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.
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
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.
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
Overall | |
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NCUA # | 66965 |
Year Chartered | 1939 |
Employees | 70 |
Primary Regulator |
Profit Margin | |
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Return on Assets - YTD | 1.35% |
Return on Equity - YTD | 12.99% |
Annual Interest Income | $8.1MM |
Assets and Liabilities | ||
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Assets | Q3 2022vs Q3 2021 | $283.0MM$238.7MM |
Loans | Q3 2022vs Q3 2021 | $234.9MM$200.5MM |
Deposits | Q3 2022vs Q3 2021 | $239.0MM$213.0MM |
Equity Capital | Q3 2022vs Q3 2021 | $28.1MM$24.5MM |
Loan Loss Allowance | Q3 2022vs Q3 2021 | $933.00K$1.1MM |
Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $784.00K$525.00K |
Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |
Rates for Beacon Credit Union are currently being reviewed.
Beacon Credit Union Locations | ||
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Branch Office | 155 Amelon Sq | Madison Heights, VA 24572-6259 |
Branch Office | 2101 Forest Ave | Buena Vista, VA 24416-2733 |
Branch Office | 19029 Forest Rd | Lynchburg, VA 24502 |
Branch Office | 630 Piney Forest Rd | Danville, VA 24540 |
Branch Office | 6320 Logans Ln | Lynchburg, VA 24502 |
Branch Office | 107 Leroy Bowen Dr | Lynchburg, VA 24502 |
Branch Office | 2134 Langhorne Rd | Lynchburg, VA 24501 |
Branch Office | 320 Old Riverside Dr | Danville, VA 24541-3454 |
Branch Office | 1629 Forest Rd | Bedford, VA 24523 |