Overview of the Directions Credit Union
Directions Credit Union, Inc. or, Directions operates as a community-based credit union, with a motive to serve the financial needs of its members.
Since 1953, Directions has a mission to help its members achieve their financial dreams. There are 11 branch locations in the Toledo Area and 9 branch locations in Central Ohio.
Directions offer a full array of financial services including savings, checking, investments, auto loans and leasing, mortgage, and home equity loans, credit cards, personal loans, and business services and much more.
These offerings regularly feature better rates and lower fees than traditional banks. Directions serve over 100,000 members and manages a collective asset of more than $864 million.
History of Directions Credit Union
The Union was founded in 1953 as St. Clements Credit Union, in St. Clement’s Church in Toledo. The credit union changed its name to Toledo Area Catholic Credit Union, Inc., (TACCU) in 1989.
Again, in April 2008, TACCU changed its name to Directions Credit Union.
Over the years, the credit union has grown manifolds in both size and goodwill, to become one of the largest credit unions in the State of Ohio.
Today, DCU has an asset size of more than $864 million and serves approximately 100,000 members across Ohio and Michigan.
Membership of The Union
Membership is very easy to get and is available to persons who live, work, worship, attend school or volunteer in Wood, Fulton, Lucas, Huron, Ashland, Richland, Wayne, Knox, Tuscarawas, and Crawford Counties in Ohio and Monroe County in Michigan.
Basic Characteristics of Directions Credit Union
The Union offers its members, traditional checking and savings services, business and personal financing, savings options for major life events such as paying for a new home or car, the birth of a baby, college tuition, retirement, etc.
Directions Credit Union offers a variety of financial services, including loans for equipment and other capital expenses, as well as refinancing options, lines of credit and much more to turn a small- and medium-sized business into an enterprise.
Timeline of DCU
Here, we will try to highlight the major events happening in the organization since its inception in 1953, until today:
1953 – Toledo, Ohio — A group of parishioners at St. Clement’s Church establishes Toledo St. Clement Credit Union, Inc. Their Headquarters is in a church office.
1967 – The credit union moves into its own building on the grounds of St. Clement’s Church.
Membership is widened to include three additional parishes: Blessed Sacrament, Regina Coeli and St. Catherine Church
The 1970s – Continued growth of the Union was observed as more parishioners learned of the credit union’s high savings rates and lower loan rates.
The Early 1980s – Membership was widened to include an additional 12 parishes. Seven small credit unions also merged with St. Clement Credit Union.
Smaller employee groups were even selected to join the field of membership.
The Mid-1980s – Membership of Directions Credit Union grew tremendously.
The credit union starts offering a multitude of additional services including checking accounts, certificates of deposit, IRA’s, first mortgages, home equity loans, and a VISA credit card.
1989 – Opening up of New branch in Sylvania, Ohio. More importantly, to accommodate and represent more than two decades of member growth beyond the original parish, the credit union changed its name to Toledo Area Catholic Credit Union, Inc., (TACCU).
1990 – The Second branch of TACCU in Toledo opened.
1992 – New main office opens on Whiteford Road in Toledo.
1999 – Membership of TACCU grew to 32 parishes and 46 select employee groups.
2000 – Transformation of TACCU into a community credit union served those who lived, worked, worshipped or attended school in the City of Toledo.
2001 – Expansion of the Charter to the City of Sylvania, Sylvania Township and the City of Maumee. Holy Rosary Cathedral Credit Union merged with TACCU.
2005 – TACCU merged with Empire Affiliates Credit Union which expanded its reach to nine counties in Ohio.
2007 – Directions merged with Knox County Credit Union which gave it more than $350 million in assets and over 200 employees.
2008 – Directions merged with Erie Shores Credit Union which gave it 22 branches in Ohio and expanded assets worth $500 million with 250 employees.
April 2008 – TACCU changed its name to Directions Credit Union.
2017 – Merger of DCU with Toledo Teamsters Federal Credit Union.
Today – At present, Directions has an asset size of more than $864 million and serves approximately 100,000 members across Ohio and Michigan.
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Salient Features of the Directions Credit Union
Directions Credit Union has an innumerable number of features, which has made life easier for its members:
Helpful Business Services
- Accessible Electronic transfers and wire services
- Various Financial planning services
- Innumerable Discount brokerage services
- Number of Qualified plan services
- Important Employee financial services
- Cash vault services
- Free online banking and email alerts
Remote Deposit Capture
The Directions mobile banking app gives its members 24×7 access to a quick, secure, and easy way to deposit their checks remotely.
Members can deposit their business checks without leaving their offices.
Directions Online Banking Features
- Viewing account information
- Paying bills
- Opening new accounts
- Getting e-statements
- Applying for loans
- Transferring money between accounts
- Managing VISA Rewards credit card and rewards points
- Redeeming VISA Rewards points
- Setting up and manage account alerts (text and email)
Directions Business Checking
- Online and mobile banking
- Account alerts
- Debit card rewards
- Nationwide ATM network
- Overdraft protection
- Instant VISA credit card approval with a $500 limit with a credit score of 650 or more
Commercial Real Estate Loans
Directions provide loans (owner-occupied, and investment) for the purchase or refinance of commercial or industrial property of up to $7.5 million.
The loan is offered at competitive interest rates, flexible terms, locally serviced, fast and efficient.
Membership Perks of the DCU
One can gain access to an innumerable number of members perks and discounts by becoming a member of the Directions Credit Union, like:
Directions members can get discount on TurboTax preparation software.
TurboTax searches more than 350+ tax deductions and credits to find every tax, one qualifies so as to get the guaranteed maximum refund.
- Love My Credit Union Rewards
Directions members can save a lot of money when they use Sprint. They gain huge access to exclusive deals, data plans and much more.
Directions members can make major savings on car and home insurance, uniquely designed and priced for credit union members.
- Toledo Walleye
Fans of ice hockey, who are also members of the Directions can save some bucks while buying Toledo Walleye tickets. Tickets, can either be purchased online or at the box office.
- Hensville Park Concert Series
Directions members can avail discounted tickets, which would give them unrestricted access to the great live acts at Hensville Park.
Routing Number of the Directions Credit Union
The routing number of the Directions Credit Union is 241282577. This number can be used for the purpose of hassle-free direct deposit.
Working Hours of the Directions Credit Union
Directions Credit Union working hours are as follows:
From Monday to Thursday,
8:30 am to 5:00 pm
8:30 am to 6:00 pm
9:00 am to 12:00 pm
Remarkable Activities of the Directions Credit Union
Directions Credit Union emphasizes on improving the lives of its members as well as those who live in their communities. They try to emulate the basic principle of Credit Unions, i.e., “People helping people “.
Their every step is directed towards achieving the same. Directions support the communities through financial literacy education, in-kind donations, scholarship support and much more.
- Financial Literacy
Directions annually offer approximately 365 hours of financial education events to more than 8,500 participants at libraries, schools, churches, senior centers, and correctional facilities, etc. in their communities.
They try to provide a full array of information pertaining to the financial topics, namely, budgeting, identity theft, understanding credit.
Around $1,000 is provided annually by Directions in the form of scholarships to students who possess a passion for helping others It is available in two types:
a) The Directions Credit Union High School Scholarships
It consists of three, one-time, $1,000 scholarships awarded yearly to students in the ninth to twelfth grade.The scholarship is paid directly to the school and then applied to the forthcoming school year tuition.
b) The Directions Credit Union Post Secondary Scholarships
It consists of three, one-time, $1,000 scholarships. The scholarship is paid jointly, to the students and to the school.
Directions annually provides over $50,000 in monetary and kind donations to numerous organizations within their communities.
Causes Supported by the Directions Credit Union
Directions Credit Union supports and provides an anchor to many causes, like:
- Finances 101
Directions supports the Finances 101 program. It is an educational game that tries to teach high school students the basics of financial management.
Students can learn many things through the help of various interactive resources present in the game.
Moreover, students can develop insight regarding paying bills and taxes, cost requirements of a household, the impact of earnings on buying products, etc.
- School Supply Drive
Directions annually collect supplies and cash donations in order to give it to area schools.
The donations are indeed a huge help for the local schools and families who struggle to send the intended supplies to the children each year.
- Children’s Miracle Network
Beneath this cause, Directions unites with Children’s Miracle Network Hospital in order to help sick and injured kids in local communities.
These donations can create wonders by funding specialized medical care, research, and education that can be instrumental in saving and improving the lives of the children.
- Summer Reading Programs
Directions encourage its young members to participate in local library Summer Reading Programs by rewarding them. This program “Rewards for Reading” runs every summer.
Members aged 18 and under, can earn a free $5 deposit in their Youth Savings Account, if they complete their local library’s Summer Reading Program.
Latest Partnership of Directions Credit Union
Directions Credit Union of Sylvania, Ohio joined the collaborative Credit Union Data Integration and Analytics Platform after signing an agreement to implement the OnApproach M360 Enterprise.
According to Dan Kubacki, Data Research and Analytics Manager, Directions Credit Union, “Data is the future of the financial services industry, and we are excited to have taken this step to implement OnApproach’s enterprise-wide data solution to enable a truly data-driven culture.
Member satisfaction is our priority, and this solution will allow us to build relationships with our members in ways we never could have done”.
OnApproach focuses on providing credit unions with the power to use data as a competitive advantage both independently and cooperatively.
Now DCU can now harness the value of Big Data/Analytics through integration, advanced reporting, and predictive analytics.
This deeper understanding of data would allow Directions to discover vital trends in member behavior, resulting in improved financial performance, reduced risk, and enriched relationships with members.
Recent Acquisition by the Directions Credit Union
Education Plus Credit Union of Monroe joined Directions Credit Union. The merger was approved on June 1. The data conversion was completed by Oct. 1.
With the merger, DCU became the sixth largest credit union in Ohio.
The company had assets worth $864 million and was the Ohio state’s third-largest by membership with more than 100,000.
The merger had allowed the Directions Credit Union to offer more products, services, support new technology advances, and expand its branch network.
The Office bearers of the Directions Credit Union welcomed the Education Plus members and promised to offer them new services like first mortgages, the ability to close auto loans and leases at the dealership, an expanded offering of business loans and services and access to a larger branch network.
Values of Directions Credit Union
At Directions Credit Union, it is claimed that their services don’t matter; it’s their commitment to those services and their will to create the best experience for their customers, matters much more.
At Directions, it is exclaimed that they don’t make loans, rather they make memories.
Directions Credit Union’s responsible management of member funds and the cost savings is a glaring example of its perfect ethical working.
The credit union is truly on the path of embarking new heights in the near future.