Member One Federal Credit Union

What Member One Federal Credit Union does

Member One Federal Credit Union is a federally chartered, member-owned credit union headquartered in Roanoke, Virginia. Operating as a non-profit financial cooperative with 251-500 employees, the institution delivers consumer and small business banking, lending, and credit card products. Following a completed merger with Virginia Credit Union (VACU), the combined entity operates under the VACU brand with 39 branches across Virginia, positioning it as one of the larger community-based credit unions in the state.

Name

Member One Federal Credit Union

Legal name

Virginia Credit Union

Website

https://memberonefcu.com

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

251–500 employees

Short description

Member One Federal Credit Union, now operating as Virginia Credit Union (VACU), is a member-owned credit union serving Virginia consumers and small businesses with checking, savings, lending, and credit card products across 39 branches.

Ownership category

akta.pro rank

Product category

Retail Banking / Credit Union Services

NAICS

Credit Unions (52213), Depository Credit Intermediation (5221)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Consumer lending products
• Credit union membership
• Mortgage and home loans
• Small business banking

Headquarters

HQ city

Roanoke

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: Primary revenue from interest charged on loans including auto loans, personal loans, home loans/mortgages, home equity loans, credit cards, and business loans. Rates vary by product with auto loans starting at 4.24% APR and personal loans ranging from 6.99% to 28.00% APR depending on amount and term.
2. Deposit Taking and Interest Spread: Revenue generated from difference between interest paid on deposits (savings, certificates, IRAs) and interest earned on loans. Savings certificates offer up to 3.75% APY.
3. Credit Card Transaction Fees: Interchange fees from credit card transactions processed through Mastercard network. Zero annual fees, cash advance fees, or foreign transaction fees on most cards.
4. Fee-Based Services: Various banking fees including loan origination, account maintenance, ATM usage, and insurance services. Emphasizes low fees as member benefit.
5. Insurance Services: Commission revenue from insurance products including car protection, loan payment protection, credit card payment protection through VACU Insurance Services and Virginia Statewide Title Services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Member One Federal Credit Union (now merged with Virginia Credit Union, doing business as VACU) is a member-owned financial cooperative offering personal and business banking, deposit products (checking, savings, certificates, IRAs), consumer and commercial lending (auto, personal, home equity, mortgage, RV/boat/motorcycle, business loans), Mastercard credit cards, treasury management services, insurance, and digital banking channels across 39 Virginia branches.

Product overview

Virginia Credit Union operates as a financial cooperative offering a comprehensive suite of banking and lending products organized into personal banking (checking, savings, credit cards), loan products (auto, personal, home equity, mortgage, recreational vehicles), business banking (accounts, loans, treasury management, online banking), digital banking (online and mobile platforms), and supplementary services (insurance, financial education). The credit union maintains 39 branches across Virginia and returns earnings to members through competitive rates and lower fees. A merger with Member One Federal Credit Union is in progress.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts Personal checking account options including Regular Checking, Extra Credit Checking, Checking Plus, Enhanced Benefit Checking, and Encore Checking with low fees and digital banking access for individual members.
• Savings Accounts and Certificates Savings products including Regular Savings, Money Market Savings, Savings Certificates (up to 3.75% APY), IRAs, Health Savings Accounts, and Kids Savings Accounts for individual members.
• Mastercard Credit Cards Mastercard credit card portfolio including Flex Rewards Mastercard, Cash Rewards Mastercard, Essential Mastercard, and VCU Black & Gold Mastercard with zero annual, cash advance, or foreign transaction fees.
• Auto Loans Auto financing for new vehicle purchases and refinances with rates starting at 4.24% APR, available directly and through preferred dealer network.
• Personal Loans Unsecured personal loans with rates from 6.99% APR standard (loan amounts above $2,000) and Express Personal Loans at 28.00% APR for $100-$2,000; terms from 1 to 60 months.
• Home Loans and Mortgages Comprehensive mortgage services including home purchase (rates as low as 5.92% APR), refinance, first-time homebuyer programs, construction loans, and various mortgage options.
• Home Equity Loans Home equity lending products allowing members to borrow against their home's equity.
• RV, Boat, and Motorcycle Loans Recreational vehicle financing for RVs, boats, and motorcycles.
• Business Accounts Business banking deposit accounts for businesses of various sizes.
• Business Loans Commercial lending products including term loans and lines of credit for small business needs.
• Treasury Management Services Cash management and treasury services for business members including payment processing and cash flow solutions.
• Insurance Services Insurance and protection products including car protection, loan payment protection, credit card payment protection through VACU Insurance Services and Virginia Statewide Title Services.
• Investing Services Investment services offered to members through the credit union.
• Online and Mobile Banking Web-based digital banking platform and VACU Mobile App (iOS and Android) enabling members to manage accounts, transfer funds, pay bills, and access account services online.

Quantifiable outcome

• Auto loan rates as low as 4.24% APR
• +4 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Virginia Association of First RespondersminorStrategic or Co-development PartnerVACU donated $20,000 to support statewide training for volunteer rescue squad members and firefighters. The organization represents over 22,000 first responders across Virginia. This represents community investment rather than commercial partnership.
• Joyner Fine PropertiesminorGTM or Marketing PartnerReferral partnership for home loan services. Real estate company refers home buying customers to VACU for mortgage financing.
• Preferred Dealer NetworkcoreChannel Partner/ Reseller/ DistributorNetwork of automobile dealerships that originate auto loans through VACU for their customers. Dealerships process loans for customers purchasing or refinancing vehicles.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• BayPort Credit Union: Virginia-based credit union offering checking, savings, credit cards, mortgages, and business banking. Comparable given shared Virginia member market, similar mid-size branch footprint, and NCUA cooperative framework.
• Langley Federal Credit Union: Virginia-based federal credit union serving similar Tidewater/Hampton Roads and broader Virginia consumer base with personal banking, mortgage, and credit card offerings. Highly comparable given shared state footprint and NCUA-regulated cooperative structure.
• Truliant Federal Credit Union: Mid-Atlantic federal credit union with branch network, member-owned cooperative model, and full personal/business banking plus credit cards. Direct peer given similar structure, NCUA chartering, and product suite centered on consumer lending and deposits.

Broad incumbents

• TowneBank: Virginia and North Carolina regional bank providing consumer and commercial banking products similar to those of the subject credit union. Comparable in regional focus and full-service banking model but operates as a publicly-traded bank holding company.
• Atlantic Union Bank: Virginia-headquartered regional bank offering comparable personal banking, mortgage, and commercial lending products across the Commonwealth. Closely comparable given shared Virginia geography, full-service banking, and similar customer base including small businesses and consumers.
• PenFed (Pentagon Federal Credit Union): Large federally chartered credit union offering virtually identical consumer and business products including auto loans, mortgages, credit cards. Comparable in product breadth and member-owned model, but at substantially greater national scale.

Others

• Discover Financial Services: Major credit card issuer with comparable Rebate Rewards-style cash back products and Mastercard network participation. Relevant as a competitor on the credit card product line specifically, though not a direct competitor on deposits or mortgage lending.

Regional players

• Carter Bank & Trust: Virginia-based regional community bank providing personal and business banking products with parallel consumer checking, savings, lending, and treasury management offerings. Comparable geographic focus and customer base; relevant for assessing Virginia banking competitive landscape.
• Farmers & Merchants Bank: Virginia regional community bank offering personal and commercial banking products overlapping heavily with the credit union's suite, including loans, deposits, and credit cards. Comparable in geographic focus but operates as a state-chartered bank rather than cooperative.

Emerging players

• SoFi: Digital-first financial services firm offering high-yield savings, personal loans, and credit cards competing for the same consumer financial product wallet share as the credit union. Comparable on product line and target member, though serving a nationwide, digitally-native member base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/VACreditUnion
• Facebookfacebook.com/MemberOneFCU
• LinkedInlinkedin.com/company/virginia-credit-union
• Instagraminstagram.com/virginiacreditunion
• Xx.com/memberone_fcu

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Member One Federal Credit Union