Home Info Newsroom Credit Union News Release Archive Chartway Federal Credit Union, Saint Matthews Federal Credit Union Announce Merger Proposal

Chartway Federal Credit Union and Saint Matthew’s Federal Credit Union Announce Merger Proposal

Heidi E. Worker
Director of Enterprise Communication
(757) 222-3028

Virginia Beach, VA (September 29, 2020) – Chartway Federal Credit Union is pleased to announce that the National Credit Union Administration has given its approval for Saint Matthew’s Federal Credit Union to merge into Chartway.

The proposed merger will now go before the Saint Matthew’s membership for a vote to accept the merger proposal, as agreed on by both credit unions. Combined as Chartway Federal Credit Union, the two Hampton Roads-based organizations would have assets of $2.3B, a membership base of more than 190,000, more than 30 branches nationwide, and a full slate of online, mobile, video, and telephone banking services.

Saint Matthew’s 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.

“Saint Matthew’s has always believed in helping families get ahead financially,” said JoAnne Siebels, Saint Matthew’s FCU manager/treasurer. “That’s why, following thoughtful conversations and consideration, we determined that the opportunity to join Chartway – a financially strong credit union with a vibrant culture, and a mutual commitment to serving its team, members, and communities – would bring tremendous value to our membership. They are an ideal partner!”
Members of Saint Matthew’s who are 18 years of age or older will have the opportunity to vote for the proposed December 31, 2020, merger. They can mail-in the ballot they recently received and or vote online during the virtual Special Meeting of the Saint Matthews members that will take place at 6 PM on November 16, 2020. In the meantime, Saint Matthew’s members are welcome to call (877) 589-4108 with any questions.

“At Chartway, we’re dedicated to supporting our team, members, and communities,” said Brian Schools, president & CEO of Chartway Federal Credit Union. “We would look forward to the opportunity to welcome Saint Matthew’s and help make their lives more affordable.”

Chartway Federal Credit Union, a not-for-profit financial institution, has been proudly serving members for more than half a century. Guided by its vision, mission, and values, the $2.3 billion credit union is dedicated to making life more affordable for its 190,000 members through more than 30 branches and online, mobile, video, and telephone banking services, including mobile deposit, mobile bill pay, and digital wallets. As one of the largest credit unions with membership concentrations in Virginia, Utah, and Texas, Chartway is consistently recognized for its financial strength, its ability to make life affordable for its members, and for its philanthropic efforts through its charitable arm, the We Promise Foundation, which has raised nearly $12 million to provide life-changing experiences that bring joy, hope, and smiles to children facing medical hardship or illness. For more information, visit www.Chartway.com; or, visit them on Facebook, Twitter, or Instagram.

Saint Matthew’s Federal Credit Union is a not for profit financial cooperative that was originally formed by 100 parishioners – owned by and for the vibrant Saint Matthew’s Community.

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