Henrico Federal Credit Union

What Henrico Federal Credit Union does

Henrico Federal Credit Union is a federally chartered, member-owned not-for-profit credit union established in 1967 and headquartered at 9401 West Broad Street in Henrico County, Virginia. It provides retail consumer banking products and services - including checking, savings, share certificates, auto loans, home loans, home equity, personal loans, Visa credit cards, and a short-term Quick Cash product - to individuals who live, work, worship, or attend school in the Richmond Metropolitan Statistical Area, a 17-county, 4-city region. The institution operates nine branch locations (including a March 2026 relocated Short Pump branch in Gateway Square) and a digital banking platform available via iOS, Android, and web, plus access to the Co-Op Shared Branching network for shared branching and ATMs nationwide.

Its business model is the standard credit-union cooperative model: member-owned, NCUA-insured, with earnings returned to members through lower loan rates (auto loans from 4.24% APR, home equity from 6.24% APR), higher deposit yields (certificates up to 3.80% APY, youth certificates at 6.00% APY), and reduced fees (waivable monthly service fees of $2 to $8). Non-deposit revenue is generated via partner referral and joint-marketing arrangements with Price Perkins (a 14-time Five-Star Wealth Manager) for investment services, TruStage (part of CUNA Mutual) for AD&D, life, auto and home insurance, and Aflac for supplemental insurance. Value-added services include financial education workshops (Financial Fitness, homeownership, teen money, fraud prevention), loan and savings calculators, the HarmonyLoan rate-modifiable mortgage, Save to Win prize-linked savings, and annual scholarships.

The underlying technology stack is conventional rather than differentiated: a hosted loan-origination platform (henricofcu.symapp.jhahosted.com), a digital banking platform across iOS and Android, and IDCheck for cross-state shared-branching identity verification. Distribution centers on physical branches supplemented by the digital channel and community/educational events. The firm employs 51-100 staff, has no subsidiaries, no parent company, no external equity backing, and operates as a private cooperative under the Federal Credit Union Act with Chris Williams serving as President.

Name

Henrico Federal Credit Union

Legal name

Henrico Federal Credit Union

Website

https://henricofcu.org

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

51–100 employees

Short description

Henrico Federal Credit Union is a federally chartered, member-owned not-for-profit credit union serving individuals in Virginia's Richmond Metropolitan Statistical Area with deposit accounts, consumer loans, mortgages, and partner-sourced investment and insurance services across nine branches and a digital banking platform.

Ownership category

akta.pro rank

Product category

Credit Union Retail Banking

NAICS

Credit Unions (52213)

SIC

Commercial Banks, Nec (6029)

akta.pro primary industry

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

Keywords

• Retail banking services
• Consumer lending
• Credit union services
• Savings accounts
• Mortgage lending

Headquarters

HQ city

Richmond

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Pricing tiers

Distribution channels3 records

Marketing channels5 records

Core offering

Henrico Federal Credit Union is a federally chartered, member-owned, not-for-profit credit union providing retail banking products, savings vehicles, consumer and mortgage lending, and partner-provided investment and insurance services to individuals and families primarily in the Richmond Metropolitan Statistical Area. The institution operates nine branch locations across its field of membership, supporting deposits, loans, credit cards, and digital banking access for individual members.

Product overview

Henrico Federal Credit Union offers a comprehensive suite of financial products and services through a single integrated platform. Core offerings include multiple checking and savings account types (Basic Checking, Select Checking, Invest Checking, Share Savings, Share Certificates, Save to Win, Youth Accounts), auto loans starting at 4.24% APR, home loans including the HarmonyLoan adjustable-rate mortgage, home equity loans/LOC, personal loans, Visa credit cards, and Quick Cash. The Digital Banking platform provides online and mobile banking with mobile deposits, Bill Pay, and Voice Banking. The credit union also provides value-added services through partnerships: Investment Services via Price Perkins LLC (Five-Star Wealth Manager for 14 years) and Insurance Services via TruStage and Aflac. Financial education, scholarships, and calculators complement the product portfolio. The 4419 Greybull Drive branch in Gateway Square serves as a primary location in Henrico County, Virginia.

Differentiator

Problem solved

Functional benefit

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Partnerships

Four partnerships are on record, tiered core and minor.

• TruStage InsurancecoreChannel Partner/ Reseller/ DistributorTruStage Insurance provides insurance products including accidental death and dismemberment (AD&D) insurance, auto insurance, life insurance, and homeowners/renters insurance to credit union members at special rates. Part of CUNA Mutual Group with over 80 years of service history.
• AflacminorChannel Partner/ Reseller/ DistributorAflac provides supplemental insurance policies, paying cash benefits directly to policyholders to help with unexpected expenses. Local contact: Alex Brown, SPC.
• CUNA Mutual Group (MEMBERCONNECT)minorGTM or Marketing PartnerJoint marketing partner included in the credit union's privacy policy disclosure. CUNA Mutual Group's MEMBERCONNECT platform supports joint marketing activities.
• CO-OP Shared BranchingcoreTechnology or IntegrationCO-OP Shared Branching network provides identity verification through IDCheck application for Shared Branching users. Enables members to conduct transactions at shared branches nationwide.

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Pentagon Federal Credit Union (PenFed): One of the largest U.S. credit unions, offering the full retail banking stack (deposits, mortgage, auto, credit cards, wealth, insurance) at national scale. Operates as a broad incumbent benchmark for pricing, product breadth, and digital capabilities versus a community player like HFCU.

Direct peers

• Langley Federal Credit Union: Federally chartered community credit union based in Hampton Roads, Virginia, with a broadly similar product mix (deposits, consumer and mortgage lending, credit cards) and member-owned structure, making it directly comparable in business model.
• Call Federal Credit Union: Virginia-based community credit union with a comparable member-owned, community-focused model offering deposits, consumer loans, mortgages, and digital banking. Operates in a similar regional Virginia footprint.
• Virginia Credit Union: Large community-charter credit union headquartered in Richmond, Virginia, serving a similar geographic and member base with comparable deposit, lending, and digital products. Direct in-market competitor for retail and small-business relationships in the Richmond MSA.
• Member One Federal Credit Union: Virginia-headquartered federally chartered credit union providing similar retail banking and consumer lending products. Comparable in size, structure, and product mix to HFCU.
• Chartway Federal Credit Union: Virginia-headquartered community credit union offering a similar full-service retail product set (checking, savings, mortgages, auto, credit cards) across the Mid-Atlantic. Comparable member-owned model and product breadth make it a close peer.
• BayPort Credit Union: Virginia-based community credit union offering consumer deposits, mortgage, and consumer lending. Similar field-of-membership, mutual structure, and product scope position it as a directly comparable Virginia retail credit union peer.

Emerging players

• PartnerSouth Credit Union: Small community credit union operating in Virginia with a mutual structure and basic deposit/lending products. Comparable in scale and operating model to HFCU, though not directly head-to-head in the Richmond MSA.
• Virginia Educators Credit Union: Virginia-based community credit union focused on educators and their families, with a deposit-and-lending product set similar to HFCU's. Overlaps the Richmond MSA and competes for similar consumer relationships in adjacent segments.

Regional players

• Truliant Federal Credit Union: Mid-sized regional credit union based in the Carolinas with a similar full-service retail model (deposits, consumer lending, mortgages, wealth). Not in the Richmond MSA, but a useful comparator for growth trajectory and digital strategy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/HenricoFCU
• YouTubeyoutube.com/channel/UC0_PNpS4adz-lrthFGgIKTw
• Facebookfacebook.com/HenricoFederalCreditUnion
• Instagraminstagram.com/henricofcu

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

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 Henrico Federal Credit Union