The Virginia-based lender is opening new branches in Virginia Beach and Utah even as more members shift toward digital banking tools.

At a time when many financial institutions are shrinking their physical footprints, Chartway Credit Union is moving in the opposite direction.

The $3.3 billion-asset credit union, based in Virginia Beach, announced plans to open two new branches in July — one in Virginia Beach’s Town Center district and another in Herriman, Utah — while continuing a broader renovation and expansion effort stretching across Virginia, Utah and Texas.

The openings come as credit unions and regional banks face an increasingly delicate balancing act: members expect fast, sophisticated digital banking experiences, but many still want nearby branches for lending conversations, financial advice and more complicated transactions.

For Chartway, executives say the answer is not choosing between physical and digital banking, but investing in both.

“Growth for Chartway has always been about more than physical expansion,” Brian Schools, the credit union’s president and chief executive, said in a statement announcing the projects. “It’s about showing up for our members and communities in meaningful ways.”

Chartway reported $3.7 million in first-quarter earnings for 2026, up from $2.4 million during the same period a year earlier, according to NCUA call report data. The credit union now serves roughly 265,000 members.

Story continued below…

The Town Center branch, scheduled to open July 9, will deepen Chartway’s presence in the Hampton Roads region, where the credit union has longstanding roots. The Herriman branch, opening July 21, marks a return to a rapidly growing Utah community where Chartway previously operated.

Utah has become an increasingly competitive market for credit unions and community financial institutions as population growth and housing development reshape suburbs around Salt Lake City. Herriman, once largely rural, has seen significant residential expansion over the past decade.

“Our history in Herriman runs deep, and we’re proud to return to this community in a bigger and better way than before,” Melissa Cade, Chartway’s chief experience officer, said in the release.

The branch strategy reflects a broader trend across the credit union industry, where institutions are redesigning physical locations rather than abandoning them altogether. Traditional teller-focused layouts are giving way to smaller, technology-heavy branches aimed at advisory services and member engagement.

Chartway described both new locations as modern spaces supported by advanced technology and local staff, part of an effort to blend in-person service with digital convenience.

The expansion also comes amid a larger modernization campaign inside the credit union. During the first quarter of 2026, Chartway rolled out several new digital banking features, including bilingual banking services, integrated credit score monitoring, subscription management tools and financial tools aimed at children and teenagers.

Those additions reflect growing pressure on midsize financial institutions to match features commonly offered by fintech firms and national banks.

Consumer expectations around digital banking have shifted sharply in recent years, particularly among younger users accustomed to real-time notifications, budgeting tools and personalized app experiences. Credit unions, historically dependent on relationship banking and branch access, have increasingly invested in technology to remain competitive while preserving their community-focused identities.

Chartway’s branch investments suggest the institution sees physical banking remaining relevant, even as digital usage expands.

The credit union has opened or renovated multiple branches since 2024. New locations in Norfolk and Virginia Beach opened in late 2024 and early 2025, while another relocation and construction project is underway in Cedar City, Utah, with a planned opening later this year.

At the same time, the institution has completed renovations at branches in Chesapeake, Virginia Beach, St. George, Washington, Utah, Houston and Norfolk, with additional renovation projects planned in Virginia Beach and West Jordan, Utah, in 2026.

The scale of the work underscores how some credit unions are rethinking branch networks rather than retreating from them. Industry analysts have increasingly pointed to a hybrid model in which branches serve as anchors for advisory services and relationship-building, while day-to-day banking shifts online.

Chartway appears to be leaning into that model.

“The July openings are part of Chartway’s broader strategy to ensure accessibility across physical locations, digital channels, and personalized service models,” the credit union said in its announcement.

Founded in 1959, Chartway has expanded well beyond its Virginia origins over the years, building a footprint that now stretches into Utah and Texas. Its recent growth has coincided with a period of consolidation and technological change across the credit union sector, where institutions face rising pressure to invest heavily in digital infrastructure while still maintaining local visibility.

For many lenders, that has meant difficult decisions about where to spend. Some institutions have cut branches to offset technology costs. Others, particularly those in growing suburban markets, are still betting that physical presence matters — especially when paired with digital tools members increasingly expect.

Chartway’s latest investments suggest it believes branches still have value, provided they evolve alongside the people using them.

“Growth for Chartway has always been about more than physical expansion.”

– Brian Schools
President & CEO
Chartway Credit Union