Rendering of Chartway Credit Union’s branch to open Dec. 9 in Norfolk, Va. Credit/Chartway Credit Union
Chartway Credit Union of Virginia Beach, Va., announced this week that it plans to invest more than $25 million over two years in its branch network, including the addition of three new branches by the end of 2025.
The credit union in Virginia’s Tidewater ($3 billion in assets, 256,747 members as of Sept. 30) plans to open the first new branch Dec. 9 in nearby Norfolk, Va. Openings will follow in Virginia Beach in January 2025 and one in Herriman, Utah, 25 miles south of Salt Lake City, sometime in 2025.
Chartway also plans to relocate its branch in Cedar City, Utah — 250 miles south of Salt Lake City — to a new building in June 2025, and is planning to renovate its Great Neck branch in Virginia Beach next year. It completed renovations of two Tidewater branches in March and two in Utah last summer.
When complete, Chartway will have 18 branches in Virginia, 14 in Utah and two in Texas — excluding seven Interactive Teller Machines (ITMs) locations in Virginia, one in Texas and its headquarters. The new branches and other improvements will cost about $10 million this year and more than $15 million in 2025.
“At Chartway, our mission is to unlock the potential of every member so they can thrive,” President/CEO Brian Schools said. “With our expanded services and innovative financial solutions, we’re committed to supporting every member’s journey — whether it’s through personal, business or specialized banking products designed to help them succeed.”
Chartway installed nine ITMs last year and expects to have installed 18 more by year’s end for a total of 50 across its network. These ITMs, which Chartway calls “Direct Tellers,” allow members to connect via two-way video with a team member from the convenience of their car or to conduct transactions as they would at any ATM. The credit union said the ITMs can cut wait times by as much one half.
“Expanding our branch network and introducing technologies that provide more ease of access like Direct Tellers underscores our commitment to meeting our members where they are,” Rob Keatts, Chartway’s EVP and chief strategy officer, said. “This growth not only enhances member experiences but also equips individuals and businesses with the tools they need to reach their financial goals.”
In other branch news:
- Alabama ONE Credit Union of Tuscaloosa, Ala. ($1.3 billion in assets, 93,807 members) opened a branch Nov. 12 in Pike Road, Ala., a town 120 miles southeast of Tuscaloosa. The branch at 41 House Street in Pike Road will serve members affiliated with the Pike Road School System or a rural electric cooperative, including the nearby Dixie Electric Cooperative. NCUA data showed it had 24 branches on June 30, six more than a year earlier.
- Consumers Credit Union of Kalamazoo, Mich. ($2.4 billion in assets, 142,950 members) announced Nov. 5 it has begun building a 1,185-square-foot branch in Marshall, Mich., 36 miles east of Kalamazoo. It is expected to open next year. “We’re excited to bring our financial expertise to the Marshall community and continue to expand along the I-94 corridor,” President/CEO Scott Sylvester said. Partners on the project include Bosch Architecture and AVB, the same team that is currently working on construction of the new Galesburg office. NCUA data showed it had 29 branches on June 30, one more than a year earlier.
- The Connecticut Department of Banking announced Nov. 5 that it has approved plans by Mutual Security Credit Union of Shelton, Conn. ($353.8 million in assets, 26,885 members) to open a branch April 1, 2025 in Bridgeport. NCUA data showed it had 10 branches on June 30, one fewer than a year earlier.
- Del-One Federal Credit Union of Dover, Del. ($689 million in assets, 84,678 members) opened a branch Oct. 15 in Lewes, a beach town 40 miles southeast of Dover, which is 50 miles south of Wilmington. NCUA data showed it had 14 branches on June 30, unchanged from a year earlier.
- Lake Trust Credit Union of Brighton, Mich. ($2.6 billion in assets, 178,606 members) announced Nov. 4 that it has moved its Center Line branch three miles to a new location in Warren, Mich., 15 miles north of Detroit. NCUA data showed it had 23 branches on June 30, unchanged from a year earlier.
- Mountain America Federal Credit Union of Salt Lake City ($20.3 billion in assets, 1.3 million members) announced Monday (Nov. 18) that it has opened a second branch in Mesa, Ariz.
Branch Manager Quentin Strickland said the new location is close to the Phoenix-Mesa Gateway Airport and convenient to its East Valley members.
NCUA data showed it had 105 branches on June 30, unchanged from a year earlier.
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