Question 1

What is Virginia Credit Union (VACU)?

Accepted Answer

Virginia Credit Union (VACU) is a state-chartered credit union headquartered in Richmond, Virginia. With over $7.1 billion in assets and serving more than 647,000 members, VACU is one of the largest credit unions in Virginia.

The credit union operates 23 branches across central Virginia, providing comprehensive financial services to individuals, families, and businesses throughout the Commonwealth.

Question 2

When was Virginia Credit Union (VACU) founded?

Accepted Answer

Virginia Credit Union was founded in 1928 as a financial cooperative. Originally established to serve a specific community, the credit union has expanded over nearly a century to become a trusted financial partner for members across Virginia.

Throughout its history, VACU has maintained its founding "People Helping People" philosophy while growing to serve diverse communities throughout central Virginia.

Question 3

Where is Virginia Credit Union (VACU) headquartered?

Accepted Answer

Virginia Credit Union is headquartered in Richmond, Virginia. The credit union's main offices are located at P.O. Box 90010, Richmond, VA 23225.

Question 4

Where does Virginia Credit Union (VACU) operate?

Accepted Answer

Virginia Credit Union operates throughout central Virginia with 23 branch locations serving the Richmond metro area and surrounding communities. Members also have access to online banking, mobile app services, and a nationwide network of shared branches and ATMs.

Membership is open to individuals who live, work, worship, or attend school in the Commonwealth of Virginia, making VACU accessible to a wide range of residents.

Question 5

What services does Virginia Credit Union (VACU) offer?

Accepted Answer

VACU provides a comprehensive range of financial products and services including share (savings) accounts, checking accounts, money market accounts, and certificates of deposit. The credit union offers competitive loan products including mortgages, home equity loans and lines of credit, auto loans, personal loans, and credit cards with cash back, rewards points, and low-rate options.

Business banking services include business checking, savings, loans, and credit cards. Digital banking capabilities include robust online banking platforms, mobile apps with mobile deposit, bill pay, and account management tools.

VACU also provides member-focused services such as free financial counseling, financial education workshops and seminars, college scholarships for student members, and wealth management resources.

Question 6

What makes Virginia Credit Union (VACU) unique?

Accepted Answer

VACU distinguishes itself through strong community engagement and member benefits. The credit union contributed over $1 million to charitable causes in 2024 and awarded $150,000 in college scholarships to student members.

VACU focuses its community efforts on financial education, food security, children's health and wellness, and community well-being. More than 100,000 youth and adults participated in financial education programs in 2024. The credit union has donated over $305,000 to the Children's Hospital of Richmond at VCU over the past decade.

Through partnerships like the Strike Out Hunger campaign with the Richmond Flying Squirrels and collaboration with Feed More food bank, VACU demonstrates its commitment to addressing critical community needs. The credit union also hosts initiatives like the Financial Success for Women Summit, providing valuable financial education and networking opportunities.

As a member-owned cooperative, VACU returns earnings to members through competitive rates, lower fees, and enhanced services rather than distributing profits to outside shareholders.

Question 7

What type of financial institution is Virginia Credit Union (VACU)?

Accepted Answer

Virginia Credit Union is a state-chartered credit union regulated by the Virginia State Corporation Commission and federally insured by the National Credit Union Administration (NCUA). Member deposits are insured up to $250,000 per account.

As a not-for-profit financial cooperative, VACU is owned by its members, who each have equal voting rights regardless of account balance. This cooperative structure allows the credit union to prioritize member benefits and community impact over profit maximization.

Membership is open to anyone who lives, works, worships, or attends school in Virginia, as well as immediate family members and household members of current members, providing lifelong membership benefits.

Virginia Credit Union (VACU)

in the United States 🇺🇸

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About Virginia Credit Union (VACU) in the United States