Our History
Throughout BayPort Credit Union’s history, we’ve played a significant role in the growth, security, and well-being of the Virginia peninsula and surrounding community.
Timeline
February 26
BayPort is Born
Originally established as the Newport News Shipbuilding & Dry Dock Company Employees’ Credit Union, BayPort begins operations.
February 26
Grow, Grow, Grow
1930 – Adds members by the thousands
1935 – Joins newly organized Virginia Credit Union League
1940 – BayPort steadily increases assets to over $250,000
February 26
Assets Accumulate
1952 – BayPort begins the decade with $1 million in assets
1954 – Introduces payroll deduction, loan protection, and life savings insurance coverage
1958 – Closes the decade with $3 million in assets
February 26
BayPort Booms & Builds
1961 – Scholarship program begins
1962 – $10 million in assets & membership reaches 16,000
1963 – 1st branch location opens in Newport News, 37th St
1964 – Over 80% of shipyard employees enrolled in payroll deduction
1967 – Embraces the future; converts to full computer operations
February 26
Groovin’ Into Another Decade
1973 – 25,000 members strong
1977 – 2nd branch location opens in Newport News, 50th St
1978 – BayPort celebrates 50 years & $50 million in assets
February 26
Expanding in the 80s
1983 – 3rd branch location opens in Newport News, Denbigh
1984 – BayPort hits $100 million in assets & 100,000 accounts
1986 – 4th branch location opens in Hampton
1989 – BayPort introduces ATM services
February 26
A New Era in Tech
1996 – They’re online, folks! BayPort gets a website; Celebrates $500 million in assets; 5th branch opens in Newport News, Hidenwood
1997 – Mergers with Chessie Credit Union & 6th branch opens in Newport News, Newmarket
1998 – 7th branch opens in Smithfield; President Clinton signs the Credit Union Membership Act, making millions of Americans eligible to participate in credit unions.
February 26
New Century, New Name
2000 – 8th branch opens in Yorktown, Grafton
2003 – BayPort celebrates 75 years with over 75,000 members & $750 million in assets
2004 – 9th branch opens in Suffolk
2005 – 10th branch opens in Chesapeake
2006 – 11th branch opens in Gloucester
2007 – Changes name to BayPort Credit Union & 12th branch opens in Williamsburg
2008 – 13th branch opens in Newport News, City Center
2009 – $1 billion in assets
February 26
Brightening Financial Futures
2011 – Credit union merger with Smithfield Packing & 14th branch opens
2012 – Merger with mTCU opens 15th branch in Virginia Beach, Holland Road
2013 – 16th branch opens in Hampton, Fox Hill
2014 – Credit union mergers with Hampton Roads Postal, Chesapeake City Employees, and Hampton City Employees Credit Union; 17th & 18th branches open in Chesapeake, Battlefield & Great Bridge; 19th & 20th branches open in Hampton, Big Bethel & Hampton City; Student-Run Credit Union program launches
January 1
90 Years Later
2015 – 21st branch opens in Chesapeake, South Battlefield & 22nd branch opens in Norfolk
2016 – 23rd branch opens in Virginia Beach, Providence Road & 24th branch location opens in Newport News, Brooks Crossing
2017 – Exceeds $1.5 billion in assets
2018 – BayPort celebrates 90 years! Grows Student-Run Credit Union program to 50 inside local elementary, middle, private and high schools across Hampton Roads
January 1
Stronger Than Ever
2019 – BayPort increases its college tuition scholarship program from $78,000 to $90,000. James B. Mears named Chief Executive Officer; the fifth CEO in BayPort’s 91-year history. 25th branch location opens in North Suffolk
2020 – BayPort donates $150,000 to five local organizations to help the Hampton Roads community cope with the COVID-19 pandemic. BayPort helps local businesses through the CARES ACT Paycheck Protection Program, funding $50 million in loans, saving hundreds of local jobs.
2021 – Three new branches open in Gloucester, Chesapeake, and Virginia Beach. BayPort celebrates 60-years awarding more than $1 million in scholarship assistance. Forbes’ magazine names BayPort to its annual list of America’s Best-In-State Credit Unions.
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