Jun, 30, 2024 — CHARTWAY FEDERAL CREDIT UNION is a federal credit union headquartered in VIRGINIA BEACH, VA with 39 branch locations and about $2.72 billion in total assets. Opened 65 years ago in 1959, CHARTWAY FEDERAL CREDIT UNION has about 203,894 members and employs 562 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: | 39 branch locations |
| Members: | 203,894 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,724,719,564 |
| CEO/Manager: | Brian T Schools |
| Chairperson: | Nancy McMahon |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 130,655,085 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 288,009,644 |
| Unsecured Loans | 291,835,059 |
| Other Loans | 1,505,412,239 |
| TOTAL LOANS | 2,085,256,942 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -18,004,372 |
| Land And Building | 36,702,171 |
| Other Fixed Assets | 13,124,356 |
| NCUSIF Deposit | 21,646,297 |
| All Other Assets | 1,249,489 |
| TOTAL ASSETS | 2,724,719,564 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 100,000,000 |
| Accounts Payable & Other Liabilities | 39,828,477 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 609,270,322 |
| Regular shares | 800,344,111 |
| All Other Shares & Deposits | 957,767,225 |
| TOTAL SHARES & DEPOSITS | 2,367,381,658 |
| TOTAL LIABILITIES | 2,507,210,135 |
| Regular Reserve | 0 |
| Other Reserves | 9,399,434 |
| Undivided Earnings | 208,109,995 |
| TOTAL EQUITY | 217,509,429 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,724,719,564 |
| INCOME & EXPENSE | |
| Loan Income | 55,487,732 |
| Investment Income | 3,788,464 |
| Other Income | 10,269,529 |
| Total Employee Compensation & Benefits | 30,596,997 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 35,657,326 |
| Non-operating Income & (Expense) | 1,264,429 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,704,936 |
| Cost of Funds | 5,537,663 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,412,115 |
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