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BBB Accredited Business since

River Trace Federal Credit Union

Phone: (804) 266-2767 6011 Staples Mill Rd, Richmond, VA 23228

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BBB Accreditation

A BBB Accredited Business since

BBB has determined that River Trace Federal Credit Union meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for River Trace Federal Credit Union include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 1 complaint(s) filed against business
  • Resolution of complaint(s) filed against business

Industry Ratings Comparison | Chart

Customer Complaints Summary Read complaint details

1 complaint closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 1
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 0
Total Closed Complaints 1

Customer Reviews Summary Read customer reviews

0 Customer Reviews on River Trace Federal Credit Union
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: April 30, 2012 Business started: 06/01/1956 in VA Business incorporated 06/01/1956 in VA
Type of Entity

Cooperative Association

Business Management
Ms. Catherine McDermott, CEO
Contact Information
Principal: Ms. Catherine McDermott, CEO
Business Category

Credit Unions

Additional Locations

  • 6011 Staples Mill Rd

    Richmond, VA 23228 (804) 266-2767


BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

10/23/2013 Billing/Collection Issues | Read Complaint Details

Additional Notes

Complaint: My credit union told me in January that my account may be charged inactivity fees if I do not have any activity on the account within a year. I was then charged fees for July, August, and September and notified through a quarterly statement. I immediately called and asked for the fees to be refunded and close the account because the fees were charged before the timeframe had expired. I was informed that they could not refund the fees bout would be happy to close the account. It feel deceptive to tell me I will be charged a fee if I don't transact on the account within a year and then charge me those fees before the year is up. They charged ***** of my account balance in fees. The first time I was motified of the fees, I requested the account be closed and fees refunded.

Desired Settlement: Refund ***** in fees.

Business Response: When a new member opens and account with RF&P they are given a membership application to sign along with Membership Terms & Conditions  disclosures, plus a schedule of fees.  Outlined in each of these documents is disclosure of the inactivity fee.  If there is no activity on an account for a period of 24 months from the date of the last transaction the account is charged the inactivity fee.  This member was NOT charged an inactivity fee until the 24 month period had passed. The account was opened July 5, 2011 and the fee was accessed July 31, 2013.  In addition to the initial disclosures that are provided, each January newsletter the inactivity notification is posted.  Our schedule of fees is also posted on our website for members to review.  RF&P has more than fullfilled our fiduciary responsibility to notify members of the terms and conditions and any fees that may apply to their account.  As an account hold it is there responsibility to maintain their account according to the terms and conditions.  We can provide the information, but if the member is not going to read the information provided I'm not sure what else we can do.   Do to the information being provided numerous times, we will not be refunding the fees.