Bellwood Credit Union

What Bellwood Credit Union does

Bellwood Credit Union, operating under the legal name Henrico Federal Credit Union, is a federally chartered, member-owned credit union founded in 1967 and headquartered at 7101 Route 1 in North Chesterfield, Virginia. It serves individuals who live, work, worship, or attend school in the Richmond Metropolitan Statistical Area — a field of membership spanning 17 counties and 4 cities — through 9 branch locations, a digital banking platform available on iOS and Android, the CO-OP Shared Branching network for nationwide access, and the CUDL dealer channel for auto-loan origination. The institution markets itself on a community-focused, member-owned cooperative model with local financial education, scholarships, and reinvestment messaging.

The credit union operates a full retail banking product set: Basic, Select, and Invest checking accounts with monthly maintenance fees of $2–$8 (waivable with relationship pricing), tiered share savings from 0.25% to 2.75% APY, share certificates with APYs up to 3.80%, youth accounts, and a Save to Win prize-linked savings product. Lending products include new and used auto loans (4.24%–6.99% APR with terms up to 96 months), auto refinancing, home equity loans and HELOCs (5.24%–7.49% APR), the HarmonyLoan adjustable-rate mortgage, personal loans up to 60 months, Quick Cash short-term loans, and Visa Platinum and Visa Platinum Rewards credit cards (introductory 1.90% APR). Non-deposit products — investments, retirement planning, estate planning, college planning, and insurance (AD&D, life, auto, home/renters, supplemental) — are delivered through partnerships with Price Perkins, LLC and TruStage, while brokerage and advisory services are carried through Wells Fargo Clearing Services under the Prospera Financial Services relationship.

Revenue mechanics rely on interest income from the loan portfolio (auto, home equity, mortgage, personal, credit cards) and fee income from deposit accounts, overdraft/NSF, wires, and ATM transactions, with rates passed back to members through the cooperative structure. The technology stack is a conventional digital-banking front end (online and mobile) with interactive loan and savings calculators, an Auto Buying Assistant for vehicle pricing research, and the IDCheck identity verification system integrated with verify.coop.org for shared-branching security. Customer acquisition is community-led, emphasizing financial education workshops, blog content, social media on Facebook/Twitter/YouTube/Instagram, grand-opening events, and quarterly newsletters; the small-business segment is served through business accounts and competitive business-loan rates within the Greater Richmond area.

Name

Bellwood Credit Union

Legal name

Henrico Federal Credit Union

Website

https://blwd.org

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

11–50 employees

Short description

Bellwood Credit Union is a federally chartered, member-owned credit union serving individuals and small businesses in the Richmond Metropolitan Statistical Area through 9 branches, digital and mobile banking, and a full suite of deposit, loan, credit card, and insurance products.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

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
• Credit union services
• Mortgage lending
• Deposit accounts

Headquarters

HQ city

Chesterfield

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Credit unions generate revenue primarily through interest earned on loans including auto loans, home equity loans, mortgages, personal loans, and credit cards. Interest rates are passed back to members in the form of lower loan rates and higher savings rates.
2. Fee Income: Various service fees including checking account fees, overdraft/NSF fees, wire transfer fees, ATM fees, and other transaction-based fees as outlined in the fee schedule.
3. Checking Account Fees: Monthly maintenance fees for Basic Checking ($2/month), Select Checking ($8/month), and Invest Checking ($8/month), with waiver options for relationship pricing.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Bellwood Credit Union is a member-owned, federally chartered credit union offering deposit accounts (checking, savings, share certificates), consumer loans (auto, home equity, personal, quick cash, mortgages, credit cards), and digital banking services to individuals and small businesses in the Richmond Metropolitan Statistical Area of Virginia. The credit union operates 9 branch locations and provides a digital banking platform for remote account management, bill payment, and loan applications.

Product overview

Bellwood Credit Union operates as a single-brand, full-service financial institution offering a comprehensive suite of banking and lending products through its website and mobile platform. The core product is Digital Banking, which serves as the gateway to checking, savings, and certificate accounts. Loan products include auto loans (with buying assistant and refinance options), home equity products (loans, lines of credit, and refinance), personal loans, and Quick Cash. Credit card offerings include Visa Platinum Rewards and Visa Platinum variants. Supplementary services include TruStage insurance products, Price Perkins investment services, financial education programs, and educational scholarships. The credit union also provides interactive loan and savings calculators as planning tools.

Differentiator

Problem solved

Functional benefit

Brands

• Digital Banking: Mobile and online banking platform for members
• The HarmonyLoan
• Home Equity Loans
• VISA Platinum Rewards
• VISA Platinum
• Save to Win
• Youth Accounts

Products and services

• Checking Accounts Share draft accounts including Basic Checking, Select Checking, and Invest Checking with varying monthly fee structures and dividend rates, with fee waivers available through relationship pricing.
• Savings Accounts Share savings accounts with tiered dividend rates based on balance levels, including Club Accounts and IRA options.
• Save to Win Savings Account Prize-linked savings account that offers members chances to win cash prizes based on deposit activity.
• Share Certificates Certificate accounts with terms ranging from 6 to 36 months offering competitive APY rates up to 3.80%, with a $1,000 minimum to earn dividends.
• Youth Accounts Savings accounts designed for minors with age-appropriate features and lower minimum requirements.
• Auto Loans Financing for new and used vehicles including cars, SUVs, trucks, boats, motorcycles, RVs, and aircraft with competitive rates starting at 4.24% APR and terms up to 96 months.
• Auto Refinance Loans Refinancing options for existing auto loans to potentially lower monthly payments or save on interest.
• Home Equity Loan Fixed-rate loan allowing borrowing up to 80% of home value with terms up to 30 years for renovations, education, debt consolidation, and other purposes, from 5.24% APR.
• Home Equity Line of Credit Variable-rate revolving credit line secured by home equity with a 5-year draw period and 15-year repayment period.
• Home Refinance Mortgage refinance options to potentially lower interest rates, reduce monthly payments, or access home equity.
• HarmonyLoan Adjustable-rate mortgage product allowing members to modify their mortgage rate with a simple click for greater financial flexibility.
• Personal Loans Unsecured loans with terms up to 60 months for various personal needs at competitive rates.
• Quick Cash Short-term borrowing solution for immediate cash needs.
• Visa Platinum Rewards Credit Card Rewards credit card earning points redeemable for cash back, travel, gift cards, merchandise, or charitable donations with no annual fee and low introductory rate.
• Visa Platinum Credit Card Standard credit card with lower rate option without a rewards program for members preferring simplicity.
• Digital Banking Online and mobile banking platform for iOS and Android enabling members to access accounts, transfer funds, pay bills, apply for loans, and manage finances remotely.

Quantifiable outcome

• Auto loan rates typically 1-2% lower than traditional banks
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• TruStagecoreStrategic or Co-development PartnerTruStage Insurance Agency, LLC provides insurance products including Accidental Death and Dismemberment (AD&D), life insurance, auto insurance, and homeowners/renters insurance to credit union members. TruStage has over 80 years of heritage serving credit union members with over 17 million members enrolled.
• Price Perkins, LLCcoreStrategic or Co-development PartnerFull-service wealth management firm providing comprehensive financial planning solutions including retirement planning, asset management, estate planning, financial planning & analysis, college planning, and insurance services. Named Five-Star Wealth Manager for fourteen consecutive years.
• CUNA Mutual Group's MEMBERCONNECTminorGTM or Marketing PartnerJoint marketing partner included in the joint marketing partners list for CUNA Mutual Group's MEMBERCONNECT program.
• AflacminorStrategic or Co-development PartnerSupplemental insurance provider offering cash benefit policies to help members with unexpected expenses when sick or hurt. Agent contact: Alex Brown, SPC, Cell: 804.243.0808.
• CO-OP Shared Branching (verify.coop.org)coreTechnology or IntegrationIDCheck identity verification service for Shared Branching users, allowing out-of-state members to verify identity via verify.coop.org before branch visits.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Bank of America: National bank with extensive Richmond MSA retail footprint across deposits, credit cards, mortgages, and consumer lending. Sets competitive benchmarks Bellwood must offset via member-owned rate advantages.
• Truist Financial Corporation: Major U.S. bank holding company with a substantial Richmond MSA retail branch and ATM network. Competes for the same consumer deposits, auto loans, mortgages, and credit cards that Bellwood serves.
• Wells Fargo: National bank with significant Richmond-area retail presence offering checking, savings, credit cards, auto loans, and mortgages. Represents the broad-incumbent competition against which Bellwood's 1-2% rate advantage is positioned.
• Atlantic Union Bank: Virginia-headquartered commercial bank with extensive Richmond-area branch presence offering consumer and commercial banking, mortgages, and wealth services. Overlaps Bellwood's deposit and lending products but as part of a broader commercial-banking portfolio.

Emerging players

• Alliant Credit Union: Digital-first credit union serving a nationwide membership with online checking, savings, credit cards, and auto loans. Represents the emerging digital-native competitive threat to branch-based community credit unions like Bellwood.

Direct peers

• Virginia Credit Union: Virginia-based member-owned credit union offering a similar full suite of consumer banking, lending, and digital services across multiple branches. Directly comparable cooperative model serving Virginia consumers.
• Langley Federal Credit Union: Federally chartered Virginia credit union with comparable consumer-focused checking, savings, auto loan, mortgage, and credit card offerings. Similar regulatory regime and product breadth serving Virginia members.
• DuPont Community Credit Union: Regional community credit union with consumer deposit and lending products (auto, mortgage, credit cards) and multi-branch service model. Comparable in scale and member-owned structure to Bellwood.
• Chartway Federal Credit Union: Virginia-headquartered community credit union with a multi-branch footprint and similar consumer lending, deposit, and digital banking product mix. Comparable cooperative structure and Richmond/Virginia market overlap.

Others

• Pentagon Federal Credit Union: Large federally chartered credit union offering consumer deposits, auto loans, mortgages, and credit cards across a broad membership base. Thematically related as a larger credit union peer, but with broader eligibility than Bellwood's community charter.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bellwoodcu
• YouTubeyoutube.com/channel/UC0_PNpS4adz-lrthFGgIKTw
• Facebookfacebook.com/BellwoodCreditUnion
• Instagraminstagram.com/bellwoodcu
• LinkedInlinkedin.com/company/bellwood-federal-credit-union

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 Bellwood Credit Union