For 60 years, Virginia Beach Schools Federal Credit Union has served members and brought value by offering convenience and access to financial products and services. We have been proud to help members achieve their financial goals.
On behalf of the Board of Directors and Leadership Team, I am excited to announce our plans to merge with Langley Federal Credit Union. Merging with Langley will allow us to continue acting in the best interest of our members by providing more access, more value, and more rewards to members and the community.
This merger represents a partnership between two credit unions that share values, plus a real commitment to our members and the communities we serve. As the financial services landscape continues to evolve, merging with Langley allows us to immediately enhance what we can offer members. This includes access to more branch locations, more products and services at competitive rates, and enhanced technology offerings that will provide greater 24/7 convenience.
We are excited to share we have received approval from our regulators. What happens next? Virginia Beach Schools FCU members will be sent the official Notice of Meeting and ballot on August 31, 2021, and will have the opportunity to vote until the day of the special meeting which is scheduled for October 19, 2021.
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 University.
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.
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.
Our mission is built on the foundation of our core values;
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:
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:
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!