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Frequently Asked Questions



About Credit Unions

Q. What is a credit union?

A credit union is a not-for-profit financial organization that is owned by its members and controlled by its Board of Directors, not shareholders. The credit union’s Board of Directors are not paid, but rather, serve on a voluntary basis and work as a team with the membership to run the credit union. Federal credit unions are regulated by the NCUA (National Credit Union Administration), which is the government organization equivalent to the FDIC for banks.

Q. How can a financial institution be "not-for-profit"?

Credit unions reinvest any profit into the credit union by paying dividends to the members, reducing the cost of services and introducing new products. "For-profit" institutions retain all profits received.

Why choose a credit union over a bank?

Credit unions are popularly recognized for their excellent service, lower loan rates and low/no cost on many of the traditional products and services offered by for–profit financial institutions. Credit unions are member-owned. Each member has voting rights and receives dividends from CU profits paid on a regular basis. Credit unions invest time and interest in building the communities where they are based since many are established by local businesses and interest groups.

Q. Are my funds insured at a credit union?

All funds deposited at federal credit unions are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government through the NCUA (National Credit Union Administration), an agency of the Federal Government.

General Membership

Q. Who can join Hopewell Chemical FCU?

If you work for an employer who has joined Hopewell Chemical FCU as a Select Employer Group (SEG) or if you are the family or household member of an existing member, you may apply for membership at the credit union. Please visit the How To Become A Member page on this website for more information.

Q. How do I join the credit union?

Apply in person at 702 ELM Street, Hopewell, Virginia 23860 and a Member Service Representative will be happy to assist you. To open an account you must bring:

Products and Services

Q. What kind of products and services does a credit union offer?

Hopewell Chemical FCU offers a wide variety of savings and loan products to our members. From youth accounts to checking products; vacation and holiday accounts, Certificates of Deposit (CD), and loans of all types. Additionally, we offer members discounts on theme park tickets, loan promotions with Enterprise Car Sales, TruStage Insurance products and more. For a more extensive list, please visit the Services page of our website.

Q. How soon after opening my account may I apply for a loan?

There is no waiting period required. As soon as the $5 initial deposit is received, the member may apply for a loan.

Q. What must I do to apply for a loan?

You may apply online through this website or you can call/or stop in and ask to speak with a loan officer.

Q. I am retiring. Do I have to close out my credit union account since I am leaving my place of employment?

Retiring from your job or changing your employer doesn’t have to mean the end of your financial relationship with Hopewell Chemical FCU. As long as you maintain an active account, you may remain a member of the credit union. However, if you choose to close the account, you may not be able to open a new one at a later date if you do not fall in our field of membership.

Managing Accounts and Balances

Q. How can I find out about my account balances?

Managing your accounts can be done online by enrolling in Home Banking from the Home page of our website. You will need to enroll online and set up your own personal security features. If you prefer the telephone, you can also phone ART at (800)259-0761. These are the quickest and most convenient forms of checking your balances.

Q. Does Hopewell Chemical FCU have an app?

Hopewell Chemical FCU does have a dedicated app for the credit union. Please download our app, HCFCU(our app will have an atom as the Icon), in the Google Play or Apple Store, which allows members to access the Home Banking service. We also offer Card Valet, the app that allows you to manage and maintain your VISA Debit Card.

Q. Does Hopewell Chemical FCU keep a list of my passwords or PINs in case I lose them?

No. For the privacy and security of our members, we do not keep such records. We strongly encourage our members to keep their passwords and security question answers confidential and in a secure location.

Q. I forgot my password and locked myself out of my account. What can I do?

During business hours you may call 804-452-2480 and speak to a Member Service Representative or stop by our office. We will be glad to restore the settings so that you can reset the password.

Q. What is an Dormant fee and how do I avoid being charged?

Dormant fees are charged on accounts that have not had any activity recorded on it within 12 months. Members can avoid fees by making a simple transaction on their accounts no less than once per year.

Q. Does Hopewell Chemical FCU have a list of any and all fees that I could incur on my accounts?

Yes, this is referred to as a Fee Schedule. All applicants receive one when they become new members. You may ask for a recent copy on your next visit or view it online.

Card Services

Q. Where can I check my VISA credit card balance and available credit?

You may use our toll free 24 hour number 800-808-7230. You may also sign up for, the free site to review VISA transactions.

Q. How would I report my credit card as lost or stolen?

Call the credit union at 804-452-2480 during business hours or 800-991-4964 after business hours. Please follow up with Lauren or Heather to verify a replacement card has been issued.

Q. How would I report my ATM or debit card as lost or stolen?

Report a lost or stolen card as soon as you notice it is missing! If you have Card Valet, use the app to disable the card immediately. If you do not have Card Valet, call the credit union at 804-452-2480 during business hours or 800-472-3272 after business hours to disable the card number. Disabling your card immediately will allow us to better protect your account. Please follow up with Lauren or Heather to have a replacement card issued and to review your account.

Q. Should I contact the credit union when I will be traveling?

Yes. Give us a quick call at 804-452-2480 so we may note your account and let you know if we have a fraud block in the area you will be traveling, which would prevent you from using your ATM or debit card.

THIRD PARTY SITE DISCLAIMER - By accessing the noted link you will be leaving the Hopewell Chemical Federal Credit Union website and entering a website hosted by another party. Hopewell Chemical Federal Credit Union has not approved this as a reliable partner site. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of the Hopewell Chemical Federal Credit Union website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Hopewell Chemical Federal Credit Union. CLICK CONTINUE TO CONTINUE OR CANCEL TO ABORT.

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