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Frequently Asked Questions

Use the search bar below to sort through our library of FAQs to learn more about a specific product, service, or process.
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Do you offer 529 plans?

We currently do not offer 529 plans.

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Is there a credit card foreign transaction fee?

1% of each transaction in US dollars.

Do you offer Home Equity in my area?

Direct Federal lends on properties located in the following locations:

Massachusetts Counties: Norfolk, Middlesex, Suffolk, Plymouth, Essex, Bristol, Worcester, and Barnstable

Rhode Island Counties: All Counties in Rhode Island

New Hampshire Counties: Rockingham, Hillsborough, and Cheshire

What is the Recording fee for a HELOC?

$0 unless property is in a trust and/or there are unrecorded discharges that need to be recorded.

Do you offer land loans?

We currently do not offer land loans but please check back in with us in the future!

What if I want to send money to someone whose bank or credit union doesn't offer Zelle

You can find a full list of participating banks and credit unions live with Zelle® at Zellepay.com.

If your recipient's bank or credit union isn't on the list, don't worry! The list of participating financial institutions is always growing, and your recipient can still use Zelle® by downloading the Zelle® app for Android and iOS.

To enroll with the Zelle® app, your recipient will enter their basic contact information, an email address or U.S. mobile number, and a Visa® or Mastercard® debit card with a U.S. based account (does not include U.S. territories). Zelle® does not accept debit cards associated with international deposit accounts or any credit cards.

What does my credit score need to be to qualify for a mortgage?

Different Mortgage programs will have varying qualifications. Please contact a mortgage specialist to discuss your options.

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How do I get free checks?

You can get free checks with a Hub or Community checking account. Your initial check order is sent at the time the checking is opened. You can also reorder checks through online banking, our member service center, or in the branch.

I made a Loan payment, and I am still seeing a notification that my Loan is due. Did it not go through?

The notification will disappear once your payment has posted to the Loan. Please allow 4-5 days for your payment to process before queuing another payment.

I would like to open a home equity loan or line. What is the minimum or maximum amount I can apply for?

With Direct Federal, you can open a Home Equity Loan or Line for any amount between $20,000 and $500,000.

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