History

What is our History?

Our history humbly begins in 1960.

In the print shop closet at Princess Anne High School, a group of teachers decided to create a financial institution to serve their financial needs.

Due to their thrift, we continue to grow into the premier credit union for all Virginia Beach City Public Schools, Accomack and Northampton County Schools, and Virginia Wesleyan College.

In addition, we serve employees of the Virginia Beach Adult Learning Center, St. John the Apostle Catholic School, and the Art Institute of Virginia Beach.

What is VBSFCU?

VBSFCU is a not-for-profit financial cooperative owned and operated by our members for the benefit of all who belong – and founded on the philosophies of “people helping people” and “not for profit, but for service.”

Volunteer Board of Directors

Unlike some financial institutions, our volunteer Board of Directors are member-owners who work in the best interest of other member-owners.

Without shareholders to pay, profits are returned to members in the form of lower loan rates, low or no-fee products and services, and competitive share savings rates.

What Is Our Mission?

The mission of Virginia Beach Schools Federal Credit Union is to promote the financial well being of our members.

We strive to uphold this commitment by striving to help all members (owners) realize their financial goals by our singular dedication to understanding and satisfying their individual needs.

Core Values

Our mission is built on the foundation of our core values;

I will…

  • Deliver excellent service
  • Listen & help our members achieve their dreams
  • Be passionate & dedicated
  • Always do the right thing
  • Be humble & strive to build strong relationships
  • Pursue continuing education & personal growth
  • Be a solution provider

What Is A Credit Union?

A credit union is a not-for-profit financial cooperative owned and operated by its members and founded on the philosophies of “people helping people” and “not for profit, but for service.” Credit union members are united by a common bond of membership.

A prime share deposit account represents a share of ownership for our member-owners; however, at a bank, the owners are typically small groups of investors.

Through cooperative efforts, members enjoy greater access to free or discounted services, higher savings rates, and lower loan rates as compared to most for-profit financial institutions.

At a bank, only investors benefit from profits.

Find Credit Unions World Wide

Credit unions worldwide offer members from all walks of life much more than other financial services. 

Credit Unions give members the ability to own a financial institution and help create opportunities such as:

  • starting small businesses,
  • growing farms,
  • building family homes and:
  • educating their children.

Regardless of account size in the credit union, each member may run for the volunteer Board of Directors and vote in elections.

In some countries, members encounter their first taste of democratic decision making through their credit unions.

Why We Need You!

Credit unions exist because our members believe in the cooperative spirit. Ask yourself:

  • Do you use all the services at your credit union?  Or;
  • Is a bank your primary banking partner?

Part of owning a credit union account is understanding we need you too!  Credit unions can’t continue to provide low-cost services if members continue to split their accounts to other financial institutions.

Love your credit union? Keep us healthy and use all our services!
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