DEARBORN, Mich. – The $1.8 billion DFCU Financial Federal Credit Union, which has applied with regulators to change to a bank charter, is one of the credit unions in the country which may take a significant hit from the massive downsizing announced by the Ford Motor Company. The number two U.S. automaker announced the closing of 14 plants and the scrapping of 30,000 jobs over the next six years in an attempt to cut costs and reposition the manufacturer for the next generation of cars, the company said. DFCU Financial began its credit union life in 1950 as Ford Engineering Employees Federal Credit Union. It then became Ford Dearborn Federal Credit Union, eventually dropping the “Ford” to become Dearborn Federal Credit Union and finally DFCU. The company’s Web site says its 160,000 members belong to over 500 SEGs. The credit union has yet to return calls about the impact of the plant closings on any of its members or operations.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.