Virginia Beach, VA (July 16, 2020) – Following approval from the National Credit Union Administration and the Virginia Bureau of Financial Institutions, Chartway Federal Credit Union (Chartway) is pleased to announce that a July 31, 2020, merger is planned with Cadmus Credit Union (Cadmus). Together, the $2.3 billion credit union will have a membership base of 190,000, more than 30 branches, and a full slate of online, mobile, video, and telephone banking services.
The merger follows an announcement by Cenveo Worldwide Ltd. to permanently close its Cadmus printing facility in Richmond, VA, due to the unforeseen business circumstances caused by the COVID-19 pandemic. The branch located within that building will be required to close when Cadmus vacates its Byrdhill Road facility on July 31, 2020.
Cadmus members will benefit from Chartway’s expansive branch and Direct Teller/ATM network, access to affordable products and services, highly competitive rates, fewer fees, a 24/7 Member Solutions Center, and a full slate of online, mobile, video, and telephone banking services, including mobile deposit, mobile bill pay, and digital wallets.
“At Chartway, we’re dedicated to supporting our team, members, and communities,” said Brian Schools, president & CEO of Chartway Federal Credit Union. “For that reason, we look forward to welcoming Cadmus Credit Union members following the planned merger.”
Current Cadmus Credit Union manager/CEO, Jim Winkler, agreed. “Our members will greatly benefit from Chartway’s strong cultural commitment to serving people and making life more affordable. They are a natural cultural, financial, and strategic partner, and our members will benefit from additional products and services, and greater account access through Chartway’s online, mobile, and video banking services, a 24/7 Member Solutions Center, and more.”
Current Cadmus members will be receiving additional information about the merger shortly. In the meantime, members may call (877) 589-4207 with any questions.
ABOUT CADMUS CREDIT UNION
Cadmus Credit Union is a member-owned, nonprofit financial organization that was organized in 1951 by employees of William Byrd Press, Inc. We provide our members financial services and education through a strong and growing credit union.
Chartway Federal Credit Union, a not-for-profit, member-owned financial institution, has been proudly serving members for more than half a century. Guided by its Purpose and Values, the $2.5 billion credit union that serves more than 190,000 members through its branch footprint and a full line of traditional and digital financial products and services - including Online, Mobile, Video, and Telephone Banking - is dedicated to unlocking the potential of individuals and families so they can thrive.
Chartway is also known for being an award-winning leader in charitable giving through its We Promise Foundation. As the charitable arm of the credit union, the We Promise Foundation provides life-changing experiences that bring joy, hope, and smiles to children facing medical hardship or illness. The foundation has been recognized nationally for its success in raising more than $12 million to support charities that align with its mission. For more information, visit www.Chartway.com; or, visit them on Facebook, Twitter, or Instagram.