Virginia Credit Union has served the financial needs of the local community for over 30 years and over that time it has gone from strength to strength. While many credit unions across the country have merged into larger entities, VCU has remained independent and self-sustaining and it is this structure that its board believes is the main reason for its continued positive performance.
2021 has been another very successful year for VCU.
“We increased our membership by 296 new members and provided €4.7 million in new loans to the local community. That’s an 18% increase over the previous year,” according to CEO Micheal McDermott.
VCU’s core business is providing a safe and secure place for its members to place their hard-earned savings and providing a wide range of loan products to enable members to borrow for a variety of reasons. However, it’s not that simple as VCU strives to be the best in the market at what it does.
“When you enter VCU or call on the phone, you will always be greeted in a polite, welcoming, warm and professional manner by a member of staff. We strive to ensure that the member experience is one that will be remembered and spoken about positively in the local community and beyond. It is this member experience that translates into new business opportunities for VCU. We believe in going the extra mile for all of our members and whether you’re a kid depositing your small weekly savings, a borrower in need of a big loan, or a borrower in need of a small loan, you’ll be treated to the same way. exceptional manner by all of our staff,” enthused Micheal.
Extensive loan book
VCU currently has over €28 million in assets and the loan portfolio continues to grow year on year, as evidenced by its 18% increase last year.
“We have a wide range of innovative loan products to meet the needs of our members and we are continually striving to introduce new loan products to our range. We have recently launched our VCU – First Loan to our range which offers a competitive/reduced interest rate for new members wishing to borrow or for existing members wishing to borrow for the first time (terms and conditions apply) . Please contact us for more information on our exciting new product and all of our other innovative loan products,” said Micheal.