Langley Federal Credit Union


Overview / Commentary
757-827-5328
721 Lakefront Cmns
Newport News, VA 23606

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 80th largest credit union in the nation. It was established in 1936 and as of December of 2021, it had grown to 655 employees and 321,042 members at 23 locations. Langley Federal Credit Union's money market rates are 2X the national average, and it has an A 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

Related Posts

Langley Federal Credit Union Debuts Nationwide 27-Month Promo Certificate - 5/1/2022

Langley Federal Credit Union (easy membership) has a competitive 27-month CD Special, which can be opened with a $500 minimum opening deposit of new money.

Langley Federal Credit Union Adds 22-Month Promo Certificate - 2/25/2022

Langley Federal Credit Union has added a competitive 22-month CD Special, which can be opened with a $1k minimum opening deposit of new money.

Langley Federal Credit Union Brings Back 14-Month Promo Certificate - 1/5/2022

Langley Federal Credit Union has brought back the competitive 14-month CD Special, which can be opened with a $10k minimum opening deposit of new money.

View all posts from:


Reviews (8)

Langley FCU Charges Fee To Move Your IRA To Another Institution

Opened an IRA CD when they had the 1% CD special recently. When I received the certificate in the mail, I discovered there is a $20 charge to move the IRA to another institution.

1.5% 22 Month CD

In mouse type @ bottom of page says: "To qualify for the offer, certificates must be funded completely with new deposits or new members in VA, NC, MD, and DC. "
I'm going to email them to see if that quashes new deposits & new members from outside those states.
Can't really rate as I've not done business with Langley yet.

Langley FCU Smart Checking Account

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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.

Too Much Trouble

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Tried repeatedly to open a membership account online. Once an effort was unsuccessful, I would call and have to hold on the first member services line for about 30 minutes, then on new membership service for about 30 minutes to talk with someone. Each time I followed their instructions only for the next application to be unsuccessful. Eventually i was told the I would need to come in personally and that requirement had been established after the first unsuccessful attempt to join online(and after I had called before my first attempt to be sure online membership existed). Since I don't live close the location of this institution, going there isn't possible. I simply wasted a bunch of time for NOTHING.

Difficult To Open Account

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I tried to open an account online over the weekend. The good news is they require very little information. The bad news is they could not complete my account opening, and I would hear from someone in 2 business days. I called them Thursday morning and was told the account would be open by the end of the day. Nothing. Called Friday morning and was told I would have the paperwork in an hour. Got the paperwork, and my name was spelled wrong. I was on hold for 11 minutes, after speaking to a customer service rep, just to get my name spelled correctly. They sent a corrected docusign, which I completed. Then I kept getting docusign notices to sign the one with the incorrect name. I will say that I completed a survey and spelled this out, and a rep contacted me. She was able to cancel the incorrect docusign.

New 14 Month 1.25% CD Max Amount Is $10,000

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What a disappointment. The fine print says if you deposit more than $10,000 the balance goes in your savings account.

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.



Health

Health Grade Components

Overall
NCUA #1261
Year Chartered1936
Employees655
Primary Regulator
Profit Margin
Return on Assets - YTD1.21%
Return on Equity - YTD12.23%
Annual Interest Income$123.0MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$4.20B$3.64B
LoansQ4 2021vs Q4 2020$3.20B$2.65B
DepositsQ4 2021vs Q4 2020$3.49B$3.00B
Equity CapitalQ4 2021vs Q4 2020$407.4MM$353.5MM
Loan Loss AllowanceQ4 2021vs Q4 2020$30.0MM$29.0MM
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$17.8MM$11.5MM
Real Estate OwnedQ4 2021vs Q4 2020$0$0
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*-$1kLangley Saves
OTHER TIERS: 0.05% $1k+
0.05%$100-Savings Account

Langley Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$1m*-Platinum Money Market Savings
OTHER TIERS: 0.40% $25k - $100k | 0.50% $100k - $250k | 0.75% $250k - $500k | 0.85% $500k - $1m
1.00%*$1m*-Business Platinum Money Market
OTHER TIERS: 0.40% $25k - $100k | 0.50% $100k - $250k | 0.75% $250k - $500k | 0.85% $500k - $1m
0.45%*$100k*-Traditional Money Market Savings
OTHER TIERS: 0.05% $100 - $2.5k | 0.10% $2.5k - $10k | 0.15% $10k - $25k | 0.25% $25k - $50k | 0.30% $50k - $100k
0.45%*$100k*-Business Money Market
OTHER TIERS: 0.05% $100 - $2.5k | 0.10% $2.5k - $10k | 0.15% $10k - $25k | 0.25% $25k - $50k | 0.30% $50k - $100k
0.20%$100-Money Market IRA

Langley Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%$10k-Platinum Checking

Langley Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%$500-Business 60 Month CD w/ Active Rewards
2.50%$500-60 Month CD w/ Active Rewards
2.25%$500-27 Month CD Special - New Money
2.25%$500-Business 27 Month CD Special - New Money
1.75%$500-Business 36 Month CD w/ Active Rewards
1.75%$500-Business 48 Month CD w/ Active Rewards
1.75%$500-36 Month CD w/ Active Rewards
1.75%$500-48 Month CD w/ Active Rewards
1.50%$500-Business 24 Month CD w/ Active Rewards
1.50%$500-24 Month CD w/ Active Rewards
1.25%$500-Business 12 Month CD w/ Active Rewards
1.25%$500-Business 18 Month CD w/ Active Rewards
1.25%$500-12 Month CD w/ Active Rewards
1.25%$500-18 Month CD w/ Active Rewards
0.35%$500-Business 6 Month CD w/ Active Rewards
0.35%$500-6 Month CD w/ Active Rewards
0.20%$500-Business 3 Month CD w/ Active Rewards
0.20%$500-3 Month CD w/ Active Rewards

Langley Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%$500-60 Month IRA
2.25%$500-27 Month IRA Special -New Money
1.75%$500-36 Month IRA
1.75%$500-48 Month IRA
1.50%$500-24 Month IRA
1.25%$500-12 Month IRA
1.25%$500-18 Month IRA
Locations

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