DEARBORN, Mich., July 2022—For the fifth year running, Forbes
has ranked DFCU Financial as one of Michigan’s best credit unions. DFCU is the only CU in Michigan to have won this award all five years since its inception.
Today there are more than 5,400 credit unions in the U.S. with total annual revenue of $91 billion, according to IBISWorld. To determine these top credit unions in each state, Forbes went directly to members, partnering with market research firm Statista to conduct in-depth interviews of more than 26,000 U.S. citizens from all 50 states on their banking relationships.
Based on a 1-100 scale, scores ranged from 74.2 to 93.6, and just 3.4% of credit unions across the country made the cut for the best-in-state rankings. Respondents answered a detailed battery of questions focused in six separate facets of the relationship: Trust, terms & conditions (including reasonable and transparent fees), branch services, digital services, customer service, and financial advice.
DFCU has built a reputation and brand based on member service and financial expertise, and has ranked in the top 10 most-efficiently run credit unions in the country for two decades. “DFCU Financial strives to offer best-in-class service through long-established trust, product knowledge, and dedication to our members,” said President & CEO Ryan Goldberg. “We’re very proud to see our hard work validated with this award. More people are choosing credit unions in general, and DFCU specifically.”
As a member organization, DFCU shares its success in the form of a Cash Back payout and has reinvested more than $380 million in its membership since the program began in 2006. In 2022 alone, the payout to members was more than $36 million—a reward unparalleled in the country.
In the past, credit unions have traditionally been available only to specific groups. DFCU has an open membership, which means anyone living, working, attending school, or worshipping in Michigan’s Lower Peninsula is able to join.