Chartway Federal Credit Union


Overview / Commentary
757-552-1000
5700 Cleveland St
Virginia Beach, VA 23462

Chartway Federal Credit Union is a full service credit union that offers a range of personal and business banking options to its members. Since its inception it has broadened its field of membership significantly and is now one of the largest credit unions in the country.

All of Chartway’s checking accounts come with a Visa Debit Card, access to the Co-Op ATM network, online banking, and an account protection program. Its saving and money market accounts offer quarterly dividend payments on interest and have minimum balance requirements.

Chartway Federal Credit Union online banking offers members the ability to perform account management tasks like fund transfers, Bill Pay, and check copy viewing. It also features a mobile app that enables remote check deposit as well as the other online banking functions.

Chartway FCU was founded in 1959 as NorVA N.A.S. Federal Credit Union before changing to its current name in 1996. It is headquartered in Virginia Beach, Virginia, and operates through multiple branch locations across several states.

Field of Membership Restrictions

Membership in Chartway Federal Credit Union is open to those who make a $10 donation to the We Promise Foundation, or live, work, worship, or attend school in an area served by one of Chartway FCU's branches.
See current membership details

Related Posts

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12/3/14 - Chartway FCU CD Rate Cuts
11/19/14 - Chartway FCU's 18-23 Month Web-Only CD Tops The Best Rate List
11/18/14 - Chartway 18 Month CD Rate Hike.
10/7/14 - Top Certificate Rates at Chartway Federal Credit Union
9/23/14 - 2.52% APY 5 Year CD, Chartway FCU. Quick Look.
2/22/13 - Special 11-Month CD Rate at Chartway Federal Credit Union
12/6/12 - Higher Special CD Rates at Chartway Federal Credit Union - Easy Membership
11/15/12 - Special 1-Year CD Rate at Chartway Federal Credit Union - Easy Membership
12/13/11 - Special 7-Month CD Rate at Chartway Federal Credit Union - Limited Membership
11/8/11 - Chartway Federal Credit Union 3.84% $5K $20K $384 Echecking - Qualifying
4/5/11 - E-Checking Rewards Accounts - Sold Out
2/14/11 - No Longer Offered - Competitive Savings Account at Chartway Federal Credit Union - Limited Membership
11/5/10 - Top 5-Year CD & IRA CD Rate Continues at HeritageWest Credit Union in Utah - Local Only
9/3/10 - Competitive CD Rates at Chartway FCU in Several States - Local Only - Update
8/24/10 - Competitive 5-Year CD & IRA CD Rate at HeritageWest Credit Union in Utah - Local Only
2/5/10 - Competitive CD Rates at Chartway FCU in Several States - Local Only
11/9/09 - No Longer Offered - Reward Checking Account at Chartway Federal Credit Union
10/11/09 - 2.00% 5-Month CD at Chartway FCU in Several States
4/27/09 - 3.03% 8-Month CD at Southwest Community FCU in UT, NV & AZ
12/17/08 - Update on Chartway FCU's 5.00% 7-Month CD ($25K Max)
12/17/08 - 5.00% 7-Month CD ($25K Max) at Chartway FCU in Rhode Island
7/2/07 - 5.75% 13-Month CD at a Multi-State CU (Chartway) - up to 6.51% possible.
7/2/07 - 7.00% 7-Month CD at Chartway FCU - $7K Max
5/13/07 - 5.75% 13-Month CD at Chartway FCU (up to 6.51% possible)
4/12/07 - 5.65% 17-Month CD at Chartway FCU
12/30/06 - 7.00% 7-Month / 5.88% 18-Month CD at a Multi-State CU (Chartway FCU).
8/21/06 - 6.25% 18-Month / 6.00% 15-Month CD at a Multi-State CU (Chartway)
8/9/06 - 6.25% 13-Month / 6.00% 10-Month CD at a Multi-State CU (Chartway FCU).
8/3/06 - Chartway's 8% CDs are Over, But 6.25% 13-mo CDs are Still Available
7/26/06 - Chartway's 8% 8-Month CD Promotion Ends Friday
6/9/06 - Need Referrals for Chartway's 8% 8-Month Certificate?
6/3/06 - 8% 8-Month CD at a Multi-State CU ($8K Max)

My Experience with Chartway Federal Credit Union

My husband is active duty Navy, so we lived in Virginia Beach, VA for a little over two years. While living there, we wanted to get an account with a local bank or credit union. After doing some research, we decided to visit Chartway Federal Credit Union by the Lynnhaven Mall. Upon arriving, the customer service representatives greeted us and asked how they could help us. We told them that we wanted some information on their banking services, but that we would not be joining their credit union until we had a chance to compare to a few other places in person. They were still very helpful and friendly, and never tried to rush us even though they knew we would not be signing anything that day. After comparing them to a few other places, we both decided that Chartway Federal Credit Union was the best place for us. The customer service representative remembered us by name and greeted us as soon as we entered. We were able to sign up that day for a checking account, savings account, and we were given information for various lending services in case we would ever need one. We never had any issues with bogus charges or fees. Interest rates were always very competitive. We visited multiple branches while living in the area, and never had a bad experience. All of their employees are always knowledgeable, friendly, and helpful. The lines always move in a timely manner, even on popular paydays like the 1st, 15th, and Fridays. I love how professional this credit union is and was very upset when we moved to a new state that did not have Chartway Federal Credit Union branches. The fees are minimal compared to most other places so it is always disappointing when I see charges with our new credit union that I know that Chartway Federal Credit Union would not have charged me.

They Hold Your Cashed Check For 7 Days

When you go cash any kind of check, they will put it in your bank and let it hold for 7 days until it clears. I wish that they would eliminate this requirement at all times, because I need money immediately, not 7 days later.

Had To Leave

Posted by: |

I had been with Chartway for over 10 years.

I noticed that all of my calls to them for the last few weeks were on hold for over 20 minutes to get to CS. Not during busy periods, either.

I did tell management that their staffing for LONG HOLD TIMES is something they should be seeing with me having to complain and leave.

Please post problems about extended wait times on this web site. NOT EXCEPTIONS, but consistently occurring long hold times.

Maybe we can get some attention on this issue.

WORST BANK EVER!!

Posted by: |

I’ve never dealt with more stupid and incompetent people or a bank ever. The mobile banking app is the worst I’ve ever had to use. They have to email you a paper that you have to sign in order to have auto pay. They are stupid and the horrible.

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Health

Health Grade Components

Overall
NCUA #13242
Year Chartered1959
Employees459
Primary Regulator
Profit Margin
Return on Assets - YTD0.04%
Return on Equity - YTD0.46%
Annual Interest Income$39.4MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$2.35B$2.20B
LoansQ2 2020vs Q2 2019$1.58B$1.70B
DepositsQ2 2020vs Q2 2019$2.10B$1.92B
Equity CapitalQ2 2020vs Q2 2019$204.8MM$203.4MM
Loan Loss AllowanceQ2 2020vs Q2 2019$18.8MM$18.0MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$17.7MM$18.5MM
Real Estate OwnedQ2 2020vs Q2 2019$13.00K$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Chartway Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Chartway Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$100-IRA Share
0.05%$100-Custom Share
0.05%$100-Prime Share
0.05%$100-Business Prime Share

Chartway Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%*$1m*$250kMoney Market Plus w/Checking
OTHER TIERS: 0.10% $10k - $100k | 0.25% $250k+
0.10%*$50k*-Money Market
OTHER TIERS: 0.05% $2.5k - $50k

Chartway Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%*$10k*-LifePlus Checking
OTHER TIERS: 0.02% $1.5k - $10k

Chartway Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%--60-71 Month Share Certificate
0.60%--48-59 Month Share Certificate
0.55%--36-47 Month Share Certificate
0.50%--24-35 Month Share Certificate
0.45%--18-23 Month Share Certificate
0.40%--12-17 Month Share Certificate
0.25%--6-11 Month Share Certificate
0.10%--12 Month No Penalty Share Certificate

Chartway Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%--60-71 Month IRA
0.60%--48-59 Month IRA
0.55%--36-47 Month IRA
0.50%--24-35 Month IRA
0.45%--18-23 Month IRA
0.40%--12-17 Month IRA
0.25%--6-11 Month IRA
Locations

Availability



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