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Frequently Asked Questions About "business"

• When will my mobile deposit be available in my account?
  

  Checks deposited Monday - Friday will be available as follows:

  • $225 will be available the same day
  • $5,300 will be available in two (2) business* days
  • $5,525 and above will be available in seven (7) business* days

  *Holidays on which we are closed are not considered business days.

  *If your account has been opened less than 30 days, then the entire deposit will be on hold for 7 business days.

  Example: A check deposited in the amount of $10,000 using Mobile Deposit on Friday, $225 will be immediately available, $5,300 will be available on Tuesday after 12:00am ET. The remaining $4,475 will be available on the seventh business day from the date of the original mobile deposit.

• Does the business have to occupy the building to get a loan?
  

  Nope! We can do loans on several properties at once, on investment properties, or a mixture of the two. As long as the business is the owner of the property, we can use it as collateral.

• What documents/finances should the borrower prepare to submit with an application?
  

  Every borrower will need to submit 3 years of taxes for each business and business owner involved in the loan. Additional documents will be required, which varies from loan to loan, so it’s best to allow the commercial real estate loan officers to make those determinations with the borrower directly.

• What is considered a commercial real estate loan?
  

  Any loan to a business for a business purpose where the collateral used is a piece of real estate is a commercial real estate loan.

• What types of checks can be deposited with mobile deposit?
  

  Any checks drawn from a U.S. financial institution in U.S. dollars are eligible for mobile deposit.

  This includes personal checks, corporate / business checks, cashier's checks, and government checks.

• What do I do if I lose my credit or debit card?
  

  Login to Online Banking and from the Main Menu:

  1. Select Account Services
  2. Then Manage Your Card
  3. From there you will select the card and follow the prompts to report your lost card

  You can also call us at (800)678-8765 anytime to report your card lost or stolen.

  Generally, it takes 7-10 business days for you to receive your new card. If you need it sooner, ask the Member Service Representative for alternative delivery options.

• What is the maximum value per check deposit allowed in Mobile Deposit?
  

  The maximum amount that can be deposited in a business day is $75,000. There is no limit on the number of checks deposited, provided the monetary value of the deposits does not exceed $75,000.

• How do I make a mobile deposit?
  

  Follow the steps below using your smartphone device 

  1. Log in to the Chartway mobile app
  2. Select Mobile Deposit on the home page or navigate to “Transfers & Payments” and select “Deposit a Check”
  3. Choose your account and enter the deposit amount
  4. Take photos of the front and back of your endorsed check. Always make sure the back of the check is endorsed with the signature of the payee and “For Mobile Deposit Only at CFCU.”
  5. Review and approve the check images.
  6. Submit the images for deposit

  You should retain the check for fourteen (14) business days after receiving confirmation that it posted to your account.

• Can Chartway members use the Shared Branch Network branches to complete transactions?
  

  Yes, you can conduct most business on your Chartway accounts at other credit unions. The Shared Branch Network Service Centers are located throughout the United States and provide limited service to credit union members.

  Members are able to perform the following functions without a fee:

  • Deposits
  • Withdrawals
  • Transfers
  • Notary
  • Loan Payments
  • Check Cashing
  • Cashier's Checks

  Note: The service center has a limit of $10,000 per day.

  Members are not able to perform the following functions:

  • Money Orders
  • Gift Cards
  • Do a withdrawal or cash a check if their account is in the negative - even if they have Overdraft Protection
  • Use Overdraft Privilege or Overdraft Protection

  Note: Service Centers are not able to access or view a member's credit card

  Additional Services they may offer are:

  • 24 Hour ATM
  • Night Deposit Boxes
  • Theme Park Tickets
  • Cash Advances
• Are personal guarantees required?
  

  Unconditional personal guarantees are required for all commercial real estate loans. Generally, borrowers with at least 20% ownership in the business will be required to guarantee loans. Owners with less than 20% ownership may be required to guarantee loans to have at least 50% ownership represented as guarantors. Partial or waived guarantees may be possible in situations when exceptionally strong mitigating factors exist.