Forbes Ranks DFCU Financial Best-in-State

Forbes Ranks DFCU Financial Best-in-State
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.

 

NCUA Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.

 

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*APY = Annual Percentage Yield. Paid and compounded quarterly. Dividend rates are determined by the principal balance when your certificate is opened. Dividend payments will not affect the dividend rate during the term even if the minimum balance for the next tier is met. Rates subject to change without notice at any time. Penalties may apply for early withdrawals. DFCU Financial deposit products are insured by the NCUA.

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While the DFCU Financial Board of Directors intends to pay Cash Back every year, and has done so since 2007, Cash Back is not guaranteed and will depend on our financial performance and other factors. Annual Cash Back payments are limited to an aggregate of $10,000 for each tax-reported owner. The IRS requires that Cash Back for an IRA be paid to the same IRA, and that it be open when Cash Back is deposited. Cash Back to Commercial / Business Banking members is subject to additional terms. Anyone who causes DFCU Financial a loss for any reason is not eligible for Cash Back.