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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: $ 2,044,665,320.00
Beginning of the Month Finance Charge Receivables: $ 59,228,242.58
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $ 2,103,893,562.58
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: $ 2,042,198,580.75
End of the Month Finance Charge Receivables: $ 63,401,053.43
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $ 2,105,599,634.18
Special Funding Account Balance $ 0.00
Aggregate Invested Amount (all Master Trust Series) $ 1,802,000,000.00
End of the Month Transferor Amount $ 240,198,580.75
End of the Month Transferor Percentage 11.76%
DELINQUENCIES AND LOSSES
End of the Month Delinquencies: RECEIVABLES
30-59 Days Delinquent $ 42,599,170.49
60-89 Days Delinquent $ 26,394,538.42
90+ Days Delinquent $ 48,816,350.36
Total 30+ Days Delinquent $ 117,810,059.27
Delinquent Percentage 5.60%
Defaulted Accounts During the Month $ 16,067,993.77
Annualized Default Percentage 9.43%
Principal Collections 195,676,113.57
Principal Payment Rate 9.57%
Total Payment Rate 10.96%
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 19.56%
PRINCIPAL ALLOCATION PERCENTAGE 19.56%
MONTHLY SERVICING FEE $ 666,666.66
INVESTOR DEFAULT AMOUNT $ 3,142,899.59
CLASS A AVAILABLE FUNDS--
CLASS A FLOATING PERCENTAGE 92.00%
Class A Finance Charge Collections $ 6,742,295.62
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $ 6,742,295.62
Class A Monthly Interest $ 1,873,554.85
Class A Servicing Fee $ 613,333.33
Class A Investor Default Amount $ 2,891,467.61
TOTAL CLASS A EXCESS SPREAD $ 1,363,939.83
REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
CLASS B FLOATING PERCENTAGE 8.00%
Class B Finance Charge Collections $ 586,286.56
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $ 586,286.56
Class B Monthly Interest $ 166,362.26
Class B Servicing Fee $ 53,333.33
TOTAL CLASS B EXCESS SPREAD $ 366,590.97
EXCESS SPREAD --
TOTAL EXCESS SPREAD $ 1,730,530.80
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 $ 251,431.97
Interest, Servicing Fee and Default
Amount
Excess Spread Applied to Reductions of $ 0.00
Class B Invested Amount
Excess Spread Applied to Monthly Cash $ 26,177.78
Collateral Fee
Excess Spread Applied to Cash Collateral $ 0.00
Account
Excess Spread Applied to other amounts owed $ 0.00
Cash Collateral Depositor
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE FOR
GROUP I $ 1,452,921.05
EXCESS FINANCE CHARGES COLLECTIONS -- GROUP I --
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL
SERIES IN GROUP I $ 5,730,710.63
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
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) 7.92%
Base Rate (Prior Month) 7.95%
Base Rate (Two Months Ago) 7.96%
THREE MONTH AVERAGE BASE RATE 7.94%
Portfolio Yield (Current Month) 12.56%
Portfolio Yield (Prior Month) 13.62%
Portfolio Yield (Two Months Ago) 11.19%
THREE MONTH AVERAGE PORTFOLIO YIELD 12.46%
PRINCIPAL COLLECTIONS --
CLASS A PRINCIPAL PERCENTAGE 92.00%
Class A Principal Collections $ 35,212,307.98
CLASS B PRINCIPAL PERCENTAGE 8.00%
Class B Principal Collections $ 3,061,939.81
TOTAL PRINCIPAL COLLECTIONS $ 38,274,247.79
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 $ 38,274,247.79
SHARING
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: ________________________
Mark A. Holles
Vice President