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Digital Credit Union
Old 04-13-2012, 08:36 AM   #1
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Digital Credit Union

I am thinking about moving all my banking needs to Digital Credit Union, is anyone here a member and what do you think of them?

Thanks!
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Old 04-13-2012, 09:13 AM   #2
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I am not a member but hear a lot of good things about them on other forums. They are a good credit union. More info here http://en.wikipedia.org/wiki/Digital...l_Credit_Union
I belong to six credit unions just not that one. I love credit unions I left BOA 7 years ago and did not look back.
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Old 04-13-2012, 10:43 AM   #3
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I belong to six credit unions just not that one

This intrigues me. Do you currently belong to six credit unions? Or is that how many you've belonged to in the past? (I currently belong to one and am considering adding a second simply for the high-rewards checking)
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Old 04-13-2012, 10:45 AM   #4
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I currently belong to six.
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Old 04-13-2012, 11:10 AM   #5
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Why do you belong to 6?

I am currently a member of 1 through which I am doing a mortgage. I have BoA and am thinking of switching to DCU which would be my second but I have to look into their brokerage services. There are more that I could join based on my occupation, etc, but I'm not sure what the benefit would be.
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Old 04-13-2012, 01:53 PM   #6
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Well some have a good savings rate and some have good loan rates. Belonging to six gives me a lot of competition at my finger tips.
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Old 04-13-2012, 02:58 PM   #7
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Credit Union Online

Link above is to NCUA that oversees all Federal Credit Unions. you can plug in digital and see a 2 page financial analysis of them. their capital is just okay a 7.68% their peer group is 10.08%. Loan delinquency and charge offs are a bit high but acceptable. Their return on average assets is nearly double of the peer group. 2 minute analysis is they know how to make money but need to set more aside for a rainy day. perhaps they keep capital low in order to pay higher dividends on savings?
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Old 04-13-2012, 03:31 PM   #8
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Quote:
Originally Posted by dmdunca44 View Post
I belong to six credit unions just not that one

This intrigues me. Do you currently belong to six credit unions? Or is that how many you've belonged to in the past? (I currently belong to one and am considering adding a second simply for the high-rewards checking)
Technically speaking, many of the credit unions that I have been associated with have a "Once a Member - Always a Member" policy.

That is to say that your membership doesn't stop when you close all your accounts.

This might be useful in the case of establishing a new account at a credit union later in life if you no longer belong to its current field of membership qualification.
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Old 04-13-2012, 07:28 PM   #9
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I've been a member of DCU since 1986 (I worked at Digital Equipment Corp. in Maynard, MA). When I transferred to the west coast in 1990 I started using a different credit union, but I continued to use the credit card with DCU.

The only problem I had with them was when making CC payments via bill payer. Once or twice per year they would deposit my payment into my savings account. Then I would have to call them and have them reverse the interest and penalties. This is my first month since obtaining the CC in the 1980's that I have no balance on the DCU card. I grew tired of having to babysit the card and make sure the payment was used to pay off the CC and opened a new card with my other credit union.

Other than that it I really liked dealing with them.
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