|Founder||Seven civilian workers from the Norfolk Naval Air Station|
|Key People||Brian Schools (President and CEO)|
|Headquarters:||Virginia Beach, Virginia|
|☎ Telephone number:||1-800-678-8765|
|Number of employees:||104|
|Number of locations:||36 locations|
|ATM locator||Find here|
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Chartway Federal Credit Union: Introduction
Chartway Federal Credit Union appears to be a Virginia-based non-for-profit financial institution. This credit union was founded back in 1959 by 7 civilian workers at the Norfolk Naval Air Station – each of them invested $5.00. At that time, the purpose of the credit union was to provide cheap loans to military and civilian personnel, who were the members of the union. Also, their family members, as well as the employees of Chartway and their federal members were eligible for membership, too.
During its history, this credit union has incorporated several other credit unions. Besides, it was renamed to Naval Air Federal Credit Union in 1983 but later got its current name back. This credit union offers a wide array of financial products, including savings and checking accounts, loans, credit and debit cards, certificates of deposit, insurance, and mortgages.
Chartway Federal Credit Union Review
One of the most obvious advantages of the membership in this credit union is the low borrowing rate for loans and mortgages. Besides, Chartway also offers a wide arrange of financial products, also including insurance, CDs, credit and debit cards, and different types of bank accounts. Currently, there are 36 credit union locations in 4 American states.
However, Chartway services sometimes come with hefty fees. The overdraft fee is equal to $30, while a monthly account maintenance fee and an out-of-network ATM fee are $6 and $1 respectively. Besides, if you can’t qualify for membership, you will have to donate $10 to the We Promise Foundation. Currently, residents of the following counties/cities are eligible for membership:
- Utah: Washington, Salt Lake, Kane, Iron, Hiawatha, Garfield, Carbon, Beaver.
- Texas: Harris.
- Virginia: York, Williamsburg, Virginia Beach, Surry, Suffolk, Southampton, Portsmouth, Poquoson, Norfolk, Newport News, James City, Isle of Wight, Hampton, Franklin, Chesapeake.
- New Jersey: Union, Newark, Essex.
- Ohio: Cleveland.
- North Carolina: Washington, Tyrell, Perquimans, Pasquotank, Northampton, Martin, Hertford, Halifax, Currituck, Chowan, Camden, Bertie, Beaufort.
- Nevada: Mesquite, Bunkerville.
- Florida: Pinellas, Hillsborough.
- Arizona: Mohave, Coconino.
There are the following pros of this credit union:
- A wide arrange of financial products on offer.
- Available in several American states with numerous locations.
- Good customer service.
- A relatively low borrowing rate.
- The financial health state of this credit union is quite good.
Yet, the credit union has also the following cons:
- Higher-than-average fees (including a $6 monthly account maintenance fee).
- Only residents of certain counties are eligible for membership in this credit union.
In addition to this info about Chartway Federal Credit Union, our website also contains a helpful and useful guide to online banking with Chartway Federal. In order to have a look at it, please visit the Chartway Federal online banking page.