NORFOLK, Va.–Chartway Federal Credit Union will close all eight of its locations inside Farm Fresh stores on April 20.
The closures follow an announcement by Farm Fresh that it is selling 21 of its 38 stores to Kroger, Kroger’s Harris Teeter brand and Food Lion by May, and is shopping for buyers for the other 17, according to the Virginia Pilot.
Chartway CEO Brian Schools told the Virginia CFCU’s 11,000 members who use the eight grocery store branch locations in Norfolk, Virginia Beach, Chesapeake, Portsmouth and Suffolk they will be able to go to 16 other remaining standalone branches in Hampton Roads. He said the credit union is scouting locations to open a new branch in Suffolk. In that city, both Chartway locations were inside Farm Fresh stores.
Schools also told the Virginia Pilot Chartway has watched traffic at the in-store branches decline as more members use online banking.
Chartway has contacted the three buyers of the Farm Fresh stores, but Schools said he doesn’t anticipate reopening at the moment. CFCU said the roughly 30 employees who work at the branches will have the opportunity to transfer to other branches and none will be laid off.