Question 1

What is Chartway Credit Union?

Accepted Answer

Chartway Credit Union is a federally chartered credit union headquartered in Virginia Beach, Virginia. With over $3.2 billion in assets and serving more than 270,000 members across Virginia, Utah, and Texas, Chartway is one of the largest credit unions in its operating regions.

The credit union focuses on providing comprehensive financial services to individuals, families, and businesses while maintaining a strong commitment to community engagement through its charitable arm, the Chartway Promise Foundation. Chartway operates as a not-for-profit, member-owned cooperative financial institution.

Question 2

When was Chartway Credit Union founded?

Accepted Answer

Chartway Credit Union was founded on September 4, 1959, when seven civilian workers at the Norfolk Naval Air Station each invested $5 and incorporated NorVA N.A.S. Federal Credit Union. The credit union was officially chartered in October 1959.

The credit union's original purpose was to provide low-cost loans and serve as a convenient place for military personnel, civilian workers, and their families to save and grow their finances. Throughout its history, the credit union has undergone several name changes: Naval Air Norfolk Federal Credit Union (1972), Naval Air Federal Credit Union (1983), and finally Chartway Federal Credit Union (1996) to reflect its broader geographic reach and expanded membership base.

The credit union has grown through strategic mergers, including HeritageWest Credit Union and SouthWest Community Credit Union (2010), Utah Central Credit Union (2011), Port Alliance FCU (2019), and Saint Matthews FCU (2020).

Question 3

Where is Chartway Credit Union headquartered?

Accepted Answer

Chartway Credit Union is headquartered at 5700 Cleveland Street in Virginia Beach, Virginia.

Question 4

Where does Chartway Credit Union operate?

Accepted Answer

Chartway Credit Union operates across three states: Virginia, Utah, and Texas. The credit union maintains approximately 18 branches in Virginia, 13 branches in Utah, and 2 branches in Texas, totaling 33 branch locations.

Membership is open to individuals in these service areas. Prospective members can also join by making a $10 donation to the Chartway Promise Foundation, making membership accessible to anyone who wishes to join regardless of geographic location or employment affiliation.

Question 5

What services does Chartway Credit Union offer?

Accepted Answer

Chartway Credit Union offers a comprehensive suite of financial products and services including:

Deposit Accounts: Share accounts (savings), checking accounts, and certificates of deposit.

Lending Products: Personal loans, auto loans, boat and RV loans, home equity loans, mortgages, and credit cards. In 2024, the credit union expanded to offer business lending solutions for small businesses and entrepreneurs.

Business Banking: Cash management, merchant services, online wire transfers, business checking accounts, and various lending solutions designed for small businesses at every stage of growth.

Digital Banking: Online banking platform and mobile banking app featuring account management, mobile deposit, bill pay, person-to-person payments, account transfers, debit card controls, travel notifications, and free credit score monitoring with educational resources.

Wealth Management: Access to financial professionals for retirement planning and investment guidance.

Additional Services: Interactive Teller Machines (ITMs) with video teller capabilities, eStatements, and personal financial management tools.

Question 6

What makes Chartway Credit Union unique?

Accepted Answer

Chartway Credit Union distinguishes itself through its "People First" philosophy and exceptional community commitment. The credit union operates the Chartway Promise Foundation, an award-winning charitable arm that has raised nearly $16 million to provide memorable experiences for medically fragile children and their families.

The credit union has invested over $10 million in branch expansion and modernization initiatives, creating welcoming spaces with advanced technology including 50 Interactive Teller Machines (ITMs) that can reduce wait times by up to 50 percent. Chartway maintains six Juntos Avanzamos-designated branches offering fully bilingual services and specialized financial resources for Hispanic and immigrant communities.

Chartway has received numerous accolades including recognition by Forbes as one of America's Best-In-State Credit Unions, American Banker's Best Credit Union to Work For, USA Today's Top Workplaces Industry Award for Financial Services, and multiple CUNA Diamond Awards. The credit union's team has collectively volunteered over 1,500 hours annually and awarded $45,000 in scholarships to deserving students.

Question 7

What type of financial institution is Chartway Credit Union?

Accepted Answer

Chartway Credit Union is a federal credit union chartered and regulated under the authority of the National Credit Union Administration (NCUA). As a federally insured credit union, member deposits are protected up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF).

As a member-owned cooperative, Chartway operates under a not-for-profit structure where members are also owners. This cooperative model allows the credit union to return profits to members through competitive loan rates, lower fees, higher dividend rates on deposits, and enhanced services. The credit union is governed by a member-elected board of directors who oversee strategic decisions with members' best interests as the priority.

Unlike traditional banks that serve shareholders, Chartway's primary obligation is to serve its member-owners and the communities in which they live and work.

Chartway Credit Union

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About Chartway Credit Union in the United States