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Frequently Asked Questions
Yes, you can add GAP insurance to any auto loan for a low flat rate of $395. Learn more about GAP >
Unfortunately, you are unable to hide payees. If you have a payee that you do not use or do not use often you can add a “z” in front of the payee nickname to add it to the bottom of the list. Alternatively, when setting up Payees, you can add “tags” to each payee. This will allow you to sort by tag. For example, for Payees you pay each month you could add the tag “Monthly Payment”. You will then be able to sort by all Payees with the tag “Monthly Payment”.
Yes. Our priority is to protect your personal information. When you return a fraud alert message, we will ask for the unique case # to your specific fraud alert.
Your IRS forms will be available under Statements within Digital Banking.
View Statements >
1% of each transaction in US dollars.
We do not offer RV loans at this time, but click below to learn more about what personal loans and lines of credit we offer!
The amount you can borrow depends on the property type and the equity you have in your home.
Primary Residences: Up to 80% Combined Loan-To-Value (CLTV). Any amount between $20,000 and $500,000.
Second Home and Investment Properties: Up to 70% Combined Loan-To-Value (CLTV). Any amount between $20,000 and $200,000.
There are no closing costs.
There are no balance transfer fees.
Yes. In the application, please select "Refinance Home Loan" as the "Loan Purpose".
If you'd like to get in touch with us via message, please utilize our secure Message Center in Digital Banking.
Log in to access Message Center >
Yes. Most HELOCs have variable interest rates that can change based on the Prime Rate. A rate change will affect your monthly payment.
Yes, Direct Federal debit and credit cards can be added to Apple Pay, Google Pay, and Samsung Pay.
On the “Payments” tab of the Bill Pay widget, you will see “Payment Activity”. There you will see what Bills are scheduled to be paid in the current month. By clicking “Next” or “Previous” you can see what is scheduled to be paid or has been paid in the previous month. If you need additional information about any payment such as the payment frequency or the check number, click on the individual payment to be brought to the payment details.Alternatively, if you click on the “Manage Payees” tab within the Bill Pay widget and select an individual Payee you can view historical and scheduled payments for each Payee. Please note that payment history is only available from 2/1/21 and on. Please reference your past statements for payments prior to that.
You may finance automobiles, SUVs, pickup trucks, and minivans for consumer use. For commercial vehicles, visit the Business Loans page.
Log in to Online Banking or our Mobile App Hover over Menu item "Tools"Select "Card Management"Select your Visa Credit Card. Select "Balance Transfer", input Card Issuer Details and Submit!
You can access Bill Pay by clicking here or you can access Bill Pay from our Mobile App. Bill Pay can be found by selecting More > Transfer & Pay > Bill Pay.
Go to the Bill Pay widget and click on the “Manage Payees” tab. Then select “Add Payee”. You can add a Payee by searching your Payee within our database. If your payee is there, the information about the Payee will auto-fill. If it is not in our database, you can select “click here to create a Payee manually.” You will need to have your Payees information nearby including Name, Account Number, Email address, and Mailing Address.
HELOC closings take place at our Branch located in Needham, MA.
50 Cabot St. Needham, MA 02494
Direct Federal Credit Union
ISAOA/ATIMA
P.O. Box 2092
Carmel, IN 46082
The date that is displayed is the estimated delivery date of the check, not the date the payment is sent from your account.
At the end of your 15-Year Draw Period, you will enter the Repayment Period. The Repayment Period is 15 years of principal and interest. The rate remains variable based on your Home Equity agreement.
You can send, request, or receive money with Zelle®. To get started, log into the Direct Federal Credit Union App. In the main menu, select "Transfer and Pay". Then "Send money with Zelle®".
To send money using Zelle®, simply select someone from your mobile device's contacts (or add a trusted recipient's email address or U.S. mobile number), add the amount you'd like to send and an optional note, review, then hit "Send." The recipient will receive an email or text message notification via the method they used to enroll with Zelle®. Money is available to your recipient in minutes if they are already enrolled with Zelle®.
To request money using Zelle®, choose "Request," select the individual from whom you'd like to request money, enter the amount you'd like, include an optional note, review and hit "Request". If the person you are requesting money from is not yet enrolled with Zelle®, you must use their email address to request money. If the person has enrolled their U.S. mobile number, then you can send the request using their mobile number.
To receive money, just share your enrolled email address or U.S. mobile number with a friend and ask them to send you money with Zelle®. If you have already enrolled with Zelle®, you do not need to take any further action. The money will be sent directly into your Direct Federal Credit Union account, typically within minutes.
If someone sent you money with Zelle® and you have not yet enrolled with Zelle®, follow these steps:
- Click on link provided in the payment notification you received via email or text message.
- Select Direct Federal Credit Union.
- Follow the instructions provided on the page to enroll and receive your payment. Pay attention to the email address or U.S. mobile number where you received the payment notification - you should enroll with Zelle® using that email address or U.S. mobile number to ensure you receive your money.
Completing your mortgage application online is just like completing one on paper — with the added benefit of being able to complete it anytime, anywhere. Plus, at any time, you may stop and save your application; then return to it later. Expect your application to take about 15 minutes to complete. A series of prompts and helpful tips will guide you through each screen to help you through each stage of the application process, which includes the following steps:
Start App – You’ll be asked to select a username and password to ensure security and privacy. Create and enter your username and password here and make a note of them for your records.
Loan Details – Enter the address, price and other information related to the property.
Personal Info – Provide the name, date of birth and social security number for EACH borrower.
Employment Income – Tell us about your current employment situation, including gross income and any additional income you may receive.
Expenses – What is your current monthly expense for housing?
Asset Info – Provide a list of your financial assets, including bank accounts and investments, in order to verify that you have access to sufficient funds to complete the transaction.
Submit App – After a few final questions, simply submit the application to Direct Federal and a mortgage specialist will follow up with you
Some small businesses are able to receive payments with Zelle®. Ask your favorite small business if they accept payments with Zelle®. If they do, you can pay them directly from your Direct Federal Credit Union App using just their email address or U.S. mobile number.
Neither Direct Federal Credit Union nor Zelle® offers purchase protection for payments made with Zelle® - for example, if you do not receive the item you paid for, or the item is not as described or as you expected. Only send money to people and small businesses you trust and always ensure you've used the correct email address or U.S. mobile number when sending money.
No. Using the calculator does not affect your credit score and does not initiate a credit inquiry.
You can only cancel a payment if the person you sent money to hasn't yet enrolled with Zelle®. To check whether the payment is still pending because the recipient hasn't yet enrolled, you can go to your activity page, choose the payment you want to cancel, and then select "Cancel This Payment". If you do not see this option available, please contact our customer support team at 7814556500 for assistance with canceling the pending payment.
If the person you sent money to has already enrolled with Zelle®, the money is sent directly to their bank account and cannot be canceled. This is why it's important to only send money to people you trust, and always ensure you've used the correct email address or U.S. mobile number when sending money.
If you sent money to the wrong person, please immediately call our customer support team at 7814556500 so we can help you.
We currently do not offer Educational Savings Accounts.
View our banking account options >
Requested Lines $400,000 and above require an appraisal. Also, if you believe your home value is higher than our assessed value, an appraisal may be required in order for us to approve the amount requested.
Appraisal cost estimates:
Single-family unit - Approximately $500
Multi-unit -Approximately $650.00
We will not transmit sensitive personal information through alerts.
You can find a full list of participating banks and credit unions live with Zelle® at Zellepay.com.
If your recipient's bank or credit union isn't on the list, don't worry! The list of participating financial institutions is always growing, and your recipient can still use Zelle® by downloading the Zelle® app for Android and iOS.
To enroll with the Zelle® app, your recipient will enter their basic contact information, an email address or U.S. mobile number, and a Visa® or Mastercard® debit card with a U.S. based account (does not include U.S. territories). Zelle® does not accept debit cards associated with international deposit accounts or any credit cards.
New Retail Auto:
New Retail Autos are defined as vehicles from the current or previous model year. Also, a vehicle is considered new if it has not been previously titled or has fewer than 7,500 miles (i.e. dealer demonstrators).
Used Retail Auto:
Used Retail Autos are defined as vehicles no more than eight model years removed from the definition of new.
Our fax number is 781-433-2922.
Speak to a Direct Federal Member Service Representative. This can be done by visiting the branch or calling us at 781-455-6500. Once it is established that the item is unauthorized, an affidavit of forgery needs to be completed and either mailed to Direct Federal or taken into the branch for processing. Once the process is complete, the funds will be returned to your account.
No, Direct Federal Credit Union does not charge any fees to use Zelle® in our mobile app.
Your mobile carrier's messaging and data rates may apply.
An ACH, or Automated Clearing House, transaction is an electronic transaction that allows merchants to access your account. For example, payroll direct deposits are ACH deposits. Additionally, things like gym membership dues can be set up as ACH withdrawals.
You are able to see and access all of the accounts your Social Security Number is associated with at Direct Federal, under one login. This includes Custodial accounts, Joint accounts, and Trust accounts. If you see accounts you don't want to see, you can go to My Settings and click on Accounts. Here you will be able to hide/unhide and rename your accounts.
The Home Equity grace period is 10 days.
Within Online Banking, select your Loan and click on the specific payment you would like more information on. Then select "Breakdown" and you will be able to view the Principal and Interest breakdown of your loan payment.
We do not offer Boat loans at this time, but click below to learn more about what personal loans and lines of credit we offer!
The calculator assumes standard HELOC terms, including a variable interest rate, interest‑only payments during the draw period, and repayment of principal and interest during the repayment period. Actual terms may differ based on your specific loan agreement.
One of the following must be done if you have lost or misplaced the title that was mailed to you while the loan is still open:
Contact Direct Federal at 888.2DIRECT to request a duplicate title. Processing time will depend on the RMV. You will be responsible for the state’s duplicate title fee.
Contact your state’s RMV if you live in an owner retained title state for a duplicate title. You will be responsible for the state’s duplicate title fee.
There is no over limit fees.
There is no annual fee.
Dividends start to accrue on the date the account is funded.
You will automatically be enrolled to receive all fraud alerts via the contact methods on your account, ie., email address, cell phone, home phone, work phone, etc.
The notification will disappear once your payment has posted to the Loan. Please allow 4-5 days for your payment to process before queuing another payment.
You are eligible for cash advances by going to ATMs or banks that are part of the Visa network. You can also transfer cash advance funds from your credit card to a Direct Federal savings, checking, or money market account. Direct does not charge a cash advance fee.
If you want flexibility and ongoing access to funds, a Home Equity Line of Credit (HELOC) may be the better fit. If you prefer a fixed payment and know exactly how much you need, a Home Equity Loan (HELOAN) may make more sense.
HELOC
Best for ongoing or uncertain expenses. Variable interest rate.
HELOAN
Best for one-time projects/lump sum upfront. Fixed interest rate.
You can ensure that you're on the newest app version available by turning on automatic updates in your device settings
With Direct Federal, you can open a Home Equity Loan or Line for:
Primary Residences: Any amount between $20,000 and $500,000.
Second Homes and Investment Properties: Any amount between $20,000 and $200,000.
The title proves that you own the vehicle. The registration is permission from the state to operate it on the road. It will come to you with license plates and/or a sticker to display on the vehicle. In most states, your registration should always be with your vehicle, just like your license plates.
The final step of owning your new vehicle is to register and title it at your state’s Department of Motor Vehicles (RMV). It may also be known as the Bureau of Motor Vehicles (BMV), the Registry of Motor Vehicles (RMV), or the Department of Transportation (DOT), depending on your state. For simplicity here, we will refer to it as the RMV.
Direct Federal only holds onto the title while your auto loan is open if you do not live in an owner retained state. If you live in an owner retained state, the RMV will send you the title to keep safe until your loan is paid in full.
This feature is for existing Home Equity Line of Credit (HELOC) only. You cannot get a Fixed-Rate Option without first having a Home Equity Line of Credit. However, a HELOC can be converted to a Fixed Rate Carve Out during the initial HELOC closing.
The HELOC limit will be reduced by the amount of the fixed rate loan, but once it is paid off, the limit will replenish. Terms available: 5, 10, 15, and 20 years. There are no fees associated with a Home Equity Fixed Rate Carve Out.
Maximum number of Fixed-Rate Carve Outs: 3
We do not pull credit for carve outs.
Please report the unauthorized transaction immediately by calling the phone number provided in the alerts or the number on the back of your card. The agent will then take care of marking the transaction as fraud and close the card.
For primary residences, eligible borrowers may access up to 80% of their home’s combined loan‑to‑value (CLTV).
Navigate to the transfers and pay tab and then click on transfers and loan payments. Please note, that Principal payments CANNOT be made from external accounts. Once you have navigated to the transfers widget, select which accounts you'd like the money to come out of and which loan you will be paying. Once the accounts are selected the "Principal Payment" option will appear. Your loan must be up to date.
It takes about five minutes to apply and you will have an answer within one business day.
Once your application has been approved, you can expect your new card in the mail within 1-2 business days.
If you accidentally opted of out text alerts from a mobile phone, when the digital system calls to verify activity, the system will provide the opportunity to opt back into text alerts for the mobile phone. For all fraud alert types, please call the number on the back of your card to re-enable fraud alerts to an email address, a mobile phone or landline phone number. You can also visit a branch for assistance.
Commercial Real Estate & Investment Property eligible lending areas include:
Massachusetts Counties – Essex, Middlesex, Norfolk, Plymouth, Suffolk, and Worcester County.
New Hampshire Counties – Cheshire, Hillsborough, and Rockingham County.
Fraud alerts are sent to cardholders when potentially fraudulent transactions are detected on their accounts. We want to ensure that any questionable transactions were authorized by the cardholder.
We currently do not offer FHA loans.
Your card may be blocked for use and future transactions would be declined until the fraud alert is cleared.
We currently do not offer VA loans.
You can find your account numbers within Digital Banking under Account Details.
View Account Information >
$0 unless property is in a trust and/or there are unrecorded discharges that need to be recorded.
CD dividends are compounded daily and posted monthly.
Upon confirming that a transaction is valid, you may retry the transaction immediately.
If your payments are on time, there are no fees.
We do not charge for the coin machine but you must be a member to use it.
The coin machine is available Monday-Friday (8am-3pm) and Saturday (8am-12pm).
Please contact us at 888.2DIRECT if you plan on coming into the Branch to use the coin machine.
To make a payment to your Direct Federal Loan from a Direct Federal Account, navigate to the “Transfers” feature. For the most payment options, including Principal only payments, click on the “Classic” tab. From there you will be able to select which account you want the payment to come from, which loan it should go to, how much you want to pay, and other payment options.
Direct Federal lends on properties located in the following locations:
Massachusetts Counties – Barnstable, Bristol, Essex, Middlesex, Norfolk, Plymouth, Suffolk, and Worcester County.
New Hampshire – All Counties in New Hampshire.
Rhode Island – All Counties in Rhode Island.
We currently do not offer 529 plans.
View our banking account options >
$395 if the line is closed during the first two years.
There are no application fees, no closing costs, and no annual fees associated with a Direct Federal Home Equity Loan or Line. If the line is closed within the first two years of being opened an early termination fee of $395 would be applied.
Requested Lines $400,000 and above require an appraisal. Also, if you believe your home value is higher than our assessed value, an appraisal may be required in order for us to approve the amount requested.
Appraisal cost estimates:
Single-family unit - Approximately $500
Multi-unit -Approximately $650.00
In some cases merchants do not submit the physical check for payment. The check is converted into an electronic check (eCheck). This is also known as a digital version of a paper check (Image replacement Document). eChecks use the Automatic Clearing House (ACH) to debit from a members checking account.
Zelle® is a great way to send money to family, friends, and people you are familiar with such as your personal trainer, babysitter or neighbor.1
Since money is sent directly from your Direct Federal Credit Union account to another person's bank account within minutes1, Zelle® should only be used to send money to friends, family and others you trust.
If you don't know the person or aren't sure you will get what you paid for (for example, items bought from an online bidding or sales site), you should not use Zelle®. These transactions are potentially high risk (just like sending cash to a person you don't know is high risk).
Neither Direct Federal Credit Union nor Zelle® offers purchase protection for payments made with Zelle®- for example, if you do not receive the item you paid for, or the item is not as described or as you expected. Only send money to people and small businesses you trust and always ensure you've used the correct email address or U.S. mobile number when sending money.
Final payments may differ due to changes in the Prime Rate, approved loan amount, property value, credit profile, or selected repayment options.
We currently do not offer land loans but please check back in with us in the future!
You can reset your password.
Reset Password >
If you are locked out of your account please call us at 888.2DIRECT.
As part of your loan agreement with Direct Federal, and because your car is serving as the collateral for the loan, you are required to provide the title to us within 90 days of opening the loan. The title must display your name as the owner and list Direct Federal as a lienholder. Being a lienholder means we have an interest in the property that is on the title until the loan is paid in full.
If we receive a title for your vehicle that does not have “Direct FCU” listed as lienholder, forms to add lienholder will be mailed to you. Please complete the highlighted sections and return them in the envelope provided along with a check made payable to the applicable RMV so we can file for lien placement on your behalf.
Note: If the envelope is lost, please send documents to:
Direct Federal Credit Union
Attn: Loan Servicing
50 Cabot Street
Needham, MA 02494
Keeping your money and information safe is a top priority for Direct Federal Credit Union. When you use Zelle® within our mobile app, your information is protected with the same technology we use to keep your Direct Federal Credit Union account safe.
You can get free checks with a Hub or Community checking account. Your initial check order is sent at the time the checking is opened. You can also reorder checks through online banking, our member service center, or in the branch.
Login to Digital Banking and access the transfers widget. After choosing your account and loan from the dropdown menus, you can then specify the frequency for your recurring payments.
Login to Digital Banking >
You can update your contact information by updating your account profile in Digital Banking, by calling Member Services, or by visiting our branch.
A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by your home. It lets you borrow what you need, when you need it, up to your approved credit limit. During the draw period, you typically make interest‑only payments on what you’ve borrowed. Once the draw period ends, the remaining balance transitions into repayment over a set term.
Information on your rights to dispute transactions and how to exercise those rights is provided in the Agreement.
Only new HELOCs are eligible for the introductory rate. Increases/refinances of an existing HELOC at Direct Federal do not qualify.
We use a method called “average daily balance.” Refer to the section “Finance Charges” within the Agreement for more information on how your balance is calculated.
In order to use Zelle®, the sender and recipient's bank or credit union accounts must be based in the U.S.
You can borrow 120% of the value of your car (subject to our maximum auto loan limit of $100,000). This allows you to finance the entire purchase price, plus GAP insurance and the sales tax.
At maturity, Share Certificates (CD) will rollover into the same term at the current rate being offered, unless Direct Federal is notified prior to maturity or during the 7-day grace period.
Depending on the assessed value of your home, and the amount of equity you have in it, you may be eligible to refinance/increase your existing Direct Federal Home Equity Line. You will need to submit a HELOC application and select "Home Equity Increase (Refinance)" as the purpose. Home Equity Line Refinances/Increases have a $295 fee.
Click here to apply to refinance/increase your existing Home Equity Line >
Yes, you will need to submit a HELOC application and select "Home Equity Increase (Refinance)" as the purpose.
Home Equity Line Refinances/Increases have a $295 fee.
Click here to apply to refinance/increase your existing Home Equity Line >
Yes, we offer SBA loans!
Home Equity Lines of Credit combine flexibility with lower rates than most unsecured loans. You only pay interest on the portion of the line you actually use.
You can request a Home Equity Line of Credit and Credit Card increase through Online Banking.
Depending on the assessed value of your home, and the amount of equity you have in it, you may be eligible to refinance/increase your existing Direct Federal Home Equity Line. Home Equity Line Refinances/Increases have a $295 fee.
Click here to apply to refinance/increase your existing Home Equity Line >
Any phone numbers that Direct Federal has in your records may be sent alerts.