RICHMOND, Va.--(BUSINESS WIRE)--Founded by City of Richmond employees in 1950, New Generations Federal Credit Union has a new name: RVA Financial. The change in name reflects the cooperative financial institution’s focus on financial empowerment in Richmond and the surrounding counties within the metropolitan area that it serves.
“This is a return to our roots,” stated Richard Preble, President and CEO of RVA Financial. “We began by serving City of Richmond employees and while our footprint has grown since then, we are still a very RVA-centric organization. It’s all about service and financially empowering the Richmond community that we love so dearly. We are still a credit union, with even more clarity in our mission.”
RVA Financial empowers many individuals who are often overlooked by other financial institutions. It helps members of the community save money, buy cars, and buy homes – even in cases where it seems impossible.
“The greatest feeling in the world is to help someone who thought it was never possible to buy a home actually purchase a home for their family,” said Mr. Preble. “We take a unique approach to community empowerment and we are so excited about this next chapter right here in RVA.”
RVA Financial was founded in 1950 by City of Richmond employees who wanted to put the power of a non-profit financial cooperative to work for them. Today, the credit union serves over 13,000 members in the Richmond metropolitan area, with membership open to anyone who lives, works, worships, or attends school in the city of Richmond and the counties of Chesterfield, Goochland, Hanover, and Henrico.