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Chartway Federal Credit Union

Chartway Federal Credit Union Locations
160 Newtown Road
Virginia Beach, VA 23462
757-552-1000 ext. 46000
www.chartway.com



Chartway Federal Credit Union is headquartered in Virginia Beach and is the 5th largest credit union in the state of Virginia. It is also the 67th largest credit union in the nation. It was established in 1959 and as of December of 2011, it had grown to 559 employees and 223,838 members. Chartway Federal Credit Union's savings rates are 44% higher than the national average, and it has a 3-star health rating.

Related Posts

Special 7-Month CD Rate at Chartway Federal Credit Union - Limited Membership - 12/13/2011

Chartway Federal Credit Union is offering a 7-month CD promotion with very competitive rates. For deposits of $100K to $500K, the 7-month CD has a 1.25% APY. For deposits of $5K to under $100K, the CD ...

Chartway Federal Credit Union 3.84% $5K $20K $384 Echecking - Qualifying (Forum) - 11/8/2011

The subject post on Deposit Accounts is incorrect. I called Chartway and was told that they don't have such Reward checking Account.

E-Checking Rewards Accounts - Sold Out (Forum) - 4/5/2011

As of last Friday.  This applies to e-savings accounts too.  Old accounts are grandfathered.

No Longer Offered - Competitive Savings Account at Chartway Federal Credit Union - Limited Membership - 2/14/2011

I first reported on Chartway Federal Credit Union 's reward checking account called eChecking in July 2008. The rates have remained unchanged since then, but the best deal is now the companion savings ...

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See Rates for: Checking | Savings | Money Market | CD | IRA

Chartway Federal Credit Union Checking Account Rates

ApyMinMaxProduct
0.40%$2,500-Premier Checking
0.25%$1,500-Elite 50 Checking Plus
0.10%$2,500-Preferred Checking
0.10%$2,500-Preferred Plus Checking
0.10%$1,500-Elite 50 Checking

Chartway Federal Credit Union Savings Account Rates

ApyMinMaxProduct
0.75%$10k-IRA Fund
0.75%$10k-Roth IRA Fund
0.75%$10k-CESA Fund
0.30%$5k-Special Share
0.15%$2k-Prime Share
0.05%$100-Custom Share

Chartway Federal Credit Union Money Market Rates

ApyMinMaxProduct
0.45%$100k-Money Market Plus w/o Checking
0.45%$100k-Market Link w/o Checking
0.45%$100k-Market Link w/Checking
0.45%$100k-Money Market Plus w/Checking

Chartway Federal Credit Union CD Rates

ApyMinMaxProduct
1.51%$10k-60 Month CD w/ Checking
1.26%$10k-60 Month CD w/o Checking
1.05%$10k-48 Month CD w/ Checking
0.85%$10k-36 Month CD w/ Checking
0.80%$10k-48 Month CD w/o Checking
0.60%$10k-36 Month CD w/o Checking
0.60%$10k-24 Month CD w/ Checking
0.45%$10k-12 Month CD w/ Checking
0.45%$10k-18 Month CD w/ Checking
0.35%$10k-24 Month CD w/o Checking
0.35%$1k-12 Month No Penalty CD w/ Checking
0.30%$500-6 Month CD w/ Checking
0.20%$10k-12 Month CD w/o Checking
0.20%$10k-18 Month CD w/o Checking
0.10%$1k-12 Month No Penalty CD w/o Checking
0.05%$500-6 Month CD w/o Checking

Chartway Federal Credit Union IRA Rates

ApyMinMaxProduct
1.51%$10k-60 Month Roth IRA w/Checking
1.51%$10k-60 Month IRA w/Checking
1.51%$10k-60 Month CESA w/Checking
1.26%$10k-60 Month Roth IRA w/o Checking
1.26%$10k-60 Month IRA w/o Checking
1.26%$10k-60 Month CESA w/o Checking
1.05%$10k-48 Month CESA w/Checking
1.05%$10k-48 Month IRA w/Checking
1.05%$10k-48 Month Roth IRA w/Checking
0.85%$10k-36 Month Roth IRA w/Checking
0.85%$10k-36 Month IRA w/Checking
0.85%$10k-36 Month CESA w/Checking
0.80%$10k-48 Month CESA w/o Checking
0.80%$10k-48 Month IRA w/o Checking
0.80%$10k-48 Month Roth IRA w/o Checking
0.60%$10k-36 Month Roth IRA w/o Checking
0.60%$10k-24 Month Roth IRA w/Checking
0.60%$10k-24 Month IRA w/Checking
0.60%$10k-36 Month IRA w/o Checking
0.60%$10k-24 Month CESA w/Checking
0.60%$10k-36 Month CESA w/o Checking
0.45%$10k-12 Month Roth IRA w/Checking
0.45%$10k-12 Month IRA w/Checking
0.45%$10k-12 Month CESA w/Checking
0.45%$10k-18 Month CESA w/Checking
0.45%$10k-18 Month IRA w/Checking
0.45%$10k-18 Month Roth IRA w/Checking
0.35%$10k-24 Month Roth IRA w/o Checking
0.35%$10k-24 Month IRA w/o Checking
0.35%$10k-24 Month CESA w/o Checking
0.30%$500-6 Month Roth IRA w/Checking
0.30%$500-6 Month IRA w/Checking
0.30%$500-6 Month CESA w/Checking
0.20%$10k-12 Month Roth IRA w/o Checking
0.20%$10k-12 Month IRA w/o Checking
0.20%$10k-12 Month CESA w/o Checking
0.20%$10k-18 Month CESA w/o Checking
0.20%$10k-18 Month IRA w/o Checking
0.20%$10k-18 Month Roth IRA w/o Checking
0.05%$500-6 Month Roth IRA w/o Checking
0.05%$500-6 Month IRA w/o Checking
0.05%$500-6 Month CESA w/o Checking

Rates updated: 5/27/2012 * Not all products updated

Data for Q4 2011


Institution Statistics


CHARTWAY
NCUA #13242
BankRate ReportView
Year Chartered1959
Employees559
Primary Regulator

Assets and Liabilities

Assets$1.91 billion
Loans$1.02 billion
Deposits$1.76 billion
Equity Capital$130.24 million
Loan Loss Allowance$12.02 million
Unbacked Noncurrent Loans$20.03 million
Real Estate Owned$6.53 million

Historic Data - December 2010

Assets$1.77 billion
Equity Capital$123.33 million
Loan Loss Allowance$10.75 million
Unbacked Noncurrent Loans$7.98 million
Real Estate Owned$6.45 million

Profit Margin - Quarterly

Net Interest Margin5.23%
Return on Assets0.36%
Return on Equity5.21%
Interest Income$66.03 million
Non-Interest Income$24.06 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio3
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2011 Chartway Federal Credit Union had $26.56 million in non-current loans and owned real-estate with $142.26 million in equity and loan loss allowances on hand to cover it. This gives Chartway Federal Credit Union a Texas Ratio of 18.67% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Chartway Federal Credit Union increased slightly from 10.76% as of December 31, 2010 to 18.67% as of December 31, 2011, resulting in a negative change of 73.56%. This indicates that the balance sheet and financial strength for Chartway Federal Credit Union has declined slightly in recent periods.
Deposit Growth5
In the past year, Chartway Federal Credit Union has increased its total deposits by $132.34 million, resulting in 8.15% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Chartway Federal Credit Union has shown is excellent.
Capitalization2
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Chartway Federal Credit Union has $1.91 billion in assets with $142.26 million in equity, resulting in a capitalization level of 7.47%, which is below average.
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Chartway Federal Credit Union Customer Service
1 stars - CiscoBBJ - Wednesday, April 4, 2012 - 6:35 AM

Twenty plus year member.  Have had very bad luck / circumstances with this Credit Union.  Very hard to get a human on the phone, and when you do, takes an enormous amount of time to resolve issue.   Recently, took 16 days to restore e account access.  Then billpay went haywire.  I had to go into main office, situation still not resolved to my satisfaction.   I am leaving Chartway once I get twenty plus years worth of autopays and direct deposits shifted to another Credit Union.

4

Great Credit Union. Needs More Locations.
4 stars - ttaya001 - Saturday, April 23, 2011 - 7:55 AM

I have been with Chartway Federal Credit Union since I was in high school. I have nothing but good things to say about them because I have had no problems with them. Since they are a relatively not well known bank nationwide I feel that I get more attention from them. Their customer service is top of the line and they solve any problems or questions I have promptly. If I had to say one negative thing about them it would be that they don't have a lot of branches outside the Hampton Roads area. I recently moved to Richmond, VA for graduate school and there is no Chartway branch in this area so whenever I need money from an ATM I always get charged .75 cents. I know it is not much, but I would of liked to go to a specific Chartway ATM and pull out money. Other than that bump in the road, I will probably stick with Chartway for many more years to come.

1

I Live In Rhode Island And Have Recently Opened Several Cds With Chartway At Very Good Rates
4 stars - Anonymous - Tuesday, February 23, 2010 - 11:22 AM

I live in Rhode Island and have recently opened several CDs with Chartway at very good rates.  They do require a checking account in order to receive a .25% "bonus" rate.  You are NOT required, however, to actually order checks.  I am extremely happy with the service I have received from the institution and highly recommend Chartway.

1