Dover Federal Credit Union is headquartered in Dover and is the 2nd largest credit union in the state of Delaware. It is also the 615th largest credit union in the nation. It was established in 1958 and as of December of 2024, it had grown to 145 employees and 44,085 members at 9 locations. Dover Federal Credit Union's CD rates are 4X the national average, and it has a B health rating.
Field of Membership Restrictions
Membership in Dover Federal Credit Union is open to anyone by joining the Friends of Bombay Hook. Membership is also open to military personnel of the U.S. government with duty location in Delaware, employees of Dover Air Force Base, Bayhealth, Dover Downs and over 400 Business Partners.
See current membership details
Dover Credit
I filled out a form to apply for the credit card because of its low APR. After filling it out, they sent me an email that it was pre-approved. Then they did a Hard Inquiry and sent me a congratulations email. It seems absurd to me that after they pre-approve the application, and they do the Hard Inquiry, they force me to open an account and see if I can be a member to continue with the process and since I refused, they sent me a letter saying that I had been denied. I think that this way of getting clients is Not professional. They must first ask if I want to have an account with them before making the Hard inquiry. Grateful for denying me the card, so I have less expenses
Horrible Bank
this bank is horrible they charge a convenience fee for calling in to pay my truck payment that is 12.95 it look me almost two hours to get someone on the phone what is convenient about that. Then is took three days to get an account number so i could pay my truck payment on line and the website makes you go to another site just to pay with external account it was a night mare and get this they charge you 4.95 convenience fee to pay your truck payment. the staff on the phone is rude and they offer no convenience unless you live right next to the bank. ive been in the military for 15 years and I tell all my soldiers to stay away from this scam of a bank
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 12443 |
| Year Chartered | 1958 |
| Employees | 145 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.18% |
| Return on Equity - YTD | 2.54% |
| Annual Interest Income | $34.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $677.4MM$697.7MM |
| Loans | Q4 2024vs Q4 2023 | $536MM$537.8MM |
| Deposits | Q4 2024vs Q4 2023 | $622.8MM$613.3MM |
| Equity Capital | Q4 2024vs Q4 2023 | $49.4MM$47.6MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $5.6MM$5MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $7.6MM$4.5MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |