We are very excited to announce the successful merger of Member One Federal Credit Union and Virginia Federal Credit Union, effective August 1, 2024.
This merger represents a collaborative opportunity for two financially strong organizations to come together for the benefit of our members, our employees, and our communities.
What happens next? Since the legal merger date of August 1, 2024, we have begun working to integrate our two organizations, with the goal of having our core systems fully integrated sometime in 2026.
For now, how you conduct business with both organizations will remain the same. Once the two credit unions are completely integrated, all branches will operate as one organization, giving you even more branching options across the Commonwealth of Virginia.
Frequently Asked Questions
Beginning August 1st, you may notice our new name designation – Member One, a division of Virginia Credit Union – displayed in many places where you conduct transactions or open accounts with us.
You will not yet be able to access services on your Member One account from Virginia Credit Union locations or Online/Mobile Banking (and vice versa) until we officially unify our operations.
Yes! To enhance accessibility to financial services, starting August 1, 2024, Member One members will have access to fee-free ATMs at select Virginia Credit Union ATM locations free of charge. For a complete list of fee-free ATMs that includes those of Virginia Credit Union, visit our branch and ATM locator online at memberonefcu.com/locations and within our Mobile Banking app.
Your deposits will continue to be federally insured to the maximum amount available (currently up to $250,000 per owner) and backed by the full faith and credit of the United States government. As of the effective date of the merger, August 1, 2024, your accounts at both organizations continue to receive separate federal NCUA coverage for six months. On February 1, 2025, the accounts will be considered by NCUA as “merged” and covered accordingly. If you do have combined balances over $250,000 in accounts at both credit unions, please contact us before February 1, 2025 for help in making sure your balances are covered. Call 800.666.8811 or visit any retail center location. Visit mycreditunion.gov to learn more about how your funds are covered.
Not immediately. If any changes are necessary during the combining of our operational systems in 2026, you will be notified well in advance with all the necessary details and steps to follow.
Your existing Online Banking and Mobile Banking app services will remain the same. As with account numbers and routing numbers, any updates or changes to these services identified during the combining of our operational systems in 2026 will be communicated in advance.
You’ll find the same friendly branch staff at the same locations where you currently bank with us. There will be no changes to branch hours at this time.
Member One and Virginia Credit Union are deeply committed to serving their communities. As such, we have decided that each credit union would maintain its respective center of operations. By maintaining dual centers of operation, we are defining how our partnership will go forward, united in our mission and vision to meet the needs of our members and communities.
Chris Shockley is the President/CEO of the combined organization.
Chris has been VACU’s President & CEO since April of 2016.
Prior to that, Chris served as Executive Vice President at Virginia Credit Union since 2007. A native of Virginia, Shockley started work as a bank teller during college and worked for 14 years in retail banking in Virginia and North Carolina before moving to Virginia Credit Union.
Chris’s commitments within the credit union industry include serving on the Board of PSCU and its Audit and Governance committee, as well as serving on the board with the Credit Union Service Company of Virginia. His extensive community involvements include chairing the Board of the Virginia Council on Economic Education as well as Board service with the YMCA of Greater Richmond and the MS Society of Virginia and West Virginia.
Chris holds a Bachelor of Science in Economics from Radford and an MBA from Liberty.
In 2019 under Chris’s leadership, Virginia Credit Union committed $5 million to fund two endowments at the Virginia Commonwealth University School of Business to promote financial wellness. The gift underscores Virginia Credit Union’s focus on financial health and education for members and the community – something Chris is deeply passionate about personally as well. The credit union’s free workshops and seminars have reached more than 60,000 individuals in 2021 with information on budgeting, saving, borrowing, and managing credit.