Virginia Beach, VA, February 24, 2009

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

Our nation’s credit unions have been thriving for over 100 years now. As Chartway marks its 50th year of service, we are proud to say that we continue to provide an effective and viable alternative to for-profit financial institutions—especially in these turbulent economic times. This is not to say that the credit union industry has not been impacted by this crisis.

There have been several credit unions, unfortunately, that have failed, and others that are struggling. But due to our commitment to fiscal conservatism and solid underwriting practices, Chartway has never been in danger of being among them. At Chartway, our Board, volunteers, management and staff have remained steadfast in our commitment to making our members our priority.

As the President and CEO of Chartway Federal Credit Union, I want to affirm what Chartway members already know: Chartway deposits are both safe and insured. At Chartway, we stand by our philosophy of “People Helping People,” in good times and in bad. Our organization is committed to protecting and securing our members’ financial future by continuing to offer the products and services that they need and deserve.

Despite this complex and challenging financial market, Chartway stands strong. We have plenty of money to lend. We continue helping members purchase homes, finance their cars, pay for college tuitions and prepare for retirement. It’s what we’ve been doing for 50 years and what we will be doing 50 years from now.

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.