Media Contact:
Phillip Richards
757-552-1000 ext. 43006 
parichards@chartway.com

After garnering first place honors for the 7th time in nine years at the state level, Chartway Federal Credit Union’s We Promise Foundation® was recognized as “Best in the Nation” by the Dora Maxwell Social Responsibility Recognition Award Program. For the second year in a row, the foundation received the pinnacle honor for service and fundraising within the credit union community.

Most remarkably, they achieved this during a very gloomy recession.

According to a Giving USA 2002 report, charitable giving drops significantly during a recession. In fact, the study showed that in six of the eight recession years since 1971, giving declined an average of 1% to 5%. Paradoxically, this is when communities need help from charitable organizations most.

“We decided early in the year that we would push forward, no matter how dismal the financial forecast,” said President and Chief Executive Officer Ron Burniske. “Our commitment to the children that we serve in our communities never wavered. We just had to dig deeper and work harder to make it happen.”

At the National level, The We Promise Foundation was judged against 24 other entries from across the country in the “over $500 million in assets” category after receiving the 2009 Virginia state-level honor last fall. 

"It is truly inspiring to witness the impact of the charitable work of Chartway and the We Promise Foundation. The same generosity and compassion that leads the credit union to serve its members so well also drives its commitment to supporting local children's charities," says Virginia Credit Union League President Rick Pillow. "We salute Chartway and its We Promise Foundation for their remarkable achievement in having won back-to-back National Dora Maxwell Awards, but the real achievement is the difference they make in the lives of young people who face levels of adversity we can scarcely imagine."   

The We Promise Foundation’s community service record is both significant and inspiring: employees dedicated in excess of 2,500 volunteer hours during the calendar year raising $385,000 to benefit children’s charities.

The focus of this year’s award submission was the Black Tie & Bogeys Benefit, encapsulating the 3rd Annual Diamonds in the Sky Gala and the 10th Annual Charity Golf Classic.  Showcased as the premier events in Hampton Roads, the Gala and Golf Classic alone raised $333,979; enough to fulfill the foundation’s mission to make dreams come true for 89 children struggling with life threatening illnesses and severe hardship.

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About the We Promise Foundation®
As the charitable arm of Chartway Federal Credit Union, the We Promise Foundation® is dedicated to making dreams come true for children struggling with degenerative, life-threatening, debilitating or chronic illnesses, or those facing tremendous hardship.  The foundation provides funding within the communities the credit union serves with a single goal:  to put smiles on children’s face by making their dreams come true.  The foundation was launched in 2005 based on the enduring success of Chartway’s previous golf events.  Since 1999, Chartway and its We Promise Foundation have raised more than $2.4 million in support of children’s charities throughout Hampton Roads and the communities served by Chartway Federal Credit Union.  For more information, click on www.wepromisefoundation.com.

Chartway Federal Credit Union, chartered in 1959, is a not-for-profit financial institution headquartered in Virginia Beach, Va.  With assets exceeding $1.2 billion, it serves nearly 155,000 members in Florida, Georgia, Arkansas, New Jersey, North Carolina, Ohio, Rhode Island, Texas and Virginia.  For more information, visit www.chartway.com.

About the Dora Maxwell Social Responsibility Award Program
Sponsored by the Virginia Credit Union League and the Credit Union National Association (CUNA), the Social Responsibility Recognition Award Program recognizes credit unions that have implemented outstanding social projects addressing community problems and raising awareness and funds for charitable organizations.  The annual, statewide competition is named after Dora Maxwell, one of the founders of the credit union movement whose career was characterized by tireless work on behalf of her community and working class families in the 1930s and 1940s.

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About Chartway Federal Credit Union
Chartway FCU, a not-for-profit financial institution, has been serving members and families since 1959, building a service network that includes 64 branches in 10 states. Headquartered in Virginia Beach, VA, the credit union’s reach extends through Arkansas, Florida, Georgia, New Jersey, North Carolina, Ohio, Rhode Island, Texas, Virginia and Utah. HeritageWest Credit Union and SouthWest Community Credit Union joined the Chartway family in 2010. Utah Central became part of the organization in 2011. Altogether, the organization has assets of more than $1.9 billion, and serves 230,000 members. For more information, visit www.chartway.com; or, follow them at www.facebook.com/chartwayfcu.