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MONTHLY STATEMENT TO CERTIFICATEHOLDERS
SERIES 1995-C
CHEVY CHASE MASTER CREDIT CARD TRUST II
RECEIVABLES
Beginning of the Month Principal Receivables: $ 2,121,117,452.26
Beginning of the Month Finance Charge Receivables: $ 74,247,260.51
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $ 2,195,364,712.77
Removed Principal Receivables: $ 0.00
Removed Finance Charge Receivables: $ 0.00
Removed Total Receivables: $ 0.00
Additional Principal Receivables: $ 0.00
Additional Finance Charge Receivables: $ 0.00
Additional Total Receivables: $ 0.00
Discounted Receivables Generated this Period: $ 0.00
End of the Month Principal Receivables: $ 2,077,427,520.47
End of the Month Finance Charge Receivables: $ 76,461,713.10
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $ 2,153,889,233.57
Special Funding Account Balance $ 0.00
Aggregate Invested Amount (all Master Trust Series) $ 1,915,500,000.00
End of the Month Transferor Amount $ 161,927,520.47
End of the Month Transferor Percentage 7.79%
DELINQUENCIES AND LOSSES
End of the Month Delinquencies: RECEIVABLES
30-59 Days Delinquent $ 51,601,952.87
60-89 Days Delinquent $ 32,391,378.04
90+ Days Delinquent $ 62,422,395.45
Total 30+ Days Delinquent $ 146,415,726.36
Delinquent Percentage 6.80%
Defaulted Accounts During the Month $ 17,344,034.20
Annualized Default Percentage 9.81%
Principal Collections 218,237,147.65
Principal Payment Rate 10.29%
Total Payment Rate 11.61%
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INVESTED AMOUNTS
Class A Initial Invested Amount $ 322,000,000.00
Class B Initial Invested Amount $ 28,000,000.00
INITIAL INVESTED AMOUNT $ 350,000,000.00
Class A Invested Amount $ 368,000,000.00
Class B Invested Amount $ 32,000,000.00
INVESTED AMOUNT $ 400,000,000.00
FLOATING ALLOCATION PERCENTAGE 18.86%
PRINCIPAL ALLOCATION PERCENTAGE 18.86%
MONTHLY SERVICING FEE $ 666,666.66
INVESTOR DEFAULT AMOUNT $ 3,271,084.82
CLASS A AVAILABLE FUNDS--
CLASS A FLOATING PERCENTAGE 92.00%
Class A Finance Charge Collections $ 6,803,563.25
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $ 6,803,563.25
Class A Monthly Interest $ 1,974,665.00
Class A Servicing Fee $ 613,333.33
Class A Investor Default Amount $ 3,009,398.06
TOTAL CLASS A EXCESS SPREAD $ 1,206,166.86
REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
CLASS B FLOATING PERCENTAGE 8.00%
Class B Finance Charge Collections $ 591,614.17
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $ 591,614.17
Class B Monthly Interest $ 175,376.67
Class B Servicing Fee $ 53,333.33
TOTAL CLASS B EXCESS SPREAD $ 362,904.17
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EXCESS SPREAD --
TOTAL EXCESS SPREAD $ 1,569,071.03
Excess Spread Applied to Required Amount $ 0.00
Excess Spread Applied to Class A Investor $ 0.00
Charge Offs
Excess Spread Applied to Class B $ 261,686.79
Interest, Servicing Fee and Default
Amount
Excess Spread Applied to Reductions of $ 0.00
Class B Invested Amount
Excess Spread Applied to Monthly Cash $ 29,333.33
Collateral Fee
Excess Spread Applied to Cash Collateral $ 0.00
Account
Excess Spread Applied to other amounts owed $ 1,278,050.91
Cash Collateral Depositor
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE FOR
GROUP I $ 0.00
EXCESS FINANCE CHARGES COLLECTIONS -- GROUP I --
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL
SERIES IN GROUP I $ 0.00
SERIES 1995-C EXCESS FINANCE CHARGE COLLECTIONS --
EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO $ 0.00
SERIES 1995-C
Excess Finance Charge Collections Applied to $ 0.00
Required Amount
Excess Finance Charge Collections Applied to $ 0.00
Class A Investor Charge Offs
Excess Finance Charge Collections Applied to $ 0.00
Class B Interest, Servicing Fee and Default Amounts
Excess Finance Charge Collections Applied to $ 0.00
Reductions of Class B Invested Amount
Excess Finance Charge Collections Applied to $ 0.00
Monthly Cash Collateral Fee
Excess Finance Charge Collections Applied to $ 0.00
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Cash Collateral Account
Excess Finance Charge Collections Applied to $ 0.00
other amounts owed Cash Collateral Depositor
YIELD AND BASE RATE --
Base Rate (Current Month) 7.86%
Base Rate (Prior Month) 8.25%
Base Rate (Two Months Ago) 7.96%
THREE MONTH AVERAGE BASE RATE 8.02%
Portfolio Yield (Current Month) 12.37%
Portfolio Yield (Prior Month) 14.10%
Portfolio Yield (Two Months Ago) 9.35%
THREE MONTH AVERAGE PORTFOLIO YIELD 11.94%
PRINCIPAL COLLECTIONS --
CLASS A PRINCIPAL PERCENTAGE 92.00%
Class A Principal Collections $ 37,866,763.97
CLASS B PRINCIPAL PERCENTAGE 8.00%
Class B Principal Collections $ 3,292,762.08
TOTAL PRINCIPAL COLLECTIONS $ 41,159,526.05
REALLOCATED PRINCIPAL COLLECTIONS $
$ 0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $ 0.00
SERIES
CLASS A SCHEDULED AMORTIZATION --
Controlled Amortization Amount $ 0.00
Deficit Controlled Amortization Amount $ 0.00
CONTROLLED DEPOSIT AMOUNT $ 0.00
CLASS B SCHEDULED AMORTIZATION --
Controlled Accumulation Amount $ 0.00
Deficit Controlled Accumulation Amount 0.00
CONTROLLED DEPOSIT AMOUNT $ 0.00
EXCESS PRINCIPAL COLLECTIONS ELIGIBLE FOR PRINCIPAL $ 41,159,526.05
SHARING
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INVESTOR CHARGE OFFS --
CLASS A INVESTOR CHARGE OFFS $ 0.00
CLASS B INVESTOR CHARGE OFFS $ 0.00
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $ 0.00
PREVIOUS CLASS B CHARGE OFFS REIMBURSED $ 0.00
CASH COLLATERAL ACCOUNT --
Required Cash Collateral Amount $ 52,000,000.00
Available Cash Collateral Amount $ 52,000,000.00
TOTAL DRAW AMOUNT $ 0.00
CASH COLLATERAL ACCOUNT SURPLUS $ 0.00
CHEVY CHASE BANK, F.S.B.,
as Servicer
By: ________________________
Jessica L. Parker
Vice President
and Assistant Controller