Chartway Federal Credit Union’s (Chartway FCU) has just added two promotional certificates for new members: 7-month CD (1.51% APY) and 11-month CD (1.76% APY).
The minimum opening deposit for either CD is $25K of new money, and there is a balance cap of $100K.
According to the fine print on the Share Rates page,
Existing members requesting the 7 & 11 month specials can qualify by adding a new loan, credit card, or checking w/direct deposit within 30 days of certificate opening, or by referring a new member.
As stated on Chartway FCU’s Disclosures page, the Early Withdrawal Penalty reads as follows:
The penalty for terms 0-17 months is 90 days of dividends, whether earned or not
Headquartered in Virginia Beach, Chartway Federal Credit Union offers membership through residency, employment, and family relationship.
Easy Membership: You can qualify for membership by joining Chartway FCU’s "We Promise Foundation" with a $10 donation. (Joining the "We Promise Foundation" is the fourth option listed on the online application.)
Residency: Anyone who lives, works, goes to school, or worships in an area served by a Chartway FCU branch is eligible for credit union membership.
Employment: Employees of the 750 companies who have chosen to offer Chartway FCU’s credit union benefits are eligible to join.
Relationship: Family members of current Chartway FCU members are also eligible to join.
Joining Chartway FCU can be done online or at any of 36 branches located in Florida, Georgia, North Carolina, Rhode Island, Texas (6), and Virginia (26). The vast majority of its branches are in the Norfolk/Virginia Beach metro area.
Through the acquisition of HeritageWest Credit Union, Chartway FCU has 17 branches located in Utah, which continue to operate under the HeritageWest name. HeritageWest Credit Union offers most of the same product line as Chartway FCU at the same rates.
Credit Union Overview
Chartway Federal Credit Union (NCUA Charter # 13242) has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 8.21% (excellent) based on June 30, 2015 data. In the past year, Chartway FCU increased its total deposits by $118.8 Million, an excellent annual growth rate of 6.93%. Please refer to our financial overview of Chartway Federal Credit Union for more details.
In September 1959, seven Norfolk Naval Air Station civilian employees each contributed $5 and the NorVA N.A.S. Federal Credit Union was founded. The original field of membership included both civilian and military personnel, and their family members. With an expanding field of membership and fewer ties to the military, the name was changed to Chartway Federal Credit Union in 1996. Today, Chartway FCU has over 180,300 members and assets in excess of $2 Billion.
How the CDs Compare
When compared to the 126 similar length-of-term CDs tracked by DepositAccounts.com available nationally, Chartway Federal Credit Union’s 7-Month Promotional CD currently ranks first, regardless of minimum deposit. (While USALLIANCE Financial’s 5-month CD Special has a higher APY of 3.05%, it has a balance cap of $25K.)
When compared to the 137 similar length-of-term CDs tracked by DepositAccounts.com available nationally, Chartway Federal Credit Union’s 11-Month Promotional CD currently ranks first, regardless of minimum deposit.
The above rates are accurate as of 12/4/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.