Democracy Credit Union Philadelphia PA | Affordable Auto Loans & Business Banking

Introduction

Welcome to Democracy Credit Union, where your financial well-being is our priority! Located at 300 Spring Garden St, Philadelphia, PA 19123, we have been serving our community since 1936. With a strong foundation built on trust and reliability, we're proud to support over 12,681 members in achieving their financial goals. At Democracy, we understand the importance of accessible banking services. That's why we offer a range of options including personal banking accounts, auto loans, mortgage refinancing, and business banking solutions. As of now, our total assets stand at an impressive $181,436,091, backed by $8,121,274 in deposits and a net worth of $15,817,527. Our commitment to responsible lending is reflected in our portfolio with 13,869 loans and leases extended to members. Our dedicated team of 39 employees, led by CEO Kenyahda Cahoon and Board President Lester Austin, is here to assist you every step of the way. Whether you're looking for advice on managing your finances or need help with online banking through our user-friendly platform at democracyfcu.org, we've got you covered. While members can visit us at our branch location, official correspondence should be sent to our mailing address: PO BOX 25516, Alexandria, VA 22313-5516. If you have any questions or need assistance, feel free to call us at 202-488-5400 during our lobby hours on Wednesday and Thursday from 9:00 AM to 1:00 PM. Join us today and experience the difference that comes from being part of a credit union that truly cares about its members!

Branch History & Mission

At Democracy, located at 300 Spring Garden St in Philadelphia, PA, we celebrate a rich history that began in 1936. From our humble beginnings, we have grown into a trusted financial partner for over 12,681 members. With total assets reaching $181,436,091, our journey has been marked by a commitment to serving our community and providing exceptional financial services. Our mission is clear: to empower our members through accessible financial solutions while fostering a sense of community and belonging. We strive to offer personal banking services such as checking and savings accounts, auto loans, mortgages, credit cards with rewards, and business banking options. Each service is designed with the member's best interests at heart. While members can visit us at our Philadelphia branch address, official correspondence should be sent to PO BOX 25516 in Alexandria, VA. Our branch is conveniently situated near local landmarks and provides easy access for all community members. As we evolved over the decades, Democracy embraced advancements in technology to enhance member experience. With services like online and mobile banking, electronic signatures, and person-to-person payments available, we ensure that managing finances is simple and efficient. Moreover, our commitment extends beyond financial transactions. We engage actively in community outreach efforts and partnerships that promote financial literacy and well-being among our members. This dedication is reflected not only in our services but also in the way we support local initiatives. We invite you to experience the benefits of joining Democracy. Whether you're looking for a reliable place to save or seeking assistance with loans and credit options, we are here for you. Join us today and become part of a thriving community committed to your financial success! For more information about membership or to open an account, please visit our website at Democracy FCU or call us at 202-488-5400 during our operating hours: Wednesday through Friday from 9:00 AM to 1:00 PM.

Branch Location & Accessibility

Accessibility Features

Our branch is designed with accessibility in mind. You'll find ample parking nearby, along with features such as ramps for easy entry. Whether you're coming in for personal banking needs or to discuss loans and financing options, we strive to make your visit comfortable.

Call to Action

Ready to take the next step? We invite you to visit us or call us at 202-488-5400 if you have any questions about our services or how we can assist you further. At Democracy Credit Union, we're here for you every step of the way!

Operating Hours

We understand that busy schedules can make it hard to find time for banking. That's why we offer lobby hours on Wednesday, Thursday, and every other Friday from 9:00 AM to 1:00 PM. Whether you're stopping by for a quick transaction or need assistance with a more complex financial matter, our friendly staff is here during these hours to help you.

Services Offered

At Democracy Credit Union, we provide a variety of services tailored to meet your needs. From checking and savings accounts to auto loans and credit cards with rewards, we've got you covered! Plus, for those on the go, we have an ATM available right here at the branch.

Member Eligibility

At Democracy, we believe that becoming a member is more than just opening an account; it's about joining a caring community that looks out for each other. If you're interested in membership, you'll be pleased to know that eligibility is quite accessible! Generally, anyone who lives, works, worships, or attends school in the Philadelphia area can become a part of our family. This means whether you're a local resident or just spend your days here, there's a place for you at Democracy. For full details on eligibility criteria, feel free to visit our website at http://www.democracyfcu.org/join.html. The benefits of joining Democracy are numerous! You'll gain access to personalized financial services designed to meet your needs, whether it's checking and savings accounts, auto loans, or credit cards with rewards. Plus, opening an account is simple and straightforward. Just head over to our online application page at http://www.democracyfcu.org/apply-online-pathways---credit-cards.html or give us a call at (202) 488-5400 if you have any questions. We're excited to welcome you into our community at 300 Spring Garden St Philadelphia Pa 19123, where your financial well-being is our top priority!

Business Banking & Commercial Services

Merchant Services That Make a Difference

In today's fast-paced marketplace, having reliable merchant services is crucial. At Democracy, we offer practical solutions that streamline payment processing and enhance customer experiences. Whether it's accepting card payments or providing online invoicing tools, our services empower you to focus on what matters most growing your business. Located at 300 Spring Garden St Philadelphia Pa 19123 in Philadelphia, PA, we're not just a credit union; we're your partners in success. Connect with us today at (202) 488-5400 to explore how we can help your business thrive!

Tailored Loan Options

Our commitment to supporting businesses is evident, with investments in business growth through our commercial lending programs: - We also support the broader business community with $20 in non-member commercial loans, providing flexible financing solutions. Imagine having the capital you need to hire new staff, purchase equipment, or launch a marketing campaign. With our customized loan options, you can turn your ideas into reality. Our team is here to guide you through the process, ensuring that you find the right fit for your financial goals.

Comprehensive List Of Services

Business Banking

Running a business comes with its own set of financial challenges. At Democracy, we offer specialized services for entrepreneurs through our business banking options, which include merchant services and business loans tailored for small businesses. We're committed to helping local businesses thrive.

Convenience and Accessibility

With our commitment to convenience, we provide essential services such as basic ATM access for easy withdrawals and balance checks. Our friendly staff is always available during lobby hours on Wednesday, Thursday, and every other Friday from 9:00 AM to 1:00 PM for any additional assistance you may need. In summary, whether you're managing day-to-day expenses or planning for future investments, Democracy is here for you every step of the way. Explore our comprehensive suite of services today by visiting us at 300 Spring Garden St Philadelphia Pa 19123 or calling us at (202) 488-5400. Join us in building a brighter financial future together! For more information about opening an account or becoming a member, please visit our website.

Credit Cards

For those looking to earn rewards while spending, our credit cards with rewards program is an excellent choice. Enjoy benefits on everyday purchases while building your credit score.

Loans and Financing

Are you considering buying a new car or refinancing your home? Our auto loans and vehicle financing options are crafted to help you hit the road without breaking the bank. We also provide mortgage loans and refinancing solutions that can make homeownership more accessible. If you're facing debt challenges, our personal loans and debt consolidation services can assist you in regaining control over your finances. With competitive rates and flexible terms, we aim to support your financial goals.

Personal Banking

We understand that personal finance can be overwhelming. That's why our offerings include checking and savings accounts designed to fit your lifestyle. Need quick access to your funds? Our ATM services allow you to withdraw cash and check balances with ease. Plus, with online and mobile banking, you can manage your finances anytime, anywhere. Imagine being able to pay bills or transfer money while relaxing at home our digital tools make it possible!

Digital & Online Banking

At Democracy, we understand that managing your finances should be as easy and secure as possible. That's why we offer a range of digital and online banking services designed to fit your busy lifestyle. With our tools, you can handle your banking needs anytime and anywhere, all while enjoying peace of mind knowing your information is safe. One of the standout features is our 24/7 Online Banking service available at https://www.democracyfcu.org/. This means you can check your balances, pay bills, and transfer funds whenever it suits you. Whether you're at home or on the go, you have complete control over your finances right at your fingertips. Plus, with E-Statements, you can opt for paperless statements, making it easier to manage your documents while also being environmentally friendly. Need to send money to a friend? Our Person-to-Person Transfers feature allows you to quickly and easily send funds without any hassle. And if you're out shopping, take advantage of our Mobile Payments option. It makes transactions simple; just tap and go! For those who prefer using their smartphone for banking tasks, our Mobile Application is available for download. It offers a user-friendly experience where you can deposit checks with just a photo, monitor transactions, and even sign documents electronically thanks to our Electronic Signature Authorization feature. This adds another layer of convenience, allowing you to complete tasks without needing to visit the branch. At Democracy, we prioritize accessibility and ease-of-use so you can focus on what matters most in your life. Our digital banking services are designed not only for efficiency but also with your security in mind, ensuring that every transaction is protected. Explore all these services today by visiting us online at https://www.democracyfcu.org/!

Financial Strength

Commitment to Growth and Service

With $14,515,782 in undivided earnings, we reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. Our lending capacity is substantial; we have $570 in used auto loans and $141,156,545 in total loans and leases, which supports your financial goals across various sectors. Our operational efficiency shines through with a net income of $0, enabling us to continue offering competitive loan rates and solid financial products for our members. We also take pride in having 37 full-time employees and 2 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable, committed team.

Growing Member Trust

We currently serve 23,506 share accounts, showing a strong and growing member base that trusts us with their finances. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Democracy is your trusted partner. Visit us at 300 Spring Garden St Philadelphia Pa 19123 or call (202) 488-5400 to learn more about how we can help you achieve your financial goals.

Member-Centric Savings Solutions

Members' savings are secured through $22,787,120 in share certificates and $26,724,308 in money market shares, offering stable and rewarding financial growth opportunities. Unlike traditional banks, we prioritize our members. With non-member deposits at $16,613,561, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks.

Solid Financial Health

With a net worth of $15,817,527, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our net worth ratio of $869 demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times.

Loan Offering

Auto Loans

Looking to buy a new car? Our auto loans provide some of the lowest rates in the industry, with over $11,882,190 in used vehicle loans and $9,201,894 in new vehicle loans already helping members get on the road. Whether you're looking for financing for a reliable used vehicle or a brand-new model, we have options that suit your budget.

Credit Lines

For those needing additional financial flexibility, our total credit lines amounting to $46,837,000 provide access to funds when you need them most. This option is perfect for covering unexpected expenses or larger purchases without straining your budget. At Democracy, we also recognize that refinancing options are available for many of our loan products. If you're looking to lower your monthly payments or adjust the terms of an existing loan, our team can help you navigate these possibilities. For inquiries about eligibility and to learn more about our loan offerings, feel free to contact us at (202) 488-5400 or visit us at our branch located at 300 Spring Garden St Philadelphia Pa 19123 in Philadelphia, PA. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov, based on the latest results. We're here to support you on your journey towards better financial health!

Mortgage Loans

Thinking about homeownership? Our mortgage options make buying or refinancing simple. We offer Junior Lien 1-4 Family Residential Properties loans totaling $9,712,329, which can help turn your dream of owning a home into reality. Plus, our team is here to guide you through every step of the process.

Unsecured Credit Card Loans

We also offer flexible terms on unsecured credit card loans, with a total of $6,193,229 in loans helping members manage their finances effectively. Our credit cards come with rewards and features that can make everyday purchases more rewarding.

Loan Aggregator

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