Langley Federal Credit Union
Langley Federal Credit Union is headquartered in Newport News and is the 6th largest credit union in the state of Virginia. It is also the 90th largest credit union in the nation. It was established in 1936 and as of June of 2018, it had grown to 523 employees and 244,298 members at 20 locations. Langley Federal Credit Union has an A health rating.
Field of Membership Restrictions
Membership in Langley Federal Credit Union is open to anyone through joining the VersaBility Resources ($5 fee), Friends of Carrollton Library ($5 fee), Friends of Suffolk Public Library ($5 membership fee), Friends of Gloucester Library ($5 fee), Friends of Poquoson Library ($5 fee), Friends of Portsmouth Library ($5 fee), or Virginia Association of Museums ($15 fee). Membership is also open to employees, members and students of Cox Communications, County of Gloucester, Food Lion, and select area companies,organizations, or schools. (Detailed membership requirements are listed in the credit union's online application)
See current membership details
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Langley FCU Smart Checking Account
Langley Federal Credit Union has a smart checking plus account that offers me multiple benefits over the regular checking account members. These benefits include mobile banking, online bill pay, and eStatements, all of which are free. Also there is not a minimum balance and there are never any member fees or service charges. One of my favorite features that they offer is the early payday deposit. I can generally have my full paycheck available to me a day before most other people that I work with. Another benefit is that when you use their debit card they deposit $0.10 into your checking account. Also Langley waives ATM fees at other ATMs. Their interest rates for savings and checking accounts are not very good however. The best that I am aware of with them is around 1% and that is only for lower amounts. Upgrading from smart checking to smart checking plus was almost automatic, the only requirements that I remember were signing up for online statements and maintaining a minimum of $500 in your account. Overall I have enjoyed dealing with Langley Federal Credit Union over the past 12 years that I have been with them.
Data as of Q2 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 1261 |
| Year Chartered | 1936 |
| Employees | 523 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.68% |
| Return on Equity - YTD | 6.28% |
| Annual Interest Income | $43.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2018vs Q2 2017 | $2.62B$2.41B |
| Loans | Q2 2018vs Q2 2017 | $2.08B$1.85B |
| Deposits | Q2 2018vs Q2 2017 | $2.15B$1.97B |
| Equity Capital | Q2 2018vs Q2 2017 | $283.2MM$267.1MM |
| Loan Loss Allowance | Q2 2018vs Q2 2017 | $17.6MM$17.3MM |
| Unbacked Noncurrent Loans | Q2 2018vs Q2 2017 | $15.6MM$17.6MM |
| Real Estate Owned | Q2 2018vs Q2 2017 | $833.00K$283.00K |
Rates for Langley Federal Credit Union are currently being reviewed.
