Chartway Federal Credit Union

Overview / Commentary
5700 Cleveland Street
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

Chartway Federal Credit Union Adds Rate-Leading 23-Month Promo CD - 7/21/2023

Chartway Federal Credit Union (easy membership) has added a very competitive 23-month Promo CD. $500 minimum deposit of new money, with no balance cap.

Chartway Federal Credit Union Adds Rate-Leading 19-Month Promo CD - 9/26/2022

Chartway Federal Credit Union (easy membership) has added a very competitive 19-month Promo CD. $500 minimum deposit of new money, with no balance cap.

View all posts from:

8/6/18 - Chartway Federal Credit Union Ups 12-Month No Penalty CD
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
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)

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

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.

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

Posted by: |

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.



Health Grade Components

NCUA #13242
Year Chartered1959
Primary Regulator
Profit Margin
Return on Assets - YTD0.86%
Return on Equity - YTD10.47%
Annual Interest Income$55.5MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$2.73B$2.61B
LoansQ2 2023vs Q2 2022$2.30B$1.94B
DepositsQ2 2023vs Q2 2022$2.42B$2.36B
Equity CapitalQ2 2023vs Q2 2022$220.8MM$219.3MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$18.1MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$23.0MM$14.3MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0
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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

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

3.00%*$1m*-Money Market Plus w/Checking
OTHER TIERS: 2.00% $100k - $500k | 2.25% $500k - $1m
0.60%*$50k*$100kMoney Market
OTHER TIERS: 0.25% $2.5k - $5k | 0.35% $100k+ | 0.40% $5k - $10k | 0.50% $10k - $25k | 0.55% $25k - $50k

Chartway Federal Credit Union Checking Account Rates

4.00%*-$15kHigh-Yield Checking
OTHER TIERS: 0.05% $15k+
0.05%*$10k*-LifePlus Checking
OTHER TIERS: 0.02% $1.5k - $10k

Chartway Federal Credit Union CD Rates

5.30%$500-13 Month Promo Share Certificate - New Money
5.30%$500-23 Month Promo Share Certificate - New Money
5.30%$100-23 Month Promo Share Certificate - Youth - New Money
5.30%$100-13 Month Promo Share Certificate - Youth - New Money
3.50%$500-12 Month No Penalty Share Certificate
3.50%$100-12 Month No Penalty Youth Share Certificate
2.35%$500-12-17 Month Share Certificate
2.25%$500-24-35 Month Share Certificate
2.15%$500-36-47 Month Share Certificate
2.15%$500-60-71 Month Share Certificate
2.15%$500-48-59 Month Share Certificate
1.75%$500-18-23 Month Share Certificate
1.40%$500-6-11 Month Share Certificate

Chartway Federal Credit Union IRA Rates

2.75%$500-24-35 Month IRA
2.75%$500-36-47 Month IRA
2.75%$500-60-71 Month IRA
2.75%$500-48-59 Month IRA
2.50%$500-12-17 Month IRA
2.50%$500-18-23 Month IRA
0.70%$500-6-11 Month IRA


Norfolk Area

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