Mar, 31, 2021 — CHARTWAY FEDERAL CREDIT UNION is a federal credit union headquartered in Virginia Beach, VA with 40 branch locations and about $2.50 billion in total assets. Opened 62 years ago in 1959, CHARTWAY FEDERAL CREDIT UNION has about 190,499 members and employs 530 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CHARTWAY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 5700 Cleveland St Virginia Beach, VA 23462-1752 |
| Phone: | (757) 552-1000 |
| Fax: | (757) 497-0158 |
| Website: | https://www.chartway.com |
| Branches: | 40 branch locations |
| Members: | 190,499 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13242 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,499,363,220 |
| CEO/Manager: | Brian T Schools |
| Chairperson: | George Sauer |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 371,068,190 |
| TOTAL INVESTMENTS | 243,505,250 |
| Loans Held for Sale | 3,520,167 |
| Real Estate Loans | 299,964,345 |
| Unsecured Loans | 130,920,004 |
| Other Loans | 1,184,684,645 |
| TOTAL LOANS | 1,659,317,875 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -21,099,155 |
| Land And Building | 39,807,526 |
| Other Fixed Assets | 10,801,337 |
| NCUSIF Deposit | 20,062,871 |
| All Other Assets | 172,379,159 |
| TOTAL ASSETS | 2,499,363,220 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 25,039,410 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 615,562,108 |
| Regular shares | 721,135,144 |
| All Other Shares & Deposits | 921,944,677 |
| TOTAL SHARES & DEPOSITS | 2,258,641,929 |
| TOTAL LIABILITIES | 2,283,681,339 |
| Regular Reserve | 18,529,735 |
| Other Reserves | 24,568,206 |
| Undivided Earnings | 172,583,940 |
| TOTAL EQUITY | 215,681,881 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,499,363,220 |
| INCOME & EXPENSE | |
| Loan Income | 16,462,409 |
| Investment Income | 949,143 |
| Other Income | 2,840,521 |
| Total Employee Compensation & Benefits | 9,217,193 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,943,107 |
| Non-operating Income & (Expense) | 1,575,838 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,229,706 |
| Cost of Funds | 2,047,038 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,547,194 |
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