Diamond Credit Union Routing Number
Written by
Karen Doyle
Edited by
Melanie Grafil
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Whenever you want to set up an automatic transaction to or from your checking account, you need to know the routing number of your financial institution. This number is printed on your checks; however, many people no longer use checks, so you may need to find your routing number another way.
What Is Diamond Credit Union’s Routing Number?
Diamond Credit Union’s routing number is 231385154. This routing number is used for both Automated Clearing House and domestic wire transfers.
What Is a Routing Number?
A routing number is a number used by the American Bankers Association — so it’s sometimes referred to as an ABA number, which identifies the bank.
When funds are transmitted electronically, the routing number identifies the sending or receiving bank, so that the funds come out of and go into the correct bank. Along with your account number, the routing number of your bank identifies your specific account.
What Does Diamond Credit Union Offer?
Diamond Credit Union is located in Pennsylvania, with branches in Berks, Montgomery, Chester and Bucks counties. If you live, work, worship, attend school or regularly conduct business in any of these counties, you can join the credit union.
Like all credit unions, Diamond Credit Union is owned by it’s members — in this case, 64,000 of them. There are no shareholders, so the credit union is operated for the benefit of its members.
Diamond Credit Union was founded in 1947. It now has eight branches and assets of over $1 billion.
Membership
To become a member of Diamond Credit Union, all you have to do is open a membership account with at least $5 deposit. You can then take advantage of all of the products and services offered by Diamond Credit Union.
Products and Services
Diamond Credit Union offers a complete menu of banking, lending and investment products and services for individuals and businesses.
For individual consumers, DCU offers checking and savings accounts, and money market accounts. Members can also get a health savings account, to deposit pre-tax money to pay for medical expenses not covered by insurance. Diamond Credit Union also offers share certificates, which are the credit union equivalent to a CD, or certificate of deposit, that you would get at a bank.
Diamond Credit Union has a mobile app and offers online banking. Members have access to over 50,000 ATMs with no fee through the Allpoint and CU$ networks.
Members of Diamond Credit Union can apply for mortgages, auto loans, personal loans and student loans through the credit union. You can also get a Visa Diamond credit card, with 1.99% APR for the first year and 1.5% cashback on all purchases.
Diamond Credit Union offer financial planning services through its Diamond Financial Planning division. Members can take advantage of wealth management and financial planning services, with securities and advisory services offered through LPL Financial.
The Diamond Credit Union website offers a variety of financial education and planning tools, including the Zogo financial education app, financial calculators, and even expert advice on preventing and managing financial fraud and identity theft.
For businesses, Diamond Credit Union offers business checking and savings accounts, a dedicated business services team, payment processing solutions,
Why Join a Credit Union?
Credit unions and banks have a lot in common, but they differ in important ways, too. Credit unions are owned by their members, while banks are owned by shareholders. This means that credit unions can typically offer better interest rates — higher on deposits, lower on loans — than brick-and-mortar banks, because they do not need to earn profits for their stockholders.
Credit unions typically service a specific demographic. In the case of Diamond Credit Union, that’s several counties in Pennsylvania. Some credit unions service people who work in specific industries or at a certain organization. They may have few branches, but there are nationwide ATM networks that credit unions share so their customers have access to their money no matter where they are.
Credit union deposits are not insured by the FDIC, as bank deposits are. They are insured by the National Credit Union Administration, or NCUA. The NCUA insures individual, joint and IRA accounts for up to $250,000 per depositor, per institution.
For many credit union members, the advantage to joining a credit union comes down to personal service. With a smaller customer base than the big banks, a credit union can get to know customers and their families, which can be very reassuring for some people.
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.
