Began offering Checking Accounts and IRAs

Installed first ATM

Initiated Visa Credit Card Program

Launched Audio Response/Telephone Banking System

Richmond Memorial Hospital CU merges with VaCap

Save CU merges with VaCap

Hanover Branch opens

Branchway Office opens

Visa Debit Card Program introduced

Website launched at vacapfcu.org

Member Information/Call Center initiated

PC Financial Services offered

Overdraft Privilege Program born

VaCap FCU changes name to New Generations FCU

 ABOUT NEW GENERATIONS

We are a federally-chartered, federally-insured financial cooperative headquartered in the beautiful state capital of Virginia, Richmond. Hard by the historic James River, New Generations traces its roots to 1950 as the credit union founded to serve employees of the City of Richmond, a group we continue to serve to this day. Since the early days, we've added employees of over 700 employers around the area.

We currently operate six offices: two in Richmond and one each in the adjoining counties of Chesterfield and Hanover. New Generations is a full-service financial institution offering a comprehensive array of consumer financial services.

Our Mission
New Generations Federal Credit Union is dedicated to being the full service primary financial institution of its member-owners. We are committed to providing our membership with a high level of competitive products and professional services while maintaining integrity and safeguarding the assets of member-owners.

 OUR HISTORY

The credit union was originally organized on August 23, 1950 as the Richmond, Virginia Municipal Federal Credit Union to provide financial services to employees of the City of Richmond. The National Credit Union Administration approved the charter the following month, and the first membership meeting was held on September 14, 1950.

During its history, the credit union has operated in a variety of locations beginning with the basement of the old City Hall on West Franklin Street. In 1982, after having had a total of six homes, the credit union relocated to the 16th Floor of the City Hall Building to an office that remains operational.

In 1984, the first branch was opened in the Schools Building near the home of the Atlanta Braves Triple-A farm team at The Diamond. In the spring of 1989, the credit union opened a new location at 1700 Robin Hood Road, which became the head office. At the same time, the name was changed to VaCap to reflect the fact that membership eligibility had been expanded to include employees of entities other than the City.

In March 1991, the Richmond Memorial Hospital Credit Union was merged into VaCap, bring with it 2,000 employees of that facility. Less than a year later in February 1992, the credit union for the local Kraft Foods plant also became a part of VaCap. Since that time, in excess of 700 employee groups have become part of New Generations' field of membership, and the base has become extremely diverse to include not only municipal workers, but those in the medical, manufacturing, and professional fields, as well.

New Generations currently has over 18,000 members, almost $60 million in total assets, and operates branches in Hanover and Chesterfield counties in addition to the two City offices.