RVA Financial

Overview / Commentary
1700 Robin Hood Rd
Richmond, VA 23220

RVA Financial is headquartered in Richmond and is the 52nd largest credit union in the state of Virginia. It is also the 2,048th largest credit union in the nation. It was established in 1950 and as of December of 2023, it had grown to 17 employees and 9,053 members at 2 locations. RVA Financial has a B health rating.

Field of Membership Restrictions

Membership is open to those who live, work, attend school, and worship in the city of Richmond, Virginia and the surrounding counties of Goochland, Chesterfield, Henrico and Hanover. Immediate family are also eligible.
See current membership details

Reviews (2)

Poor Review

Posted by: |

I've resided in Richmond since returning back in 2000, and joined this Credit Union (formerly VaCap) due to ex-wife's involvement. Since then I've had nothing but raving reviews until the last 6 months. After moving to Southside Richmond, I maintained an account and a branch were opened to accommodate Southside residents. This was great! Except within the last couple months, this branch closed with no apparent explanation and now Southside residents are left to drive across town for any banking transactions. To make matters worse, Branch hours are only Monday-Friday (9a-5p,) when most adults are working. So in order to accommodate the working class (99%) most people are now forced to take off work just to make any transactions.
It appears that this Credit Union is geared towards keeping members out of the institution (forcing online transactions) when most people prefer face-to-face communications, or have transactions requiring walk-in. I’ve carried around business checks for two weeks simply because the hours are not accommodating, and I cannot afford to take off “just to” make a banking transaction.
This is poor service and doesn’t reflect a business looking out for its members. I’ve been a member for about fifteen years, and as soon as I switch over my direct deposit transactions, I will be closing this account. I want a bank more geared towards its members needs, after all, that’s why you’re in business.

Very Disappointed......

I had to roll over an old car loan into my new car purchase spoke with loan officer and was told what amount I could get and we discussed everything of what would be included. Unfortunately, that never happened and now I have two car payments.....don't trust the professional!!!!!

Wouldn't recommend them ever there so small they of a FCU they should work with you....

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. RVA Financial has a relatively low asset base.

Health Grade Components

NCUA #6878
Year Chartered1950
Primary Regulator
Profit Margin
Return on Assets - YTD0.03%
Return on Equity - YTD0.33%
Annual Interest Income$3.3MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$79.3MM$79.9MM
LoansQ4 2023vs Q4 2022$54MM$57.2MM
DepositsQ4 2023vs Q4 2022$65.5MM$71MM
Equity CapitalQ4 2023vs Q4 2022$7.6MM$7.5MM
Loan Loss AllowanceQ4 2023vs Q4 2022$327K$371K
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$304K$335K
Real Estate OwnedQ4 2023vs Q4 2022$0$0
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RVA Financial Savings Account Rates

0.16%$5-Savings Accounts w/ Platinum Relationship
0.16%$5-IRA Savings Accounts w/ Platinum Relationship
0.16%$5-Holiday Club Accounts w/ Platinum Relationship
0.11%$5-Savings Accounts w/ Gold Relationship
0.11%$5-IRA Savings Accounts w/ Gold Relationship
0.11%$5-Holiday Club Accounts w/ Gold Relationship
0.06%$5-Savings Accounts w/ Silver Relationship
0.06%$5-IRA Savings Accounts w/ Silver Relationship
0.06%$5-Holiday Club Accounts w/ Silver Relationship
0.01%$5-Savings Accounts
0.01%$5-IRA Savings Accounts
0.01%$5-Holiday Club Accounts

RVA Financial Money Market Rates

0.05%$10k-Money Market
0.05%$10k-Super Money Market

RVA Financial Checking Account Rates

2.00%-$3kRVA Premier Checking Account
2.00%--RVA Empowerment Checking Account

RVA Financial CD Rates

0.70%$500-60 Month Share Certificate
0.60%$500-48 Month Share Certificate
0.50%$500-36 Month Share Certificate
0.40%$500-24 Month Share Certificate
0.30%$500-12 Month Share Certificate

RVA Financial IRA Rates

0.70%$500-60 Month IRA Share Certificate
0.60%$500-48 Month IRA Share Certificate
0.50%$500-36 Month IRA Share Certificate
0.40%$500-24 Month IRA Share Certificate
0.30%$500-12 Month IRA Share Certificate

RVA Financial Locations
Branch Office1700 Robin Hood RdRichmond, VA 23220
Branch OfficeCity Hall 900 E Broad StRichmond, VA 23219-1907

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