Coming Soon: Enrich Financial Wellness Interactive Resource
Very soon, an amazing new online financial education program will be available through our website. These are just a few of the many resources that can help you learn and grow in your financial confidence:
- Money personality quiz
- Articles on many financial topics
- Live webinars
- Retirement analyzer
- Budgeting tools & calculators
- Financial games
- Courses on topics including credit scores, debt, insurance, borrowing, and more
We can't wait to share this site with our members. Look out for more information, coming this summer!
Make your home’s equity work for you!
Home Equity Line of Credit 1,2
Currently 4.00% APR4
- NO Origination Fee
- Borrow up to 80% of your home’s value
- Minimum loan amount of $25,000
- Minimum first draw is $10,000
- 15-year payback with 8-year draw period
Home Equity Fixed Rate Loan 1,3
Prime rate +0% APR4 (currently 3.25% APR4)
- NO Closing Costs
- Borrow up to 80% of your home’s value
- Minimum loan amount of $25,000
- Terms up to 15 years
- 2% Origination Fee
Congratulations to our 2020 Scholarship Winners
Fort Lee FCU awarded scholarships to four graduating seniors within our membership. Qualified students submitted applications and were judged anonymously on academic merit, personal achievements, demonstrated leadership experience, extra-curricular involvement and/or work experience. We congratulate each of them on this outstanding achievement.
Ashley Atkinson, $2,500 Scholarship Recipient
A graduate of Thomas Dale High School, Miss Atkinson plans to attend Liberty University and major in Environmental Science and Spanish.
Mallory Davis, $1,000 Scholarship Recipient
Miss Davis graduated from Hopewell High School. She plans to attend Longwood University and major in Elementary Education.
Alexandria Johnson, $1,000 Scholarship Recipient
A graduate of Prince George High School, Miss Johnson plans to attend Virginia Tech and major in Engineering.
Daniel Xue, $1,000 Scholarship Recipient
Mr. Xue graduated from Maggie L. Walker Governor’s School. He plans to attend Massachusetts Institute of Technology (MIT) and major in Civil or Environmental Engineering.
Website in the works!
Message from the CEO: Here to Serve our Members
There’s no doubt that 2020 has been a challenging year thus far.
Our thoughts go out to those closely affected by COVID-19. Our community—like so many others—has felt the effects of the pandemic. Our heartfelt thanks goes out to essential workers who have braved conditions and gone to work to serve our community.
We are extremely proud of our team here at Fort Lee FCU for being here to serve our members. Their dedication and positivity have remained steadfast throughout the crisis. That’s what Fort Lee FCU is about—being here to help our members and community.
We are grateful for your support and understanding as we continue to navigate this situation. Rest assured that we are here for you. Please do not hesitate to reach out to us to discuss your unique financial needs.
Thank you for your membership.
Patsy Stuard, CEO
Save the Date for our Online Annual Meeting
Tuesday, September 15 at 6:00 PMDetails and access information to come.
Standing Together to Support Area Food Banks
Fort Lee FCU was pleased to support the Chesterfield Food Bank by purchasing shirts for our staff. Designed by the Chesterfield Education Foundation, the shirts read “Standing Together, Six Feet Apart.” We’re proud to show support for our community and love wearing our new shirts! Learn more at chesterfieldfoodbank.org.
The credit union made monetary donations to the Prince George Food Bank and Colonial Heights Food Bank as well. With a matching grant from the Armed Forces Financial Network (AFFN), we were able to donate a total of $3,000 to local food banks.
Update to Funds Availability Policy
Effective as of July 1, 2020, the dollar amounts in the Fort Lee Federal Credit Union’s Funds Availability Policy have been adjusted for inflation as required by the Expedited Funds Availability Act. The following thresholds have changed and may affect the funds available to you for certain deposits.
- Generally, the first $225 from a deposit will be made available on the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit. For example, if you deposit $900 on Monday, $225 from the deposit is available on Tuesday. The remaining $675 is available on Wednesday.
- We may delay the availability of your funds for any deposits over $5,525. However, the first $225 will be available on the next business after your deposit. For example, generally, if you deposit a $9,000 check, the first $225 will be available the next business day, $5,300 will be available on the second business day, and the remaining $3,475 will be available on the seventh business day.
- If you have a new account with us or have repeatedly overdrawn your account in the last six months, we may delay the availability of your funds for any deposits over $5,525. For example, generally, if you deposit a $9,000 check, $5,525 will be available on the next business day for deposits of cashier’s, certified, teller’s, traveler’s, and federal, state and local government checks. For other deposited items, the $5,525 will be available the second business day, and the remaining $3,475 will be available on the ninth business day after your deposit.
For more details, view our Funds Availability Policy, or contact us at 804-452-0736.
Independence Day: Saturday, July 4
Labor Day: Monday, September 7
1) Credit qualifications apply. Not all who apply will receive a loan. Membership eligibility required. Membership is open to those who live, work, or worship in the following localities: Amelia, Charles City, Chesterfield, Colonial Heights, Dinwiddie, Goochland, Hanover, Henrico, Hopewell, King and Queen, King William, New Kent, Nottoway, Petersburg, Powhatan, Prince George, Richmond, and Sussex. Fort Lee Federal Credit Union does not lend on mobile homes, co-ops or time-shares, properties that are currently listed on the market for sale, commercial property or property used for commercial purposes, even if a residence is part of the property, undeveloped property (land only), properties with more than multiple units.
2) Interest rates are based on the prime rate + .25% as published in the Money Rates column of the Wall Street Journal on the date of loan application. There is a minimum rate of 4.00% APR, and a maximum rate of 18% APR. Prime Rate was 3.25% as of March 16, 2020. A home equity line of credit (HELOC) is a variable rate loan and the interest rate is subject to change after consummation of the loan. Rate is adjusted quarterly if necessary, on the first day of January, April, July, or October. Closing costs range between $1,800.00 and $3,900.00 for credit lines up to $350,000.00. LOAN EXAMPLE: $25,000.00 financed for 180 months at 4.00% APR would make the monthly payment $186.00. Property insurance (homeowners) is required. Rates, terms, conditions and services are subject to change. Contact a representative for additional details.
3) Offer valid on second mortgages only. Payments do not include taxes and insurance premiums, if applicable. Interest rates are based on the prime rate as published in the Money Rates column of the Wall Street Journal on the date of loan application. Prime Rate was 3.25% as of March 16, 2020. Fort Lee Federal Credit Union will cover most closing costs (appraisal fees covered up to $500.00). Closing costs range between $1,800.00 and $3,900.00 for loans up to $350,000.00. If the loan is closed or paid off within 36 months of opening, the member will incur a reimbursement fee equal to the amount of closing costs originally paid by Fort Lee Federal Credit Union. LOAN EXAMPLE: $50,000.00 financed for 180 months at 3.25% APR would make the monthly payment $353.00. Rates, terms, conditions and services are subject to change. Contact a representative for additional details.