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
9/28 - New Certificate
7/21 - Chartway Federal Credit Union Adds Rate-Leading 23-Month Promo CD
4/5 - Chartway Federal Credit Union Hikes 12-Month No Penalty CD Rate
1/10 - 12 Month No Penalty CD Up To 2.15% APY
8/4/18 - 12 Month No Penalty CD 2% APY
12/4/15 - Chartway FCU Has Two Competitive Rate Short-Term CD Specials
11/20/15 - Chartway FCU Ups Rate On 18-23 Month CD
7/20/15 - Chartway FCU Raises Rate on 60-71 Month Web-Only CD
2/26/15 - Chartway FCU's 1.31% APY CD Tops 12 Month List.
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
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)
Awesome And Thanks
Just did my Second mortgage with this Outstanding Financial Institution , They matched everything Navy Federal had to offer, shout out to a very helpful individual:
Jonathan Mensink Assistant Branch Manager Holland Road.
Christopher R Colbert
Chartway FCU
If you have a Chartway CD mature, be sure to check that you have the correct amount at maturity. I gave Chartway notice 3 days before maturity that I wanted the proceeds of the CD moved into my share account so I could take it out and move the money elsewhere since Chartway's rates at this time were not so good. Imagine my surprise when I found that only1/10 of the amount of the CD had been moved. When I questioned this, after a long wait on the phone, I was told that the rest of the money was being moved to my share acct. What a surprise - when I found that nearly $1000 had been taken out. I was short about $1000. When I inquired, I was told that both errors were "systems errors". It was finally resolved by a very good and attentive customer service rep, but the fact that it happened at all I found very disturbing. So keep a close watch on your account here.
Also, although when I first went on the online account I could see the history and how much money I should have had, after the transfer to the share account, all the history vanished - so print out your history!
AVOID! Read! Fees! Hard Pull For EACH CD Even For Current Members
I'm a member of over a dozen credit unions and I've NEVER experienced a worse place than Chartway. Be sure to READ THIS before you join them.
(1) FEES: Chartway requires you to have at least TWO types of accounts with them to avoid Fees, so you can't just have the savings account. When your CD matures you must immediately open up another one (or another type of account) to avoid this fee (one of many at Chartway).
(2) Hard Pull for EVERY CD -- even for existing members. Yes. You read right. Even if you have a CD with them already, if you want to open up another CD, you are treated as if you aren't a member, and a new Hard Pull is required. Otherwise you won't be allowed to open another CD.
(3) Not only that... Even for Current Members: EACH time you want to open a CD, not only do they do a New Hard Pull, but they will have to determine if you are "Approved" to have another CD with them. Yes, again you read right. As a member for 5 years who already had a CD with them, I was at first denied to open a 2nd small ($7k) CD with them. Had to appeal the decision for them to (finally) let me open a 2nd CD. Unbelievable.
(4) Hands down the worst CSR experience you will EVER have with any financial institution. Every place makes occasional mistakes and has problems. Trust me that your jaw will drop with the weeks and weeks you will waste in the unsuccessful attempt to just get one small thing done. Over and over. Each and every time. Every single time. Not an exaggeration.
Usually a good idea to stay with credit unions in case they have good deals in the future, even if you don't have anything but a savings account. NOT WITH CHARTWAY. (Remember their requirement to have a 2nd Account Type with them to avoid Fees). I don't want yet another Hard Pull, and no matter how good the rate, I never, ever want to interact with this outfit ever again. The DAY my CD matures I will immediately close my account -- and this is coming from someone who belongs to more than a dozen credit unions and usually stays with them just in case there's a good future deal.
You may not believe this review. But if you choose not to and you join them, you will be writing a review like this soon enough afterwards, trying to help others stop from making a bad decision.
You've been warned.
Chartway 13 Month Promo
Current as ot 9/1/24. Chartway 13 Month Promo Certificate is dropped from 5.10% to 4.85%.
DO NOT JOIN FOR A CD! I Left This Credit Union They Were So Bad
RUN AWAY NOW. You do NOT want this place for CDs.
Seeing the other reviews of Chartway it seems I'm not the only one who LEFT them after joining them. DO NOT JOIN THEM for a CD, you will be forced to send all your IDs and have a hard credit check done again for each and every time you open a CD, if it's your first, your second, your 4th, whatever. NO WAY. Others have posted on this, and I verified it with multiple CSRs who confirmed it. It's the reason I left them.
I had just as many problems as others (though at least I wasn't rejected for CDs like others were). Still, customer service is terrible. Just like others, they screwed up my simple CD opening and it had to be redone.
Once your CD matures you'll incur a fee for having only a savings account. You can get around this by keeping a few hundred dollars in it (at virtually zero interest, which I don't want) or opening a 2nd savings account. Except opening a 2nd savings accout, just like opening another CD, requires sending all your IDs again and another hard credit check! Dinging your credit score. NOT WORTH IT.
When my one cd with them matured I called multiple times and verified this: it does not matter if you are a member. Any new product opened, from a new savings account, to a second CD to whatever, you are treated as a stranger. You must send in all copies of IDs to provde your identity - - again - - each time - - doesn't matter how long you've been a member. That's bad enough. But then you must undergo another hard credit check - - again - - each time - - doesn't matter how long you've been a member. When I asked which agency to unfreeze I was told I must unfreeze all 3 as they can use any of the 3 major ones.
I couldn't believe it so called back multiple times, and made sure I was speaking to the right department. And on a recorded line the csr agents seemed stunned that I would question having to send IDs and do another hard credit check for simply just another cd even though I'm a member. I said it wasn't for a loan, just for another deposit product, but the agents said nope, it's required. One lady seemed absolutely indignant and said "sir, it's only obvious. It doesn't matter if you're already a member, you're asking for a new account. A new CD is a new account. A new savings account is a new account. Of course we need your IDs and to run your credit again for any new account."
That was it. Like others, I left them. What good is staying with a place when they charge you a fee if you don't have any other products but to get those products you not only have to do the whole application process as a stranger again with IDs and everything, but get a bad ding on your credit report each time you want to open a CD? NOT WORTH IT.
Ironically, leaving them was the ONLY thing that went off without a problem. I got my few dollars back in the mail but of course even that had misinformation. The csr lady informed me that in about a month I would get a final statement after closing my account, and it would come in the us mail because my online account had already been deactivated. Of course that's not what happened. In typical chartway fashion, I got nothing in the US mail. Instead, I got a email saying I had an e-statement waiting for me online for my account. I was able to log in, but as soon as I tried to read the statement, I got the message that I cannot view e-statements because I have no accounts now. Typical. Thankfully I am now DONE with them.
But do not be fooled like I was. Even a 10% rate would not get me to go back to this piece of trash outfit.
Phone # Prompt 5 Gets You Immediately Cut Off
Called twice to join, hit prompt 5, immediately disconnected. I took the second time as a sign from God.
Astonishingly Bad
Possibly the worst band I have dealt with. I did a referral bonus and was a literally an absolute nightmare, they tried to screw me on every turn. After 9 individual callsbeing told something different each time and weeks of waiting. I finally get told that I can basically screw off, and eventually decided to close my 4 accounts with them. This bank like most don’t really care about you but they strive to set an all new low. They set the bar so low that its a tripping hazard in hell.
Off Its Meds
Update: a few days later emailed me an invitation to apply for the promotion! Not fooling me again!
Prior week: Entered the start of basic membership fields. Not allowed to proceed to Chex Systems questions before being told I am not eligible for this promotion (still being advertised as open nationwide.) No reason given.
Have excellent financials and was accepted the day before into another CU using same identification. Retired bank/credit union regulator so I know how to apply to a financial institution!
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 13242 |
| Year Chartered | 1959 |
| Employees | 557 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.6% |
| Return on Equity - YTD | 7.41% |
| Annual Interest Income | $76.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $2.96B$2.73B |
| Loans | Q2 2024vs Q2 2023 | $2.32B$2.3B |
| Deposits | Q2 2024vs Q2 2023 | $2.67B$2.42B |
| Equity Capital | Q2 2024vs Q2 2023 | $238.2MM$220.8MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $31.9MM$30MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $35.3MM$23MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |
