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Frequently Asked Questions
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.
There is no over limit fees.
Funds cannot be added to an existing CD Share Certificate.
You have 60 days. If, for whatever reason, you do not use the loan during that time period and need another one, simply call us at 781.455.6500.
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
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.
Our Routing & Transit Number is: 211381783
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.
No. Using the calculator does not affect your credit score and does not initiate a credit inquiry.
Submit an application online or call to speak with Mortgage Loan Officer.
If you accidentally opted of out text alerts from a mobile phone, when the digital system calls to verify activity, the system will provide the opportunity to opt back into text alerts for the mobile phone. For all fraud alert types, please call the number on the back of your card to re-enable fraud alerts to an email address, a mobile phone or landline phone number. You can also visit a branch for assistance.
Direct Federal lends on properties located in the following locations:
Massachusetts Counties – Barnstable, Bristol, Essex, Middlesex, Norfolk, Plymouth, Suffolk, and Worcester County.
New Hampshire – All Counties in New Hampshire.
Rhode Island – All Counties in Rhode Island.
We currently do not offer VA loans.
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 >
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.
If you want flexibility and ongoing access to funds, a Home Equity Line of Credit (HELOC) may be the better fit. If you prefer a fixed payment and know exactly how much you need, a Home Equity Loan (HELOAN) may make more sense.
HELOC
Best for ongoing or uncertain expenses. Variable interest rate.
HELOAN
Best for one-time projects/lump sum upfront. Fixed interest rate.
Your card may be blocked for use and future transactions would be declined until the fraud alert is cleared.
We currently do not offer safety deposit boxes at this time.
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.
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.
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.
A Returned Deposited Item (RDI) - is a check that has been returned to a depositor because it could not be processed against the account which it was drawn on. Deposited items can be returned for many reasons, such as insufficient or unavailable funds (funds on hold), stop payment, closed account, missing signature, etc.
If you are adding, changing, or removing a name on the title, you can submit a name change request through Online Banking or by calling our Contact Center at 888.2DIRECT.
IMPORTANT: Direct Federal cannot process the name 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 name change at the RMV. We will mail the title and permission letter to the address you have on file with us. Then bring those documents to your RMV so they can process the name change and send the title back to us.
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.
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.
1% of each transaction in US dollars.
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.
Applicants under 18 require a joint owner on the account.
You can reset your password.
Reset Password >
If you are locked out of your account please call us at 888.2DIRECT.
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.
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.
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.
Please visit:
www.myinsuranceinfo.com
You can submit a Stop Payment Request through Online Banking via Tools > Check Services.
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.
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
You can only cancel a payment if the person you sent money to hasn't yet enrolled with Zelle®. To check whether the payment is still pending because the recipient hasn't yet enrolled, you can go to your activity page, choose the payment you want to cancel, and then select "Cancel This Payment". If you do not see this option available, please contact our customer support team at 7814556500 for assistance with canceling the pending payment.
If the person you sent money to has already enrolled with Zelle®, the money is sent directly to their bank account and cannot be canceled. This is why it's important to only send money to people you trust, and always ensure you've used the correct email address or U.S. mobile number when sending money.
If you sent money to the wrong person, please immediately call our customer support team at 7814556500 so we can help you.
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.
Different Mortgage programs will have varying qualifications. Please contact a mortgage specialist to discuss your options.
Send message to Mortgage Specialist >
You can borrow 120% of the value of your car (subject to our maximum auto loan limit of $100,000). This allows you to finance the entire purchase price, plus GAP insurance and the sales tax.
Bill Pay allows you to pay all of your bills, outside of Direct Federal Credit Union, in one place. Your payments will be delivered electronically or by check depending on the recipient. You can schedule one-time or recurring payments.
Rates vary based on your creditworthiness. The rate can vary monthly and is based on the Prime rate published in The Wall Street Journal.
We currently do not offer FHA loans.
Any phone numbers that Direct Federal has in your records may be sent alerts.
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.
There are no closing costs.
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.
We offer a variety of options to pay a Direct Federal Loan or Line of Credit.
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.
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!
There are no balance transfer fees.
Information on your rights to dispute transactions and how to exercise those rights is provided in the Agreement.
A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by your home. It lets you borrow what you need, when you need it, up to your approved credit limit. During the draw period, you typically make interest‑only payments on what you’ve borrowed. Once the draw period ends, the remaining balance transitions into repayment over a set term.
There is no annual fee.
You can find your account numbers within Digital Banking under Account Details.
View Account Information >
CD dividends are compounded daily and posted monthly.
Agree to receive your monthly statement through email (e-Statements)
AND
- One direct deposit into your account a month
OR - Five or more debit card transactions per calendar month.
(Excludes ATM + Zelle transactions)
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 >
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.
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 can find a full list of participating banks and credit unions live with Zelle® at Zellepay.com.
If your recipient's bank or credit union isn't on the list, don't worry! The list of participating financial institutions is always growing, and your recipient can still use Zelle® by downloading the Zelle® app for Android and iOS.
To enroll with the Zelle® app, your recipient will enter their basic contact information, an email address or U.S. mobile number, and a Visa® or Mastercard® debit card with a U.S. based account (does not include U.S. territories). Zelle® does not accept debit cards associated with international deposit accounts or any credit cards.
Yes. Most HELOCs have variable interest rates that can change based on the Prime Rate. A rate change will affect your monthly payment.
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.
It takes about five minutes to apply and you will have an answer within one business day.
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 >
The Home Equity grace period is 10 days.
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.
You can request a Home Equity Line of Credit and Credit Card increase through Online Banking.
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. Home Equity Line Refinances/Increases have a $295 fee.
Click here to apply to refinance/increase your existing Home Equity Line >
We will not transmit sensitive personal information through alerts.
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.
You may finance automobiles, SUVs, pickup trucks, and minivans for consumer use. For commercial vehicles, visit the Business Loans page.
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.
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.
There is no cash advance fee.
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.
Monthly dividends are available for withdrawal without penalty.
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
We currently do not offer 529 plans.
View our banking account options >
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.
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.
The calculator assumes standard HELOC terms, including a variable interest rate, interest‑only payments during the draw period, and repayment of principal and interest during the repayment period. Actual terms may differ based on your specific loan agreement.
Yes. HELOC rates are variable and may change as the Prime Rate changes.
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 >
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.
We currently do not offer Educational Savings Accounts.
View our banking account options >
We currently do not offer Health Savings Accounts.
View our banking account options >
For primary residences, eligible borrowers may access up to 80% of their home’s combined loan‑to‑value (CLTV).
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.
Dividends start to accrue on the date the account is funded.
Yes, we do finance commercial vehicles!
View Business Loans >
Please call us at 888.2DIRECT.
Yes! The Joint account holder can create their own user login.
$395 if the line is closed during the first two years.
The date that is displayed is the estimated delivery date of the check, not the date the payment is sent from your account.
Final payments may differ due to changes in the Prime Rate, approved loan amount, property value, credit profile, or selected repayment options.
Our live chat platform supports the talk-to-text (dictation) feature available on your smart device. To use talk-to-text to chat with one of our live associates click on the “live chat” button found on the bottom left of your screen. Upon establishing a connection with a live chat associate, you may initiate the use of the talk-to-text feature.
The method for accessing the talk-to-text feature on your device's keyboard may vary depending on the type of smart device you are using. To assist you in locating the talk-to-text feature on your device, we have provided additional resources below.
Click here for Apple Keyboard
Click here for Google assistant (gboard)
*Other keyboards may support this feature. Contact your phone provider for additional assistance.
If your payments are on time, there are no fees.