Digital Federal Credit Union (DCU) is a

credit union A credit union is a member-owned nonprofit organization, nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts (savings accounts), share draft accounts (che ...

based in

Marlborough, Massachusetts Marlborough is a city in Middlesex County, Massachusetts, United States. The population was 41,793 at the 2020 United States census, 2020 census. Marlborough became a prosperous industrial town in the 19th century and made the transition to high ...

. It has over 1,025,000 members and is the largest

headquartered in

New England New England is a region consisting of six states in the Northeastern United States: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. It is bordered by the state of New York (state), New York to the west and by the ...

as measured by assets, managing over US $9.9 billion. DCU is regulated under the authority of the

National Credit Union Administration The National Credit Union Administration (NCUA) is an American government-backed insurer of Credit unions in the United States, credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. deposi ...

(NCUA) of the US federal government. DCU has nineteen full-service branches in

Massachusetts Massachusetts ( ; ), officially the Commonwealth of Massachusetts, is a U.S. state, state in the New England region of the Northeastern United States. It borders the Atlantic Ocean and the Gulf of Maine to its east, Connecticut and Rhode ...

and four full-service branches in

New Hampshire New Hampshire ( ) is a U.S. state, state in the New England region of the Northeastern United States. It borders Massachusetts to the south, Vermont to the west, Maine and the Gulf of Maine to the east, and the Canadian province of Quebec t ...

, although it has members in all 50 U.S. states. On September 30, 2024, DCU announced it was merging with First Tech Credit Union. The new credit union would retain DCU's charter while keeping First Tech's name. The merger is subject to regulatory approval from the NCUA and the anticipated integration date is late 2025. The merger will create the 6th largest Credit Union in the United States by assets, and a coast-to-coast branch network.

History

DCU was chartered in 1979 for employees of

Digital Equipment Corporation Digital Equipment Corporation (DEC ), using the trademark Digital, was a major American company in the computer industry from the 1960s to the 1990s. The company was co-founded by Ken Olsen and Harlan Anderson in 1957. Olsen was president until ...

following complaints to CEO Ken Olsen that employees had been having difficulty securing

mortgage A mortgage loan or simply mortgage (), in civil law (legal system), civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners t ...

References

External links

Official site
Digital Equipment Corporation Credit unions based in Massachusetts Banks established in 1979 {{US-bank-stub