DFCU Financial

DFCU Financial Recognized as a Top Credit Union by Newsweek Magazine

Retrieved on: 
Tuesday, January 16, 2024
DFCU, Perception, Professional, Risk management, App Store (iOS/iPadOS), History, Google Play, Social media, DFCU Financial, Collection, Online shopping

DEARBORN, Mich., Jan. 16, 2024 (GLOBE NEWSWIRE) -- DFCU Financial has proudly secured its place among the nation's top credit unions, according to Newsweek magazine, placing the credit union in the esteemed top 5% of financial institutions.

Key Points: 
  • DEARBORN, Mich., Jan. 16, 2024 (GLOBE NEWSWIRE) -- DFCU Financial has proudly secured its place among the nation's top credit unions, according to Newsweek magazine, placing the credit union in the esteemed top 5% of financial institutions.
  • This recognition reflects DFCU's unwavering dedication to providing exceptional banking services and member financial stability.
  • "Being recognized as a top credit union by Newsweek is a testament to our dedication to our members and the community," said Ryan Goldberg, President & Chief Executive Officer of DFCU Financial.
  • "We take pride in our unique credit union structure, which allows us to focus on our members’ financial well-being with integrity and professionalism."

DFCU Financial Continues Tradition of Member Rewards for the 18th Consecutive Year With $40 Million Cash Back Payout

Retrieved on: 
Wednesday, January 3, 2024
IRS, DFCU Financial, DFCU, Cashback, IRA, Bank

This year's award distribution marks the 18th consecutive year of the credit union's unique Cash Back program, emphasizing its commitment to sharing success with its members.

Key Points: 
  • This year's award distribution marks the 18th consecutive year of the credit union's unique Cash Back program, emphasizing its commitment to sharing success with its members.
  • Since the inception of this pioneering program in 2006, DFCU Financial has returned a remarkable total of $470 million to its members, a testament to its robust financial performance and member-focused philosophy.
  • This significant financial benefit is being deposited directly into the accounts of more than 130,000 members, reflecting the value of their total relationship with DFCU Financial.
  • Anyone who causes DFCU Financial a loss for any reason is not eligible for Cash Back.

MidWestOne Financial Group, Inc. Announces Sale of Florida Operations

Retrieved on: 
Monday, September 25, 2023
LLP, Metro, MidWestOne Financial Group, Partner, Honigman LLP, History, Strategic planning, Sale, IOWA, DFCU Financial, Growth, Minneapolis–Saint Paul, Bank, Management

IOWA CITY, Iowa, Sept. 25, 2023 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (Nasdaq: MOFG) (“MidWestOne”, “we”, “our”, or the “Company”) today announced that it has executed a definitive purchase and assumption agreement for the sale of its Florida operations to DFCU Financial.

Key Points: 
  • IOWA CITY, Iowa, Sept. 25, 2023 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (Nasdaq: MOFG) (“MidWestOne”, “we”, “our”, or the “Company”) today announced that it has executed a definitive purchase and assumption agreement for the sale of its Florida operations to DFCU Financial.
  • This transaction is an all cash deal that has been approved by the respective board of directors, and is expected to close in the second quarter of 2024.
  • While our Florida operations have been performing well, we never reached the scale to allow this market to become a growth driver for MidWestOne without significant investment.
  • Donnelly Penman & Partners, Inc. served as financial adviser and Honigman LLP provided legal counsel to DFCU Financial.

DFCU Financial to Acquire MidWestOne Bank’s Florida Operations in Naples and Fort Myers

Retrieved on: 
Monday, September 25, 2023
DFCU, MWO, Partner, Honigman LLP, Cape, Acquisition, DFCU Financial, Fortification, MidWestOne Financial Group

DEARBORN, Mich., Sept. 25, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of DFCU Financial (“DFCU”) announced today the signing of a definitive agreement for DFCU to acquire the Naples and Fort Myers banking operations of MidWestOne Bank, headquartered in Iowa City, Iowa.

Key Points: 
  • DEARBORN, Mich., Sept. 25, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of DFCU Financial (“DFCU”) announced today the signing of a definitive agreement for DFCU to acquire the Naples and Fort Myers banking operations of MidWestOne Bank, headquartered in Iowa City, Iowa.
  • DFCU Financial established its presence in Florida in January 2023 through its acquisition of Tampa-based First Citrus Bank.
  • Upon completion of the transaction, all Florida employees of MidWestOne are expected to be retained by DFCU, fulfilling similar roles as they currently hold at MidWestOne.
  • MidWestOne is being advised by the investment banking firm Hovde Group, LLC, and the law firm Barack Ferrazzano Kirschbaum & Nagelberg LLP.

Cash Back Payout of $38+ Million Benefits DFCU Members, Local Communities

Retrieved on: 
Wednesday, January 4, 2023
Business, Cashback, Goldberg, DFCU Financial, IRA, DFCU, IRS, Bank, Tampa Bay

DFCU is the only financial institution in the nation to pay members an average of $20 million for the last 17 consecutive years.

Key Points: 
  • DFCU is the only financial institution in the nation to pay members an average of $20 million for the last 17 consecutive years.
  • Goldberg points to the dividend as a significant differentiator between the $6 billion credit union and other financial institutions.
  • "With our recent merger with First Citrus Bank in Tampa Bay, we look forward to infusing these payout dollars into those communities and supporting those members as well.
  • Anyone who causes DFCU Financial a loss for any reason is not eligible for Cash Back.

DFCU Financial Completes First Citrus Bank Acquisition

Retrieved on: 
Tuesday, January 3, 2023
DFCU Financial, Partnership, DFCU, Manatee, Bank

DEARBORN, Mich., Jan. 03, 2023 (GLOBE NEWSWIRE) -- DFCU Financial and First Citrus Bank have closed on their previously announced business combination and are now branded as DFCU Financial.

Key Points: 
  • DEARBORN, Mich., Jan. 03, 2023 (GLOBE NEWSWIRE) -- DFCU Financial and First Citrus Bank have closed on their previously announced business combination and are now branded as DFCU Financial.
  • Within Florida, DFCU Financial will primarily serve people who live, work, worship or attend school in and around Tampa, in Hillsborough, Pinellas, Pasco, Polk, Manatee, and Sarasota counties.
  • All legacy First Citrus Bank account holders will be members of DFCU Financial, and services will continue uninterrupted at all six offices.
  • At DFCU Financial, former First Citrus Bank President & Chief Executive Officer John M. Barrett has been named Florida Market President and Chief Commercial Services Officer.

First Citrus Bancorporation, Inc. Shareholders Approve Transaction with DFCU Financial

Retrieved on: 
Monday, August 8, 2022
Risk, SBA, Forward-looking statement, GLOBE, Loan, Citrus, Commerce, Southeastern United States, American Banker, DFCU Financial, DFCU, S&P Global, FCB, Community, OTC Markets Group, Nation, Security (finance), Tampa Bay

TAMPA, Fla., Aug. 08, 2022 (GLOBE NEWSWIRE) -- First Citrus Bancorporation, Inc. (OTC Markets: FCIT ), the parent bank holding company for First Citrus Bank, announced that its shareholders voted and unanimously approved the DFCU Financial all-cash transaction on Thursday, August 4, 2022.

Key Points: 
  • TAMPA, Fla., Aug. 08, 2022 (GLOBE NEWSWIRE) -- First Citrus Bancorporation, Inc. (OTC Markets: FCIT ), the parent bank holding company for First Citrus Bank, announced that its shareholders voted and unanimously approved the DFCU Financial all-cash transaction on Thursday, August 4, 2022.
  • Its no surprise that shareholders overwhelmingly approved our merger because DFCU Financial is such a quality organization.
  • First Citrus Bancorporation, Inc., is a Florida corporation and the parent bank holding company for First Citrus Bank, a Florida commercial bank.
  • First Citrus Bancorporation assumes no obligation to update the forward-looking information in this announcement, except as required under applicable law.

Forbes Ranks DFCU Financial Best-in-State Credit Union for Fifth Consecutive Year

Retrieved on: 
Tuesday, July 12, 2022
Income, GLOBE, Trust, Forbes, DFCU Financial, Life, CU, Statista, DFCU, Bank

DEARBORN, Mich., July 12, 2022 (GLOBE NEWSWIRE) -- For the fifth year running, Forbes has ranked DFCU Financial as one of Michigan's best credit unions.

Key Points: 
  • DEARBORN, Mich., July 12, 2022 (GLOBE NEWSWIRE) -- For the fifth year running, Forbes has ranked DFCU Financial as one of Michigan's best credit unions.
  • Today, there are more than 5,400 credit unions in the U.S. with total annual revenue of $91 billion, according to IBISWorld.
  • More people are choosing credit unions in general and DFCU specifically for our strong community focus, financial education, and personalized service."
  • A strong community partner, DFCU Financial continually reinvests in its membership with new branches and financial literacy education for all ages.

DFCU Financial Announces Transaction With First Citrus Bank in Tampa, Florida

Retrieved on: 
Thursday, May 12, 2022
Risk, DFCU Financial, Board, Honigman, Partner, Citrus, American Banker, Southeastern United States, Nation, Nature, LLP, Community, DFCU, Time, FCB, Forward-looking statement, Board of directors, SBA, Commerce, S&P Global, LLC, CEO, Loan, GLOBE, Bank, Real estate, Tampa Bay

DEARBORN, Mich. & TAMPA, Fla., May 12, 2022 (GLOBE NEWSWIRE) -- The Boards of Directors of DFCU Financial ("DFCU") and First Citrus Bancorporation, Inc. (OTCPK: FCIT), the holding company for First Citrus Bank (collectively "FCB"), today announced the execution of a definitive agreement by which FCB will merge with DFCU in an all-cash transaction.

Key Points: 
  • DEARBORN, Mich. & TAMPA, Fla., May 12, 2022 (GLOBE NEWSWIRE) -- The Boards of Directors of DFCU Financial ("DFCU") and First Citrus Bancorporation, Inc. (OTCPK: FCIT), the holding company for First Citrus Bank (collectively "FCB"), today announced the execution of a definitive agreement by which FCB will merge with DFCU in an all-cash transaction.
  • The Board of Directors of both financial institutions have unanimously approved the transaction, which will mark DFCU's entry into the state of Florida.
  • Ryan Goldberg, President & CEO of DFCU, stated, "First Citrus represents DFCU's initial expansion into Florida and a significant increase in commercial lending presence and expertise.
  • First Citrus Bancorporation, Inc. (OTCPK: FCIT), is a Florida corporation and the parent bank holding company for First Citrus Bank, a Florida commercial bank.

TruStone Financial Credit Union and Firefly Credit Union Merger Approved

Retrieved on: 
Tuesday, December 29, 2020
Community building, Cooperative banking, Credit union, Social economy, First West Credit Union, Articles, Envision Financial, DFCU Financial

PLYMOUTH, Minn., Dec. 29, 2020 (GLOBE NEWSWIRE) -- Members of Firefly Credit Union have cast their votes in approval of a merger with TruStone Financial Credit Union.

Key Points: 
  • PLYMOUTH, Minn., Dec. 29, 2020 (GLOBE NEWSWIRE) -- Members of Firefly Credit Union have cast their votes in approval of a merger with TruStone Financial Credit Union.
  • TruStone Financial Credit Union is now the second-largest financial cooperative in Minnesota, and among the top 100 in the nation.
  • The merger is one of the largest of its kind in the credit union industry, and was recently hailed by GonzoBanker.com as 2020s Credit Union Merger of the Year.
  • TruStone Financial is a full-service credit union that has worked to improve the financial well-being of its neighbors for more than 80 years.