Chartway Federal Credit Union

Last updated

Chartway Credit Union
Company type Credit union
Industry Financial services
Founded1959
Headquarters Virginia Beach, Virginia, United States
Number of locations
33 [1]
Area served
Virginia, Utah, and Texas
Key people
Brian Schools, President & CEO
Melinda Barbish (Chair)
Products Savings; Checking; Loans; Mortgages; Credit cards; Certificates; Insurance; online banking
Total assets $3.1 Billion USD (May 2025) [2]
Members260,000 (July 2025)
Number of employees
500+
Subsidiaries Chartway Promise Foundation
Chartway Ventures (CUSO) [3]
Website chartway.com

Chartway Credit Union is a credit union headquartered in Virginia Beach and is chartered and regulated under the authority of the National Credit Union Administration (NCUA). Chartway serves more than 260,000 members throughout Texas, Utah, and Virginia. [4]

Contents

History

On September 4, 1959, seven civilian workers at the Norfolk Naval Air Station each invested $5.00 and incorporated NorVA N.A.S. Federal Credit Union. In October 1959, the organization that would later become Chartway Federal Credit Union was chartered. [5] Its field of membership included civilian and military personnel, along with their family members. The charter also extended to employees of the credit union and their families.

In January 1965, NorVA N.A.S. reached its first milestone of $1 million in assets and over 3,000 members. In 1969, the credit union had an opportunity to further expand with the passage of government legislation that allowed credit unions to change its charters. Under the new legislation, members became eligible for lifetime membership even if they left the qualifying field of membership. Because of this, the credit union was able to retain its members and open its membership to retired Navy department civilians. In April 1972, the credit union changed its name to the Naval Air Norfolk Federal Credit Union. It also merged with Radron Credit Union to expand its field of membership to include the Cape Charles Air Force Station and anyone in the military who used either base.

In March 1983, the credit union changed its name again to Naval Air Federal Credit Union. In 1996, the credit union became Chartway Federal Credit Union. Because there were branches in many different states and a much broader field of membership.

In 2010, HeritageWest Credit Union and SouthWest Community Credit Union joined Chartway and Utah Central Credit Union became part of the organization in 2011.

In 2019, Port Alliance FCU merged with Chartway. [6] In 2020, Saint Matthews FCU merged with Chartway. [7]

Membership

Chartway serves members in branches in Virginia, Utah, and Texas. Prospective members may also join the credit union with a $10 donation to its charitable arm, the Chartway Promise Foundation.

Charitable contributions

Since its inception in 2005, Chartway’s charitable arm—the Chartway Promise Foundation—has granted $16 million to help provide medically fragile children and their families with memorable experiences [8]

Employees

As of July 2025, the credit union had over 500+ employees in Virginia, Utah, and Texas. [9]

Awards

Chartway Credit Union has received the following awards and honors:

References

  1. ↑ "2025 Chartway at a Glance". www.online.fliphtml5.com. Retrieved August 1, 2025.
  2. ↑ "Statement of Financial Condition as of May 31, 2025" (PDF). www.chartway.com. Retrieved August 1, 2025.
  3. ↑ "Chartway Ventures Welcomes Jennifer Addabbo and Samantha Paxson to Board". www.creditunions.com. Retrieved August 1, 2025.
  4. ↑ "About Chartway Credit Union - Chartway". www.chartway.com. Retrieved August 1, 2025.
  5. ↑ Schwartz, Michael (December 23, 2009). "ANNIVERSARY Chartway Federal Credit Union – 50 years". The Virginian-Pilot . Retrieved July 16, 2023.
  6. ↑ "Chartway FCU Completes Merger with PortAlliance". www.cutoday.info. Retrieved August 1, 2025.
  7. ↑ "Small Virginia Beach credit union to merge into Chartway FCU". www.americanbanker.com. Retrieved August 1, 2025.
  8. ↑ "Chartway Promise Foundation marks 20 years of helping Promise Heroes with record $1.1M in charitable grants". /www.cuinsight.com. Retrieved August 5, 2025.
  9. ↑ "Top Workplaces - Chartway Credit Union". www.topworkplaces.com. Retrieved August 1, 2025.
  10. ↑ "Chartway CU Receives Juntos Avanzamos Designation". www.cutimes.com. Retrieved August 1, 2025.
  11. ↑ "Chartway wins CUNA Diamond Awards across three categories". www.cuinsight.com. Retrieved August 1, 2025.
  12. ↑ "Best Credit Unions to Work For with more than $1B of assets in 2024". www.americanbanker.com. Retrieved August 1, 2025.
  13. ↑ "Chartway wins 5th top workplaces industry award for financial services". www.cuinsight.com. Retrieved August 1, 2025.
  14. ↑ "Chartway Credit Union Named 2025 Diamond Awards Recipient Amid Record-Breaking Competition". www.thecreditunionconnection.com. Retrieved August 1, 2025.
  15. ↑ "Chartway included in the Forbes list of America's Best-In-State Credit Unions 2025 for fourth consecutive year". www.cuinsight.com. Retrieved August 1, 2025.
  16. ↑ "Top Workplaces - Chartway Credit Union". topworkplaces.com. Retrieved August 1, 2025.
Bibliography
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