Join Beacon

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Beacon Credit Union is a full-service financial institution, offering a wide range of products and services. Having served Lynchburg and the surrounding area for over 70 years, our "vision" is to be the premier provider of quality financial services, a leader in our community and the most progressive financial institution in our field.

Why Beacon?

We hope that a Membership with Beacon Credit Union is not just a phase in your financial life... when you join with us, you are a member for life.

Change jobs? Move away? Your accounts and relationship with us remain intact no matter where life takes you, so that you and your family will always enjoy the benefits of credit union membership.

"Dedicated to Our Member's Financial Success"

This Statement of Commitment to Members is consistent with our credit union principles of "Not For Profit, Not for Charity, But for Service" and our philosophy of "People Helping People", and its central values of equality, equity and mutual self help. These statements represent good business practices that ensure the financial strength of our credit union on behalf of our members.

Beacon's History

Our Beginning

First Paid Emp Madeline Krantz 1952 BeginningsBeacon Credit Union opened its doors on August 23rd, 1939 as the Virginia League Central Credit Union. This first establishment was simply a central depository location where credit unions would be able to deposit excess funds. Prior to the first operating office opening at 815 Church Street in 1952, the League’s offices and services were maintained in the homes of key individuals such as R.G. Council and H.W. Roach, both Treasurers for the League.

 

 

 


The Next 50 Years

Logans Ribbon Cutting 453The next 50 years saw the addition of employees, office managers and bookkeepers, a number of location changes and a variety of product changes, including a Life Savings Insurance coverage increase in 1960 and a focus on credit union driven ATMs in 1982.

In September of 1995, Virginia League Central purchased land at 6320 Logan’s Lane in Lynchburg off of Timberlake Road (currently our main branch office) and construction of a new branch began in 1996. The facility was built by P.W. Campbell and groundbreaking was held June 24th 1996. With the new facility, opened in November of 1997, the League now offered an onsite ATM, drive-thru lanes and adequate parking that had not been available at previous locations.


A New Millennium

The new millennium brought about vast growth and changes for the Virginia League Central. Under the leadership of its new President/CEO Greg McConville the Credit Union began to offer offsite ATMs in various locations, an in-house data processing system and a new name.

Yellow Branch Student Program

With Community Programs always a major priority, Beacon grew as an organization and as a area leader. Yellow Branch Students were allowed to take part in a program that allowed them to visit the Credit Union, interview for job positions, and open their own Credit Union. Other students were allowed to earn "tiger bucks" for various accomplishments and could deposit these funds in their accounts once a week. This connection with the Campbell County Students allowed them to develop a working knowledge of how money is managed and how Credit Unions work.

In 2002 Virginia League Central Credit Union became Beacon Credit Union replacing its red cardinal insignia with today’s current logo.


 Growth in Bedford County

Over the next couple of years Beacon expanded to Bedford County, opening a new full service branch at 19029 Forest Road in the spring of 2005. Marking a big step for Beacon Credit Union, the Forest Road branch was the first branch to open under the Beacon name and offered new opportunities for the credit union to meet the needs of businesses that already existed in the surrounding area.


 

Big Island & Lynchburg Foundry FCU Merger

Four years later, on February 1st 2009 Beacon merged with Big Island 1013 Federal Credit Union, increasing the company assets by 31% and expanding membership to Rockbridge County, the city of Lexington, the City of Buena Vista, the Town of Glasgow and the Town of Natural Bridge. The merger added two new branches to Beacon’s locations… one in Big Island and one in Buena Vista. On August 1st 2009 yet another merger took place with the Lynchburg Foundry Federal Credit Union adding a fifth branch location at 1000 Main Street in Lynchburg Virginia. (With the addition of the Madison Heights branch, this location will become an offices only location).


The Future

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Now Beacon has reached a new horizon in its growing evolution. Expanding to Amherst is another bold step in bringing our financial services and commitment to our members and communities throughout Virginia. As stated by Beacon Credit Union’s Mission statement, we are “Dedicated to our Member's Financial Success,” and are excited for whatever possibilities the future may hold.

Benefits of a Beacon Account

Beyond the great benefits of lower loan rates and higher savings rates, as a Beacon Credit Union member you'll also receive these special benefits:

Free Member Checking   Fee Overdraft Protection***  
Account options available for Free Checks*   Free ATM transactions****  
Free Online Banking   Free Direct Deposit Service  
Refer-A-Friend Rewards   Free Notary Service  
No annual fee Visa Credit Cards**   Free Online Bill Pay Service  
Cashier's Checks   Free Bank by Mail  
No annual fee Home Equity Loans   Seasonal Branch Giveaways  

Joining Beacon Credit Union has never been easier. Open a Beacon savings account with just a $25 deposit - and you are a Beacon Credit Union member for life.

Contact Beacon Credit Union today to apply for membership.



*Free Checking available for Choice Plus Checking only. Choice Checking accounts are subject to credit qualification. $100 minimum opening deposit required for Choice Plus Checking. First box of checks are free with Preferred Checking Accounts.
**Qualification for Visa Credit Cards apply
***Members must qualify for Overdraft Protection by completing an application and meeting the criteria for loan approval.
****$1.50 fee for account inquiries 

Once you join Beacon Credit Union, you can remain a member for life, even if you change jobs or move away. That way, you as well as your family members can continue to enjoy the benefits of credit union membership.

Family Member Accounts:

Your immediate family members are encouraged to join Beacon Credit Union. This includes your parents, sisters, brothers, grandparents, children, or grandchildren by blood or by marriage.

How Do I Join?

To join Beacon Credit Union, you must first open a regular savings account with a deposit of just $25, and you're a member for life and eligible to apply for of all the services offered by Beacon Credit Union. You can send us a e-mail for a  membership application request right now.  We would love for you to come by one of our branch locations to open an account.  This way we can get to know you and take the time to go over all the benefits of membership with you.  If you are unable to stop by, we are happy to mail a new member packet to you. To join, we'll need a copy of your driver's licence and the account card will need to be signed in front of a notary.

Membership Procedures:

Each application for membership must be in writing and those eligible may be admitted to membership by the Board of Directors or a membership officer. A person denied membership by a membership officer may appeal the denial to the Board of Directors.

No application for membership shall be approved until it is determined that the applicant:

  • Is eligible for membership
  • Has paid any required fees or annual membership fee or both
  • Has subscribed for one or more shares (savings account)
  • Has paid the initial installment ($25) for the savings account.

Important information about procedures on opening a new account

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. The USA PATRIOT Act requires all private banking institutions to collect, verify, and record information that positively identifies individuals that open accounts.

To comply with this requirement, please have the following items ready:

  • Drivers License or State ID
  • Date of Birth
  • Social Security Number (SSN) or Tax Identification Number (TIN)
  • Your complete residence and mailing address

You may read more about the USA PATRIOT Act below:

Are you Eligible?

There are three ways to be eligible:

  • You live, work, worship, or attend school in, and businesses and other legal entities located in Amherst County, Appomattox County, Bedford County, Campbell County, Rockbridge County, Pittsylvania County, Caswell County NC, Rockingham County NC, City of Lynchburg, City of Lexington, City of Buena Vista, City of Danville, City of Reidsville NC, City of Eden NC, Town of Altavista, Town of Appomattox, and Town of Bedford. (Region 2000)
  • Current members at the time of the community charter conversion of Credit Unions affiliated with the Virginia Credit Union League, the Virginia Credit Union League; Credit Unions, as corporations affiliated with the Virginia Credit Union League: and existing select employee groups.
  • Spouses of persons who died while within the field of membership of this credit union; employees of this credit union; persons retired or pensioners or annuitants from employment to the credit union; members of their immediate families and organizations of such persons.  Immediate family members are defined as people related by blood, marriage or adoption, and associations of such persons and other credit unions. 
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Top Notch Security

 Learn about Scam Alerts, Internet Security and how we protect your accounts!

Visit our Security page and learn more.