This credit union dates back to 1952 when pastors, especially Methodist pastors, had a hard time getting by. Itinerant pastors earned low wages, many times never owned a home, and moved every few years, so credit was hard to come by. And it was for that reason that a group of pastors led by Rev. Dr. H. Bernard Lipscomb Jr. of Charlottesville founded the Virginia Methodist Conference Credit Union in March of that year. The credit union thrived – having met the financial needs of pastors all over the state. A few years later, it was decided that the credit union might also serve the churches themselves, and accordingly, we offered them loans and other financial services.
In later years, our field of membership was expanded to include Methodist organizations, colleges, and agencies. And more importantly, we began to help the laity of the church, with a faith-based approach to finances not found elsewhere. In 2016, we expanded into contiguous states, offering our services to the same constituencies in North Carolina and West Virginia, and to churches and organizations in Maryland and the District of Columbia. We even changed our name to The United Methodist Credit Union to encompass our broader reach that included more than just the state of Virginia.
Today, we serve members all over the United States and in several foreign countries (particularly missionaries), and we hope to continue serving our members in the spirit of John Wesley, who taught us to “Earn more, and save more, so we can give more” (Sermon 50).