Dover Federal Credit Union Achieves Record Asset Level
May 1, 2013 - Dover Federal Credit Union is proud to announce that, as of March 31 of this year, its assets have grown to over $400 million. Dover Federal is the first credit union in the state of Delaware to reach this important milestone.
The size of Dover Federal's assets reflects its place as Delaware's leading credit union. With over 38,000 individual and business members, Dover Federal is the largest and most influential credit union in the state.
The benefits of membership in Dover Federal Credit Union are substantial. As detailed in the Credit Union's most recent Member Benefits Report, the Credit Union National Association estimates that Dover Federal provided a total of $4,132,527 in direct financial benefits to its membership during the twelve months ending in December 2012. The average savings provided byDover Federal's higher dividends and lower loan rateswas equal to $109 per member, or $208 per member household. In auto loans alone, Dover Federal's lower lending rates and better terms saved its members an annual average of $508 per member on new car loans, $446 per member on used cars, and an impressive overall savings of $1,569,388 during 2012.
"Dover Federal is immensely proud to achieve this distinction," said David Clendaniel, President and CEO of the Credit Union, of the record asset level. "It is a tangible measure of the trust our members place in us, and the extent to which they value our products, our stability, and our first-rate member service.Our highest goal is to make a positive difference in our members' financial lives. Their success is our success."