Dedicated to Deposits: Deals, Data, and Discussion

7.00% 7-Month CD at Chartway FCU - $7K Max

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Chartway Federal Credit Union
Chartway Federal Credit Union just brought back its 7% APY 7-month CD certificate special. The minimum deposit is $2,500, and the maximum is $7,000. New members are immediately eligible for this CD. Existing members must refer a new member to be eligible. The new member who is referred must either open the 7% CD or a checking account with direct deposit of $500+ per month. The existing member can open up to three of these CDs (one per referral). Money must be new to the credit union. Certificate details are described on page 2 of the certificate rate sheet (pdf).

The $7K max is not too bad, and if you're able to open three of these CDs with a $7K deposit, you'll earn about $183 over what you would earn in a 5.50% CD.

This new special seems to replace the 5.75% CD special that Chartway had been offering for the last few months (see post).

Field of membership includes those who live, work, worship or go to school in a defined geographic area served by the credit union's Virginia, Florida, Rhode Island and Texas branches. A reader noted in a previous post that the geographic areas are narrow, so please call to see if you can be eligible. Membership requires a $5 minimum deposit into the Prime Share savings account.

Branches are located in Virginia, Georgia, Rhode Island, North Carolina, Texas, Florida, Ohio and New Jersey.

Chartway is federally insured by the NCUA (Charter # 13242). It has $1.2 billion in assets and 148,633 members.

Existing Chartway Members: Feel free to use this post to request new members. Unfortunately, new members don't have much incentive to be referred. If you can identify ways that new members can qualify for membership, that may help.

Thanks to the reader who emailed me info on this new special.
  Tags: Chartway Federal Credit Union, Virginia, Georgia, North Carolina, CD rates, Rhode Island, New Jersey, Texas, Ohio, Florida

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Comments
15 comments.
Comment #1 by cpaman (anonymous) posted on
cpaman
Please contact me at robertortega123@hotmail.com if you want a refferal at Chartway FCU.

1
Comment #2 by Anonymous posted on
Anonymous
Please contact me for Chartway referral at ebharani@gmail.com

1
Comment #3 by Z (anonymous) posted on
Z
contact me if you want to get a referral. stormloa5@gmail.com
Thanks.

1
Comment #4 by Anonymous posted on
Anonymous
Please contact me if you would like a referral at jaxres@bellsouth.net. Thanks.

1
Comment #5 by Mario (anonymous) posted on
Mario
Can someone describe the details of applying for membership and funding a Chartway CD over the phone or online?

The CSR mentioned that they had to have the funds in the savings account before they could open a CD if I open over the phone. I don't want to lose multiple days of interest if I can help it.

Thanks for any information!

1
Comment #6 by Keith (anonymous) posted on
Keith
I'm interested in a referral, but how does the process work? Do you just call ahead at the branch location before I show up? I'm in the Houston area. dkschatte@yahoo.com

1
Comment #7 by Anonymous posted on
Anonymous
Yeah, can some kind folks please let us know how the referral works?

1
Comment #8 by Anonymous posted on
Anonymous
You give your name to an existing member of the CU. The member give you his/her name and call Chartway to request that your name be added as a notation to the member's account. When you open your account give Chartway your referral's name so that it can match to the member's account and the member can then open the 7% CD based on the referral. If you need a referral, you can get in touch with me at jaxres@bellsouth.net

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Comment #9 by Anonymous posted on
Anonymous
How does the process work? Can this all be done online? Do you need to open a share account first then open the CD or can they be done at the same time? What options are available to fund the CD?
Is it easy or not? Thanks in advance.

1
Comment #10 by cpaman (anonymous) posted on
cpaman
Super fast referral. Email me: robertortega123@hotmail.com

1
Comment #11 by cpaman (anonymous) posted on
cpaman
Super fast referral. Email me: robertortega123@hotmail.com

1
Comment #12 by Anonymous posted on
Anonymous
Confirmed today. Chartway will allow membership to person outside the limited geographical area if a retired military family member (father, in my case) was on active duty in the geographical area (Virginia Beach, in my case).

1
Comment #13 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Glad to read of additional ways to be eligible to join.

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Comment #14 by Anonymous posted on
Anonymous
I just joined Chartway. If you live, work or own a business in an eligible area, you can be referred to become a member and get the 7% CD special. E-mail me and I can give you the number of my Chartway customer service rep, and also my name for your referral. It's best to call before going to a branch because you may not qualify. It'll save time, and once they establish that you can join it's quite easy to open an account. My e-mail is artcele372@yahoo.com.

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Comment #15 by markash (anonymous) posted on
markash
I will open a chartway account.

Houston

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