Virginia Credit Union


Overview / Commentary
804-323-6800
7500 Boulder View Dr
North Chesterfield, VA 23225-4046

Virginia Credit Union is headquartered in North Chesterfield and is the 3rd largest credit union in the state of Virginia. It is also the 58th largest credit union in the nation. It was established in 1928 and as of June of 2019, it had grown to 686 employees and 286,553 members at 20 locations. Virginia Credit Union's money market rates are 3X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Virginia Credit Union is open to anyone through membership in the Friends of the Central Rappahannock Regional Library ($10 membership fee), Friends of the Chesterfield County Public Library ($15 membership fee), or Friends of the Henrico County Public Library ($10 membership fee). Membership is also open to those who live, work, attend school or worship in Buckingham, Cumberland, Nottoway or Prince Edward Counties and the City of Richmond, Petersburg, Hopewell, or Fredericksburg and to employees and retirees of the Commonwealth of Virginia, any county, city or town government, or public school system in Virginia, any Virginia state-funded college or university, Randolph-Macon College, University of Richmond, or Virginia Union University, and employees of the credit union's Select Employer Group.
See current membership details

Great Institution

I have really enjoyed banking with Virginia Credit Union. I moved to them after being unhappy with Wells Fargo. It was very easy to become a member since a both work and live in the city of Richmond. They came to my place of employment and helped me set up my checking and savings account. At the time I was also thinking about getting a home equity loan and they were very good at helping me understand how the process works. The customer service here is amazing. They have very reasonable interest rates. For being a credit union they have many locations that are very convenient to me. I will be selling my home and purchasing a new one soon and will be getting my mortgage through them.

The Best Credit Union of all time!!!

I have been a member of VACU for over 20 years and my experiences with the VACU as it relates to the institution's deposit accounts (Savings and Checking) has truly been spectacular!!! The service, products, and customer service are exceptional and in a league of their own. Opening a regular checking account is free and requires no minimum balance. Opening of a savings account only requires $5.00 and there is no monthly maintenance fee nor service charge fee which allows me to save even more. Every time I call or even visit the location the clerks and customer service agents are friendly, professional, and always willing to help. VACU is the best credit union of all time and I would recommend them to everyone. A++++ service!

Virginia Credit Union

I used to bank with Virginia Credit Union. It was a nice starter account, had a bit of interest on it. However, there was no such thing as a free account unless you had a large amount in the account for the month. This was a major drawback for a student. Also, there were not many ATMs that were free to use, because the ATM network was very small and those fees add up. The idea of not using a huge corporate bank was great until the inconvenient truth set in. Also, when trying to close my account it was a hassle, because you can't do it over the phone without verifying your address for the last 3 years, down to the apartment letter. Sorry, but I don't keep track of the apartment letter I lived in years ago.

Poor Interest Rates

I have been a member of VACU for almost 20 years. I keep the account open because it was one of my first accounts. However, the interest rates they offer are dismal compared with other local banks in the Richmond area. I really want to use them for more services and transactions, but not until the savings, CD, and money market rates improve and are comparable with other credit unions and banks I have access to. Overall, I have had no major problems, but I did have to close my checking account because I could not deposit checks at ANY VACU ATM and no one I spoke to from the credit union could tell me why. They wanted to blame it on the check, yet they took the check when I made the deposit with a teller. I later found out my cousin had the same issue with depositing checks with no explanation from the credit union. I likely will keep at least a basic savings account open with them only because I have been with them so long, but will not use them extensively until their rates and technology improve.

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Health
B+

Health Grade Components

Overall
NCUA #66836
Year Chartered1928
Employees686
Primary Regulator
Profit Margin
Return on Assets - YTD0.96%
Return on Equity - YTD9.81%
Annual Interest Income$85.6MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$3.72B$3.58B
LoansQ2 2019vs Q2 2018$2.67B$2.48B
DepositsQ2 2019vs Q2 2018$2.90B$2.89B
Equity CapitalQ2 2019vs Q2 2018$363.8MM$311.8MM
Loan Loss AllowanceQ2 2019vs Q2 2018$36.8MM$29.9MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$28.7MM$26.1MM
Real Estate OwnedQ2 2019vs Q2 2018$170.00K$281.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Virginia 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.

Virginia Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$100-Health Savings Account
0.30%*$500*-Regular Savings Account
OTHER TIERS: 0.05% $100 - $500

Virginia Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*$250k*-Premium Plus Money Market
OTHER TIERS: 0.05% $100 - $25k | 1.00% $25k - $50k | 1.05% $50k - $100k | 1.25% $100k - $250k
0.70%*$10k*-Premium Money Market
OTHER TIERS: 0.05% $100 - $10k

Virginia Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%*$5k*-Checking Plus
OTHER TIERS: 0.05% $1 - $5k
0.40%*$5k*-Extra Credit Checking (age 13-22)
OTHER TIERS: 0.05% $1 - $5k
0.40%*$5k*-Enhanced Benefit Checking
OTHER TIERS: 0.05% $1 - $5k

Virginia Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.91%*$100k*-60 Month CD
OTHER TIERS: 2.60% $500 - $5k | 2.61% $5k - $50k | 2.76% $50k - $1m
2.71%*$100k*-48 Month CD
OTHER TIERS: 2.40% $500 - $5k | 2.41% $5k - $50k | 2.56% $50k - $1m
2.51%*$100k*-36 Month CD
OTHER TIERS: 2.20% $500 - $50k | 2.36% $50k - $1m
2.36%*$100k*-24 Month CD
OTHER TIERS: 2.05% $500 - $50k | 2.21% $50k - $1m
2.16%*$100k*-12 Month CD
OTHER TIERS: 1.85% $500 - $50k | 2.01% $50k - $1m
1.61%*$100k*-6 Month CD
OTHER TIERS: 1.30% $500 - $50k | 1.45% $50k - $1m

Virginia Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.91%*$100k*-60 Month IRA
OTHER TIERS: 2.60% $100 - $5k | 2.61% $5k - $50k | 2.76% $50k - $1m
2.71%*$100k*-48 Month IRA
OTHER TIERS: 2.40% $100 - $5k | 2.41% $5k - $50k | 2.56% $50k - $1m
2.51%*$100k*-36 Month IRA
OTHER TIERS: 2.20% $100 - $50k | 2.36% $50k - $1m
2.36%*$100k*-24 Month IRA
OTHER TIERS: 2.05% $100 - $50k | 2.21% $50k - $1m
2.16%*$100k*-12 Month IRA
OTHER TIERS: 1.85% $100 - $50k | 2.01% $50k - $1m
2.11%*$100k*-18 Month Variable IRA
OTHER TIERS: 1.80% $100 - $50k | 1.96% $50k - $1m
Locations

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