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New Generations Federal Credit Union

Popular Accounts at this Credit Union

1.76%5-year CD5 Year Share Certificate
0.65%1-year CD1 Year Share Certificate
0.10%SavingsPrimary Shares

Overview / Commentary
1700 Robin Hood Rd
Richmond, VA 23220

New Generations Federal Credit Union is headquartered in Richmond and is the 63rd largest credit union in the state of Virginia. It is also the 2,074th largest credit union in the nation. It was established in 1950 and as of June of 2017, it had grown to 35 employees and 13,264 members at 3 locations. New Generations Federal Credit Union 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, Hanover, and Henrico
See current membership details

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Reviews (2)

Poor Review

Posted by: rwyatt | May 30, 2015

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. New Generations Federal Credit Union has a relatively low asset base.

Health Grade Components

NCUA #6878
Year Chartered1950
Primary Regulator
Profit Margin
Return on Assets - YTD0.4%
Return on Equity - YTD5.63%
Annual Interest Income$1.4MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$64.0MM$64.1MM
LoansQ2 2017vs Q2 2016$41.5MM$46.2MM
DepositsQ2 2017vs Q2 2016$58.8MM$58.6MM
Equity CapitalQ2 2017vs Q2 2016$4.6MM$5.1MM
Loan Loss AllowanceQ2 2017vs Q2 2016$937.00K$585.00K
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$397.00K$1.1MM
Real Estate OwnedQ2 2017vs Q2 2016$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.

New Generations Federal Credit Union Savings Account Rates

0.20%--IRA Share Savings
0.10%*$1,500*-Primary Shares
OTHER TIERS: 0.05% $500 - $1,500
0.10%*$500*-Youth Account
OTHER TIERS: 0.05% Up to $500
0.05%$200-Holiday Club
0.05%$200-Vacation Club

New Generations Federal Credit Union Money Market Rates

0.25%*$100k*-Super Money Market
OTHER TIERS: 0.15% $10k - $50k | 0.20% $50k - $100k
0.05%$1,500-Money Market

New Generations Federal Credit Union Checking Account Rates

0.15%--Reward Checking

New Generations Federal Credit Union CD Rates

1.76%$1k-5 Year Share Certificate
1.26%$1k-3 Year Share Certificate
0.85%$1k-2 Year Share Certificate
0.65%$1k-1 Year Share Certificate
0.10%$1k-6 Month Share Certificate
0.05%$1k-90 Day Share Certificate

New Generations Federal Credit Union IRA Rates

1.76%$1k-5 Year IRA Share Certificate
1.26%$1k-3 Year IRA Share Certificate
0.85%$1k-2 Year IRA Share Certificate
0.65%$1k-1 Year IRA Share Certificate
0.10%$1k-6 Month IRA Share Certificate
0.05%$1k-90 Day IRA Share Certificate

New Generations Federal Credit Union Locations
Branch Office1700 Robin Hood RdRichmond, VA 23220
Branch OfficeCity Hall 900 E Broad StRichmond, VA 23219-1907
Branch Office801 Branchway RdNorth Chesterfield, VA 23236-3903