Bayport Credit Union is headquartered in Newport News and is the 9th largest credit union in the state of Virginia. It is also the 190th largest credit union in the nation. It was established in 1928 and as of December of 2022, it had grown to 437 employees and 150,834 members at 29 locations. Bayport Credit Union's money market rates are 7X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Bayport Credit Union is open to those who live, work, volunteer, attend school, or worship in the following: (1) the cities of Chesapeake, Franklin, Hampton, Newport News, Norfolk, Poqouson, Portsmouth, Suffolk, Virginia Beach, or Williamsburg in Virginia; (2) the counties of Gloucester, Isle of Wight, James City, Mathews, Southampton, Surry, or York in Virginia or the counties of Currituck or Gates in North Carolina. Also available to join are immediate family and household members.
See current membership details
Love Them!
They TRULY have your best interest in mind.
I've done a lot of research before choosing this credit union. It is the best credit union for the hampton roads area. Fee free ATM's are all over the place, they're more frequent than any other bank ATM. It offers very nice online banking features and mobile banking features as well as many other completely free services. Fees are far less than banks (they would be lower but our government has made laws to prevent them to, otherwise banks couldn't compete).
They have free rewards programs and often have givaways to members (currently 2 contests, $10,000 and a $1,000 to random bayport members who use their debit card / online services)
Bottom line: You will save money if you bank with them, and if you're lucky maybe even get a little rich. They are very helpful and are extremely prompt and quick to responding to any question or loan request. They have tools and are very helpful with managing your budget and money if you need the help.
I'll be staying with them as long as possible.
I was previously with a larger bank who stabbed me with ridiculous fees (I found 4 faulty overdraft fees over a span of 3 months, which were later fixed after 22 days and hours worth of customer service) not to mention limited benefits from banking with them. It seems almost obvious that the 4 fault overdraft fees were not mistakes, and right then I decided I wasn't going to bank with them any longer. Bayport outdoes them by a long shot.
Fantastic Credit Union
They have a mobile app, you can use any credit union ATM for free, and those ATM's are everywhere. Online banking is easy. They constantly have some sort of giveaway contest, fast response via phone or web chat support. Great all around, no complaints at all.
Poor Service
I needed to get some financial forms notarized and certified, and even after three visits to my local branch, they were still unable to help me. I took the same forms to BB&T and completed everything in 5 minutes.
Unnecessary Fees
I opened a checking and saving account in 2010 cause my mom had history there having an account for years with no problem and things were going great at first with no issue. I even had a nice savings in my savings account. The staff was very friendly! but then over a bit a time later I stop depositing into my checking account but unbeknownst me when I when to withdrawal from my savings they took it all! When I went to find out they gave me some child's excuse saying it was because I haven't been putting anything into my checking account! they even had the nerve to say that if I put anything into my checking now they would take about $50 of it! This bank runs on Unnecessary Fees!!
Data as of Q4 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 61330 |
| Year Chartered | 1928 |
| Employees | 437 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.64% |
| Return on Equity - YTD | 7.5% |
| Annual Interest Income | $83.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $2.29B$2.28B |
| Loans | Q4 2022vs Q4 2021 | $1.69B$1.45B |
| Deposits | Q4 2022vs Q4 2021 | $1.99B$1.90B |
| Equity Capital | Q4 2022vs Q4 2021 | $194.5MM$212.6MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $27.2MM$22.3MM |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $14.8MM$6.3MM |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$238.00K |
