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 31st largest credit union in the state of Virginia. It is also the 1,048th largest credit union in the nation. It was established in 1939 and as of March of 2020, it had grown to 90 employees and 26,769 members at 11 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

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Reviews (2)

The Home Of High Interest Checking

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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
Employees90
Primary Regulator
Profit Margin
Return on Assets - YTD0.26%
Return on Equity - YTD2.63%
Annual Interest Income$2.4MM
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$215.4MM$196.2MM
LoansQ1 2020vs Q1 2019$176.8MM$156.0MM
DepositsQ1 2020vs Q1 2019$181.8MM$175.2MM
Equity CapitalQ1 2020vs Q1 2019$20.9MM$19.7MM
Loan Loss AllowanceQ1 2020vs Q1 2019$1.1MM$1.5MM
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$1.2MM$928.00K
Real Estate OwnedQ1 2020vs Q1 2019$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Beacon Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Beacon Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%*-$5kKirby Account
OTHER TIERS: 0.05% $5k+
0.25%*$100k*-Tiered Savings
OTHER TIERS: 0.01% Up to $1k | 0.05% $1k - $5k | 0.10% $5k - $10k | 0.15% $10k - $50k | 0.20% $50k - $100k
0.20%--IRA Accounts
0.05%$200-Regular Share
0.05%--Christmas Club Account
0.05%--Vacation Club

Beacon Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$50k*-Horizon Money Market Account
OTHER TIERS: 0.05% $200 - $2k | 0.20% $2k - $5k | 0.25% $5k - $10k | 0.30% $10k - $50k

Beacon Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.05%*$300*$2.5kChoice Plus Checking Promo
OTHER TIERS: 0.01% $2.5k+
0.01%$200-Preferred Checking

Beacon Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$500-60 Month Share Certificate
0.45%$500-48 Month Share Certificate
0.40%$500-36 Month Share Certificate
0.35%$500-24 Month Share Certificate
0.30%$500-12 Month Share Certificate
0.30%$500-18 Month Share Certificate
0.20%$500-12 Month Bump Share Certificate
0.20%$500-Business 6 Month Share Certificate
0.10%$500-Business 3 Month Share Certificate
Locations

Availability



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