The Apple Federal Credit Union was launched in 1956 when a group of school employees from the Fairfax County Public Schools got together to help a co worker buy a set of tires for his car. These 10 employees started the rich history of Apple Federal Credit Union which now has about eighty nine thousand members. Every one of its members owns an equal ownership share in the credit union and their deposits are insured by the National Credit Union Administration (NCUA).
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Their board of directors is lead by Virgil Harris as chair person and Leland Smith as Vice Chairperson. Rodney Clemmons acts as the board’s treasurer, William Mason as secretary and Larry Kelly is the President and Chief Executive Officer. Joyce Bell, Larry Byers, Thomas Gerber, Mike Engley, Calanthia Tucker and Linda Whitfield round out the board of directors. The Apple Federal Credit Union also has a supervisory committee led by Larry Byers and an advisory board led by Tony Johnson.
The Apple Federal Credit Union established an Education Foundation which awarded three hundred fifty thousand dollars of scholarships and grants to students, educators and organizations in the Northern Virginia region. The foundation also supports the yearly Virginia teacher of the year award in which a teacher from each region is awarded a crystal apple worth five thousand dollars and a commemorative ring.
In 2009 The Apple Federal Credit Union gave out eight hundred forty one million, eight hundred forty four thousand four hundred eighty seven dollars in loans. They currently have a loan to share ratio of eighty five percent according to their annual report.
The Apple Federal Credit Union also regularly gives back to its community. They have partnered with the Blue Ridge Area Food Bank Network as a drop off location providing people below the poverty level with two hundred ten pounds of food which made one hundred seventy seven meals. They also helped raise money for the Children’s Miracle Network with the Credit Union Cherry Blossom Ten Mile Run. They also provided Stafford County Public Schools Employee of the Year with the free use of a car for a year long. Apple Federal Credit Union also provided backpacks for school children in need that were stuffed with school supplies.
In 2009 the Apple Federal Credit Union had a total of one billion two hundred thirty eight million seven hundred twenty four thousand one hundred seventy dollars in assets. In 2009 the Apple Federal Credit Union’s Net Income was six million two hundred seventy three thousand three hundred one dollars.
The Apple Federal Credit Union is dedicating a new headquarters building in honor of Virgil B Harris who has served more than half a century on its board of directors. The dedication is to take place February Twenty Seventh 2011 at 1:30 PM at its new headquarters at 4029 Ridge Top Road in Fairfax, VA. The sixty thousand square foot building is ten years old and serves as Apple Federal Credit Unions headquarters housing their executive team, core operations staff, Apple Financial Services and even a full service bank with a twenty four hour automatic teller machine for night time banking.
Apple Federal Credit Union is the ninth largest credit union in the state of Virginia and boasts being the one hundred twelfth largest credit union in the nation. The credit Union has two hundred thirty employees and gives its estimated one hundred fourteen thousand members a savings rate that is five times higher than the national average for a credit union. The credit union has a five star health rating.