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. 

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What is a Payday Loan Alternative?

Our payday loan alternative is different than a traditional payday loan. We give you the opportunity to stretch out the repayment to a manageable monthly payment over several months, helping you escape the damaging cycle of needing to rollover your loan again and paying high fees to do so.

Payday loans can be very appealing to those in a desperate situation, but they’re rarely the solution to anyone’s financial woes. There’s always an alternative to payday loans. But to determine which is the best for you, ask yourself three questions:

We also have several credit building programs designed to help you. Please visit our Credit Builder page for more information.

To apply for this loan, please contact one of our loan officers for more information or apply online.


What can you expect from our Payday Loan Alternative?


What is a Payday Loan?

A payday loan is a short-term loan, often for $1,000 or less, and it’s typically due within two weeks to a month. Basically, payday loans are designed to float borrowers that are in between paychecks but need cash fast.

Payday loans are so attractive because so little is required in order to receive one. As long as you can provide an address, proof of employment, and maybe some references, you’ll be able to take out a loan.

Whether you have good or bad credit, payday loans charge a flat rate of anywhere from $15 to $30 per $100 borrowed. Even the best payday loans average around 400% APR per loan. Of course, you’re thinking that if you pay off the loan within two to four weeks, you’re only paying 15% to 30% per loan.

That’s true– if you pay the loan off and never darken their doorstep again, or not for months. The problem is, many people end up paying off the loan off within, say, two weeks — and then, because they’re broke all over again, take out another loan to help them get by.


Do you offer adult financial education?

Yes, we offer information on our website, and also partner with a local program called Bank On Hampton Roads. Bank On is a free adult financial education program.