Virginia Beach, VA, September 30, 2008

Liz McNulty
Chartway Federal Credit Union
757-552-1000 x43699
cemcnulty@chartway.com

Over the course of several weeks, many Americans have grown concerned about how the crisis on Wall Street will affect their lives on Main Street. Our President and Senators have echoed the same sentiment—this could be the worst period in recent financial history since the Great Depression.

The CEO & President of Chartway Federal Credit Union Ron Burniske comments, “because we have always been concerned about Main Street—helping our members purchase homes, finance cars and pay for college tuitions—we never played the sub-prime lending game, which is precisely what has gotten many banks into trouble. Unlike many, we’re proud to say that Chartway Federal Credit Union is financially sound. Your deposits are safe and we have ample funds to continue making your dreams a reality, even in this time of uncertainty. Along with our 50 year tradition of responsible fiscal management and solid underwriting practices, your deposits are federally insured by the National Credit Union Administration (NCUA) up to $100,000.”

If you read the paper or watch the news it appears that people are afraid to borrow money from financial institutions. “If you need to borrow money, there’s no credit crunch at Chartway. We’ve got plenty of money to lend. Our credit card, auto and equity loan rates are highly competitive. If you’re a first-time homebuyer and want to buy a new home, Chartway offers a no-closing-costs, no-down-payment program.  We’ll even finance the full purchase price of your home without mortgage insurance” states Ron Burniske.   

If you’re worried about how to keep your money safe, no need to worry.  There are financial institutions like Chartway Federal Credit Union here to help you thought this troubling time. 

Chartway Federal Credit Union, chartered in 1959, is a not-for-profit financial institution headquartered in Virginia Beach, Va., with assets of more than $1.1 billion. Founded on the credit union philosophy of “People Helping People,” Chartway’s fundamental goal continues to be to enhance the lives and financial stability of close to 155,000 members. The organization provides services in Arkansas, Florida, Georgia, New Jersey, North Carolina, Ohio, Rhode Island, Texas, and Virginia. Chartway offers financial services including checking and savings accounts, loans, credit cards, online banking, insurance and investment counseling to members. For more information, visit www.chartway.com.