For the fourth consecutive year, Forbes has ranked DFCU Financial as one of Michigan’s best credit unions. DFCU is the only CU in Michigan to have won this award all four years it’s been given.
To gauge which firms have the most satisfied customers, Forbes partnered with market research firm Statista to survey nearly 25,000 people in the U.S. about their banking relationships. Consumers were asked 20 questions about their financial dealings. The credit unions were rated on overall recommendations and satisfaction, as well as five subdimensions (trust, terms and conditions, branch services, digital services, and financial advice).
Overall scores ranged from 77.38 to 95.63. Only 3.6% of America’s credit unions made the list.
“Because DFCU Financial always strives to offer best-in-class service through established trust, product knowledge and dedication to our members, we’re very proud to see our work validated,” said President & CEO Mark Shobe. “More and more people are choosing credit unions in general and DFCU specifically for our strong community focus, financial education, and personalized service.”
DFCU Financial has built a reputation and brand based on customer service and financial expertise and has ranked in the top 10 most-efficiently run credit unions in the country for several years running. Since 2001, the $6.2 billion credit union has grown more than 358 percent in assets and 636 percent in net income.
As a member organization, DFCU shares its success in the form of a Cash Back payout and has reinvested over $330 million in its membership since the program began in 2006. In 2020 alone, the payout to members was more than $32 million—a reward unparalleled in the country.
In the past, credit unions have traditionally been available only to specific groups. DFCU has an open membership, which means anyone living, working, attending school, or worshipping in Michigan’s Lower Peninsula is able to join.