News & Announcements

Charter Change - Membership Vote

A called meeting of the membership of Baylands Federal Credit Union was held on August 16, 2017 in the lobby of the West Point Branch located at 2004 Main Street, West Point, Virginia at 5:00pm.  The purpose of the meeting was to review and vote on the proposed request to convert Baylands FCU to a credit union chartered under the laws of the Commonwealth of Virginia and that its operation under Federal charter be discontinued.

On the date of the meeting of members, there were 4,796 members of this credit union qualified to vote; 25 members were present at said meeting; of those members present, 24 voted in favor of the conversion and 1 member voted against the conversion; of those members not present at the meeting but who filed ballots, 313 members voted in favor of the conversion and 60 members voted against the conversion; and that, without duplication of the votes of any member, a total of 337 members voted in favor of the conversion and 61 members voted against the conversion.

These results have been attested and verified by John S. Heslink, Board of Directors Chairperson, and Carolyn B. Lockley, Board of Directors Secretary.  The results have been forwarded to the National Credit Union Association as well as the Virginia State Corporation Commission Bureau of Financial Institutions for their review and certification.

Member’s accounts will continue to be insured by the National Credit Union Share Insurance Fund.

Thank you to all members for your questions, consideration and efforts.  They are truly appreciated!  The Board and Management believe this is a positive move for our credit union’s future, and look forward to a strong tomorrow.

Should you have any questions or concerns, please feel free to contact the credit union at 804-843-2520 or toll-free at 888-843-2520.

Sincerely,
Christopher R. Burgess, President/CEO