Langley Federal Credit Union is headquartered in Newport News and is the 4th largest credit union in the state of Virginia. It is also the 69th largest credit union in the nation. It was established in 1936 and as of December of 2024, it had grown to 684 employees and 391,662 members at 20 locations. Langley Federal Credit Union's money market rates are 9X the national average, and it has a B health rating.
Field of Membership Restrictions
Membership in Langley Federal Credit Union is open to all U.S. citizens/resident aliens who open a Share Savings Account with a $5 minimum deposit..
See current membership details
Very Efficient CU
On Monday (10/3) my wife applied for membership online as she wanted to transfer an IRA. On Tuesday she received a welcome letter with her membership number. She went online a filled out an IRA application and that same day got a response with the documents to complete with all the necessary instructions. She returned them Wednesday and got an immediate response from a live representative that the request was being processed. That afternoon she received an email from the other institution telling her that a transfer request had been received and was being processed. None to done in three days. Can't beat that with a stick!
10 Month CD 5.25% APY Special
Credit unions have slightly better rates. This one is more liberal with who they let open accounts. Once you start the online application process they use Plaid (third party) to link to the bank you want to fund your CD with. My funds were at Fidelity which is a pretty large financial firm. Would not connect. Tried another bank. That didn't work either. I tried to link Ally Bank... that worked except that isn't where I had the funds. I called and spoke with someone and they told me to fund it from Ally with the minimum $500 and you are also required to keep $5 in the share account. This allowed me to get set up with a routing and account number. I was told as long as I wired the remaining funds to the share account within 10 days they would manually add it to the CD. Fidelity doesn't charge for wires but it does take several hours for it to go thru and show up. It was a bit tricky but there were very short wait times to speak with a customer service rep. Once the funds showed up I called and the rep added the amount to complete the CD. There is a $50k limit for this special rate which is probably gone by now. So far so good. Decent website. Responsive customer service reps willing to help. These teaser rates prob. won't be around when the CD matures. I will likely move the funds again. When are they going to raise FDIC and NCAU deposit insurance!
Beware: Electronic Transfers Take 3-5 Business Days
Members Beware.!!! On December 20th on Langley's web site, I transferred money from another credit union to my account on Langley and selected timeframe "Immediate". The money was taken from the other credit union the next day (Dec 21). Today is Dec 26, still not showing up in my account on Langley Federal Credit Union. Called Langley several times and they told me it takes 3 to 5 "business days" for the funds to appear. This was never stated on the web site when I made the transfer. Then informed me that the funds will not show up until Dec 28 or 29!!!. This is a credit union to credit union electronic transfer. What the heck!! Still do not have it..
WHY IS A NICE CD AVAILABLE TO NEW MEMBERS ONLY?
i AM WONDERING WHY THIS 10 MONTH cd paying 5.25% NOT AVAILABLE TO MEMBERS AS WELL. DOES THIS MEAN THAT ONCE I BECOME A MEMBER, LANGLEY TREAT ME BADLY? I WILL BE VICTIMIZES NEXT.MEMBERS ARE THE LIFE BLOOD OF ALL CREDIT UNIONS.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 1261 |
| Year Chartered | 1936 |
| Employees | 684 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.25% |
| Return on Equity - YTD | 3.02% |
| Annual Interest Income | $279.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $5.4B$5.45B |
| Loans | Q4 2024vs Q4 2023 | $4.55B$4.66B |
| Deposits | Q4 2024vs Q4 2023 | $4.64B$4.6B |
| Equity Capital | Q4 2024vs Q4 2023 | $444MM$429.1MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $61.6MM$54MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $67.3MM$51.4MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$150K |
