Question 1

What is Henrico Federal Credit Union?

Accepted Answer

Henrico Federal Credit Union is a community-focused federal credit union headquartered in Henrico, Virginia, serving the greater Richmond area. With approximately $477 million in assets and over 31,000 members, the credit union operates 9 branch locations throughout the region. Originally established to serve Henrico County employees, it has expanded to serve anyone who lives, works, worships, or attends school in over 20 counties and cities in the Richmond metropolitan area.

Question 2

When was Henrico Federal Credit Union founded?

Accepted Answer

Henrico Federal Credit Union was founded in 1967 by a group of Henrico County employees who came together to create a financial cooperative for their colleagues. The credit union was established to provide accessible financial services to county workers and government employees. Over the decades, it has evolved from a small employee-based institution into a full-service community credit union, expanding its membership eligibility in 2011 to serve the broader Richmond area while maintaining its commitment to the original founding members and their families.

Question 3

Where is Henrico Federal Credit Union headquartered?

Accepted Answer

Henrico Federal Credit Union is headquartered at 9401 W Broad Street in Henrico, Virginia.

Question 4

Where does Henrico Federal Credit Union operate?

Accepted Answer

Henrico Federal Credit Union operates throughout the greater Richmond area with 9 branch locations. The credit union serves members who live, work, worship, or attend school in Henrico County and over 20 surrounding counties and cities, including Chesterfield County, Hanover County, Goochland County, New Kent County, the City of Petersburg, Powhatan County, Prince George County, the City of Richmond, and Sussex County. The credit union also maintains strong relationships with specific employment groups, including Henrico County government employees and staff at the Defense Supply Center Richmond (DSCR). Immediate family members of existing members are also eligible to join regardless of location.

Question 5

What services does Henrico Federal Credit Union offer?

Accepted Answer

Henrico Federal Credit Union offers a comprehensive range of financial products and services. These include share savings accounts, checking accounts (with relationship pricing when members sign up for eStatements and direct deposit), certificates of deposit, auto loans, real estate loans, personal loans, and credit cards. Digital services include a mobile banking app available on the App Store and Google Play, online banking through their Digital Banking platform, and Voice Banking for 24/7 automated phone account access at 804.262.8502. Members can also access their accounts through the nationwide Co-Op Shared Branch network. The credit union provides ATM services with no-fee ATM access at multiple locations, debit cards with fraud protection features, and bill pay services.

Question 6

What makes Henrico Federal Credit Union unique?

Accepted Answer

Henrico Federal Credit Union stands out for its strong commitment to community engagement and financial education. The credit union offers over 20 free financial education classes covering topics from first-time car buying and budgeting to fraud protection and credit score management. These workshops are available to all community members, reflecting the credit union's mission to empower individuals with financial knowledge through their Financial Education program. The credit union actively supports local nonprofits, particularly the Henrico Education Foundation, and sponsors community events such as the Sky Glow Night hot air balloon festival. Their member referral program rewards existing members who bring in new members, reinforcing the cooperative spirit. The credit union also operates Bellwood Credit Union as a division, providing additional branch access with shared leadership and services.

Question 7

What type of financial institution is Henrico Federal Credit Union?

Accepted Answer

Henrico Federal Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA) and operates under charter number 18175. As a member-owned, not-for-profit financial cooperative, the credit union is owned by its members rather than shareholders. When someone opens an account, they become a partial owner of the institution. This cooperative structure allows the credit union to focus on providing value to members through competitive rates, lower fees, and community investment rather than maximizing profits for external investors. All member deposits are federally insured by the National Credit Union Share Insurance Fund (NCUSIF) up to $250,000 per account type. The credit union is classified as a community credit union, serving individuals based on geographic location rather than employment or associational affiliation.

Henrico Federal Credit Union

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About Henrico Federal Credit Union in the United States