Union – Can your bank do that?

  1. …: A review of Digital Federal Credit Union – Can your bank do that? http://bit.ly/bBXAP9

  2. A review of Digital Federal Credit Union – Can your bank do that? http://bte.tc/cqYk #RTW

  3. A review of Digital Federal Credit Union – Can your bank do that? http://bte.tc/cqYk #RTW

  4. A review of Digital Federal Credit Union – Can your bank do that? http://bte.tc/cqYk #RTW

  5. A review of Digital Federal Credit Union – Can your bank do that? http://bte.tc/cqYk #RTW

  6. A review of Digital Federal Credit Union – Can your bank do that? http://bte.tc/cqYk #RTW

  7. A review of Digital Federal Credit Union – Can your bank do that? http://bte.tc/cqYk #RTW

  8. I have had DCU for 30 yrs.. they have gone down hill fast over the last decade. Service is sub par, loan rates advertised are great but what you get is far different. so if you are not a 780 you are not worth it to them. if you get auto loan from them, you have to prove your insurance every year by faxing your policy to some 3rd party whose serice is equally terrible. every year we fax them and every year DCU slaps a $3000 policy on my loan saying we didnt prove we have insurance.. in Mass its mandatory so not sure why i have to prove it to the registry of motor vehicle and DCU. then if DCU screws up they still charge u a $100 admin fee.
    use mobile app for check deposit. sometimes it works first time. others it take 10-20 times to work. some days you get a confirmation of deposit right away other times you dont . rescan and they tell you later it was canceled because the frist deposit worked.. other times you wait and it never deposits and best of all they do not track it well so when you call up saying you deposited a check 4 days ago they have no record even though your app says it was cleared and finished.

    im in the process of moving all loans to a new banks that is local. after all my auto loan issues, fees, never miond dealing with a equity line iwas told i could lock in once ayr.. then they renegged becaus ethe 20 yr old kid closing loans was new an shouldnt of been working by himself. so applied to move it to a fixed and was told i cant, once i have an equity line the only thing i can do is pay it off or move it to another bank.????

    i think local banks are becoming more customer aware and credit unions are becoming like the bigger banks and have fees and poor service .. they dont even know your name after 30 yrs.

  9. Visions Federal Credit Union says:

    Think about adjusting your personal believed process and giving others who may read this the benefit of the doubt.

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