Virginia Beach, VA, February 2, 2009

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

Chartway Federal Credit Union, a billion-dollar financial institution in its 50th year, announces that as of February 1st it will be accepting applications for the 2009 Directors’ Memorial Scholarship.
 
Chartway President and CEO Ron Burniske offers, “Established in memory of Directors who contributed so much to the success of the Credit Union, these scholarships are a direct reflection of the philosophy of Chartway: People Helping People.”

Now in its 20th year, the Directors’ Memorial Scholarship program has historically awarded seven $1,500 scholarships annually, but in 2008 the number of scholarships awarded was increased to nine, then to ten in 2009. The scholarships are awarded to deserving students pursuing graduate or undergraduate degrees, or those returning to complete their degrees at a college or graduate school. Recipients are selected on the basis of financial need, activities, academic performance, an essay, and letter of reference.

Applicants must have their own account or be the joint owner of an account in good standing, before submitting an application. The scholarship application package can be obtained at any Chartway Federal Credit Union branch, and is due no later than March 31st. Decisions will be made by a selection committee by May 1st and recipients will be notified by May 15th.

The Director’s Memorial Scholarship program was created in 1989 by the Chartway Board of Directors in recognition of the Credit Union’s then-30 years of success. Since the program’s inception, Chartway has given more than $90,000 in student scholarships to its members.

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.