I have had a loan with them for nearly two years. The reasons I gave them a five-star rating are as follows: 1. They approved me when others would not. After my divorce my credit rating took a real hit, even though I had a long history of outstanding credit, they took this into consideration and approved my application with very little hassle. 2. Good interest rate...considering. I completed one of those, what-interest-rate-you-should-expect-to-pay forms on a financial web site and GM Financials rate was 3/4 of a point less than the financial site said I should expect to pay. 3. No problems since, easy online payment procedure.
Ratings by Category
Most Helpful Positive Review
Most Helpful Negative Review
I had an acount with DFCU for roughly 20 years. DFCU is a great place until you run into any hiccups with them (see 2 below). But still mostly a good place... hence me rating them 3 stars instead of 1.
About 10 years ago, I had moved away from Michigan but kept the account and some money in checking and saving. Using it for some online transactions. I kept enough in the accounts to ensure I was above minimual thresholds for fees and then ignored the accounts.
Recently (last year), DFCU decided to add a $25 fee for the Personal Line of Credit account (which had NO fees or thresholds associated to it up til now). I did not receive any notice (its possible I missed a note if it were added to the montly balance notices). I eventually received a letter from DFCU demanding immediate payment of $45.. $25 fee plus a $20 late fee, plus a threat of another late fee AND a threat of submitting this to the credit bureau. Talk about being blindsided with fees and threats.
I contacted DFCU and expressed my disatisfaction with lack of proper notification of fee changes and their immediate resorting to threatening credit over a late payment. My feedback was met with indifference, so I closed my account.
This experience reminded me of the only other negative experience I had earlier with DFCU that DID impact my credit. Almost 15 years ago, I had a late payment on a car loan with DFCU because my checking account ran too low and they couldn't automatically withdraw the amount required for the car payment (plenty of money was in my savings account, and I did have an overdraft protection with DFCU, but these were the early days of payment automation and somehow automatic withdraws were different than checks for activating the overdraft). I received a letter telling me the payment was late, so I made the payment. Years later when looking at a credit report, which was pretty much perfect, I saw I had a ding from my own bank (DFCU) on my credit report for that incident as a late payment. I was floored.