WSCU News Headlines

Our Financial Stability
President’s Message from Vickie van der Have

Many of you have no doubt heard about the turmoil facing the mortgage and financial services marketplace, making people worried about the safety of their money. Increasingly, we will continue to hear about problems in the financial services industry in the future, driven by the decline in home values, higher fuel and food prices plus an overall weakening economy.

Accounts are Insured up to $250,000 or more
Weber State Credit Union deposit accounts (checking, savings, certificates, etc) are insured up to $250,000 or more through the National Credit Union Administration (NCUA).  The NCUA is an agency of the Federal government that oversees and insures most credit unions, much like the FDIC does for banks.  Regular share accounts are insured to at least $100,000, while retirement accounts are insured to at least $250,000.  For more information about share insurance, click on this link to NCUA’s website.

Weber State Credit Union's Financial Health is very Stable
While no one is immune to the pain of a deteriorating economy, WSCU is well positioned to weather this current financial storm.  WSCU has 9.19% of capital in reserve, a much stronger ratio than the bank average of 6%. Our financial health is very stable due to the minimal amount of risk in our lending portfolio.  WSCU continues to enjoy one of the lowest delinquency rates in the country with only 0.07% of outstanding loans delinquent, compared to a national credit union average of 0.91%.

Looking to the Future
I wish to reassure our members that our credit union is safe, your deposits are safe, and our future is safe.  We thank you for the opportunity to serve you, and look forward to providing for all your financial needs well into the future.

Long-term care planning seminar from Raymond James
Our financial partners at Raymond James will host a free seminar about planning for long term care on Thursday, September 11th. The workshop will help participants learn what Medicare covers, how to select a long-term coverage policy, and how to take advantage of tax incentives. To participate in the seminar, please call Raymond James at 801-475-6449.

Tax-free Education Savings Accounts now available
The all-new Education Savings Accounts are a tax-free way for parents and children to save for Elementary, Secondary, and College expenses. Find out more on the new accounts by visiting our ESA page.

7-11 store ATMs to become Service Center outlets
ATM locations in over 5,000 7-11 convenience stores nationwide are now Credit Union Service Center outlets. Members can make deposits, transfers, and withdrawals at these ATMs free of any fees. When using these enhanced ATMs, members are given the option of accessing the machine as a Co-Op ATM or Credit Union Service Center. For transfers and withdrawals, members should select "Co-Op ATM", for deposits, members should select "Credit Union Service Center".

Combine your VISA debit & credit card points
Members can now combine their Scorecard points from their debit and credit cards into one account for more redemption power. Members can request the consolidation by calling
1-800-854-0790, or visit scorecardrewards.com for more information.

For assistance or questions relating to any of the products, accounts or services we offer, please call 399-9728.