On December 30, 2021, the National Credit Union Administration (NCUA) closed and placed into liquidation the Portsmouth Schools Federal Credit Union (PSFCU) and has entered into a “purchase and assumption” agreement with BayPort Credit Union.
Your funds are safe
All accounts, debit cards, and bill pay transactions are going to work just the way they always have.
Direct deposits and payroll deductions will continue without interruption.
Same PSFCU branch
Your Portsmouth branch and the same helpful, smiling PSFCU staff will continue serving you.
Your accounts continue to be insured up to $250,000 by NCUA per the Federal Credit Union Act.
Organized as Newport News Shipbuilding and Dry Dock Co. Employees’ Credit Union in 1928 to serve the financial needs of shipyard employees and their families, today BayPort Credit Union is rated a Superior 5-Star Credit Union by Bauer Financial and serves individuals and businesses of the Virginia Peninsula, Southside, and surrounding coastal communities. We have a strong commitment to education and are excited to introduce you to what we have to offer.
Once your account has transitioned to a new BayPort account, you’ll have access to 27 BayPort branches located across the Southside and Peninsula. Until that time, all transactions to or from your current account must be completed at the Portsmouth branch. BayPort is also part of CULIANCE and the CO-OP Shared Branch Network, providing you access to over 30,000 ATMs and 5,600 shared branch locations available for you to do a range of transactions at another credit union or ATM.
Yes, this location will remain open. Hours of operation are:
Monday – Thursday 9 am – 5:30 pm
Friday 9 am – 6 pm
Once your accounts have transitioned fully to BayPort, you will have access to all 27 BayPort locations including Portsmouth.
To make in-branch deposits, withdrawals, loan payments, etc., you can only visit the Portsmouth branch until you have set up a new account with BayPort. You may continue to use your debit card as normal.
Members will receive additional information when the transition date has been determined. We will communicate with you every step of the way.
Yes, log in here to access Online Banking. You may also contact CUTALK at 757-398-7777 (CU Access Code: 876) if you are registered for audio access.
No. Your accounts, debit cards, online banking, bill pay transactions, etc. will continue to work as normal until the transition to BayPort is complete.
Direct deposits, payroll deductions, and any other automatic deposits or withdrawals will continue without interruption.
Your account will automatically convert to a BayPort account once a date is set in early 2022. We will convert your current PSFCU account number to a new BayPort account number. In fact, we encourage you to transition your account early so you are able to access all the BayPort locations and products. To move your account today, visit one of the following locations:
Yes, your loans will be transferred with no change to your current rate and terms at a later date.
You may visit one of the following locations to apply for a new loan or add additional products and services.
Yes, your accounts continue to be insured up to $250,000 by the National Credit Union Administration (NCUA).
Please visit the Portsmouth branch for changes to your direct deposit or payroll deduction prior to transitioning your account to BayPort.
If you have any questions regarding this transition, please contact BayPort by calling 757-928-8850 or 800-928-8801 for assistance.