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 56th largest credit union in the nation. It was established in 1928 and as of December of 2018, it had grown to 679 employees and 277,835 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.
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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.

Excessive NSF Fees

Posted by: USAFS12 | Jan 26, 2019

The VACU is notorious for Excessive NSF Fees. They are very practiced in the art of extorsion when it comes to these fees. The reason that you do not read about numerous law suits regarding excessive NSF Fees (although there are quite a few out there) is because they settle most of these out of court. Of course they have a large body of high priced corporate lawyers that could challenge and most likely win many, if not most of these law suits. However the mere fact that a case goes to court will tarnish their reputation. They are afraid the bad reputation will thwart new business/suckers. Therefore VACU continues to charge excessive illegal NSF Fees, then when you threaten to take them to court they simply offer a large amount of money to settle. Most accept the bribe as they know that if they go to court there is a very good chance they may see nothing at all. The best thing to do is to stay away from this bank altogether. Virginia Credit Union is an extremely shady organization and they do not operate with the legalities and norms that a professional organization of this stature should.

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Health
B+

Health Grade Components

Overall
NCUA #66836
Year Chartered1928
Employees679
Primary Regulator
Profit Margin
Return on Assets - YTD0.99%
Return on Equity - YTD10.66%
Annual Interest Income$154.7MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$3.64B$3.49B
LoansQ4 2018vs Q4 2017$2.60B$2.40B
DepositsQ4 2018vs Q4 2017$2.89B$2.82B
Equity CapitalQ4 2018vs Q4 2017$333.9MM$301.8MM
Loan Loss AllowanceQ4 2018vs Q4 2017$34.0MM$27.9MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$31.4MM$27.7MM
Real Estate OwnedQ4 2018vs Q4 2017$403.00K$368.00K
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*-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 15-22)
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
2.96%*$100k*-60 Month CD
OTHER TIERS: 2.65% $500 - $5k | 2.66% $5k - $50k | 2.81% $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
2.11%*$100k*-12 Month CD
OTHER TIERS: 1.80% $500 - $50k | 1.96% $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
2.96%*$100k*-60 Month IRA
OTHER TIERS: 2.65% $100 - $5k | 2.66% $5k - $50k | 2.81% $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
2.11%*$100k*-12 Month IRA
OTHER TIERS: 1.80% $100 - $50k | 1.96% $50k - $1m
2.01%*$100k*-18 Month Variable IRA
OTHER TIERS: 1.70% $100 - $50k | 1.85% $50k - $1m
Locations

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