Have Questions About Membership?
We’re here to make joining and banking with your credit union simple. Explore our frequently asked questions to learn more about membership eligibility, how to join, account options, and what you can expect as a member. If you don’t find the answer you’re looking for, our team is always happy to help.
What is a Credit Union?
A credit union is a not-for-profit financial institution owned by its members. Instead of focusing on profits, we focus on helping members save money, access affordable loans, and build financial stability.
How is a Credit Union different from a Bank?
The biggest difference is ownership. Banks are owned by shareholders, while credit unions are owned by members. That usually means lower fees, better rates, and more personalized service. As a credit union we are here for YOU!
Are Credit Unions safe to use?
Yes. Here at CVFCU we are federally insured by the National Credit Union Administration (NCUA), which means your money is protected up to $250,000.
Who is eligible to join the Central Virginia Federal Credit Union?
Our membership is open to anyone who, lives, work, worships, or attends school in Region 2000. Region 2000 includes Amherst, Appomattox, Bedford, Campbell counties, and the City of Lynchburg.
What are your branch hours and ATM locations
All five of our branches are open from 9:00 a.m. to 5:00 p.m., Monday through Friday. Our Timberlake branch also offers convenient Saturday hours from 9:00 a.m. to 2:00 p.m. We also have several ATM locations throughout the area for convenient access to your accounts. Visit our Branch and ATM Locator to find a location near you.
How does Central Virginia Federal Credit Union support community events?
We are passionate about helping our neighbors and serving our local community. We are proud to sponsor and participate in a variety of events throughout our community. You’ll see us in parades, at CenterFest, supporting events for the Lynchburg Humane Society, and more! Over the years, we have raised more than $250,000 for our local Children’s Miracle Network. We are committed to supporting your community because it is our community, too!
I am already a member of another credit union; can I join this one?
Yes! You can be a member of CVFCU even if you already belong to another credit union. As long as you meet our membership eligibility requirements, you can join CVFCU and take advantage of our products and services. You can apply to become a member online or visit one of out branches for assistance.
Does CVFCU have a membership fee?
Yes! Our membership fee is $5.00. That par share will be given back to you if you close your account at any time.
Why do you need my information and documents
Federal law requires us to verify the identity of each person who opens an account. That's why we ask for information that will allow us to identify you, as well as your drivers license and other identity documents.
Can my family members join too?
Absolutely! Because you are a member, they can be a member also.
