What is our History?

Our history humbly begins in 1960.  In a closet in the print shop at Princess Anne High School. We are grateful to those who first served to bring low cost accounts and services to the teachers in Virginia Beach. Due to their thrift, we have grown ever since, becoming the premier credit union for all Virginia Beach City Public Schools.

In 1986 we added the employees of Accomack and Northampton County Schools on the Eastern Shore and shortly thereafter added the employees and students of Virginia Wesleyan College.

In addition we serve employees of the Adult Learning Center located in Virginia Beach and St. John the Apostle Catholic School, the Art Institute of Virginia Beach. We now serve over 7,000 members.

What is VBSFCU?

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

Unlike some financial institutions, our volunteer Board of Directors are member-owners who work in the best interest of other fellow 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 higher 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 becoming the financial partner that helps members (owners) realize their financial goals by our singular dedication to understanding and satisfying their individual needs. This can only be accomplished by establishing and maintaining a relationship of mutual respect and trust with all of our members.

This relationship is built on adhering to the Credit Union’s core values;

I will…

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

What Is A Credit Union?

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

Members at a credit union are member-owners because their deposit represents a share of ownership; however at a bank, the owners are typically small groups of investors. Credit union members are united by a common bond of membership. Through cooperative efforts, members typically 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, the only people who benefit from profits are the investors.

Credit unions worldwide offer members from all walks of life much more than financial services.  We provide members the chance to own their own financial institution and help them 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 cast a 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.  Do you use all the services at your credit union?  Or do you use a bank for your checking and loans?  Part of having an account at a credit union is understanding we need you too!  Credit unions can’t continue to provide low cost services if members continue to segment their accounts to other financial institutions.  If you love your credit union – help keep us healthy and able to offer low cost/low fees by using all our services!
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