Langley Federal Credit Union is headquartered in Newport News and is the 5th largest credit union in the state of Virginia. It is also the 85th largest credit union in the nation. It was established in 1936 and as of March of 2019, it had grown to 526 employees and 255,583 members at 20 locations. Langley Federal Credit Union's money market rates are 5X the national average, and it 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.
CD Rates June 2019
CD rates for Langley can be found at: https://www.langleyfcu.org/deposits-certificate
I don't know why they are not listed on Deposit Accounts.
Could Have Been Great - If They Followed Up On Communication
I joined Langley about a month ago, and soon after saw they had a promotion for auto refinance: $250 cash, and they also give you back 10% of the interest you pay. The rate was the same as I'm paying now, so I decided to do it. Unfroze my credit report since they said a new pull was required for auto (even in the 30 day window from joining), and did the online app. It sat there for about 2 weeks as pending, with no communication from Langley at all. I called a few times to check on it and was always promised someone would get back/reach out to me, but no one ever did. I was definitely unimpressed at this point so I decided to see if email would be a better avenue. After some googling, found a VP of Consumer lending and sent an email explaining everything to him - no reply. Finally the status changed to DECLINED, reason: Not eligible for membership in this CU. WHAT?! So I called them yet again, and explained that I was already a member, and I applied through online banking so my member # was on the application. The CSR was as confused as I was, but they promised to have a supervisor look into it. A few more days passed w/o communication, so I called in again. A very nice and apologetic gentleman said he really wanted to help me and promised he'd call back within 24 hours or so - this was a week ago, and I still have yet to hear from anyone. I tried emailing higher up just to see if anyone would follow up with me, and 4 business days later, no one has reached out. I can't imagine continuing to do any kind of business with a credit union that so blatantly ignores its members.
Data as of Q1 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 1261 |
| Year Chartered | 1936 |
| Employees | 526 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.08% |
| Return on Equity - YTD | 10.27% |
| Annual Interest Income | $29.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2019vs Q1 2018 | $2.95B$2.61B |
| Loans | Q1 2019vs Q1 2018 | $2.14B$1.99B |
| Deposits | Q1 2019vs Q1 2018 | $2.36B$2.14B |
| Equity Capital | Q1 2019vs Q1 2018 | $302.3MM$280.5MM |
| Loan Loss Allowance | Q1 2019vs Q1 2018 | $16.9MM$17.7MM |
| Unbacked Noncurrent Loans | Q1 2019vs Q1 2018 | $14.5MM$14.7MM |
| Real Estate Owned | Q1 2019vs Q1 2018 | $739.00K$403.00K |
Always verify rates and promotions with the bank or credit union. We are not Langley Federal 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.
Langley Federal Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.21%* | $5 | $1k | Langley Saves | ||
| OTHER TIERS: 0.05% → $1k+ | |||||
| 0.05% | $100 | - | Savings Account | ||
| 0.05% | $100 | - | U-Win Savings | ||
Langley Federal Credit Union Money Market Rates
Langley Federal Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.00% | $10k | - | Platinum Checking | |
| 0.25% | $1k | $1k | LangleyPays Checking |
Langley Federal Credit Union CD Rates
Langley Federal Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.53% | $500 | - | 60 Month IRA | |
| 2.27% | $500 | - | 12 Month IRA | |
| 2.27% | $500 | - | 18 Month IRA | |
| 2.27% | $500 | - | 24 Month IRA | |
| 2.27% | $500 | - | 36 Month IRA | |
| 2.27% | $500 | - | 48 Month IRA | |
| 2.27% | $500 | - | 30 Month IRA |
