¹ Annual Percentage Yield (APY) is 3.25%. The Premium Money Market APY and Dividend Rate are in effect as of 6/1//2023 This offer may be discontinued by the Credit Union at any time. The minimum deposit to open a Premium Money Market Account is $500 and there is a minimum daily balance of $25,000 to earn the stated APY. If the balance in the Premium Money Market Account falls below $25,000 for any day during the month, no interest will be paid for that dividend period. The daily balance is the balance of your Account at the end of the day. Fees may reduce earnings. New money only. Federally insured by the NCUA.
² The Money Market APY and Dividend Rate are in effect as of 11/01/2022 Minimum average daily balance to earn APY: $500. The daily balance is the balance of your Account at the end of the day. Fees may reduce earnings. Federally insured by the NCUA.
Equal Opportunity Lender. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Credit unions are among the most well-capitalized financial institutions, maintaining equity reserves and investments that prioritize needed safety and soundness for their members.
Direct Federal is no exception to this. Our conservative balance sheet management and strong capital position of 11.5% (7% is considered well-capitalized in the industry) make us significantly different from financial institutions in the news.
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.
Administered by the NCUA, the Share Insurance Fund insures individual accounts up to $250,000. Additionally, a member’s interest in all joint accounts combined is insured up to $250,000.
The Share Insurance Fund also separately protects members’ IRA and KEOGH retirement 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.