Call Federal Credit Union is a federally insured, not-for-profit financial cooperative headquartered in Richmond

Richmond, Virginia

Richmond is the capital of the Commonwealth of Virginia, in the United States. It is an independent city and not part of any county. Richmond is the center of the Richmond Metropolitan Statistical Area and the Greater Richmond area...

, Virginia

Virginia

The Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...

. It is regulated under the authority of the National Credit Union Administration

National Credit Union Administration

The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...

 (NCUA) of the U.S. federal government. Call Federal Credit Union is the second-largest Richmond-based credit union

Credit union

A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...

. As of September 30, 2011, Call Federal Credit Union had $350 million USD in assets and 31,000 members. In accordance with the Federal Credit Union Act of 1934

Federal Credit Union Act

The Federal Credit Union Act is an Act of Congress enacted in 1934. The purpose of the law was to make credit available and promote thrift through a national system of nonprofit, cooperative credit unions...

, Call Federal Credit Union is a tax-exempt, federally chartered, federally insured, not-for-profit financial cooperative. Call Federal Credit Union accounts are insured up to $250,000 through the NCUA, which is comparable to the insurance provided to accounts at traditional banks via the Federal Deposit Insurance Commission.

History

Call Federal Credit Union was formed in September 1962 by volunteer employees of Philip Morris USA

Philip Morris USA

Philip Morris USA is the United States tobacco division of Altria Group, Inc. Philip Morris USA brands include Marlboro, Virginia Slims, Benson and Hedges, Merit, Parliament, Alpine, Basic, Cambridge, Bucks, Dave's, Chesterfield, Collector's Choice, Commander, English Ovals, Lark, L&M, Players and...

 in Richmond, Virgina. The credit union's name was derived from the company’s iconic bellhop Little Johnny

Johnny Roventini

Johnny Roventini was an American dwarf actor of Italian-American heritage....

, who was known for the slogan "Call for Philip Morris." In the beginning, all transactions were completed by credit union volunteers.

In 1964, Alice S. Pearce, wife of founding board member William Pearce, became the credit union's first paid employee. The credit union originally operated out of donated space from Philip Morris USA. In 1979, Philip Morris USA purchased a United Virginia Bank branch on Commerce Road in Richmond, Va. In 1984, the credit union brought an ATM to the Commerce Road branch. In 1994, Call Federal Credit Union opened a branch in Mechanicsville, Virginia

Mechanicsville, Virginia

Mechanicsville is the name of four places in the Commonwealth of Virginia in the United States of America:*Mechanicsville, Hanover County, Virginia*Mechanicsville, Loudoun County, Virginia*Mechanicsville, Rockbridge County, Virginia...

 in Hanover County

Hanover County, Virginia

As of the census of 2000, there were 86,320 people, 31,121 households, and 24,461 families residing in the county. The population density was 183 people per square mile . There were 32,196 housing units at an average density of 68 per square mile...

; that was replaced in 2010. A branch in Chesterfield County, Virginia

Chesterfield County, Virginia

Chesterfield County is a county located in the Commonwealth of Virginia, a state of the United States. In 2010, its population was estimated to be 316,236. Chesterfield County is now the fourth-largest municipality in Virginia . Its county seat is Chesterfield...

, was opened in 1996. That branch closed and in 2003, Call Federal Credit Union opened what is loosely referred to as a “credit union mall”: three separate credit unions operating independently in the same building. An unprecedented concept at the time that demonstrated the innovative, cooperative nature of credit unions. A branch in Henrico County, Virginia

Henrico County, Virginia

Henrico is a county located in the Commonwealth of Virginia, a state of the United States. As of 2010, Henrico was home to 306,935 people. It is located in the Richmond-Petersburg region and is a portion of the Richmond Metropolitan Statistical Area...

, was opened in September 2008.

Call Federal Credit Union also operates a branch in Concord, N.C., which serves former Philip Morris USA employees. Philip Morris USA closed its Concord, N.C., manufacturing plant in July 2009. Another branch operated in Louisville, Kentucky

Louisville, Kentucky

Louisville is the largest city in the U.S. state of Kentucky, and the county seat of Jefferson County. Since 2003, the city's borders have been coterminous with those of the county because of a city-county merger. The city's population at the 2010 census was 741,096...

, until 2005.

Membership

Membership to Call Federal Credit Union was originally limited to Philip Morris USA employees and their family members. Membership was opened up to select employee groups in the mid-1990s, and was extended to underserved areas of the city of Richmond in July 2006. Call Federal Credit Union received a community charter on July 7, 2010, that now allows it to serve anyone living and/or working in the city of Richmond as well as the counties of Henrico, Chesterfield and Hanover. A $5 share savings account entitles members to one vote at the annual meeting in February.

Services

Checking, savings

Savings 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...

, money market, CDs

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....

, IRA savings

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...

, auto loans, personal loans, education loans, mortgage loan

Mortgage loan

A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...

s, home equity loan

Home equity loan

A home equity loan is a type of loan in which the borrower uses the equity in their home as collateral. These loans are useful to finance major expenses such as home repairs, medical bills or college education...

s, credit card

Credit card

A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...

s, nationwide ATM network alliance, free online banking

Online banking

Online banking allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.-Features:...

, free mobile banking access

Mobile Banking

Mobile banking is a term used for performing balance checks, account transactions, payments, credit applications and other banking transactions through a mobile device such as a mobile phone or Personal Digital Assistant . The earliest mobile banking services were offered over SMS...

, debit card

Debit card

A debit card is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution...

s and direct deposit

Direct deposit

Direct deposit also known as Direct credit is a banking term used to refer to certain payment systems used to transfer money where a payment is initiated by the payer not the payee, namely:* In Europe, the giro system...

. In 2008, Call Federal Credit Union began offering youth savings accounts for persons younger than 18. The first $1,000 deposited into these accounts earns an above-market rate of interest.

Board members

Board members serve three-year terms. They are elected at the annual meeting; there are no term limits.

Board of Directors: William F. Pearce, Chairman of the Board; Larry D. Woodson, Vice Chairman of the Board; William D. Thomson, Vice Chairman of the Board; James C. Horne, Jr., Treasurer; Mary L. Sanderford, Secretary; Alice D. Owens, Director; William E. Poorbaugh, Director; Nancy L. Stephens, Director; Lonnie L. Tolley, Director.

Associate Board Members: Julian L. White

Supervisory Committee: Anita C. Dunn, Chairperson; Connie Branch; Willie M. Jefferson; Dolly Snead; Harrison Bonner III

Credit Committee: William Tobe Powell, Chairman; Carroll Branch; Louise Flournoy; Michael Slaughter

Mergers

Exxon Credit Union in Richmond, Va., which had roughly $100,000 in assets and 100 members, merged with Call Federal Credit Union in 2003. In July 2008, Media General's credit union, Media First in Richmond, Va., which had about 1,000 members and $3.2 million in assets, merged with Call Federal Credit Union.

Community involvement

Call Federal Credit Union offers 10 $1,000 scholarships to high school seniors annually in June through its Alice S. Pearce Scholarship fund. The fund is named after Alice S. Pearce, who was the credit union's first paid employee; in the early days of the credit union she processed many of the transactions from her dining room table. Pearce retired in 1991 as the president/CEO.

Call Federal Credit Union and its employees volunteer with the YMCA's Bright Beginnings program, which helps children from low-income families obtain school supplies; Habitat for Humanity

Habitat for Humanity International

Habitat For Humanity International , generally referred to as Habitat for Humanity or simply Habitat, is an international, non-governmental, non-profit organization devoted to building "simple, decent, and affordable" housing, a self-described "Christian housing ministry." The international...

; and Virginia Blood Services. Employees are also encouraged to get involved in community organizations such as the Central Virginia Food Bank, Children's Miracle Network and the Make-a-Wish Foundation. Credit union staff also gives financial literacy talks to members, business groups and schools.

Awards/recognition

2010 Credit Union National Association (CUNA) Marketing and Business Development Council Awards:
Diamond Award (1st Place), Direct Mail, VISA Campaign. Diamond Award (1st Place), Membership Packers, Brochures and Booklets. Empower Checking: The Switch Kit on Steroids. Merit Award, Where Principles Matter TV Commercials.

2009, Local Emmy for TV Commercial on NBC 12

2009, Interior Design Excellence Award by ASID/IIDA Virginia

2008, Kelley Parks, CUNA (Credit Union National Association) Marketer of the Year

2008, National Academy of Arts & Sciences Regional Emmy Award for I Luv Richmond television commercial

2008, Credit Union Direct Lending (CUDL) Best Practices in Marketing to Members

2008, Best Practices in Credit Union Branding