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Overview / Commentary
3176 Fort Ave
Lynchburg, VA 24501

Lynchburg Municipal Employees Federal Credit Union is headquartered in Lynchburg and is the 80th largest credit union in the state of Virginia. It is also the 3,247th largest credit union in the nation. It was established in 1961 and as of September of 2017, it had grown to 8 employees and 3,510 members at 1 location. Lynchburg Municipal Employees Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

The field of membership of this credit union is limited to those employed by one of our listed Select Employee Groups. Membership is also available to: spouses of persons who died while within the field of membership of this credit union; employees of this credit union; persons retired as pensioners or annuitants from the above employment; members of their immediate families or households; and organizations of such persons.
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Reviews (1)

Giving (a little) credit where credit is due

Lynchburg Municipal Employees Federal Credit Union is a solid credit union in an extremely convenient location (right across the street from me!), but with technological shortcomings and archaic processes for some of its services and products.

To begin, my customer service experience has been about average with them. Most of the time, I've had very short waits (1-2 minutes tops), but there have been a time or two when I've had to wait 5-10 minutes to get a transaction done. There are usually 2 people at the counter and one in the drive thru, but at peak hours another person would not hurt. Most of the encounters with the employees have been pleasant, but there have been a couple of times where one of two employees would bother me in how they responded to my inquiries. One time, I asked about how I could order more checks, and she became visibly frustrated when I didn't understand what she was saying about the process. Apparently, I have to use up all my old checks, go back to the Credit Union, send off for more checks and order through them, and have them sent to me after some number of days. An online bank I bank with just allows me to order checks for $5 online and get them in around 7 days. No such option with Lynchburg Municipal.

Speaking of the web/mobile experience, it certainly isn't terrible, but it does nothing to stand out. As I mentioned, there is no option to order checks online. You also can't deposit checks online, you can only have one savings and one checkings account, and the interface is clunky and minimum. You can see estatements, check your transactions, and do transfers, but beyond that, the online site is so-so. There is no mobile version of the site. It is the same site, so the load times are underwhelming. There is no app either.

I've had no issues with the checkings or savings account, but I didn't get any bonus money for opening up either and there isn't much incentive to keep them open. The yields for interests are paltry. I don't remember the interest rate, but I've seen bigger gains from online banks. I've also had issues sometimes where they block my debit card for transactions despite having plenty of money. In fact, I still can't get refill my phone card or make Amazon purchases with the card I have. It only took $5 to start the savings account though, and checking was free, so that was good. There also are no fees for cashing checks or depositing.

All in all, Lynchburg Municipal Employees Federal Credit Union is okay and will get the job done for most, but it feels like it is kind of stuck in the stone ages of banking.

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Lynchburg Municipal Employees Federal Credit Union has a low asset base.

Health Grade Components

NCUA #14623
Year Chartered1961
Primary Regulator
Profit Margin
Return on Assets - YTD1.03%
Return on Equity - YTD5.7%
Annual Interest Income$604.00K
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$23.0MM$21.7MM
LoansQ3 2017vs Q3 2016$9.2MM$9.2MM
DepositsQ3 2017vs Q3 2016$18.8MM$17.7MM
Equity CapitalQ3 2017vs Q3 2016$4.1MM$3.9MM
Loan Loss AllowanceQ3 2017vs Q3 2016$83.00K$25.00K
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$70.00K$0
Real Estate OwnedQ3 2017vs Q3 2016$0$0

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Lynchburg Municipal Employees Federal Credit Union Locations
Branch Office3176 Fort AveLynchburg, VA 24501