Address: 401 Chillicothe Street Portsmouth, OH 45662 View Map
Phone: 740-354-7791

About Us

Desco Federal Credit Union was originally established in 1963 to serve the employees of Detroit Steel Corporation in Portsmouth, Ohio. With the closing of Detroit Steel, Desco Employees Federal Credit Union's name was changed to Desco Federal Credit Union and its charter was also changed to provide service to all eligible persons who live or work in the communities of Portsmouth, New Boston, Porter Township, and Washington Township, Ohio.

In 1986, Ironton Lawco Employees Federal Credit Union requested that they be merged into Desco and the charter was further expanded to include those persons eligible for membership in the former Ironton Lawco Employees Federal Credit Union along with many other select employee groups in Lawrence County, Ohio.

Effective January 1, 2004 Desco merged the former Solky Federal Credit Union in Ashland, Kentucky and was granted a community charter to serve the residents of Boyd County, Kentucky. Our membership increased and we built a new branch office to better serve those members in Boyd County, KY.

In 2006, Desco applied for a further expansion to include Cabell and Wayne Counties in West Virginia. Although we do not offer lobby services, we have opened a marketing office in the Huntington area and look forward to future growth in that area.

Desco Federal Credit Union FAQ

Tim’s First Question: Tim you are the Mortgage Manager at Desco Federal Credit Union and you get lots of questions this time of year from folks looking to buy a new home especially now with interest rates on the climb.
Yes there are lots of concerns but we have a loan product at Desco Federal Credit Union called the Member Advantage Mortgage loan. It offers individuals with good credit an opportunity to lock in a low rate for 20 years with only 3 percent down and there is no PMI (Private Mortgage Insurance) which can save you thousands over the life of the loan. It also helps potential home buyers with a very small down payment which is very appealing and affordable for home buyers. But the Member Advantage Mortgage doesn’t just help buyers, with Interest rates having been at record lows over the last few years, many people took advantage of very low or no down payment mortgages with adjustable rates to make their home purchases, many of those over the next 12 to 18 months will have their mortgage rates begin to adjust, Upward! The Member Advantage Mortgage gives those people a chance to refinance their high LTV adjustable rate mortgage and lock in a fixed interest rate for 20 years and not add PMI to their payment!

Tim’s Second Question – Can you offer potential home buyers a pre-approved loan amount before they start looking?
Absolutely, and by knowing how much you can potentially borrow gives you and your realtor a better targeted range of homes to look in, and shows your realtor you are a qualified buyer and gives you significant negotiating power when making an offer on a home.

Misty’s First question. - Misty you’re a mortgage lender what are some of the features of this loan that you find popular with home buyers?
Home buyers like the affordable 3% down payment mortgage loan and the fact that they save the PMI insurance that is usually added to the payment. Home buyers especially like a fixed 20 year rate so there are no worries of a rate increase and the fact that the loan is serviced at DESCO and not sold on the secondary market. This product also allows us to offer up to 89% of the value of your home with cash out refinance if you want bill consolidation, home improvements, etc.

Misty’s second Question: Misty why should someone consider the Member Advantage Mortgage from Desco rather than other lenders?
DESCO is a local institution where we make all our own decisions and service your loan here. We have quicker closing times than the typical secondary market loans and we guide you thru the entire process making it as simple and stress free as possible. It’s usually the biggest purchase you will ever make and we want to help make sure you get the best financing possible.

Tim’s question. Tim this mortgage loan is called Member Advantage Mortgage Loan. Does that mean that only your members qualify?
If you need a mortgage, call us, stop by or go to our website, even if you are not a current member, with our fast pre-approvals we can add you immediately as a member. It’s a great time to check out the credit union difference. Our main focus is to help improves the lives of our members not the demands of corporate investors.

Portsmouth Drive-Through
414 Washington Street Portsmouth, OH 45662

Map Location
Minford Branch Office
575 West Street Minford, Ohio 45653
Map Location
Wheelersburg Branch Office
8790 Ohio River Road Wheelersburg, Ohio 45694
Map Location
Ironton Branch Office
2915 South 3rd Street Ironton, Ohio 45638
Map Location
Ashland Branch Office
455 Armco Road Ashland, KY 41101
Map Location
1438 6th Avenue Huntington, WV 25701

Map Location