# Dominion Energy Credit Union

Dominion Energy Credit Union is a Pension Fund based in Richmond, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Richmond, United States
- **Region:** North America
- **Address:** Richmond, VA, United States
- **Founded:** 1995
- **Assets under management:** $4M (Altss estimate)
- **Website:** www.dominionenergycu.org
- **LinkedIn:** https://www.linkedin.com/company/dominionenergycu

## Regulatory record

- **Reports private funds:** No

## About

Dominion Energy Credit Union was established in 1995 in Richmond, Virginia, as the fiduciary entity responsible for the Dominion Energy Peoples Union Retiree Health and Welfare Plan. The plan covers eligible employees of Dominion Energy, Inc., providing medical and life insurance benefits. Afua Essandoh serves as President and CEO, having assumed the role in 2023, while Ed Baine, President of Dominion Energy Virginia, chairs the board. The board also includes Carlos M. Brown, SVP and General Counsel of Dominion Energy, Inc. The plan functions as a captive welfare-benefit trust rather than a traditional single-family office or pension fund. The investment strategy is fully defined by the liability structure of the plan. The trust allocates across buyout private equity funds, co-investment multi-manager vehicles, distressed debt, and mezzanine credit — asset classes that generate contractual cash flows or returns upon realization. This matches the plan's obligation to fund retiree medical premiums and life insurance claims. Real estate exposure includes the Credit Union's own headquarters at 1100 Boulders Parkway in Richmond and a downtown branch at 600 East Canal Street. The loan portfolio, another income-producing asset, extends across Virginia, North Carolina, South Carolina, and Ohio. Afua Essandoh took the helm in 2023, bringing an external leadership perspective to the historically employer-governed entity. The credit union participates in broader industry networks including America's Credit Unions and the Co-Op Shared Branching network, which gives members access to other credit union branches nationally. Essandoh serves on the board of The Doorways, a Richmond-based nonprofit. The organization also operates a small scholarship program for its membership, reinforcing its embedded role within the Dominion Energy employee community. The plan's structural differentiator is its status as a closed welfare-benefit plan attached to a single employer. Unlike open pension funds or family offices that pursue growth or intergenerational wealth transfer, this entity manages a fixed liability pool for a finite population of retirees. Its investment committee is drawn from Dominion Energy's senior leadership, ensuring the plan's posture remains tightly aligned with the sponsor's conservative risk tolerance.

## Sectors

- Real Estate
- Private Credit

## People

- Afua Essandoh — President and CEO
- Ed Baine — Board Chair
- Carlos M. Brown — Board Member

## Questions

### Who runs investment decisions at Dominion Energy Credit Union?

Investment decisions are overseen by the board of directors, chaired by Ed Baine, President of Dominion Energy Virginia, and including Carlos M. Brown, SVP and General Counsel of Dominion Energy, Inc. Afua Essandoh, appointed President and CEO in 2023, leads the organization's operations.

### What is the legal structure of Dominion Energy Credit Union's investment assets?

The investment assets belong to the Dominion Energy Peoples Union Retiree Health and Welfare Plan, a defined-benefit trust established in 1995. This trust is a separate legal entity from the credit union's retail banking operations, existing solely to fund retiree medical and life insurance benefits.

### Does Dominion Energy Credit Union take outside capital or co-investors?

No. The plan's capital comes exclusively from Dominion Energy, Inc. contributions and investment returns on the existing asset base. The closed nature of the plan means it does not accept external investors or co-investment commitments from parties outside the trust.

## Related profiles

- [Community Foundation for the Fox Valley Region](https://altss.com/profile/community-foundation-for-the-fox-valley-region-inc)
- [Irvine Health Foundation](https://altss.com/profile/irvine-health-foundation)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/dominion-energy-credit-union

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology