RICHMOND, Va.– Credit Union of Richmond (CUofR), the longest continuously running CU in the state, has been approved by the state regulator to expand its charter and membership eligibility beyond the city of Richmond.
The $73-million CUofR is now a community-chartered credit union and has been approved to serve the Richmond, Va. Metropolitan Statistical Area, including those who live, work, worship or attend school in the counties of Amelia, Charles City, Chesterfield, Dinwiddie, Goochland, Hanover, Henrico, King William, King and Queen, New Kent, Powhatan, Prince George, and Sussex, along with the other four cities of Richmond, Petersburg, Hopewell, and Colonial Heights.
“We are very excited to have the opportunity to grow the credit union and expand our financial products and service offerings to the Richmond, Va., Metropolitan Statistical Area,” said President and CEO Shirley Cooper. “This expansion removes membership barriers and provides opportunity for future growth and sustainability as we are now able to serve more localities. We are financially strong and will continue our prudent financial responsibility as we grow to serve this expanded market.”
Evaluation Underway
To support the expansion, CUofR said it is now evaluating convenient and effective ways to serve members throughout the communities.
Credit Union of Richmond is Virginia’s longest continuously running credit union. Originally founded by Postal Workers in 1923 under the name Richmond Postal Credit Union, membership was opened to the city of Richmond in 2008 to help serve the underserved.
The credit union has approximately 5,600 members.