The DVA Federal Credit Union has a broad range of products and services to meet your financial needs.
Loan Programs
Savings Programs
Electronic Services
Additional Services
- American Express Traveler's Cheques
- Money Orders
- Notary Service
- Wire Transfer Service
- CU Call 24 hour Audio Response
- Savings Bonds
Loan Programs
First Mortgages
In the market for your first home, your dream home or a vacation retreat? If your answer is yes, we have affordable mortgages with highly competitive rates, low closing costs, and comfortable payments. We may approve you before you shop, and in some cases can lock in a rate free of charge for 45 days. We can also refinance your existing home, lower your rate, cut your payment, and save you thousands of dollars in interest.
Refinancing
With mortgage at an all-time low, it makes sense to refinance your mortgage to a lower rate.
We have mortgage representatives eager to do business with you. Find out how much you can save by refinancing. Or how much you can borrow. With many mortgage representatives standing by to offer you a great deal, youre bound to find what youre looking for.
Home Equity Loans
A home equity loan is one of the last great tax deductible* loans left and we can make it even more attractive. Apply today and borrow up to 100% of the value of your home, minus your first mortgage to consolidate your debts, make home improvements, pay for college, or enjoy a family vacation. You could possibly write off the interest you pay. Borrow the equity on your primary residence and all you pay is a minimal processing fee and appraisal fee, if necessary.
*consult a tax advisor regarding the deductibility of interest.
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Home Equity Line of Credit
A home equity line of credit is a form of revolving credit in which your home serves as collateral. Because a home is likely to be a consumers largest asset, many homeowners use their credit lines only for major items such as education, home improvements, or medical bills and not for day-to-day expenses.
New and Used Auto Loans
We offer 100% financing on both new and used car loans, and our terms and rates are among the best anywhere. We offer convenient services for automobile purchase:
- Pre-approved car loans obtain financing before you shop!
- MVCP (Motor Vehicle Certification Program), a free service to help you get the right price when buying or leasing a car or truck. Call a MVCP advisor at 1-800-345-0990 or use http://www.mvcp.comon the internet.
- UBS (United Buyers Service) a free buyer service in the Washington, D.C. and Baltimore areas. You can obtain a Purchase Certificate for your car at a pre-negotiated savings at an authorized UBS dealership.
- Extended Car Warranties - our Vehicle Assurance Protection Program offers two types of coverage for your vehicle. For new cars or cars with some remaining manufacturers warranty, we offer Bumper-to-Bumper coverage (general maintenance items are not covered). We also offer a named component coverage which covers only specific listed parts. Emergency road service is included in both types of coverage.
- Second Chance Loans refinance your new car within 180 days of purchase and less than 10,000 miles to qualify for new car loan rates.
CU Cash Revolving Credit lines
CU CASH is a revolving line-of-credit based on credit worthiness that may be used for any purpose. Advances can be obtained in person or through CU Call and they are deposited in your share draft account.
For members holding a share draft account, Overdraft Protection is a line-of-credit that covers your overdrafts or may be used as an instant loan. Advances are done automatically in $100 increments to cover your overdrafts.
Visa Credit cards (Classic and Gold)
Our cards have no annual fee, a low interest rate, and you earn airline and merchandise awards. They are accepted at over 14 million locations worldwide with access to cash at over 400,000 ATMs.
Share Secured, and Personal loans
A loan may be secured with your share savings, money market or certificate account. The interest rate is just 3% above the rate on the pledged shares. Your savings still earn full dividends but the pledged shares can not be withdrawn until the loan is repaid.
Savings Programs
Regular (share) Savings Account
This is a regular savings account in which you must maintain a minimum balance of $5.00 to be an active Credit Union member. Under this main account number, you may establish sub-accounts for share draft checking, other savings products and loans. Dividends are calculated on the average daily balance, and paid and compounded monthly. Balances under $100 receive no dividend.
Share Draft Checking Account
Your Share Draft checking account has no monthly service charges, no per check fees and no minimum balance requirement! DVA FCU logo checks are free. Share drafts are duplicate checks that produce an instant copy of each draft you write. You may choose to have your cancelled drafts returned with your monthly statement for a small fee or use the share draft copies to reconcile your account. In the case of overdrafts, we will transfer funds from your share account (savings) up to 6 times per month. You may also apply for an Overdraft Protection Line-of-Credit that not only covers your overdrafts, but also acts as an instant loan.
Hi-Yield Money Market Share Accounts
This is for the investor who wants higher dividends and the liquidity of a share account. A minimum of $2,500 is required to open an account. Dividends are calculated on the average daily balance, paid and compounded monthly. A bonus dividend is paid for accounts averaging over $20,000.
Holiday and Vacation Savings Clubs
Christmas and Vacation Club accounts are available to help you save money for the holidays or that well-deserved vacation. Deposits can be made when you desire or through payroll deduction. Christmas Clubs are distributed in late October into your regular share savings account. Vacation Clubs are distributed anytime you want. Dividends are calculated the same as the regular share savings account. No minimum balance is required to earn dividends.
Term Share Certificates (CDs)
These accounts offer our highest investment returns with terms from 6 months to 5 years and a minimum deposit of only $500. Interest is calculated daily, paid and compounded monthly. In addition the Credit Union offers a Trade-up certificate. This allows you to trade-up your rate to the prevailing rate one time during the term of the certificate.
Individual Retirement Account (IRA)
We have both share and certificate accounts available and offer Traditional, Roth, and Education IRA accounts. Dividends are calculated the same way as the regular share savings account or the certificate account as applicable. No fees or maintenance charges are assessed for IRA accounts. The IRA share account can be opened for as little as $5.00. IRA certificates have a $500 minimum.
Electronic Services
Direct Deposit
This allows your entire paycheck to go into your account and begin to earn dividends immediately. You may divide the deposit among your sub-accounts any way you wish. Direct deposit saves you time, keeps your money safe and you dont have to stand in line to deposit your paycheck.
ATM and Visa Debit Card Program
DVAFCU is part of the EXCHANGE and PLUS ATM networks. Withdraw cash 24 hours a day at over 80,000 PLUS locations worldwide. Call 1-800-237-ATMS to find the nearest EXCHANGE machine. Unlimited free transactions are offered to members at any of our 7 ATMS. We also permit 5 FREE withdrawals at other ATMs (surcharges are not covered). Our machines are located in the Washington, DC Renaissance Hotel and VA Main Office in Washington, D.C., the VA Medical Centers in Albany, Brooklyn, St. Albans, and Manhattan, N.Y., and at Fort Hamilton in Brooklyn, N.Y.
You can use your DVAFCU Visa Check card to get cash at over 400,000 PLUS and Exchange ATMs. And you can use it in more ways and at more places than your current ATM card. Just think of it as your ATM card and your checkbook rolled into one. Your Visa Check Card carries the VISA symbol, so its accepted everywhere VISA cards are welcome at more than 14 million merchant locations around the world. Its not a credit card; its a check card. Its called a check card because the money comes out of your Share Draft Checking Account just as it does when you write a check. Your VISA Check Card is hassle-free way to pay for your purchases. Theres no checkbook to carry. No check to write. No ID to show. No waiting for approval. So, youre in and out of stores in no time- just sign and go.
Online Banking
Free PC home banking is here. Now DVAFCU members can access their account with heir own personal computer. This service is FREE! It allows you 24-hour a day access to your account. Make inquiries, transfers, loan payments, withdrawals, etc. Our Bill Payer Service is also FREE make your monthly payments using your PC. You must have a share draft checking account to use this feature. You can also apply for a loan and order checks. To receive your software, stop by your nearest DVAFCU Branch Office and sign up.
Other Services
DVAFCU provides several other products at our branches. We sell and cash U.S. savings bonds, money orders, American Express Travelers cheques, incoming and outgoing foreign and domestic wires, cashiers checks and provide free notary service at most offices.
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