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Frequently Asked Questions

What is accounts receivable factoring and how does it work?

Accounts receivable factoring is also known as invoice factoring or accounts receivable financing. Factoring is a financial transaction in which a company sells its receivables to a financial company (called a factor).

Why Virginia Beach schools Federal Credit Union?

For 60 years, Virginia Beach Schools Federal Credit Union has served members and brought value by offering convenience and access to financial products and services. We have been proud to help members achieve their financial goals.

Why choose a Virginia Beach school savings account?

As part of our Do Good and Partner in Education initiatives, we also created specialized savings and checking accounts for local Virginia Beach schools, PTA’s, and school-related clubs and/or booster clubs. be a perfect fit! This solution will simultaneously help you protect your identity and offer benefits such as cash rewards.

What is accounts receivable (AR)?

Accounts Receivable Accounts Receivable (AR) represents the credit sales of a business, which have not yet been collected from its customers. Companies allow to a finance company that specializes in buying receivables at a discount (called a factor).

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