Diablo Valley Federal Credit Union: Pioneering Financial Excellence
Founded on May 23rd, 1961, by eight charter members with an original combined deposit of $40, the Walnut Creek Municipal and Postal Employees Credit Union emerged as a financial institution rooted in community values. In October of 1961, it underwent a name change to Walnut Creek Federal Credit Union. During those early years, the credit union operated with a single part-time employee, and transactions were conducted in the police dispatch room.
Over time, the credit union’s field of membership expanded to include various employers and organizations. In 1984, recognizing the growing community it served, the institution adopted its current name. In 2007, the National Credit Union Administration (NCUA) granted DVFCU a community charter, enabling individuals in 14 central Contra Costa County cities to become eligible account holders. In May 2007, members of Good News Federal Credit Union voted to merge GNFCU into Diablo Valley Federal Credit Union, a move approved by the NCUA in June 2007, welcoming over 700 new members to DVFCU.
Today, the credit union is proud to serve its 3,000+ members, guided by the philosophy of “people helping people.” With no stockholders, profits are reinvested in the form of low loan rates, higher savings dividend rates, and cutting-edge home banking technology. Diablo Valley Federal Credit Union’s dedicated employees and volunteer Board of Directors are committed to providing exceptional service and competitive financial products. As they continue to evolve, the credit union looks forward to delivering outstanding service, developing new programs, and enhancing existing ones in the coming years.
Frequently Asked Questions
Who is eligible to join?
Individuals residing, working, attending school, or worshiping in the central Contra Costa area can explore eligibility by contacting Diablo Valley FCU at 925-771-5600.
What’s a Credit Union?
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. Members own and control it through a board of directors elected by the membership. Operating on a volunteer basis, the board may hire a management team. Credit unions aim to provide a safe, convenient place for members to save and borrow at reasonable rates, existing to benefit members rather than making a profit.
Who owns a credit union?
While most financial institutions are owned by stockholders seeking profits, a credit union operates differently. Each credit union member owns one “share” of the organization, allowing them to vote on important issues, including the election of member representatives to serve on the board of directors.
How did credit unions start?
Originating over a century ago in Germany, credit unions are now found worldwide. The movement began in the United States in 1909 with the opening of the St. Mary’s Cooperative Credit Association in Manchester, New Hampshire. Today, one in every three Americans is a credit union member.
What is the purpose of a credit union?
Primarily focused on service, credit unions encourage members to save money and offer loans to people of ordinary means. Being nonprofit cooperatives allows credit unions to charge lower rates for loans and pay higher dividends on savings. Earnings are returned to members in the form of dividends or improved services instead of profits to stockholders.
Are savings deposits insured?
Yes, all savings accounts are insured up to $250,000 by the NCUA, the National Credit Union Administration, a federal government agency.
Who can join a credit union?
A credit union serves a specific group of people, known as a “field of membership.” This may include individuals’ residential location, workplace, or membership in a social or economic group.
Diablo Valley FCU Location and Contact Information
Address:
Diablo Valley FCU is situated at 1051 A Detroit Avenue, Concord, CA 94518.
CU Service Centers Membership:
As a proud member of CU Service Centers, DVFCU allows individuals to visit any participating credit union location nationwide for convenient deposits or withdrawals.
Operating Hours:
- Monday-Friday: 9 AM to 5:00 PM
- Saturday: 9 AM to 4 PM
Contact Information:
For general inquiries or feedback, please direct your communication to info@diablovalleyfcu.org. Avoid including account numbers for security reasons.
Lost or Stolen Cards:
In the event of a lost or stolen debit MasterCard during normal business hours, individuals can call 925-771-5600 or 1-800-375-6077. For after-hours assistance (nights, weekends, and holidays) within the US, call 1-888-241-2510, and outside the US, call 909-941-1398. If your Visa credit card is lost or stolen, call 1-888-999-1106 at any time, 365 days a year.
Phone Numbers:
- General Phone: 925-771-5600
- Telephone Teller: 1-877-811-8190
- Toll-Free: 1-800-375-6077
- Fax: 925-771-5601
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References
Diablo Valley Federal Credit Union
https://diablovalleyfcu.org/
Diablo Valley FCU
https://diablovalleyfcu-dn.financial-net.com/
NCUA
https://ncua.gov/
