REGULATING AGENCY: Virginia State Corporation Commission; Bureau of Financial Institutions
- Joe Face, Commissioner
- Website: scc.virginia.gov/pages/Bureau-of-Financial-Institutions
LEAGUE: Virginia Credit Union League
- Carrie Hunt, President
- Website: vacul.org
PRIVATE SHARE INSURANCE: No
- Largest SCU: VIRGINIA CU $5.18B in assets
- Largest FCU: NAVY FEDERAL CU $168.41B in assets
|Third Quarter 2023
|% of SCUs/Total
|Total Credit Unions
|Credit Union Members
|Credit Union Assets
The Pentagon building in Arlington is the largest office building in the world. Additionally, the Pentagon has nearly 68,000 miles of internal telephone lines.
The $2.4 billion-asset credit union began exploring the “Get My Rate” solution in 2020 as part of its preexisting partnership with the credit score technology firm SavvyMoney in Dublin, California, which has been providing BayPort with its NCR Credit Score service for members since February 2020.
Using an external portal hosted by SavvyMoney but bearing BayPort branding, both external consumers and internal members are invited to input personal details such as their Social Security number and date of birth for a soft credit check as part of the prequalification process. Findings are then compared to the credit union’s underwriting criteria to give the applicant all eligible credit products and associated rates, both from BayPort and other competing institutions, for review before formally applying.
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