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Direct Credit Union

Overview
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Direct Credit Union is a federal credit union based in Needham, Massachusetts. It has been opened since 1953, for 67 years.

With around $686,640,000 in assets, Direct Credit Union is considered to be a very large credit union.

About
Address 50 Cabot St, Po Box 9123
Needham, Massachusetts 02494
Website http://www.direct.com
Phone (781) 433-2900
Fax (781) 455-9911
CEO Joseph A. Walsh
President of the Board Donald Kelliher
Services Offered
Map
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Score Card
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67 years
Years in business
Opened in 1953
Well Capitalized
Net worth classification
Source: NCUA
31,246 members
Membership type: Community credit union
Above average number of members
470:1
Credit union member to staff ratio
470 per each FTE employee
Compared to 411:1 nationally
Fewer staff
$686,641,299
Total assets
Above average
1 branch
Compared with an average of 4 nationally and 3 in Massachusetts
Average number of branches
0.30%
Savings interest rate
Compared to 0.3% nationally
16.24%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 3 in Massachusetts
Average number of branches
Direct Credit Union Branch Locations

Direct Credit Union: Main Branch
50 Cabot Street
Needham, Massachusetts 02494
No ATM
Members
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31,246 members
Membership type: Community credit union
Above average number of members

With 31,246 members, the Direct Credit Union is considered to be a very large credit union. It is among the largest of credit unions and is larger than 87% of credit unions.

Fees
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$16
Average fee per member
The average fee per member at the Direct Credit Union is $16, which is low compared to most credit unions. This rate is lower than 76% of all credit unions.
Fees are lower than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Direct Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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470:1
Credit union member to staff ratio
470 per each FTE employee
Compared to 411:1 nationally
Fewer staff
66 staff members
FTE (full-time equivalent)
1% of employees are part-time
66 full-time, 1 part-time

Direct Credit Union has 66 full-time staff members and 1 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 99% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Direct Credit Union has around 470 members per staff, a higher ratio compared to other credit unions.

Assets
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$686,641,299
Total assets
Above average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
12.1%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$25,677
Average loan and lease size
Loan & lease sizes are big! They are bigger than at 96% of credit unions.

Direct Credit Union holds a total of $615,280,000 in loans and leases, which is about $25,677 per member on average.

Savings interest rate
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0.30%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Direct Credit Union pays 0.30%.

Loan rates
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16.24%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
12.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
2.30%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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4.50%
New car loan rate
Compared to 4.0% nationally
5.25%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.49%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.75%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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