Belvoir Federal Credit Union
Encyclopedia
Belvoir Federal Credit Union or Belvoir Federal was organized in 1946 by employees of the Engineering Center on Fort Belvoir
, Virginia. Since that time, Belvoir Federal has expanded to serve the entire Fort Belvoir community and several Select Employee Groups. Over 60 years Belvoir Federal has grown into a full-service financial institution with over $260 million in assets and over 28,000 members worldwide. Belvoir Federal Credit Union is a Federal credit union headquartered in Woodbridge, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA). See Fort Belvoir, VA
for more about the military installation.
Membership in Belvoir Federal is limited to:
All active duty or retired members of the U.S. Armed Forces regardless of military branch or duty station. All employees working on or assigned to Fort Belvoir, both government and non-government employees. Anyone living, working, going to school or using any services on Fort Belvoir, VA. Anyone living, working, worshipping, going to school or regularly conducting business in select areas of Southeastern Fairfax County,VA or Northeastern Prince William County,VA.
s, checking accounts, Individual Retirement Account
s, and certificates
. The savings product is named "Share Savings" to reflect the fact that a member's initial savings deposit ($5) literally represents their share of ownership in the credit union. Belvoir Federal also offers members consumer loans, credit cards, mortgages and home equity lines of credit. Belvoir Federal owns a Credit Union Service Organization
, Belvoir Financial Services, that offers more extensive investment services and insurance.
, as well as with some large banks including Bank Of America
and USAA
.
Chief Financial Officer: Michael Ligon
Chief Operations Officer: Patricia Wallace
Chief Administrative Officer: Gaye DeCesare
Chief Marketing Officer: Jason Lindstrom
Fort Belvoir
Fort Belvoir is a United States Army installation and a census-designated place in Fairfax County, Virginia, United States. Originally, it was the site of the Belvoir plantation. Today, Fort Belvoir is home to a number of important United States military organizations...
, Virginia. Since that time, Belvoir Federal has expanded to serve the entire Fort Belvoir community and several Select Employee Groups. Over 60 years Belvoir Federal has grown into a full-service financial institution with over $260 million in assets and over 28,000 members worldwide. Belvoir Federal Credit Union is a Federal credit union headquartered in Woodbridge, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA). See Fort Belvoir, VA
Fort Belvoir
Fort Belvoir is a United States Army installation and a census-designated place in Fairfax County, Virginia, United States. Originally, it was the site of the Belvoir plantation. Today, Fort Belvoir is home to a number of important United States military organizations...
for more about the military installation.
Membership
Belvoir Federal's field of membership is set by the National Credit Union Administration (NCUA).Membership in Belvoir Federal is limited to:
All active duty or retired members of the U.S. Armed Forces regardless of military branch or duty station. All employees working on or assigned to Fort Belvoir, both government and non-government employees. Anyone living, working, going to school or using any services on Fort Belvoir, VA. Anyone living, working, worshipping, going to school or regularly conducting business in select areas of Southeastern Fairfax County,VA or Northeastern Prince William County,VA.
Services
The range of account services offered by Belvoir Federal is similar to that offered by most US retail banking institutions, including savings accountSavings account
Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return...
s, checking accounts, Individual Retirement Account
Individual Retirement Account
An individual retirement arrangement is the blanket term for a form of retirement plan that provides tax advantages for retirement savings in the United States...
s, and certificates
Certificate of deposit
A certificate of Deposit is a time deposit, a financial product commonly offered to consumers in the United States by banks, thrift institutions, and credit unions....
. The savings product is named "Share Savings" to reflect the fact that a member's initial savings deposit ($5) literally represents their share of ownership in the credit union. Belvoir Federal also offers members consumer loans, credit cards, mortgages and home equity lines of credit. Belvoir Federal owns a Credit Union Service Organization
Credit Union Service Organization
In United States federal law, a Credit Union Service Organization allows a credit union the ability to conduct business that they would otherwise be restricted from due to regulatory constraints. Most CUSOs are limited liability companies which also provide a measure of protection to the credit...
, Belvoir Financial Services, that offers more extensive investment services and insurance.
Competition
Belvoir Federal competes with other credit unions, like Navy Federal Credit UnionNavy Federal Credit Union
Navy Federal Credit Union is a credit union headquartered in Vienna, Virginia, chartered and regulated under the authority of the National Credit Union Administration of the U.S. federal government. Navy Federal is the largest natural member credit union in the world, both in asset size and in...
, as well as with some large banks including Bank Of America
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
and USAA
USAA
United Services Automobile Association is a Fortune 500 financial services company offering banking, investing, and insurance to people and families that serve, or served, in the United States military. In 2011, there were 8.4 million members. The company reported a net worth of $19.3 billion in...
.
Key people
President/CEO: Patricia S. KimmelChief Financial Officer: Michael Ligon
Chief Operations Officer: Patricia Wallace
Chief Administrative Officer: Gaye DeCesare
Chief Marketing Officer: Jason Lindstrom