Belvoir Federal’s History
Belvoir Federal Credit Union was organized in 1946 by employees of the Engineering Center on Fort Belvoir, Virginia. Since that time, we have expanded to serve the entire Fort Belvoir community and several Select Employee Groups. In nearly 70 years, we have grown into a full-service financial institution with over $320 million in assets and over 26,000 members worldwide.
We pride ourselves on providing our members with the products and services they want and the financial security they need. As a federally insured credit union, each of our members’ deposits are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF). The strongest of all federal deposit insurance funds, the NCUSIF currently holds approximately five times more in reserve for every $100 on deposit than the Bank Insurance Fund.
Belvoir Federal’s Board of Directors
Supervisory Committee Members
|Judith Searles-Miller, Chair|
Belvoir Federal’s Principles
Our Mission Statement
To provide the foundation for the financial success of our Members.
We surpass the individual needs and expectations of our global community.
Our Core Values
Trust, Integrity, Respect, and Commitment
Did you know that Belvoir Federal is a cooperative?
Wikipedia defines a cooperative as a “business organization owned and operated by a group of individuals for their mutual benefit… Credit unions are cooperative financial institutions that are owned and controlled by their members. Credit unions provide the same financial services as banks but are considered not-for-profit organizations and adhere to cooperative principles.” Cooperatives are based on the cooperative values of “self-help, self-responsibility, democracy and equality, equity and solidarity.”
How does Belvoir Federal demonstrate the seven cooperative principles?
1. Voluntary and Open Membership: Belvoir Federal Credit Union is a voluntary, cooperative organization, offering financial services to people in our field of membership willing to accept the responsibilities and benefits of membership, without gender, social, racial, political or religious discrimination.
2. Democratic Member Control: Belvoir Federal Credit Union is a democratic organization, owned and controlled by its members, with each member receiving one vote. The credit union is governed by a volunteer board of directors who are elected by members.
3. Member Economic Participation: Members recognize benefits in proportion to their usage of the cooperative. Belvoir Federal Credit Union offers loyalty loan discounts, ATM rebates, and a number of other free options to those members who use more products and services.
4. Autonomy and Independence: Belvoir Federal Credit Union is an autonomous organization controlled by its members. When the credit union enters into agreements with other organizations, it does so based on terms that ensure democratic control by the member and maintains the cooperative autonomy.
5. Education, Training and Information: Credit unions place particular importance on providing financial education opportunities for their members and the public. Belvoir Federal Credit Union currently provides a quarterly newsletter, as well as online articles and financial calculators to help members make wise financial decisions. Belvoir Federal Credit Union also employs a Financial Coach who uses tools to assist members in managing their budget and finances.
6. Cooperation among Cooperatives: Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, state, regional, national and international structures. Belvoir Federal Credit Union is able to offer a wide range of services by using programs like the Credit Union Service Centers, the Credit Union Mortgage Association (CUMA), CU Realty, COMPASS 4 CUs, and the Credit Union Auto Loan Network (CUALN).
7. Concern for Community: An important part of being a member of the community is supporting charities that are involved within our field of membership. Belvoir Federal Credit Union generously supports organizations such as the USO, Fisher House, CAUSE, NGA CFC, NGA CWC and many others. Belvoir Federal Credit Union also supports local events, on-installation activities and chamber of commerce organizations through sponsorships and partnerships.
Learn About Credit Unions
What is the difference between a Credit Union and a Bank?
|* Not-for-profit institutions
* Serves those in field of membership
* Members with share ownership
* Members elect a volunteer Board of Directors
* Controlled by members (democratically)
* Member service-driven
* Return profits to members
* Federally insured by the NCUA
|* Profit-oriented institutions
* Serves anyone
* Customers have no ownership
* Bank Owners pay a Board of Directors
* Customers do not have voting privileges
* Controlled by stockholders and paid officials
* Return profits to stockholders
* Federally insured by the FDIC
What’s a Credit Union?
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.
Who owns a credit union?
Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn’t operate in that manner. Rather, each credit union member owns one “share” of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.
How did credit unions start?
The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary’s Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member.
What is the purpose of a credit union?
The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.
Are savings deposits insured?
Yes. All savings accounts are insured to at least $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government. Use NCUA’s share insurance calculator to estimate how your funds are insured.
Who can join a credit union?
A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a “field of membership.” The field of membership may include where they live, where they work, or their membership in a social or economic group.
Work for Belvoir Federal Credit Union
Belvoir Federal Credit Union offers competitive salaries, incentives, and a benefit package. All positions require the right mix of skills and attributes: Proven sales skills, outgoing & enthusiastic attitude, and the ability to handle multiple tasks. Teller positions also require excellent communication skills, the ability to provide high-level member service, retail sales, and cash-handling experience. Some positions may include Saturday hours and a 40 hour work week.
Named One of the Best Places to Work in Virginia
Belvoir Federal Credit Union was named one of 2014 and 2015’s Best Places to Work in Virginia. The annual list of the Best Places to Work in Virginia was created by Virginia Business and Best Companies Group. The esteemed awards program is a statewide survey designed to identify, recognize, and honor the best places of employment in Virginia.
“Being named one of the best places to work in Virginia is truly an honor. We appreciate Virginia Business recognizing Belvoir Federal’s ability to create an outstanding work environment for our employees,” stated Patricia Kimmel, CEO of Belvoir Federal Credit Union. “Our employees are the ones who make a difference at our credit union and we strive to have the very best working environment, which makes serving our members with remarkable service a way of life at Belvoir Federal.”
Current Positions Available
There are currently no positions available. Please check back soon.
Belvoir Federal Benefits
Belvoir Federal offers a competitive compensation/incentive/benefits package including: 401(k) pension plan, generous leave accrual, great working environment, and the opportunity for career advancement.
Apply For A Position
For consideration, please complete the application through the designated link.
Belvoir Federal is an Equal Opportunity Employer (EOE) – Females/Minorities/Protected Veterans/Individuals with Disabilities. For more information about EOE or FMLA, please click on the below images.