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Personal and Business Banking

DCU's History – A Look Back

Digital Federal Credit Union, or DCU as it's become known to most of our members, was organized by Digital Equipment Corporation (DEC) in 1979. DEC, was one of the fastest growing computer companies in the world, and was looking to expand its list of employee benefits.

The thought was to offer employees the ability to do their personal banking at an employee owned financial service provider in the form of a credit union – owned by the employees or members. Since credit unions are not-for-profit financial institutions and all earnings after expenses are returned back to the members as lower loan rates, better savings rates, or as free or low-fee services, the idea was embraced wholeheartedly.

Digital Federal Credit Union received its federal charter from the National Credit Union Administration in October of 1979 and opened for business at two DEC facilities in Maynard, Massachusetts. From the beginning DCU grew rapidly.

In 1996, DCU opened in Merrimack, NH its first freestanding branch to better serve the families of DCU members and new sponsor companies. 19 years later, DCU now has 22 branches located in both New Hampshire and Massachusetts. DCU most recently opened a third branch in Worcester, MA.

In 1999, DCU officially changed its name to Digital Federal Credit Union. By keeping the word "digital", the credit union paid homage to its heritage for its long-time members, for newer members, it described the high-tech financial institution DCU has become.

From being the third credit union in the U.S. with a web site to being one of the first financial institutions to debut an iPhone and Android application that allows members to make a check deposit by taking a picture of their check, DCU is dedicated to providing members with convenience, cost effective banking options, and innovative technology.

Thanks largely in part by word of mouth and the loyalty of members, DCU has grown to become the largest credit union in New England and in the top 20 nationwide. With over 500,000 members in all 50 states, DCU stands committed to improving the lives of all its members by offering unparalleled products while retaining its members are our number one priority.