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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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Do you have safety deposit boxes?

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

Are there closing costs for a HELOC?

There are no closing costs.

Are my deposits insured?

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.

What is the Recording fee for a HELOC?

$0 unless property is in a trust and/or there are unrecorded discharges that need to be recorded.

What are fraud alerts?

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.

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.

How do I make a payment on my Direct Federal Loan from another financial institution?

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.

Where do I access Bill Pay?

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.

How do I know what the Principal and Interest breakdown is on my loan payment?

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.

Are properties in a trust eligible for a HELOC?

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.

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