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Chartway Federal Credit Union

Popular Accounts at this Credit Union

1.36%18-month CD18-23 Month CD
1.36%18-month IRA18-23 Month IRA (Traditional, Roth, CESA)
2.32%5-year CD60-71 Month CD

Overview / Commentary
5700 Cleveland St
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 the credit union's branches.
See current membership details

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My Experience with Chartway Federal Credit Union

My husband is active duty Navy, so we lived in Virginia Beach, VA for a little over two years. While living there, we wanted to get an account with a local bank or credit union. After doing some research, we decided to visit Chartway Federal Credit Union by the Lynnhaven Mall. Upon arriving, the customer service representatives greeted us and asked how they could help us. We told them that we wanted some information on their banking services, but that we would not be joining their credit union until we had a chance to compare to a few other places in person. They were still very helpful and friendly, and never tried to rush us even though they knew we would not be signing anything that day. After comparing them to a few other places, we both decided that Chartway Federal Credit Union was the best place for us. The customer service representative remembered us by name and greeted us as soon as we entered. We were able to sign up that day for a checking account, savings account, and we were given information for various lending services in case we would ever need one. We never had any issues with bogus charges or fees. Interest rates were always very competitive. We visited multiple branches while living in the area, and never had a bad experience. All of their employees are always knowledgeable, friendly, and helpful. The lines always move in a timely manner, even on popular paydays like the 1st, 15th, and Fridays. I love how professional this credit union is and was very upset when we moved to a new state that did not have Chartway Federal Credit Union branches. The fees are minimal compared to most other places so it is always disappointing when I see charges with our new credit union that I know that Chartway Federal Credit Union would not have charged me.

Family Oriented Banking

I have a savings and checking account with Chartway Federal Credit Union. The first thing I noticed when walking in for the first time is other customers talking to the bankers like family. They talked about kids, activities, and other while tying their needs for the reason you walk in the bank in the first place. When I inquired about opening a savings account, they set it up with ease. I like how transparent they are with the terms. Every other bank I went to seemed to pressure me into opening many type of accounts that I did not need. I only needed $5 to open a savings account, but I also decided to open up a checking account as well. The lady that helped me asked me what my financial situation was and broke down the best way to get a mortgage loan when I asked her, all before I officially signed up. She was very patient with my "dumb" questions and even gave me her personal cell for after hour calls. Chartway is the best banking experience I've had.

The online experience could use a little work however, but they have improved from when I first opened my account in 2013. The interface is a bit clunky, especially the member services section once you log in, but overall, it gets the job done.

Experience with Chartway Federal Credit Union

Several years ago, I used to bank with Chartway Federal Credit Union. Since I've switched banks, I've noticed that there isn't much difference between this bank and the commercial bank I'm with now. The fees were reasonable, as along as you didn't overdraft, I suppose. Every time, I would overdraft my checking account, there was a $30.00 fee. I remember one of the few times I did. I bought a $1.00 soda, which eventually cost me an extra 50.00. That's right. I overdraft by a dollar, and the bank charged me an overdraft fee of $30.00. As I stated, the fees are reasonable, if you watch your checking or savings account closely. Another ridiculous fee I remember was regarding debit transactions. For some reason, this bank charged $0.75 each time you completed a debit transaction. I didn't understand that. The commercial bank I'm with now doesn't do that nonsense. There is one relatively positive side with Chartway though. There wasn't a minimum balance fee, though. You could have $1.00 in there for a month, and there was no low balance fee. I liked that. The commercial Bank I'm with now charges a minimum balance fee, or low balance fee. Despite that, my experience with the commercial Bank is much better than with Chartway. ATMS are much easier to find with the commerical bank than Chartway. Just my 2 cents.

Banking with Chartway Federal Credit Union

A few years ago, I use to bank with Chartway Federal Credit Union. I was with them, I think for about 5 years. To me, this bank wasn't any different than a commercial bank. The service was average. I did have a few instances where the teller, or banker could've been nicer. For example, I think I asked the teller about a strange charge on my checking account. She seemed disinterested, and simply gave me a "I don't know." Although it was an honest answer coming from her, she could've done better. Perhaps, investigated the charge, directed me towards someone who had more information, and what not. She should've went above and beyond. It sets excellent customer service apart from bad customer service. Again, the customer service was not bad, just average.

The fees were not bad, just average. They would charge you $0.75, if you used a pin to make purchases with your debit card. The bank I'm with now doesn't do that--it's a large commercial bank by the way. Be careful with getting an overdraft protection on your checking account. They charged high fees for each transaction, that caused an overdraft. I was charged over 500.00 in overdraft fees. On the other hand, the checking account fees were decent. I had a student checking account, and there was no monthly maintenance fee. There were no minimum requirements set for this account either. bad, just average. That debit card charge was ridiculous, and the overdraft fees were out of this world.

Their online banking was excellent. They have a Google App that can be downloaded to your cell phone. It was very convenient for me. I could check my account anytime I needed.



Health Grade Components

NCUA #13242
Year Chartered1959
Primary Regulator
Profit Margin
Return on Assets - YTD0.32%
Return on Equity - YTD3.83%
Annual Interest Income$35.1MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$2.17B$2.14B
LoansQ2 2017vs Q2 2016$1.68B$1.68B
DepositsQ2 2017vs Q2 2016$1.96B$1.94B
Equity CapitalQ2 2017vs Q2 2016$182.5MM$173.8MM
Loan Loss AllowanceQ2 2017vs Q2 2016$17.6MM$17.1MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$13.3MM$14.0MM
Real Estate OwnedQ2 2017vs Q2 2016$476.00K$407.00K
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* 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

0.40%$100-IRA Share
0.15%$100-Prime Share
0.05%$100-Custom Share
0.05%$100-Business Prime Share

Chartway Federal Credit Union Money Market Rates

0.40%*$50k*-Money Market
OTHER TIERS: 0.15% $2,500 - $5k | 0.20% $5k - $25k | 0.30% $25k - $50k

Chartway Federal Credit Union Checking Account Rates

0.30%*$100k*-LifePlus Checking
OTHER TIERS: 0.10% $1,500 - $10k | 0.15% $10k - $50k | 0.20% $50k - $100k

Chartway Federal Credit Union CD Rates

2.32%*$25k*-60-71 Month CD
OTHER TIERS: 1.81% $500 - $10k | 1.96% $10k - $25k
1.81%*$25k*-48-59 Month CD
OTHER TIERS: 1.56% $500 - $10k | 1.71% $10k - $25k
1.81%$100$50060-71 Month Youth CD
1.66%*$25k*-36-47 Month CD
OTHER TIERS: 1.41% $500 - $10k | 1.56% $10k - $25k
1.61%*$25k*-24-35 Month CD
OTHER TIERS: 1.31% $500 - $10k | 1.46% $10k - $25k
1.56%$100$50048-59 Month Youth CD
1.41%$100$50036-47 Month Youth CD
1.36%*$25k*-18-23 Month CD
OTHER TIERS: 1.15% $500 - $10k | 1.31% $10k - $25k
1.31%$100$50024-35 Month Youth CD
1.26%*$25k*-12-17 Month CD
OTHER TIERS: 1.00% $500 - $10k | 1.15% $10k - $25k
1.15%$100$50018-23 Month Youth CD
1.00%$100$50012-17 Month Youth CD
0.70%*$10k*$25k6-11 Month CD
OTHER TIERS: 0.55% $500 - $10k
0.55%$100$5006-11 Month Youth CD
0.45%*$50k*-12 Month No Penalty CD
OTHER TIERS: 0.35% $500 - $10k | 0.40% $10k - $50k
0.30%$100$50012 Month No Penalty Youth CD

Chartway Federal Credit Union IRA Rates

2.32%*$25k*-60-71 Month IRA
OTHER TIERS: 1.81% $500 - $10k | 1.96% $10k - $25k
1.81%*$25k*-48-59 Month IRA
OTHER TIERS: 1.56% $500 - $10k | 1.71% $10k - $25k
1.66%*$25k*-36-47 Month IRA
OTHER TIERS: 1.41% $500 - $10k | 1.56% $10k - $25k
1.61%*$25k*-24-35 Month IRA
OTHER TIERS: 1.31% $500 - $10k | 1.46% $10k - $25k
1.36%*$25k*-18-23 Month IRA
OTHER TIERS: 1.15% $500 - $10k | 1.31% $10k - $25k
1.26%*$25k*-12-17 Month IRA
OTHER TIERS: 1.00% $500 - $10k | 1.15% $10k - $25k
0.70%*$10k*$25k6-11 Month IRA
OTHER TIERS: 0.55% $500 - $10k