Credit Unions Near Me
National Credit Union Service Organization

DIRECT FEDERAL CREDIT UNION

Dec, 31, 2023 — DIRECT FEDERAL CREDIT UNION is a federal credit union headquartered in NEEDHAM, MA with 1 branch location and about $835.83 million in total assets. Opened 71 years ago in 1953, DIRECT FEDERAL CREDIT UNION has about 26,008 members and employs 77 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:26,008
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, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$835,830,609
CEO/Manager:Joseph A Walsh
Chairperson:Joseph Capalbo, Jr.

Call Report

  • First Time Homebuyer Program
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 41,585,826
TOTAL INVESTMENTS 0
Loans Held for Sale 469,000
 
 Real Estate Loans 586,011,765
 Unsecured Loans 23,076,183
 Other Loans 118,627,215
 TOTAL LOANS 727,715,163
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -4,816,461
 Land And Building 0
 Other Fixed Assets 1,534,002
 NCUSIF Deposit 5,976,809
 All Other Assets 318,625
  TOTAL ASSETS 835,830,609
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 119,188,000
 Accounts Payable & Other Liabilities 11,135,214
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 76,245,905
 Regular shares 88,696,853
 All Other Shares & Deposits 449,625,062
  TOTAL SHARES & DEPOSITS 614,567,820
  TOTAL LIABILITIES 744,891,034
 Regular Reserve 0
 Other Reserves 5,988,916
 Undivided Earnings 84,950,659
  TOTAL EQUITY 90,939,575
  TOTAL LIABILITIES, SHARES, & EQUITY 835,830,609
INCOME & EXPENSE  
 Loan Income 32,932,404
 Investment Income 2,236,444
 Other Income 477,013
 Total Employee Compensation & Benefits 12,312,793
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 7,851,011
 Non-operating Income & (Expense) 548,579
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 145,477
 Cost of Funds 16,860,740
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 268,252
↑ Back to Top

Other Credit Unions

ONE TWENTY CREDIT UNION
PO BOX 300041
JAMAICA PLAIN, MA 02130
SYMPHONY FEDERAL CREDIT UNION
301 Massachusetts Ave
BOSTON, MA 02115
DEDHAM TOWN EMPLOYEES FEDERAL CREDIT UNION
202 BUSSEY ST
DEDHAM, MA 02026
WATERTOWN MUNICIPAL CREDIT UNION
149 MAIN ST
WATERTOWN, MA 02472-4410
BELMONT MUNICIPAL FEDERAL CREDIT UNION
455 Concord Ave
BELMONT, MA 02478
WELLESLEY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
1 HOLLIS ST Ste 105
WELLESLEY, MA 02482-4686
BROOKLINE MUNICIPAL CREDIT UNION
334 WASHINGTON ST
BROOKLINE, MA 02445-6850
CAMBRIDGE FIREFIGHTERS FEDERAL CREDIT UNION
113 Garden St
CAMBRIDGE, MA 02138-6700
CAMBRIDGE TEACHERS FEDERAL CREDIT UNION
20 Felton St
CAMBRIDGE, MA 02138
ALPHA CREDIT UNION
1 Deaconess Rd
BOSTON, MA 02215