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| Our History |
A small group of civilian employees and military personnel established Richmond Q.M. Depot Federal Credit Union (now known as Bellwood Federal Credit Union) in August 1951. Their goal was to provide a means through which, civilian employees and military personnel assigned to or stationed at the Defense Supply Center Richmond, could pool their savings, borrow from this common pool and in turn increase their savings by having the interest paid on loans returned to them as dividends.
Since then, Bellwood FCU has grown and now offers many additional services. However, the basic principle of "people helping people" still holds true today. Your credit union is a legal entity organized under federal law, by and for people who already have a common bond.
The members of Bellwood FCU have agreed to save their money in an organization they own and operate to make their collective savings available for low cost loans to all members. Members are encouraged to invest regularly in their credit union.
From this accumulated capital, we make loans to other members for practically any good purpose. After we pay expenses and legal reserves are set aside, we return Bellwood FCU's income to the membership as dividends on their shares (savings).
Bellwood FCU is a corporation owned by and operated for the mutual benefit of all its members. No outside organization has any part in the ownership or direction of the credit union.
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