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DFCU Financial history
DFCU Financial company history timeline
DFCU Financial, born in 1950 as Ford Engineering Employees Federal Credit Union and started with a cigar box with $5 from each of the seven charter members, has since grown to a $5 billion organization with nearly 230,000 members.
But In 1958, it became the first to launch a revolving signature loan.
In 1974, DFCU would become one of only three credit unions in the United States to pilot a share draft (checking account) program that would revolutionize the credit union movement.
Another innovative concept co-founded by DFCU was Service Center Corporation in 1975.
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In 1997, DFCU surpassed $1 billion in assets.
And in 1999, DFCU introduced online account access and bill payment to members.
In 2001, DFCU Financial Partners, an investment advisory services division, is introduced.
In 2003, the credit union renamed itself DFCU Financial.
DFCU Financial’s assets exceed $2 billion in 2006, with record earnings for the year.
The Dodd-Frank Wall Street Reform and Consumer Protection Act (signed into law on July 22, 2010) permanently increased NCUA insurance coverage to $250,000 in deposits.
Since then, DFCU has continued to pay members this Cash Back award every January, totaling more than $360 million as of 2022.
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DFCU Financial competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| City National Bank | 1953 | $368,138 | 3,000 | 828 |
| Ocwen Financial | 1988 | $1.1B | 6,400 | 4 |
| Lake Trust Credit Union | 1944 | $75.0M | 391 | 18 |
| First Merchants | 1893 | $556.0M | 1,918 | 168 |
| Del-One Federal Credit Union | 1960 | $6.1M | 571 | - |
| Old National Bank | 1834 | $347.9M | 2,901 | 613 |
| Fifth Third Bank | 1858 | $7.7T | 19,846 | 820 |
| Susquehanna River | - | $1.2M | 3,000 | 12 |
| Digital Federal Credit Union | 1979 | $310.0M | 875 | 29 |
| UW Credit Union | 1931 | $434.2M | 701 | 6 |
DFCU Financial history FAQs
Zippia gives an in-depth look into the details of DFCU Financial, including salaries, political affiliations, employee data, and more, in order to inform job seekers about DFCU Financial. The employee data is based on information from people who have self-reported their past or current employments at DFCU Financial. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by DFCU Financial. The data presented on this page does not represent the view of DFCU Financial and its employees or that of Zippia.
DFCU Financial may also be known as or be related to DFCU Financial, Dearborn Financial Credit Union Inc and Dfcu Financial.