Beacon Credit Union


Overview / Commentary
434-237-1566 ext. 217
107 Leroy Bowen Dr
Lynchburg, VA 24502

Beacon Credit Union is headquartered in Lynchburg and is the 32nd largest credit union in the state of Virginia. It is also the 1,035th largest credit union in the nation. It was established in 1939 and as of September of 2022, it had grown to 70 employees and 27,336 members at 9 locations. Beacon Credit Union has an A health rating.

Field of Membership Restrictions

Beacon Credit Union is open those who live, work, worship, or attend school in the Virginia counties of Amherst, Appomattox, Bedford, Botetourt, Campbell, Roanoke, Rockbridge, or Pittsylvania; the North Carolina counties of Casswell or Rockingham; the Virginia cities/towns of Altavista, Appomattox, Bedford, Buena Vista, Danville, Lexington, Lynchburg, Roanoke, Salem, or Vinton; the North Carolina cities of Eden or Reidsville. Eligibility also extends to immediate family.
See current membership details

Reviews (2)

The Home Of High Interest Checking

Posted by: |

When you hear about high interest checking accounts you're normally waiting for the other shoe to drop.  There's usually a catch like enormously high deposit requirements or unreasonable penalties if you don't meet the monthly requirements.

I found a checking account at a credit union in my town that offers a big rate with small requirements and they are probably one of the best kept secrets around.  I was suprised that I didn't have to give up any of my debit card or online banking services to go with a credit union versus a big bank.

I can recommend Beacon if you live in their service area.

Never Again!

If u have to get any sort of loan NEVER go with Beacon Credit union. They r horrible! I have never had a company charge me $10 for paying over the phone for a convenience charge then after an update of their system they charge $10 for paying online! That's total BS! I can understand if I am late on payments but don't punish your customers for paying their bill on time NEVER AGAIN! I wish I could get a different loan company for my truck to finish payments! The only reason they got 1 star is because I had to review



Health

Health Grade Components

Overall
NCUA #66965
Year Chartered1939
Employees70
Primary Regulator
Profit Margin
Return on Assets - YTD1.35%
Return on Equity - YTD12.99%
Annual Interest Income$8.1MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$283.0MM$238.7MM
LoansQ3 2022vs Q3 2021$234.9MM$200.5MM
DepositsQ3 2022vs Q3 2021$239.0MM$213.0MM
Equity CapitalQ3 2022vs Q3 2021$28.1MM$24.5MM
Loan Loss AllowanceQ3 2022vs Q3 2021$933.00K$1.1MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$784.00K$525.00K
Real Estate OwnedQ3 2022vs Q3 2021$0$0
Rates

Rates for Beacon Credit Union are currently being reviewed.

Locations


Beacon Credit Union Locations
Branch Office155 Amelon SqMadison Heights, VA 24572-6259
Branch Office2101 Forest AveBuena Vista, VA 24416-2733
Branch Office19029 Forest RdLynchburg, VA 24502
Branch Office630 Piney Forest RdDanville, VA 24540
Branch Office6320 Logans LnLynchburg, VA 24502
Branch Office107 Leroy Bowen DrLynchburg, VA 24502
Branch Office2134 Langhorne RdLynchburg, VA 24501
Branch Office320 Old Riverside DrDanville, VA 24541-3454
Branch Office1629 Forest RdBedford, VA 24523

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