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 September of 2022, it had grown to 687 employees and 349,120 members at 21 locations. Langley Federal Credit Union's money market rates are 8X the national average, and it has a B+ health rating.
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
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!
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.
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.
Applied for membership online. Received email denying membership with no explanation. Called for help and explanation. After long unproductive and contentious conversation was told identity could not be verified. Told to reapply online with different email. I am member in good standing of 5 other CUs with CDs. Was willing to provide passport, drivers license, voters registration, etc., to verify identity, but to no avail. Representative was curt, unwilling or unable to help.
Overall | |
---|---|
NCUA # | 1261 |
Year Chartered | 1936 |
Employees | 687 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.74% |
Return on Equity - YTD | 8.52% |
Annual Interest Income | $116.4MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q3 2022vs Q3 2021 | $5.00B$4.03B |
Loans | Q3 2022vs Q3 2021 | $4.21B$2.99B |
Deposits | Q3 2022vs Q3 2021 | $4.08B$3.35B |
Equity Capital | Q3 2022vs Q3 2021 | $410.8MM$387.1MM |
Loan Loss Allowance | Q3 2022vs Q3 2021 | $18.0MM$29.0MM |
Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $30.2MM$10.6MM |
Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
3.51%* | - | $1k | Langley Saves | ||
OTHER TIERS: 0.05% → $2.5k+ | 1.00% → $1k - $2.5k | |||||
0.05% | $100 | - | Savings Account |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.50% | $10k | - | Platinum Checking |