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INSIGHTS & INFORMATION

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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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How do I set up Recurring Payments?

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.

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What documentation is required to close a home equity loan or line?

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.

I accidentally marked a valid transaction as fraudulent. What do I do now?

When you mark a transaction as fraudulent, the response message you receive will include our fraud detection department’s toll-free number and it asks that you call to review the card activity, or you will receive a call from a fraud detection agent to review. The agent will be able to review the activity with you and clear the card for use.

Can I get the introductory rate on my existing Home Equity Line of Credit?

Only new HELOCs are eligible for the introductory rate. Increases/refinances of an existing HELOC at Direct Federal do not qualify.

Do you offer loans for commercial/business vehicles?

Yes, we do finance commercial vehicles!

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What if you do not receive my Title with Direct Federal listed as lienholder?

You will receive three letters notifying you that your title, with Direct Federal listed as lienholder, has not been received. If the title is not received within 90 days of your loan funds being disbursed, your interest rate may be increased to 18.00% APR (Annual Percentage Rate). Once we receive the perfected title, we will revert the rate to the rate on your loan agreement. This will not affect your credit history.

What happens if interest rates change between the time I apply and the time I purchase a vehicle?

If rates rise from the time you apply until the time you use your loan, you will get the lower rate that was in effect when you applied. If rates fall from the time you apply until the time you use your loan, you will get the lower rate in effect at the time of purchase.

Can I withdraw my CD dividends?

Monthly dividends are available for withdrawal without penalty.

Do you offer GAP insurance?

Yes, you can add GAP insurance to any auto loan for a low flat rate of $395. Learn more about GAP >

What phone number(s) will receive fraud alerts?

Any phone numbers that Direct Federal has in your records may be sent alerts.

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