VIRGINIA BEACH, Va.–One large Virginia credit union has announced plans to merge in one small Virginia CU.
The $2.3-billion Chartway FCU said it has been approved to merge in the $5.5-million Saint Matthew’s FCU in Virginia Beach, which serves the church of the same name.
Leaders at Saint Matthew’s began planning the merger with Chartway a few months ago.
“I reached out to Chartway because I knew we shared the same values,” JoAnne Siebels, manager and treasurer at Saint Matthew’s, said in an emailed statement to local media. “At the end of the day, it really is about caring for the needs of others, whether member or team member.”
Saint Matthew’s Federal Credit Union was founded in 1961 by 100 church members. The credit union has one branch location and 455 members.
“We would look forward to the opportunity to welcome Saint Matthew’s and help make their lives more affordable,” said Brian Schools, Chartway president and CEO, in a statement.
In announcing the merger, Chartway said Saint Matthew’s members will have access to a larger branch network, drive-through tellers and ATMs, a member service center, expanded hours, mobile and online banking, mobile bill pay, mobile deposits and a digital wallet.
Chartway has more than 192,000 members and more than 30 branches in Virginia, Utah and Texas.