First Care

Credit-Unions · VA

Rating: 4.0/5

First Care Federal Credit Union is a member-owned, not-for-profit credit union serving Carilion employees and families in Roanoke, VA with low-rate loans, savings accounts, and share certificates.

Official Website

https://www.firstcarefcu.com

First Care Review

First Care Federal Credit Union began 49 years ago as Carilion Community Hospital Federal Credit Union and has maintained its mission to support the saving and borrowing needs of its membership and community. Today, it operates as a member-owned, not-for-profit organization with 1,260 members and serves primarily Carilion employees and retirees, their immediate family or household members, and employees of select Carilion contractors. The credit union is federally insured by the National Credit Union Administration (NCUA) with coverage up to $250,000 per account.

First Care offers a straightforward suite of financial products including low-interest personal loans, vehicle loans, interest-bearing savings (share) accounts, Christmas club accounts, vacation accounts, and share certificates at competitive rates. The credit union emphasizes its member-focused approach, positioning itself as an alternative to traditional banks and outside lenders with the promise of better loan rates. They also provide practical member benefits such as discounted movie tickets at AMC and Regal theaters nationwide.

The credit union distinguishes itself through its strong community commitment, evidenced by two annual $500 scholarships named after former leadership figures Betty Barr and Kevin Martin. Operating from a single location in Roanoke, Virginia, with limited hours (Monday-Friday, 9:30am-5:30pm, closed weekends), First Care maintains personal service and accessibility through phone, email, and fax communication. Their membership restrictions and local focus create a tight-knit community of member-owners.

First Care is best suited for Carilion-affiliated employees and their families seeking competitive loan rates and straightforward savings products in the Roanoke area. However, potential members should verify eligibility first, as membership is restricted to specific employment categories. The limited branch hours and single physical location may present accessibility challenges for those seeking weekend or extended hours banking.

Pros & Cons

Reader-focused summary of the strongest reasons to consider First Care and the factors most worth weighing before contracting. Individual outcomes depend on your credit situation and goals.

Pros

✓Low-interest loan rates compared to traditional banks and outside lenders
✓All accounts federally insured up to $250,000 by NCUA
✓Member-owned, not-for-profit structure means earnings benefit members rather than shareholders
✓Annual scholarships ($500 each) demonstrate community investment commitment
✓Discounted movie tickets available at AMC and Regal theaters nationwide
✓Share certificates offered at competitive rates as alternative to bank CDs
✓Multiple savings account options including Christmas club and vacation accounts

Areas to Consider

!Membership restricted to Carilion employees/retirees and their families—not open to general public
!Single branch location in Roanoke, VA with limited accessibility
!Limited operating hours (Monday-Friday 9:30am-5:30pm only, closed weekends)
!Small membership base (1,260 members) may limit service breadth and product sophistication
!No mention of online banking, mobile apps, or digital services on website

Verdict Summary

First Care works best for consumers who value low-interest loan rates compared to traditional banks and outside lenders and can accept the tradeoff of membership restricted to carilion employees/retirees and their families—not open. Compare against similar providers below before signing any contract.

Services & Features

Services offered

✓Personal loans with low interest rates
✓Vehicle/auto loans
✓Interest-bearing savings (share) accounts
✓Christmas club savings accounts
✓Vacation savings accounts
✓Share certificates (credit union equivalent of CDs)
✓Account insurance coverage up to $250,000 via NCUA
✓Discounted movie tickets at AMC and Regal theaters
✓Betty Barr Memorial Scholarship ($500 annual)
✓Kevin Martin Memorial Scholarship ($500 annual)
✓Loan information consultations
✓Phone/email/fax member communication

Feature Checklist

✗Credit Monitoring

✗All Three Bureaus

✗Goodwill Letters

✗Cease Desist Letters

✗Debt Validation

✓Credit Education

✗Identity Theft Protection

✗Score Tracking

✗Mobile App

✓Online Portal

✓Personal Advisor

✗Ai Powered

Best For

•Carilion healthcare employees and retirees seeking member-owned credit union benefits
•Families of Carilion employees looking for low-rate loans and competitive savings products
•Employees of Carilion contractors eligible for membership wanting community-focused banking
•Local Roanoke residents with Carilion employment connections who prioritize lower loan rates

Before You Contact First Care

Before signing up with any Credit Unions provider, review these safeguards:

Confirm state licensing via your state regulator directory.
Check CFPB complaint data for the company name.
Read the contract before paying any upfront fees — most states prohibit upfront credit-repair fees.
Compare against alternative options before committing.

Compare Your Needs With First Care

Match these decision factors against First Care's profile before committing. This rubric mirrors what independent consumer-finance research typically checks for Credit Unions providers.

Category

Credit Unions

Service scope

12 services listed

Geographic coverage

Match to your priorities

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Budget priority: Pricing published above — factor in setup, monthly, and cancellation fees over the full expected service window.
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Complexity priority: Consider First Care's stated strengths (Low-interest loan rates compared to traditional banks and outside lenders) against your specific credit situation.
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Timeline priority: Credit Unions typically takes 3-6 months for meaningful outcomes. Providers guaranteeing overnight results are red flags under federal consumer protection law.
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Recourse priority: Confirm state licensing via your state regulator and check the CFPB complaint database before contracting.
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Alternatives: Compare against all Credit Unions providers, DIY options via non-profit counseling agencies, and free CFPB resources.

Pricing

Monthly Price: 0
Setup Fee: 0
Money Back Guarantee: False
Guarantee Details:
Free Consultation: True
Tiers: []
Currency: USD

Frequently Asked Questions

What services does First Care offer?

First Care offers 12 services including Personal loans with low interest rates, Vehicle/auto loans, Interest-bearing savings (share) accounts, Christmas club savings accounts, Vacation savings accounts, and 7 more. Confirm current service list directly with the provider before contracting.

Who is First Care best suited for?

First Care's profile signals suggest it may fit: Carilion healthcare employees and retirees seeking member-owned credit union benefits; Families of Carilion employees looking for low-rate loans and competitive savings products; Employees of Carilion contractors eligible for membership wanting community-focused banking; Local Roanoke residents with Carilion employment connections who prioritize lower loan rates. Individual outcomes vary based on your specific situation.

What are the strengths and weaknesses of First Care?

Key strengths: Low-interest loan rates compared to traditional banks and outside lenders; All accounts federally insured up to $250,000 by NCUA; Member-owned, not-for-profit structure means earnings benefit members rather than shareholders. Areas to consider: Membership restricted to Carilion employees/retirees and their families—not open to general public; Single branch location in Roanoke, VA with limited accessibility.

How does First Care compare to similar companies?

In the Credit Unions category, comparable providers include Navy Federal Credit Union, Security Service Federal Credit Union, 1199 SEIU Federal CU. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.

How much does First Care cost?

Listed pricing for First Care: monthly price: 0; setup fee: 0; money back guarantee: False. Pricing may change — verify current fees directly with the provider before signing any contract.

Visit First Care

State Consumer Finance Context

This is state-level context for Credit Unions consumers in Virginia. It does not confirm that First Care or this specific location is licensed.

State regulator: Virginia Bureau of Financial Institutions

Consumer protection: Virginia Attorney General Consumer Protection Section

Credit and debt help rules in Virginia

Relevant law: Virginia Credit Services Businesses Act (Va. Code Ann. § 59.1-335.1 to 59.1-335.12)
Registration: Required with Virginia Department of Agriculture and Consumer Services
Upfront fees: Prohibited under state law
Cancellation window: 5-day right to cancel
Bond required: Variable — 100× standard fee; minimum $5,000, maximum $50,000

Key state rules to check

Credit repair organizations must provide a written contract before providing services, clearly stating all terms and conditions
Organizations must disclose all consumer rights under federal law, including rights under the Fair Credit Reporting Act and Fair Debt Collection Practices Act
Upfront payment for credit repair services is prohibited; payment must be contingent on actual results
Consumers have the right to cancel a contract within 5 business days without penalty or obligation
Credit repair organizations cannot charge for disputing inaccurate information on credit reports or claim they can remove accurate negative information

Payday lending in Virginia: Restricted (max $2500)

Usury cap: 36% APR cap on consumer loans (Fairness in Lending Act, 2020); 12% general usury

Complaint resources

Virginia Bureau of Financial Institutions — Handles complaints against licensed lenders, credit repair organizations, mortgage companies, and other financial service providers. Enfo...
Virginia Attorney General Consumer Protection Section — Accepts complaints about predatory lending, unfair lending practices, credit repair fraud, and other consumer finance violations. Can tak...
Consumer Financial Protection Bureau (CFPB) — Federal regulator handling complaints about consumer financial products and services, including loans, credit reporting, and lending disc...
Virginia Fair Housing Office — Handles complaints of lending discrimination based on protected characteristics including race, color, national origin, religion, sex, di...

State references

Virginia enacted the Fairness in Lending Act in 2020, capping consumer loans at 36% APR and reforming the payday and title lending industry. Short-term loans are limited to $2,500 with reasonable terms. Consumers can file complaints with the Bureau of Financial Institutions or the Attorney General.

Similar Companies ⓘ

Comparable Credit Unions providers with similar service scope. Ratings reflect stored review context; verify current licensing and pricing directly before contracting.

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1199 SEIU Federal CU

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1st Choice Credit Union

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1st United

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360

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3Hill Credit Union

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A+ Federal Credit Union

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Quick Summary

First Care — Credit Unions in VA.

Overall rating: 4.0/5

First Care Federal Credit Union is a member-owned, not-for-profit credit union serving Carilion employees and families in Roanoke, VA with low-rate loans, savings accounts, and share certificates.

Visit First Care

Next Steps

Compare First Care against similar options above.
Run our borrowing power quiz to see how First Care matches your situation.
Check state regulator listings for First Care's licensing before committing.
Visit First Care once you're ready.

Glossary of Terms

Common terms that come up when comparing Credit Unions providers. Full glossary at creditdoc.co/glossary/.

Amortization — Loan Amortization: The process of paying off a loan through regular payments that cover both principal and interest. Early payments are mostly interest; later payments are mostly principal.; Why it matters: Understanding amortization explains why paying extra early in a loan saves the most money — you're reducing the principal that interest is calculated on.; Example: Month 1 of a $200,000 mortgage at 6%: your $1,199 payment splits as $1,000 interest + $199 principal. By month 300: only $47 goes to interest and $1,152 goes to principal.
Balloon Payment: A large lump-sum payment due at the end of a loan, after a period of smaller monthly payments. The loan isn't fully paid off by the regular payments — the balloon settles it.; Why it matters: Balloon payments make monthly payments look affordable but create a financial cliff. If you can't pay or refinance at the end, you could lose your home or asset.; Example: A 5-year balloon mortgage on $200,000: you pay $1,054/month (as if it were a 30-year loan), but after 5 years you owe a balloon of $186,108 all at once.
Collateral — Loan Collateral: An asset you pledge to the lender as security for a loan. If you stop paying, the lender can seize and sell that asset to recover their money.; Why it matters: Secured loans (with collateral) have lower interest rates because the lender has less risk. But you could lose your home, car, or savings if you default.; Example: A mortgage uses your house as collateral. A car loan uses your vehicle. A title loan uses your car title. If you miss payments, the lender can foreclose or repossess.
Cosigner — Loan Cosigner: A person who agrees to repay your loan if you can't. They're equally responsible for the debt, and their credit is affected by your payment behavior.; Why it matters: Cosigning helps people with thin credit get approved or get better rates. But it's a huge risk for the cosigner — they're on the hook for the full amount if you default.; Example: A parent cosigns their child's $30,000 student loan. The child stops paying after 6 months. The parent is now legally required to make the payments or face collections, lawsuits, and credit damage.
Credit Bureau — Credit Reporting Agency (Bureau): A company that collects and sells information about your credit history. The three major bureaus are Equifax, Experian, and TransUnion.; Why it matters: Not all lenders report to all three bureaus, so your reports may differ. You should check all three reports because an error on one could be costing you money.; Example: Your car loan only reports to Equifax and TransUnion. Your Experian report doesn't show that good payment history, so your Experian score is 15 points lower.
Credit Freeze — Security Freeze / Credit Freeze: A free tool that locks your credit report so no one (including you) can open new accounts until you lift it. It's the strongest protection against identity theft.; Why it matters: A credit freeze prevents criminals from opening loans in your name, even if they have your Social Security number. It's free by law and doesn't affect your credit score.; Example: Your data was in a breach. You freeze your credit at all 3 bureaus (takes 10 minutes online). A thief tries to open a credit card in your name — denied because the lender can't pull your frozen report.
Credit Mix — Credit Mix (Types of Credit): The variety of credit accounts you have — credit cards (revolving), auto loans (installment), mortgage, student loans, etc. Having multiple types shows you can manage different kinds of debt.; Why it matters: Credit mix accounts for about 10% of your FICO score. Having only credit cards isn't as strong as having a card, an installment loan, and a mortgage.; Example: Borrower A has 3 credit cards. Borrower B has 2 credit cards, a car loan, and a student loan. Even with the same payment history and utilization, Borrower B's score is typically higher.
Credit Report — Consumer Credit Report: A detailed record of your borrowing history maintained by credit bureaus. It lists every loan, credit card, payment history, collection, and public record tied to your name.; Why it matters: Errors on credit reports are common — 1 in 5 consumers has at least one mistake. Checking your report regularly is the first step to fixing errors that are costing you money.; Example: You pull your free report from AnnualCreditReport.com and find a $2,400 medical collection you already paid. You dispute it, the bureau verifies it's resolved, and your score goes up 40 points.
Credit Score: A 3-digit number (300-850) that summarizes how reliably you've handled borrowed money. Higher scores mean lower risk to lenders and better loan terms for you.; Why it matters: Your credit score determines whether you get approved and at what rate. A 100-point difference can mean thousands of dollars more or less in interest over a loan's life.; Example: On a $250,000 30-year mortgage: a 760 score gets you 6.2% ($1,536/month). A 660 score gets 7.4% ($1,729/month). Over 30 years, the lower score costs you $69,480 more.
Credit Utilization — Credit Utilization Ratio: The percentage of your available credit that you're currently using. If you have $10,000 in credit limits and owe $3,000, your utilization is 30%.; Why it matters: Utilization is the second-biggest factor in your credit score (after payment history). Keeping it below 30% helps your score; below 10% is ideal.; Example: You have 3 cards with a $15,000 total limit. You're carrying $4,500 in balances (30% utilization). Paying down to $1,500 (10% utilization) could boost your score by 20-50 points.
Default — Loan Default: When you fail to repay a loan according to the agreed terms — usually after 90-180 days of missed payments. It's the point where the lender gives up on collecting normally.; Why it matters: Default triggers severe consequences: credit score drops 100+ points, the debt may be sent to collections, you could be sued, and your wages or assets could be seized.; Example: You miss 4 consecutive car payments. The lender declares your loan in default, repossesses your car, sells it at auction for $8,000, and you still owe the remaining $5,000 (called a deficiency balance).
FICO Score — Fair Isaac Corporation Score: The most widely used credit scoring model, created by Fair Isaac Corporation. 90% of top lenders use FICO scores for lending decisions.; Why it matters: FICO has many versions (FICO 8, 9, 10). Mortgage lenders still use older versions (FICO 2, 4, 5), so your mortgage score may differ from what free apps show you.; Example: Your FICO 8 score (used for credit cards) is 740. Your FICO 5 score (used for mortgages) is 725 because it weighs collections differently. Same credit history, different scores.
Hard Inquiry — Hard Credit Inquiry (Hard Pull): When a lender checks your credit report because you've applied for credit. Each hard inquiry can lower your score by 5-10 points and stays on your report for 2 years.; Why it matters: Multiple hard inquiries in a short period suggest you're desperately seeking credit, which is a red flag. Exception: mortgage and auto loan shopping within 14-45 days counts as one inquiry.; Example: You apply for 5 credit cards in one month. Each application triggers a hard inquiry. Your score drops 25-50 points from the inquiries alone, making each subsequent application harder.
Loan Term (Tenor) — Loan Term / Tenor: How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.; Why it matters: Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.; Example: Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
Origination Fee — Loan Origination Fee: A one-time fee the lender charges to process and set up your loan. It covers their costs for underwriting, verifying your information, and preparing paperwork.; Why it matters: Origination fees are usually 1-8% of the loan amount and are often deducted from your loan proceeds — so you receive less than you borrowed.; Example: You're approved for a $10,000 personal loan with a 5% origination fee. The lender deducts $500 upfront, so you receive $9,500 in your bank account but owe $10,000 plus interest.