While 2020 was challenging in so many ways, it marked considerable community investment and product enhancement for DoverPhila Federal Credit Union as it continued to be a financial leader in Tuscarawas County while giving back to its members.
Because of great financial results in 2020, the credit union gave back $1.65 million to its members through a year-end bonus dividend, low-cost auto loans, certificates of deposits (CDs) with higher interest rates, and a vast array of other products and services. This marks the 26th year in a row that DoverPhila returned significant earning back to its members; a unique feat to DoverPhila because it’s a community-focused, not-for-profit financial institution controlled by its members.
DoverPhila Federal Credit Union continued to establish and strengthen relationships within Tuscarawas County through several sponsorships and donations to area organizations and groups that included East Central Ohio ESC’s Family Reading Festival, United Way of Tuscarawas County, Rainbow Connection, Leader’s Edge Anti-Virus Youth Character Education program, the local Salvation Army Red Kettle Drive, Leadership Tuscarawas, Tuscarawas Clinic for the Working Uninsured, Kent State University Tuscarawas, Trinity Hospital Twin City, Tuscarawas County Philharmonic, Tuscarawas County Community Hospice, Trumpet in the Land, Tuscarawas County Senior Center, Tuscarawas County Humane Society, Big Brothers Big Sisters of East Central Ohio, area youth athletic associations, and many more.
COVID-19 Community Response
The credit union provided $25,000 to the United Way of Tuscarawas County’s COVID-19 community-response fund. The funds help residents of Tuscarawas County with various needs because of the coronavirus pandemic.
Also in response to the pandemic, DoverPhila waived almost $500,000 in members’ fees from March through August, and offered fee-free crisis skip-a-payments on installment loans and home equity lines of credit, interest-only payment options for existing installment or home equity lines of credit, interest-free loan options that assisted up to three months of mortgage payments, and emergency loan options for short-term, small-dollar personal loans with up to 12 monthly payments and a 90-day first payment deferral.
DoverPhila Federal Credit Union’s New Philadelphia office orchestrated donations for the Tuscarawas County’s Share-A-Christmas program. Credit union employees gave over $700 in gifts this year to area youth.
Volunteer Income Tax Assistance (VITA) Program
DPFCU partnered with United Way of Tuscarawas County to provide another drop-off location for United Way’s Volunteer Income Tax Assistance (VITA) program. Some credit union employees and community volunteers received training and IRS certification to provide free income-tax support to individuals who earn less than $65,000 per year or joint filers who earn less than $95,00 per year.
PRODUCT EXPANSION & ENHANCEMENT
There was significant product expansion and enhancement for DoverPhila Federal Credit Union in 2020.
Ohio Financial Literacy Grant
DoverPhila was the recipient of a financial literacy grant through the Ohio Department of Commerce. The allotted funds went towards the growth of the credit union’s current online financial literacy program, Banzai, to include lower-level grades. The expansion provides financial literacy resources to 27 schools and over 12,000 students at no cost to educators.
Banzai is also available for free to the Tuscarawas County community. The award-winning online program can help optimize financial wellness and is accessible via desktop computers, laptops, tablets, and other smart devices. Visit www.dpfcu.org or call 330-364-8874 for more information.
Online Banking Platform
In July, DPFCU launched its new online banking platform. The updated platform improves account access and online bill-pay for its members with features that include a simplistic interface design, enhanced security features, and built-in, pop-up tutorials to support user-friendly navigation.
ATM Scanning Technology
DoverPhila upgraded its ATMs to a non-envelope system. The new scanning technology allows members to insert cash and checks securely and directly without envelopes, removing frustration and adding another way to bank with ease at the credit union. Credit union ATMs still offer state-of-the-art card readers with enhanced security and fraud protection. It’s the first financial institution in Tuscarawas County to offer this type of security and fraud protection at ATMs.
THE NEW YEAR
The credit union looks forward to 2021 as it continues to serve its community and create opportunities that empower its members to achieve their personal goals through sound financial practices and targeted advice. DoverPhila plans to continue to offer the following COVID-related lending initiatives to borrowers (until further notice).
Payment Deferment Options
DoverPhila requires a valid COVID-related reason for requesting the payment deferment.
Skip-A-Payment: a fee-free crisis skip-a-payment for one month on installment loans and home equity lines of credit.
Interest-only Payments: interest-only payment options for existing and qualifying installment loans or home equity lines of credit.
Interest-Free Loans: interest-free loans to assist with up to three months of mortgage payments to existing borrowers who qualify.
Emergency Loans: short-term, small-dollar emergency personal loans with a maximum loan amount of $1,500 with up to 12 monthly payments and a 90-day first payment deferral.
Voted Best Financial Institution for 2020 Best of the Best, DoverPhila Federal Credit Union has been serving Tuscarawas County for over 65 years and is still going strong with over 35,000 members. Anyone who lives, works, and attends church or school in Tuscarawas County can be a member by making a $5 deposit at any of its five locations. Please call a member service representative at 330-364-8874 for more information about opening an account.