Question 1

What is Cha-Tel Federal Credit Union (Cha-Tel FCU)?

Accepted Answer

Cha-Tel Federal Credit Union (Cha-Tel FCU) is a federal credit union based in Charleston, West Virginia, serving over 3,000 employees and retirees of telecommunications and related industries. With approximately $11 million in assets and over 1,200 members, this low-income designated credit union was established to serve employees of Frontier, Verizon, AT&T and their subsidiaries, Life Bridge of Kanawha Valley and its subsidiaries, Pinkerton/Burns Security, AVI Food Systems, and Fibernet who work in Kanawha, Putnam, Clay, Boone, and Lincoln counties, as well as their family members and credit union employees.

Question 2

When was Cha-Tel Federal Credit Union (Cha-Tel FCU) founded?

Accepted Answer

Cha-Tel Federal Credit Union was chartered as a federal credit union to serve telecommunications industry workers in the Charleston area of West Virginia. The credit union was established to provide financial services specifically for employees of telephone companies and related telecommunications businesses, along with several other select employer groups in the region.

Question 3

Where is Cha-Tel Federal Credit Union (Cha-Tel FCU) headquartered?

Accepted Answer

Cha-Tel Federal Credit Union is headquartered at 1500 Maccorkle Avenue in Charleston, West Virginia. The credit union office is conveniently located in the Frontier building.

Question 4

Where does Cha-Tel Federal Credit Union (Cha-Tel FCU) operate?

Accepted Answer

Cha-Tel Federal Credit Union operates from its single location in Charleston, serving members across Kanawha, Putnam, Clay, Boone, and Lincoln counties in West Virginia. The credit union serves employees and retirees of telecommunications companies including Frontier, Verizon, and AT&T, as well as select employer groups throughout the five-county service area. Membership extends to family members of eligible employees and retirees.

Question 5

What services does Cha-Tel Federal Credit Union (Cha-Tel FCU) offer?

Accepted Answer

Cha-Tel Federal Credit Union provides a full array of financial services including savings accounts (share accounts), checking accounts, and certificate accounts for building savings. Lending services encompass auto loans, personal loans, and share secured loans to meet various member financing needs. The credit union offers digital banking services including online account access and mobile banking for convenient account management. Additional services include direct deposit, payroll deduction for loan payments, electronic funds transfers, and account monitoring capabilities. Members can access their accounts and conduct transactions 24/7 through digital channels.

Question 6

What makes Cha-Tel Federal Credit Union (Cha-Tel FCU) unique?

Accepted Answer

Cha-Tel Federal Credit Union is distinguished by its specialized focus on serving telecommunications industry workers and select employer groups in the Charleston area. As a member-owned, not-for-profit financial institution, the credit union returns profits to members in the form of lower loan rates and competitive dividend rates on savings. The credit union emphasizes democratic governance, with all members invited to participate in annual meetings where they vote to elect the Board of Directors. This ensures members have a voice in the direction and policies of their credit union. The low-income designation reflects the credit union's commitment to serving economically disadvantaged populations within its field of membership.

Question 7

What type of financial institution is Cha-Tel Federal Credit Union (Cha-Tel FCU)?

Accepted Answer

Cha-Tel Federal Credit Union is a federal credit union chartered and regulated by the National Credit Union Administration (NCUA). It operates as a member-owned cooperative financial institution on a not-for-profit basis with a low-income designation. Membership is restricted to employees and retirees of specific telecommunications companies and select employers in Kanawha, Putnam, Clay, Boone, and Lincoln counties in West Virginia, as well as their family members and credit union staff. The credit union is governed by a Board of Directors elected by the membership. All deposits are federally insured up to $250,000 by the NCUA.

Question 8

What is the governance structure of Cha-Tel Federal Credit Union (Cha-Tel FCU)?

Accepted Answer

Cha-Tel Federal Credit Union operates under democratic member governance where all members have equal voting rights regardless of their account balance. The credit union holds annual meetings where members can vote to fill positions on the Board of Directors. The Board of Directors, along with the credit union manager, governs operations and sets strategic direction for the institution. This structure ensures that the credit union remains accountable to its membership and operates in the best interests of all members. The ongoing commitment is to provide products and services that meet the evolving financial needs of the telecommunications worker community and other eligible member groups.

Cha-Tel Federal Credit Union (Cha-Tel FCU)

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About Cha-Tel Federal Credit Union (Cha-Tel FCU) in the United States