Commonwealth One Federal Credit Union

Overview / Commentary
4875 Eisenhower Ave
Alexandria, VA 22304-4886

Commonwealth One Federal Credit Union is headquartered in Alexandria and is the 23rd largest credit union in the state of Virginia. It is also the 714th largest credit union in the nation. It was established in 1944 and as of September of 2022, it had grown to 78 employees and 37,427 members at 7 locations. Commonwealth One Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership in CommonWealth One Federal Credit Union is open to members of the Virginia Consumer Council who live in Kentucky, Maryland, North Carolina, Tennessee, Virginia, Washington D.C., or West Virginia. Individuals who live, work, worship, volunteer or attend school in Washington D.C., the Virginia counties of Warren or Clarke, or the Virginia cities of Harrisonburg and Alexandria are also eligible to join. Membership is also open to employees of more than 200 Sponsor Groups and to immediate family of current Credit Union members.
See current membership details

Reviews (4)

Excellent Credit Union To Work With...

Posted by: |

I've been a member of CommonWealth One for over 2 years and my experience has been phenomenal. The Harrisonburg location has been a pleasure working with and has always treated me like a member and not just a number. Their loan rates are low and they also have some of the best certificate rates. I recommend them to everyone.

Worked Me Like A True Scam Artist Would.

Posted by: |

Worked me like a true scam artist would. Found Jumbo CD rate at and tried to use their online "open an account". Figured I could put some IRA money in and stay out of stocks for awhile. Summary of the experience was that you call them every few days and ask what is the hold up. They seem to make up the process as they go. First, they wanted two sides of my ID, then next time I called, it was they wanted to ask me questions from my credit report to confirm my ID (All this and I wanted to make a large DEPOSIT). By the fourth call, they said they "couldn't find anything wrong or missing from my application", but wanted to advise me that the rate had "changed". In other words when I applied four weeks ago, you had a higher rate and now it is lower, I said. "Yes" I was told. I only gave them two stars because they did call me back consistently. The last call I made (call #5), I was told that they had a new policy and you must upload a certificate to prove you had joined the free association that gives you rights to be a member. I had joined a month ago, but their online system did not ask for this 'proof' and each time I called no one asked for this. Until I lost the good rate and they were hard pressed to find another excuse-then it was "we need proof of your association that allows you to join the credit union". I was never a big fan of processes, but I can see how no one would make it through this ad hoc gauntlet to actually get an account. What would they ask for someday when I want my money back? If this sounds like fun, give it a try for yourself. Otherwise, stay away.

Membership Denial

Field of membership is mis-stated on their website. Even if you are a member of the Virginia chapter of the ACC, they will deny if you do not have a current address in VA.

Beware Of Hard Credit Pull And Membership Denial

Posted by: |

This Credit Union has a restrictive membership policy that is not explained on the website. It says you can become a member by joining the Virginia Consumer Council but it doesn’t explain you have to live in states surrounding DC. I was already a member of the VCC before applying to this CU but moved away from the area and was denied.
But here is the kicker: they do a HARD CREDIT PULL even before they evaluate you for membership. How crazy is that?
So now I have a hard credit pull on my credit report for NOTHING.
Thanks for nothing guys.


Health Grade Components

NCUA #5134
Year Chartered1944
Primary Regulator
Profit Margin
Return on Assets - YTD0.01%
Return on Equity - YTD0.15%
Annual Interest Income$10.9MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$507.2MM$480.6MM
LoansQ3 2022vs Q3 2021$329.5MM$265.3MM
DepositsQ3 2022vs Q3 2021$438.3MM$431.6MM
Equity CapitalQ3 2022vs Q3 2021$41.3MM$47.0MM
Loan Loss AllowanceQ3 2022vs Q3 2021$2.0MM$2.2MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$1.9MM$1.3MM
Real Estate OwnedQ3 2022vs Q3 2021$0$0

Rates for Commonwealth One Federal Credit Union are currently being reviewed.


Commonwealth One Federal Credit Union Locations
Branch Office170 Bluestone DrHarrisonburg, VA 22807-1008
Branch Office7701 Telegraph Rd Kingman BuildingAlexandria, VA 22315
Branch Office441 G St NW Ste 3M54Washington, DC 20548-0001
Branch Office3330 King StAlexandria, VA 22302
Branch Office4875 Eisenhower AveAlexandria, VA 22304-4886
Branch Office42 Terri DrHarrisonburg, VA 22802
Branch Office6201 Richmond HwyAlexandria, VA 22303

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