Dec, 31, 2020 — CHARTWAY FEDERAL CREDIT UNION is a federal credit union headquartered in Virginia Beach, VA with 37 branch locations and about $2.38 billion in total assets. Opened 62 years ago in 1959, CHARTWAY FEDERAL CREDIT UNION has about 190,272 members and employs 534 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: | 37 branch locations |
| Members: | 190,272 |
| 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: | $2,383,470,787 |
| CEO/Manager: | Brian T Schools |
| Chairperson: | George Sauer |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 358,458,321 |
| TOTAL INVESTMENTS | 224,817,320 |
| Loans Held for Sale | 11,941,036 |
| Real Estate Loans | 298,887,261 |
| Unsecured Loans | 140,043,478 |
| Other Loans | 1,077,130,509 |
| TOTAL LOANS | 1,564,482,719 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -20,869,572 |
| Land And Building | 39,215,301 |
| Other Fixed Assets | 13,170,649 |
| NCUSIF Deposit | 20,062,871 |
| All Other Assets | 172,192,142 |
| TOTAL ASSETS | 2,383,470,787 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 14,576 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 23,802,387 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 561,624,393 |
| Regular shares | 652,227,466 |
| All Other Shares & Deposits | 931,560,462 |
| TOTAL SHARES & DEPOSITS | 2,145,412,321 |
| TOTAL LIABILITIES | 2,169,229,284 |
| Regular Reserve | 18,529,735 |
| Other Reserves | 25,675,022 |
| Undivided Earnings | 170,036,746 |
| TOTAL EQUITY | 214,241,503 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,383,470,787 |
| INCOME & EXPENSE | |
| Loan Income | 72,636,415 |
| Investment Income | 3,343,549 |
| Other Income | 22,831,417 |
| Total Employee Compensation & Benefits | 36,740,249 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 38,368,929 |
| Non-operating Income & (Expense) | 7,911,949 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,047,492 |
| Cost of Funds | 13,536,271 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,030,389 |
| ↑ Back to Top | |