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CHARTWAY FEDERAL CREDIT UNION

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.


ABA Routing Number: 251481614
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

Call Report

  • Commercial Loans
  • Credit Builder
  • Debt Cancellation/Suspension
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • In-School Branches
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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
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