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Frequently Asked Questions

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Do you charge to use the coin machine at the branch?

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.

How are Money Market dividends compounded?

Money Market dividends are are compounded monthly, and posted monthly.

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.

Do you offer HSAs?

We currently do not offer Health Savings Accounts.

‍View our banking account options >

Is the fraud alert service safe and secure?

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.

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What is considered a "new auto" versus a "used auto"?

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.

Do you offer Youth Accounts?

Applicants under 18 require a joint owner on the account.

How can I check the status of an application?

If you are an existing member, the easiest way to check the status of an application is through the Application Center within Digital Banking.

Check Status as a Member > ‍


If you are not a member, please visit our Application Status Center.

Check Application Status >

Is there a credit card annual fee?

There is no annual fee.

Can my card be added to a digital wallet?

Yes, Direct Federal debit and credit cards can be added to Apple Pay, Google Pay, and Samsung Pay.

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