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Frequently Asked Questions

Use the search bar below to sort through our library of FAQs to learn more about a specific product, service, or process.
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I would like to open a home equity loan or line. What is the minimum or maximum amount I can apply for?

With Direct Federal, you can open a Home Equity Loan or Line for any amount between $20,000 and $500,000.

Can I prepay my HELOC?

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.

Why does it say it will take 10 days to send my Bill Payment?

The date that is displayed is the estimated delivery date of the check, not the date the payment is sent from your account.

Can I withdraw my CD dividends?

Monthly dividends are available for withdrawal without penalty.

Do you have safety deposit boxes?

We currently do not offer safety deposit boxes at this time.

What is Direct Federal's lienholder information?

Direct Federal Credit Union

50 Cabot Street
Needham, MA 02494

Do you offer student loans?

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 >

View Personal Loans >

View Credit Cards >

What if I lose my Title after my loan is paid in full?

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.

Do you offer SBA loans?

Yes, we offer SBA loans!

Request more information >

How do I see what Bills I have being paid each month within Bill 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.


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