2023 Overview
General Credit Union Information
Department Of Commerce is an NCUA insured institution located in Washington, DC. It was founded in 1964 and has approximately $849.28 millions in assets.
Who can join?
If you live, work, worship or attend school in Washington, D.C., or if you are employed by the Department of Commerce* or the National Oceanic and Atmospheric Administration (including contractors), or if you are retired as a pensioner or annuitant from the aforementioned organizations, you’re eligible to become a member of DOCFCU.
*With the exception of employees of the Patent and Trademark Office, the National Institute of Science and Technology and the Bureau of the Census.
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 16410 |
| Date Established | 1964 |
| Assets | $849.28 million |
| Loans | $752.60 million |
| Deposits | $747.92 million |
| Capital | $74.34 million |
Field of Membership Restrictions
Deposit Rates - June 7, 2023
Your Current Location: Virginia, VA 20146
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| Online CD
|
4.35% | $500 | - |
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|
| 1-Year CD
|
4.34% | $500 | - |
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|
| 18-Month CD
|
4.34% | $500 | - |
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|
| 3-Year CD
|
4.55% | $500 | - |
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|
| 4-Year CD
|
4.59% | $500 | - |
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|
| Online CD
|
4.67% | $500 | - |
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|
Loan Rates - June 7, 2023
Your Current Location: Virginia, VA 20146
There are currently no loan rates available for Department of Commerce
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Virginia 30 Year Fixed Mortgage Rates 2023
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 401822 |
5.921% | 5.750% | 0.88 | $4,688 | $1,459 | Learn More |
NMLS ID: 2890 License#: MC-3098 |
6.367% | 6.250% | 0.88 | $3,095 | $1,540 | Learn More |
NMLS ID: 1907 |
6.794% | 6.625% | 0.75 | $4,375 | $1,601 | Learn More |
NMLS ID: 1984206 License#: #: MC-7440 |
7.167% | 6.999% | 1.00 | $4,492 | $1,664 | Learn More |
Featured - Virginia Home Equity Line Of Credit Rates 2023
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|
Note to Department of Commerce
To upload and update your bank's rates please register.
It is free to register and add rates.
Branches
Below are Department Of Commerce branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Ashburn,Virginia
Climate Initiatives
Department of Commerce is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
Financial Details
Department Of Commerce Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Department Of Commerce. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Department Of Commerce | U.S. Average |
|---|---|
| 6.35% | 5.90 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of December 31, 2022, Department Of Commerce had $4,897,128 in non-current loans and $0 in owned assets. To cover these potential losses it had $74,340,911 in net worth and $2,791,357 in loans loss reserves. That gives it a Texas Ratio of 6.35%.
Net Worth
| Department Of Commerce | U.S. Average |
|---|---|
| 9.25% | 12.75% |
Department Of Commerce FCU has a net worth of 9.25% versus the BestCashCow average of 12.75. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Department of Commerce
member
December 14, 2022 |
Agree with Jaben to stay away from docfcu. They don't appreciate loyal members and easily turn down any requests after a delayed response. I have closed my accounts and moved my funds to better institutions with 24x7 customer service and peace of mind.
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Jaben
November 14, 2022 |
Refused to waive penalties when I asked to move my CD into another 5 year CD in their institution prior to maturity, rather than withdrawing and placing in another bank. It took me several weeks to get a response to this question because I had to 1st start with a customer account rep and then ask someone higher up.
Other banks and credit unions waive fees if you keep the money in their bank, so I would stay away from this credit union if you want real customer service. They don't value anyone's patronage.
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