PortAlliance Federal Credit Union was chartered October 28, 1958 as NORVA Naval Supply Center Federal Credit Union, initially to serve the community of civilian and military personnel and employees of those activities assigned to the Naval Supply Center. Supply Center employees started it all, and the first office was in the Fleet & Industrial Supply Center building. Since then, we have grown and expanded tremendously, from less than 250 members in our first year, to over 10,000 strong today.
PortAlliance Federal Credit Union is a member owned, friendly provider of progressive, convenient, affordable financial services. We will promote thrift and fiscal responsibility for our members and our credit union. Improving the quality of life for our members is the measure of our success.
Message from the President
Welcome to PortAlliance Federal Credit Union, your credit union. We have proudly served the financial needs of our members since our charter was signed in 1958. Call on us for all of your financial needs, 757-461-1796 or 1-800-335-1796.
President & CEO
What is a credit union?
Credit Unions are not-for-profit financial cooperatives serving members who share something in common: employment, association membership, or residence in a particular geographic area.
What does that mean in English? A cooperative is a business like any other business, but it belongs to the people who use it and operates only for the benefit of its members. Credit unions are owned by the people who use them, and their stated purpose is to serve their members, not to make a profit. A credit union is a safe place to save and borrow at reasonable rates.
In essence, members pool their money to make loans to one another. Because they're not for profit, they can offer members things like higher dividends on savings and lower interest rates on loans.
Credit unions are democratically owned and controlled institutions based on "people helping people" principles. Credit union boards of directors are elected by members; each member has an equal vote, regardless of how much he or she has on deposit. Only members may serve as directors, and directors serve without compensation. Credit Unions have no outside stockholders, so after reserves are set aside, earnings are returned to members in the form of higher dividends on savings, lower loan rates and lower cost services.