DFCU Financial Routing Number
Written by
Karen Doyle
Edited by
Melanie Grafil
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If you have an account at DFCU Financial and you want to set up direct deposit or an automatic bill payment, you’ll need the routing number.
DFCU Financial’s routing number is 072486791. This number is used for both automated clearing house and wire transfer transactions.
What Is a Routing Number?
A routing number is a nine-digit number that identifies a bank or credit union. It’s used to direct money transfers from one institution to another. Your personal bank account is identified by the combination of your bank’s routing number and your account number.
When you receive your pay by direct deposit, for example, your employer provides your bank’s routing number and your account number to their bank to facilitate the transfer of funds into your account.
About DFCU Financial
DFCU Financial was founded in 1950 as Ford Engineering Employees Federal Credit Union. To say its beginnings were humble would be an understatement – the original credit union had just seven members, each of whom put $5 in a cigar box to start the credit union. In the 1960s, the credit union became Dearborn Federal Credit Union, and it now has 240,000 members and $6 billion in assets.
Branch Locations
DFCU Financial now has branches in Metro Detroit, Ann Arbor, Lansing, and Grand Rapids, Michigan, as well as in Tampa Bay and Southwest Florida.
Membership
To become a member of DFCU Financial, you must live, work, or go to school in the Lower Peninsula of Michigan, or in the nine Florida counties that range from Tampa to Southwest Florida–Hillsborough, Pinellas, Pasco, Polk, Manatee, Sarasota, Lee, Collier and Charlotte.
How Is a Credit Union Different from a Bank?
Banks and credits unions offer many of the same products and services, but there are some important differences between the two types of financial institutions.
Ownership
Credit unions are owned by their members. When you join a credit union, you typically make a small deposit into an account to become a member. Any profit generated by the credit union is returned to its members in the form of higher deposit interest rates and/or lower loan interest rates.
Banks are typically public companies and are therefore owned by shareholders. Banks have an obligation to their shareholders to maximize their investment returns, so they may pay lower interest on deposits and charge more interest on loans to generate profits.
Membership
Credit union membership is typically limited to specific groups of people. In many cases, including DFCU Financial, membership is limited by geography. Members must live, work, or attend school in Michigan’s Lower Peninsula or in one of several Florida counties where the credit union maintains branches. Other credit unions may limit their membership to those engaged in certain professions. For example, Navy Federal Credit Union serves those who have ties to the armed forces, the National Guard or the Department of Defense.
Insurance
Banks and credit unions both insure deposits but through different agencies. Bank deposits are insured by the FDIC, while credit union deposits are insured by the National Credit Union Administration.
Deposits are insured up to the same limits by each agency. In both cases, deposits are insured up to $250,000 per account type, per depositor, per institution. This means that you can be insured for up to $250,000 in an individual account, up to $250,000 in a joint account, and up to $250,000 in an IRA account at a given bank or credit union. Once you exceed these limits in your account, it’s best to move some money to a different bank or credit union to ensure all your assets are insured.
FAQ
- What is the DFCU Financial routing number?
- The DFCU Financial routing number is 072486791. This is the number that is used for both automated clearing house and wire transfer transactions.
- Who is eligible for DFCU membership?
- To be eligible to be a member of DFCU Financial, you must live, work, or attend school in Michigan's Lower Peninsula, or in Hillsborough, Pinellas, Pasco, Polk, Manatee, Sarasota, Lee, Collier or Charlotte counties in Florida.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
