A legacy of people helping people
From our original inception in 1944, as Army Air Force Annex #1 Credit Union, CommonWealth One has grown to serve over 38,000 members and hold over $550 million in assets with branches in Alexandria, VA, Washington, D.C., and Harrisonburg, VA.
Through the decades, the one that thing that remains the same is our commitment to putting our members at the heart of everything we do; today and for life. Our principles are rooted in forming lasting relationships that improve the lives of our members and community.
We are forward thinking, but understand our roots and how we make a difference in our members’ financial goals and their path to a better way of life. Our first priority is your financial wellness, offering a fresh and creative take on delivering financial products and services, wherever and whenever needed by you.
What is a credit union?
CommonWealth One FCU is different from a bank because we're a not-for-profit financial cooperative owned and controlled by its members. That means we answer to you, not shareholders. It also means we're able to charge lower fees and offer better rates on loans and deposits compared to other financial institutions. Plus, we're committed to giving back to the communities where we work and live. Like all credit unions, we are regulated by the National Credit Union Administration (NCUA), a federal agency. Your deposits are insured up to at least $250,000 and backed by the full faith and credit of the United States government.
Our Commitment to You
For You, For Life. Its more than a slogan. It’s our culture of service and promise to our members, today and wherever their paths take them. We are your financial ally and expert, and we are there for our members every step of the way.
- 2021 Annual Report
- 2020 Annual Report
- 2019 Annual Report
- 2018 Annual Report
- 2017 Annual Report
- 2016 Annual Report
Board of Directors
- Rupert J. Jennings, III, Chairman
Rupert Jennings has been a member of CommonWealth One for over 40 years. He joined the credit union while working for the Federal Government at the Headquarters, U.S. Army Corps of Engineers, where he served for over 33 years, retiring from a senior position in the Office of the Chief Counsel in 2014. Mr. Jennings was recruited to join CommonWealth One’s Board of Directors in 1999 and has served on the Board continuously since that time.
- Daniel Murray, Vice Chairman
Dan Murray has volunteered for CommonWealth One since 2011, serving first as a Supervisory Committee member and as a Board member since 2016. He graduated Magna Cum Laude from the George Mason University School of Law and holds a Bachelor of Arts degree in both philosophy and history from Seattle University. He also served as a captain in the Army JAG Corps from 2002 to 2006.
- John F. Knight, Treasurer
John Knight has served on the CommonWealth One Board since 2000, currently serving in the role of Treasurer. His past roles include Vice-Chairman and various committee roles. Mr. Knight graduated with honors from James Madison University with a double major in Accounting and Management. He is a Certified Public Accountant and held the positions of Internal Audit Manager, Assistant Controller, Controller, and Assistant Vice President for Finance at JMU. Mr. Knight is presently retired and holds a faculty Emeritus Finance from JMU.
- Archie B. Ford, Secretary
Archie Ford is a retired Department of Defense employee. He worked for the US Army Materiel Command for over 25 years as an audit program manager/director. After retirement, he worked for the Army Medical Command at Walter Reed Army Medical Hospital as a financial analyst and has a Bachelor of Science in Accounting from North Carolina A&T State University. Mr. Ford has served on the Commonwealth One’s Supervisory Committee from 1981 to 1999 and has served as a volunteer on Commonwealth One’s Board of Directors from 1999 to the present.
- Dr. William P. Jackameit
William Jackameit received his doctorate degree from the College of William and Mary and spent over 30 years teaching undergraduate, graduate, and non-credit courses in business, economics, finance, and public administration. He retired as a Lieutenant Colonel from the Air Force and was the VP for Finance and Administrative Services at Piedmont Virginia Community College. Dr. Jackameit joined the Board of Directors in 1995 and has served the board in many capacities over the years. He is currently serving as the Treasurer for the Board.
- George McAndrews
George McAndrews has been a member of CommonWealth One since it merged with the Alexandria Employees Credit Union (AECU) in 2003. George joined AECU as a member in 1992, when the City of Alexandria hired him as an Assistant City Attorney. He worked in the City Attorney Office for 29 years, retiring in January 2022. While a member of AECU, he served on its Supervisory Committee for eight years. The Board appointed George to CommonWealth One's Supervisory Committee in 2013. He chaired the Committee from 2015 until January 2022. George joined the Board in May 2022.
- Mary L. Summers
Mary Summers is a long-time member of CommonWealth One and joined the Board of Directors in 1992. She is a past Chairman and currently serves on the Human Resources and Technology Committees. Mrs. Summers retired from federal service in 2016 as a Deputy Associate CIO for Corporate IT Services. She currently provides leadership and advisory services for not-for-profit and inter-government organizations.
- Frank Q. Tedeschi, Chairman
- Jessie L. Horneber, Secretary
- Marvin T. Isom
- Ronald F. McCray
People Helping People
CommonWealth One is here for you.