When it comes to managing your finances, choosing the right financial institution can make all the difference. The Department of Labor Federal Credit Union (DOLFCU) is a credit union that has been serving the Department of Labor community since 1935. In this article, we will provide an overview of DOLFCU, including its history, products and services, and membership eligibility.
History of DOLFCU
DOLFCU was founded in 1935 as the Labor Department Federal Credit Union. At the time, it was the first credit union to serve the Department of Labor community. In 1976, the credit union changed its name to the Department of Labor Federal Credit Union. Since its inception, DOLFCU has grown to over 5,000 members and has over $100 million in assets.
Products and Services
DOLFCU offers a wide range of financial products and services to its members, including checking accounts, savings accounts, loans, and credit cards. Here are some of the products and services that DOLFCU offers:
Checking Accounts: DOLFCU offers two types of checking accounts, including Basic Checking and Premier Checking. Basic Checking is a free account with no monthly maintenance fees or minimum balance requirements. Premier Checking offers higher interest rates and additional benefits, such as free checks and discounts on loans.
Savings Accounts: DOLFCU offers a variety of savings accounts, including Regular Savings, Money Market Accounts, and Share Certificates. Regular Savings is a basic savings account that earns interest. Money Market Accounts offer higher interest rates than Regular Savings and have tiered interest rates based on the balance. Share Certificates are fixed-term accounts that offer higher interest rates than Regular Savings or Money Market Accounts.
Loans: DOLFCU offers a variety of loan options, including personal loans, auto loans, home equity loans, and credit cards. Personal loans can be used for any purpose and have flexible repayment terms. Auto loans offer competitive rates and flexible terms. Home equity loans allow you to borrow against the equity in your home. DOLFCU credit cards offer competitive interest rates and rewards programs.
Membership in DOLFCU is limited to individuals who are affiliated with the Department of Labor. This includes employees of the Department of Labor and its agencies, retirees of the Department of Labor, and family members of current or eligible members. Membership is also open to individuals who work for select employer groups or associations.
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DOLFCU is a credit union that has been serving the Department of Labor community for over 85 years. With a wide range of financial products and services, including checking accounts, savings accounts, loans, and credit cards, DOLFCU is a great option for anyone looking for a reliable and trustworthy financial institution. If you are affiliated with the Department of Labor or one of its agencies, consider becoming a member of DOLFCU today.