Sep, 30, 2025 — DIRECT FEDERAL CREDIT UNION is a federal credit union headquartered in NEEDHAM, MA with 1 branch location and about $784.19 million in total assets. Opened 73 years ago in 1953, DIRECT FEDERAL CREDIT UNION has about 23,561 members and employs 72 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DIRECT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 50 Cabot St NEEDHAM, MA 02494 |
| Phone: | (781) 433-2900 |
| Fax: | (781) 455-9911 |
| Website: | https://www.direct.com |
| Branches: | 1 branch locations |
| Members: | 23,561 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9071 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $784,188,722 |
| CEO/Manager: | Joseph A Walsh |
| Chairperson: | Meredith Hoban Dunn |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 42,813,977 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 577,703,849 |
| Unsecured Loans | 21,974,606 |
| Other Loans | 96,352,227 |
| TOTAL LOANS | 696,030,682 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,045,250 |
| Land And Building | 0 |
| Other Fixed Assets | 1,254,536 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 5,487,559 |
| All Other Assets | 315,296 |
| TOTAL ASSETS | 784,188,722 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 77,000,000 |
| Accounts Payable & Other Liabilities | 6,530,652 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 69,322,676 |
| Regular shares | 73,224,311 |
| All Other Shares & Deposits | 470,069,935 |
| TOTAL SHARES & DEPOSITS | 612,616,921 |
| TOTAL LIABILITIES | 696,147,573 |
| Regular Reserve | 0 |
| Other Reserves | -2,126,310 |
| Undivided Earnings | 90,167,459 |
| TOTAL EQUITY | 88,041,149 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 784,188,722 |
| INCOME & EXPENSE | |
| Loan Income | 24,869,998 |
| Investment Income | 2,256,810 |
| Other Income | 409,772 |
| Total Employee Compensation & Benefits | 8,708,665 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 5,336,619 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 12,075 |
| Cost of Funds | 15,659,695 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -1,403,169 |
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