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Virginia Educators Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
1.16%5-year CD60 Month Share Certificate
0.20%1-year CD12 Month Share Certificate
0.10%SavingsPrime Share - Apple Plus Members

Overview / Commentary
757-930-2425
12626 Nettles Dr
Newport News, VA 23606

Virginia Educators Credit Union is headquartered in Newport News and is the 61st largest credit union in the state of Virginia. It is also the 2,077th largest credit union in the nation. It was established in 1954 and as of June of 2016, it had grown to 8 employees and 7,287 members at 2 locations. Virginia Educators Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership is open to employees, students, faculty and alumni of Hampton University; students of Thomas Nelson Community College; students, those employed by educational organizations, and those involved in school auxiliaries in Williamsburg, Newport News; James City County; York County; Isle of Wight County; Gloucester County; Mathews County.
See current membership details

Reviews (3)

Customer Service Does Not Allow A 5 Star Rating

Posted by: adneskefi1 | Mar 5, 2012

It is extremely difficult to reach someone at VECU and when you do finally reach someone you are disconnected constantly. This makes paying bills or working out payment extremely difficult. I have also had some very bad experiences with the customer service representatives who were very rude and not very helpful. 

A Bank That Cannot Be Reached During Business Hours Is Useless

I have been trying constantly for two days to talk to someone to clear my debit card for use while I am out of the country. Every time I call, I get a recorded message that says they are experiencing high call volume and will return my call. Other banks give you the option to be put on hold. They did return my call--after business hours while I was dining out with friends. Completely unacceptable.

Horrible Bank

Posted by: mackenzie | Sep 20, 2012

This is the worst banking institution i have ever dealt with. You can only call during certain hours for help (& thats even w/a debit card -their help is not 24/7, VECU will only help you when it is convenient for them). If you want to change your address you can only do that by going inside their office (you cant change your address online or over the phone, you either go inside the office or print out an online form fill it out get it notarized & mail it in). If there is a fraud allert (which no one will tell you when you call, you actually have to mention "hey is there a fraud alert on my account") you cant call the bank to release the hold, you actually have to call an outsourced company (like, hang up w/the bank then dial another number) & the outsourced company releases the hold. VECU charges you every time you use your debit card as a debit card (but apparently other banking institutions are also doing that). Their customer service skills are seriously lacking, and all of my friends that use this 'credit union' report the same problems.



Health
B+
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. Virginia Educators Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #66700
Year Chartered1954
Employees8
Primary Regulator
Profit Margin
Return on Assets - YTD0.3%
Return on Equity - YTD2.77%
Annual Interest Income$675.00K
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$61.9MM$59.9MM
LoansQ2 2016vs Q2 2015$19.3MM$20.7MM
DepositsQ2 2016vs Q2 2015$54.8MM$53.1MM
Equity CapitalQ2 2016vs Q2 2015$6.8MM$6.5MM
Loan Loss AllowanceQ2 2016vs Q2 2015$130.00K$162.00K
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$127.00K$142.00K
Real Estate OwnedQ2 2016vs Q2 2015$0$0
Rates
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Virginia Educators Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$100-Traditional IRA - Apple Members
0.25%$100-Roth IRA - Apple Members
0.25%$100-Roth IRA - Apple Platinum Members
0.25%$100-Traditional IRA - Apple Platinum Members
0.25%$100-Roth IRA - Apple Plus Members
0.25%$100-Traditional IRA - Apple Plus Members
0.20%$200-All Purpose Club - Apple Platinum Members
0.20%$200-Holiday Club - Apple Platinum Members
0.20%$200-Prime Share - Apple Platinum Members
0.20%$200-Vacation Club/Summer Reserve - Apple Platinum Members
0.10%$200-Prime Share - Apple Plus Members
0.10%$200-Vacation Club/Summer Reserve - Apple Plus Members
0.10%$200-Holiday Club - Apple Plus Members
0.10%$200-All Purpose Club - Apple Plus Members

Virginia Educators Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$2,500-Share Draft Checking - Apple Platinum Members

Virginia Educators Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.16%$1k-60 Month Share Certificate
0.55%$1k-48 Month Share Certificate
0.40%$1k-36 Month Share Certificate
0.30%$1k-24 Month Share Certificate
0.20%$1k-12 Month Share Certificate
0.15%$1k-6 Month Share Certificate

Virginia Educators Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.16%$1k-60 Month IRA Certificate
0.55%$1k-48 Month IRA Certificate
0.40%$1k-36 Month IRA Certificate
0.30%$1k-24 Month IRA Certificate
0.20%$1k-12 Month IRA Certificate
Locations


Virginia Educators Credit Union Locations
Branch Office812 Main StNewport News, VA 23605
Branch Office12626 Nettles DrNewport News, VA 23606