Frequently Asked Questions About Certificates of Deposit
For existing members, please click the link here. If you’re not a member yet, please join and apply now using the link here or call us at 202.808.3600.
$500.00 is the minimum required amount to open a CD.
- 6 months
- 12 months
- 24 months
- 36 months
- 48 months
- 60 months
- If you are a Bronze Member, you will receive an additional .05 basis points in addition to any of our current rates.
- If you are a Silver Member, you will receive an additional .10 basis points in addition to any of our current rates.
- If you are a Gold Member, you will receive an additional .25 basis points in addition to any of our current rates.
- In addition to the Relationship Rewards levels above, if the initial deposit is $25,000 or more, you will receive an additional .10 basis points.
- You can close your CD at any time; however, you will be subject to the following penalties if you are outside of the 10 days of opening of the CD or renewal/maturity date:
i. 6-11 months: The penalty is the first 90 days of dividends.
ii. 12-84 months: The penalty is the first 180 days of dividends.
Frequently Asked Questions About Savings Accounts
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Yes, the initial funding amount is $5.00, and it remains on hold until the overall account is closed.
The basic coverage available to members of a federally insured credit union is as noted below:
Yes, according to Federal Regulation D, you can withdraw from your Savings Account 6 times per month.
Yes, your Savings Account is automatically linked to your Checking Account to cover any overdrafts up to 6 times per month.
Frequently Asked Questions About Checking
The process is simple – you can convert and keep all your existing checking account products! All you have to do is give us a call at 202.808.3600 or 888.626.9845. You can also fill out a Contact Us form and we will contact you during our business hours.
- High-dividend on balances up to $20,000
- Free Online and Mobile Banking
- Free Online and Mobile Bill Pay
- Free Finance Works Financial Management Tool
- Free online Debit Rewards
- Make 12 debit card purchases. Transactions must post before the end of the month.
- Receive your monthly account statement electronically.
- Set up a direct deposit.
- Login to mobile/online banking at least once during the month.
The qualifications must be met each month.
Your checking account is still free but you will not be paid dividends. You will be able to start over the next month to earn benefits.
Frequently Asked Questions About Home Equity
$350,000.00, anything more will need to be reviewed by DOCFCU Credit Committee.
Unfortunately, DOCFCU does not offer a fixed rate Home Equity Line of Credit.
Yes, both applicants need to be a Credit Union member. They can be joint on the primary applicants account or have/open own Credit Union account.
The process can take 4-6 weeks start to finish. It really will depend on how fast the member submits the required documents to get the process started.
No. The loan has to be placed on an owner occupied primary residence.
Frequently Asked Questions About Consumer Loans
To apply for a loan please visit our website at https://www.docfcu.org/lending/ or call 202.808.3600
Your member number can be found on your Welcome Letter that was sent to your email via DocuSign when your account was established. Alternatively, if you do not have access to your Welcome Letter please contact us at service@docfcu.org or call 202.808.3600
To take advantage of DOCFCUs competitive products and services, you will need to establish a DOCFCU Savings Account as a part of becoming a member of the credit union. The savings account has no minimum balance no monthly maintenance fee.
Using Internal Account: To make a one-time payment, or to set up recurring payments online using an internal account, visit www.docfcu.org, login to your account, click “Move Money,” then “Schedule a Transfer” to begin the process.
Using External Account: To make a one-time payment, or to set up recurring payments online using an external account, visit www.docfcu.org, login to your account, click “Move Money,” then “Loan Payment” to begin the process.
By Mail: When making a payment by mail, you will need to refer to your Loan Number. Please send your loan payments to:
Department of Commerce FCU
Attn: Member Services
P.O. Box 14720
Washington, DC 20044-4720
Overnight Address
Department of Commerce FCU
Attn: Member Services
HC Hoover Bldg. Room B0038A
1401 Constitution Ave NW
Washington, DC 20230
DO NOT SEND CASH THROUGH THE MAIL
Your Check or Money Order is your receipt
To verify that you are set up on autopay please contact us at service@docfcu.org or call 202.808.3600
After your loan signing you can expect your loan to be funded within 2-5 business days.
DOCFCU Account Funding: Same Business Day
External Account Funding: 2-5 Business Days
By Check Funding: 2-5 Business Days