Virginia Beach, VA, April , 2008

Press Contact:
Liz McNulty
Chartway Federal Credit Union    
757-551-1000 x43699        
cemcnulty@chartway.com

In an effort to help southeastern Virginia communities affected by the recent tornados, Chartway Federal Credit Union will be more flexible than ever for loan applicants affected by the storms that hit the region Monday afternoon. “We understand that cash flow is imperative for victims at a time like this, and sometimes federal funding just doesn’t come fast enough,” says Chartway President and CEO Ron Burniske.

Chartway will evaluate each loan request on a case-by-case basis, and will be especially flexible on the dollar amount, term, and payment due date of those loans. The Credit Union will also offer the option of waiving initial loan payments without a penalty fee, so that victims can get back on their feet financially while waiting for federal funding and insurance checks to come in.

Mr. Burniske explains that this leniency applies to all types of loans, both long- and short-term. “These people potentially lost everything they owned in a matter of seconds. We will try to help them regardless of their need. Maybe they lost their car, so we’ll work with them on an auto loan. Maybe their house got torn apart, so we’ll help them with a home improvement loan. If they simply need money for food or rent, we can help them with that, too. It’s about us pitching in to help, as part of this community.”

Chartway.com is open 24 hours a day, 7 days a week, to take loan requests. Storm victims can also stop by any Chartway branch or call 800.678.8765.

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 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 its 156,000 members.  The organization provides services in 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.