Virginia

REGULATING AGENCY: Virginia State Corporation Commission; Bureau of Financial Institutions

Virginia State Capitol

ACCREDITED: 2002

LEAGUE: Virginia Credit Union League

PRIVATE SHARE INSURANCE: No

STATS: (As of June 2021)

Total Number of Credit Unions: 110

  • TOTAL # SCUs: 23
  • TOTAL # FCUs: 87
  • SCU % OF TOTAL (SCUS #/STATE TOTAL #): 21%

Total Assets: $219,057,855,952

  • TOTAL $ SCU ASSETS: $12,208,697,275
  • TOTAL $ FCU ASSETS: $206,849,158,677
  • SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 6%

Total Members: 15,861,791

  • TOTAL Members SCUs: 828,837
  • TOTAL Members FCUs: 15,032,954
  • SCU % OF TOTAL (SCUS/STATE TOAL): 5%

FUN FACT: Union Passenger Railway was the first successful electric street railway transit agency. It was formed in 1888 at Richmond.


RECENT NEWS

House Committee to Begin Markup of NDAA
Authored By: Lewis Wood

August 31, 2021 — Both the House and Senate are in recess this week, but several committees in both chambers have scheduled hearings. The House Armed Services Committee will begin its markup of the National Defense Authorization Act (NDAA) for fiscal year 2022 Wednesday at 10 a.m.

Your League and other industry partners have pushed lawmakers to reject any proposed language that would require DoD to treat for-profit banks the same as credit unions when it comes to leases and lease costs for on-base branches. Last month, your League wrote Sen. Tim Kaine expressing our concerns and making the senator aware of the joint letter forwarded by the Credit Union National Association, the Defense Credit Union Council and the National Association of Federally Insured Credit Unions.

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