Credit Union News Releases
News and notes from and about Virginia's credit unions!
- Freedom First Lends $162 Million in Economically Distressed Areas in 2023 Direct Community Giving Exceeds $525,000
May 16, 2024Freedom First Credit Union invites you to review our newly released 2023 Community Impact Report. This report provides details of the targeted investment, economic development, financial education, and community outreach we accomplished in 2023.
- BayPort Foundation Charity Golf Classic Raises Over $165,000
May 16, 2024The BayPort Foundation is excited to announce that it has raised over $165,000 at its third annual Charity Golf Classic event, hosted on May 9, 2024. Fifty-two businesses sponsored the tournament, including the 84 golfers who played the award-winning golf course at the James River Country Club in Newport News.
- Virginia Credit Union Awards $150,000 in College Scholarships
May 16, 2024Virginia Credit Union has awarded $150,000 in college scholarships to 30 student members through the Virginia Credit Union Scholarship Program. Each winner will receive $5,000. Established in 1991, the program has provided more than $1.65 million in scholarships to student members. Virginia Credit Union established the scholarship program to help members working toward their first undergraduate degree. The program honors Dot Hall and Jane Watkins, former presidents of Virginia Credit Union.
- Chartway Credit Union Wins 2024 Top Workplaces Culture Excellence Award
April 25, 2024Chartway Credit Union has received the 2024 Top Workplaces Culture Excellence award for Innovation, Work-life Flexibility, Compensation & Benefits, Leadership, Purpose & Values. The Top Workplaces program by Energage—an organization that develops solutions to build and brand Top Workplaces—has a 17-year history of surveying and celebrating people-first organizations nationally and across 60 regional markets.
- CFPB Takes Action to Stop Illegal Junk Fees in Mortgage Servicing
April 25, 2024Homeowners were forced to pay for "services" that were prohibited or unauthorized. The Consumer Financial Protection Bureau (CFPB) published an edition of Supervisory Highlights describing the agency’s actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. In response to the CFPB's findings, financial institutions refunded junk fees to borrowers and stopped their illegal practices.
- Credit Unions Help Title 1 Students Turn $100 into $1,000,000 with Biz Kid$
April 25, 2024Emmy award-winning show on PBS launches 2nd edition of best-selling book. Credit unions nationwide are providing up to $50,000 in $100 grants at Title 1 schools to put the lessons in the 2nd edition of How to Turn $100 into $1,000,000 into practice. In addition, PSCU/Co-op Solutions stepped up to provide the grant for the books given to students at the schools in these underprivileged areas.
- Veteran Innovator John Ainsworth Joins Board of CU Healthcare PayCard
April 25, 2024Moving at the speed of innovation, CU Healthcare PayCard Principal Paul Clampitt announced today that John Ainsworth, president/CEO of Bonifii – a CUSO focused on delivering innovative applications on a global distributed ledger platform for credit unions – has joined CU Healthcare PayCard’s board. CU Healthcare PayCard is a CUSO focused on bringing together payment and healthcare ecosystems.
- Richmond-Based Credit Union Wins Second Consecutive Gallup Exceptional Workplace Award
April 11, 2024Virginia Credit Union has earned a second consecutive Gallup Exceptional Workplace Award. This year’s GEWAs recognize the world’s 60 best workplace cultures based on rigorous measurement of their employee engagement, leadership, and performance.
- Law Enforcement & Technology Federal Credit Union and Justice Federal Credit Union Announce their Intent to Merge
April 10, 2024Justice Federal Credit Union, (Justice Federal) and Law Enforcement and Technology Federal Credit Union (LE&T FCU) are excited to announce their intent to merge contingent upon member vote. Once approved, Justice Federal would serve more than 68,000 members, with twenty branches across the nation, and over $1B in assets.
- ValleyStar RISE Foundation Hosts Annual "Big Tee Off" Golf Tournament in Support of Children's Miracle Network
April 10, 2024The ValleyStar RISE Foundation is thrilled to announce the return of its annual golf tournament, the "Big Tee Off," in support of the Children's Miracle Network. The event is scheduled to take place on Thursday, May 9, 2024, at the prestigious Chatmoss Country Club in Martinsville, Virginia. In case of inclement weather, a rain date has been scheduled for Thursday, May 16, 2024.