Denver Community Federal Credit Union

Overview and Eligibility

Denver Community Federal Credit Union (DCFCU) started in 1934 as the Municipal Employees Credit Union of Denver. In 2000, they achieved community charter status, expanded and were approved to serve the communities of Denver. Therefore, anyone who works, worships, attends school or lives in either the City or County of Denver is eligible to join denver community federal cu. They tend to drop the "federal" part of their name for marketing purposes, and are known as Denver Community Credit Union on their website and literature. The term federal means that member deposits up to $250,000 are federally-insured by the National Credit Union Share Insurance Fund and regulated by the National Credit Union Administration. To join NCFCU, members pay a one-time $5.00 membership fee and deposit $25.00, which remains in the share account for the duration of the membership.

Checking and Home Banking

The majority of Denver Community Federal Credit Unions' checking accounts feature a no minimum balance requirement, a free box of standard checks with no per check charges, free 24-hour online and phone access, and a free Visa Debit card. If you sign up for E Checking, you are entitled to electronic statements, free bill payer, as long as you direct deposit your pay check, and they also offer a line of credit facility for direct deposit customers. For a small charge of $1.96 per month, DCFCU offers an identity theft service. E checking customers can also enroll in the mobile phone banking service. The type of checking account offered to members will depend on their credit worthiness.

Credit Cards and Loans

The Visa Platinum card can be offered to members at as low an interest rate as 8.25% APR, and includes access to the Rainbow Rewards program which gives up to 20 % discount on a range of consumer products. In addition, there is the Visa check card, free with the checking account and allowing access to all CO OP network ATM's. Finally, for members with credit problems, there is the Stored Value card, a card which is preloaded with money, and can be used as a credit card, without the risk of overdrawing. To assist customers with adverse credit to buy a car, Denver Community Federal Credit Union has a scheme called the Passtime Auto loan. The car under this scheme has a starter interrupter device installed, which allows the vehicle to remain operational as long as the loan payments are being made. The owner types a password supplied by Denver Community into the device after each monthly payment; no payment, no password, the car will not start DCFU also have a program called CLEAR MONEY, which is a program of financial support and education free for their members, they clearly have a commitment to helping members who are struggling financially.


Source: Credit Cards For People With Bad Credit Rating

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