Contact Information
Message
Chat
Application Status
Relationship Banker
Frequently Asked Questions
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
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
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.
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
Once you’ve submitted your application, you will have a personal Mortgage Specialist follow up with you to provide additional help and guidance. Your Mortgage Specialist will be your single point of contact from here. He or she will send you an approval letter, order an appraisal from a licensed appraiser familiar with home values in your area, and prepare your loan for closing. The closing will take place at the office of our attorney in your area, who will act as our agent. Before closing, your Mortgage Specialist will contact you to walk through the final information and answer any questions you might have.
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.
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
HELOC closings take place at our Branch located in Needham, MA.
Once you get your title, there may be some changes that need to be made before the title is ready to be given to Direct Federal. Please do not write on your title, as this will void the title. In the Names and Mailing Address of Owners section, it must list you as the owner and your current address. If the title application with the RMV is completed properly, we will be notified that the title has been created with "Direct FCU" as lienholder.
IMPORTANT: The VIN (Vehicle Identification Number) on your Loan Note and Agreement must match the VIN on your title. If you are aware of any discrepancies, please contact us as soon as possible.
If the vehicle you are titling is for your business and you would like it in your business name, you must open a business membership and apply for a commercial loan. If you have started the loan as a personal vehicle loan, the title will need to be in your name.
Direct Federal’s lienholder information:
Direct Federal Credit Union
ISAOA/ATIMA
50 Cabot Street
Needham, MA 02494
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 >
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.
The status of your payments is located under “Payment activity” within the “Payments” tab of the Bill Pay widget. Click on each individual payment to obtain details and the status of your payment.
We currently do not offer Health Savings Accounts.
View our banking account options >
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 VA loans.
If you are moving to a different state within the U.S., a state change request should first be submitted through Online Banking or by calling our Contact Center at 888.2DIRECT.
IMPORTANT: Direct Federal cannot process the state change for you. You must complete this process with the applicable RMV.
This request allows us to print/prepare the title so you can process the state change at the RMV. We will mail the title to you at the address we have on file. Then bring it to the RMV to complete the title and registration in your new state. We cannot do this for you.
IMPORTANT: The process is different for owner retained states. If you live in an owner retained state, you do not have to file a state change with us. Simply go to your new RMV to title and register there. Please make sure all Direct Federal’s information is correct on all documentation so that we get notified of the state change.
Going to the RMV before filing a request with us will result in delayed processing of your forms. The RMV will contact us to request that the title be mailed to them, resulting in a higher chance of title loss. In this case, we will not be able to provide you with a duplicate title unless Direct Federal is listed as lienholder.
We do not offer Student loans at this time, but click below to learn more about what personal loans and lines of credit we offer!
View Home Equity >
Direct Federal Credit Union
ISAOA/ATIMA
50 Cabot Street
Needham, MA 02494
Submit an application online or call to speak with Mortgage Loan Officer.
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.
$0 unless property is in a trust and/or there are unrecorded discharges that need to be recorded.
Cash Back rewards applies to purchases posted on your account less credits for returned merchandise. Point cash value of $.01 will be earned for every qualifying dollar. Rewards will be processed annually in November and a check will automatically be mailed to you. Minimum of 5,000 points required for redemption.
There is no cash advance fee.
Yes. You may pay your Direct Federal Visa bill online using any checking account.
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!
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 >
The following must be done if you have lost or misplaced your title after the vehicle loan is paid in full and our lien is released:
Bring the paid loan letter, which includes the lien release statement, to your RMV to request a new title.
You will be responsible for all fees. The RMVs does not allow Direct Federal to apply for a duplicate title on your behalf since we are no longer a lienholder.
Fraud Alerts are transmitted to the phone number(s) and/or email address associated with the card used at the time of the transaction. If a joint cardholder is receiving alerts, it is because that cardholder’s phone number and/or email address is associated with the card transacting. If the fraud alerts should have gone to another cardholder on your account, we ask that you update the contact information for that cardholder.
Once your application has been approved, you can expect your new card in the mail within 1-2 business days.
CD dividends are compounded daily and posted monthly.
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.
Yes, Direct Federal debit and credit cards can be added to Apple Pay, Google Pay, and Samsung Pay.
Possible reasons for the difference in balance and available balance could be as follows:
-SAME-DAY AVAILABILITY
Funds from the following deposits are available on the day of deposit:
• Cash.
• Electronic deposits, including wire transfers and pre-authorized credits (such as social security benefits and payroll payments), but not including check deposits sent to the Credit Union through Mobile Deposit.
• Checks drawn on Direct Federal Credit Union.
• The lesser of (1) $1000 or (2) all other deposits (except Foreign Checks).
NEXT-DAY AVAILABILITY
Funds from the following deposits are available on the first business day after the day of deposit:
• Checks drawn on the United States Treasury and payable to you
• The following checks, if they are payable to you and are deposited in person at a branch: • Commonwealth of Massachusetts and local government checks
• Cashier’s, certified, and teller’s checks
• Checks drawn on a Federal Reserve Bank or a Federal Home Loan Bank
• U.S. Postal Money Orders
SECOND-DAY AVAILABILITY
Funds from the following deposits are available on the second business day after the day of deposit:
• The following checks, if they are not payable to you and/or are not deposited in person at a branch: • Commonwealth of Massachusetts and local government checks
• Cashier’s, certified, and teller’s checks
• Checks drawn on a Federal Reserve Bank or a Federal Home Loan Bank
• U.S. Postal Money Orders
• The lesser of (1) all other deposits (except Foreign Checks) or (2) the first $5,000 of all deposits you made that day minus any portion of such amount that has already been made available to you.
FIFTH-DAY AVAILABILITY
All other deposits (except Foreign Checks) will be available no later than the fifth business day after the day of your deposit.
LONGER DELAYS MAY APPLY
-Pending transactions have yet to post to the 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.
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.
We do not offer foreign currency exchange services at this time.
There are no balance transfer fees.
We are federally Insured by the NCUA. The National Credit Union Share Insurance Fund was created by Congress in 1970 to insure members' deposits in federally insured credit unions. Each credit union member has at least $250,000 in total coverage in individual accounts.
The Share Insurance Fund also separately protects members’ IRA accounts up to $250,000 and provides additional coverage for members’ trust accounts.
The Share Insurance Fund has the backing of the full faith and credit of the United States. Credit union members have never lost even a penny of insured savings at a federally insured credit union.
Information on your rights to dispute transactions and how to exercise those rights is provided in the Agreement.
We will not transmit sensitive personal information through alerts.
You can submit a Stop Payment Request through Online Banking via Tools > Check Services.
Our fax number is 781-433-2922.
Please visit:
www.myinsuranceinfo.com
If you realize you need more money to finance your purchase once you start shopping for your car, simply call us at 781.455.6500.
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.
We currently do not offer 529 plans.
View our banking account options >
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.
Monthly dividends are available for withdrawal without penalty.
Required documentation will include but is not limited to: an insurance binder or insurance declaration page, income verification, mortgage statement, and valid license or identification.
You can locate your credit card reward points balance on your credit card statement. You can access this statement within Digital Banking.
View credit card statement >
Reminder
Rewards will be processed annually in November and a check will automatically be mailed to you. Minimum of 5,000 points required for redemption.
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 Draw Period is the period of time you can access funds from your Home Equity Line. Direct offers a 15-year draw period with interest-only monthly payment options.
If you are an existing member, the easiest way to check the status of an application is through the Application Center within Digital Banking.
If you are not a member, please visit our Application Status Center.
You can find your account numbers within Digital Banking under Account Details.
View Account Information >
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 >
Dividends start to accrue on the date the account is funded.
$395 if the line is closed during the first two years.
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.
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.
If you are travelling within the U.S., you will receive phone calls, text messages and emails. If you are travelling internationally, you will receive emails. You will only receive text messages if your mobile phone plan allows you to receive them while traveling outside of the United States.
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.
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.
It takes about five minutes to apply and you will have an answer within one business day.
There are no closing costs.
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.
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.
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.
You can apply for a credit limit of up to $25,000.
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.
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.
1. You can opt out of text alerts by replying “STOP” to the text message
2. You can opt out of phone calls when the alert system calls you.
3. Click on the Unsubscribe link in the email to stop the emails.
4. Contact our Call Center to ask to stop receiving fraud alerts.
5. Visit a branch to ask to stop receiving fraud alerts.
You will first need to link your external account to online banking. To link your external account navigate to the transfers and pay menu option and then click on transfers & loan payments. Once you are in the transfers widget click on "more actions" and then "add account." Once your account has been added it will appear in the dropdown menus within the Transfers and loan payment widget.
Yes, Direct Federal will allow properties that are placed in acceptable trusts. The trust must be reviewed by our Attorney and must meet all of our guidelines and requirements for the transaction to move forward. The applicant will need to provide a full copy of the Trust agreement for review. The applicant must be the trustee or one of the co-trustees. All trustees must be 18 years of age or older. Additionally, the trustee must be authorized to borrow money and encumber real estate.
In order to use Zelle®, the sender and recipient's bank or credit union accounts must be based in the U.S.
Any phone numbers that Direct Federal has in your records may be sent alerts.
Please call us at 888.2DIRECT.
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.
Yes, we do finance commercial vehicles!
View Business Loans >
Your card may be blocked for use and future transactions would be declined until the fraud alert is cleared.
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.
With Direct Federal, any savings account that you choose is federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. This deposit insurance protection is offered by the National Credit Union Administration (NCUA) and is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC).
- Each savings account is insured up to $250,000 per account owner
- Individual Retirement Account (IRA) funds are separately covered up to $250,000
- Funds in a trust account are separately covered up to $250,000
Plus, you have the ability to increase the insurance on your accounts depending on the types of accounts you have and how your accounts are owned.
For a detailed explanation of the NCUA visit their site https://ncua.gov/about . To estimate your insurance coverage, go to NCUA Share Insurance Estimator.
Questions? Simply call the NCUA Insurance Call Center at 800.755.1030, ext. 1; or call Direct Federal at 781.455.6500.
Fraud alerts are automated phone calls, text messages and emails that are sent when potentially fraudulent purchase activity has been detected on a credit/debit card account. Messages are triggered by Direct's fraud detection system.
Text messages will be sent to cardholders in the 50 United States at no charge.
Customers with international telephone numbers will only receive emails. They will not receive text messages or phone calls.
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.
We currently do not offer FHA loans.
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.
Yes, we offer SBA loans!
Applicants under 18 require a joint owner on the account.
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!
Only new HELOCs are eligible for the introductory rate. Increases/refinances of an existing HELOC at Direct Federal do not qualify.
We currently do not offer safety deposit boxes at this time.
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.
The date that is displayed is the estimated delivery date of the check, not the date the payment is sent from your account.
Yes! You can start a chat with us by clicking on the text bubble icon on the login page and the dashboard
Prepayment is allowed at any time without penalty. If you pay-off the balance and decide to close the line within the first two years, you will be charged a $395 Early Termination Fee.
Direct Federal lends on properties located in the following locations:
Massachusetts Counties: Norfolk, Middlesex, Suffolk, Plymouth, Essex, Bristol, Worcester, and Barnstable
Rhode Island Counties: All Counties in Rhode Island
New Hampshire Counties: Rockingham, Hillsborough, and Cheshire
We offer a variety of options to pay a Direct Federal Loan or Line of Credit.
If your payments are on time, there are no fees.
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 >
We do not offer motorcycle loans at this time, but click below to learn more about what personal loans and lines of credit we offer!