Type Credit union Total assets $272M USD (2011) Headquarters Dover | Industry Financial services Website del-one.org Founded 1960 | |
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Key people Nancy Shevock, Chair
Dion Williams, CEO Products Savings; checking; consumer loans; mortgages; credit cards; online banking Profiles | ||
Del-One (formerly Delaware Federal Credit Union) is a federally chartered credit union headquartered in Dover, Delaware and regulated under the authority of the National Credit Union Administration (NCUA). Del-One is the second largest credit union in Delaware in assets. As of January 2011, Del-One had $272 million in assets, serving over 40,000 members, and 7 branches. Member deposits up to $500,000 in Del-One are insured by $250,000 through the National Credit Union Share Insurance Fund, and an additional $250,000 through Excess Share Insurance.
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History
Del-One was founded in 1960 as the Delaware Highway Federal Credit Union to serve employees of the Delaware State Highway Department. Seven years later, the credit union changed its name to Delaware State Employees Federal Credit Union. In 1991, the credit union merged with Delaware Central Credit Union. Its name was changed to Delaware Federal Credit Union in 1995. Del-One merged with American Mirrex Federal Credit Union in 1996 and Delaware Transit Employees Federal Credit Union in 1999. Del-One was granted a community charter the following year to serve the communities of Wilmington and Georgetown. In 2006, the credit union changed its name again to Del-One.
Membership
Eligibility for membership is extended to employees of the State of Delaware; anyone who lives, works or worships in Georgetown, Milford, Newark, Wilmington and the West Dover area, and over 200 select employee groups.
Services
Checking, savings, money market, CDs, Individual Retirement Account savings, auto loans, personal loans, mortgage loans, home equity loans, credit cards, over 25,000 ATM locations, free online banking, electronic bill pay, Electronic Statements, free mobile banking access, free financial counseling, financial seminars, debit cards, and direct deposit.
Board members
Board members serve three-year terms. They are elected by the credit union members at the annual meeting; there are no term limits.
Board of Directors: Nancy J. Shevock, Chairperson; D. Steven Smith, Vice Chairperson; R. Bryce Brown, Treasurer; Vanessa McCall, Secretary; Robert Baldwin, Director; William Hufnal, Director; E. Karen Whitaker, Director; Bill Pfaffenhauser, Director.
Community involvement
Del-One offers two $1,000 scholarships to high school seniors annually and provides several opportunities for youth account holders to win additional prizes. The credit union employees formed an organization in 2009, named the Del-One Foundation to continue raising funds for community outreach initiatives that include: American Cancer Society, Juvenile Diabetes Research Fund, Society for the Prevention of Cruelty to Animals, March of Dimes, and Ronald McDonald House.