WFCU
  WFCU
 
Announcements


Announcing:
Green Vehicle Loans!

Thinking about getting a more fuel efficient and eco-friendly vehicle?  Go Green with a U. S. Government Environmental Protection Agency (EPA) designated SmartWay® vehicle and we’ll reward you with a discounted loan rate.  The rate discount is based on the vehicle’s EPA designation at the time the loan is granted* and will be applied to the approved loan rate determined by the Credit Union in accordance with our Risk-Based Lending Policy.

The EPA rates vehicles on calculated greenhouse gas emissions and fuel economy.  The most environmentally friendly vehicles receive a SmartWay® or SmartWay® Elite designation.  You’ll be surprised at how many vehicles qualify for the EPA’s SmartWay® rating, not just hybrids and small cars.

  • The Green Vehicle Loan offers a 1.00% discounted loan rate on loans with terms up to 48 months and 0.75% discounted loan rate on loans with terms from 49 months up to 84 months for fuel efficient and eco-friendly new and used vehicles** with a SmartWay® or SmartWay® Elite EPA designation.

  • Vehicles with SmartWay designations are denoted on the following web site with the SmartWay® logos:

    http://www.epa.gov/greenvehicles/Index.do      

Searching for qualifying vehicles is easy! You can search by specific make and model or use the search engine to identify the greenest vehicles on the market. Remember, WFCU will reward you for being environmentally conscientious when you purchase your next vehicle! Call your branch today.

*Vehicles currently financed with Welcome Federal Credit Union can be refinanced if the current equity and new loan advance are at least $500.00.

**Some restrictions apply. If the vehicle is not listed with one of the SmartWay® designations on the EPA website, the discounted rate will not be applied.

Welcome Federal Credit Union is an "Equal Opportunity Lender”.

On-Line Loan Applications Are Now A Reality!

Apply for a loan anytime, anywhere via the Internet and Virtual Branch (VB). You now have the ability to complete your loan application on-line from the comfort of your home, your office, or on the road. VB Lending offers secure access through 128-bit encryption and SSL technology. Once you’ve completed and submitted your loan application on-line, you will be contacted by the Credit Union within one (1) business day!

You don’t have to be a Virtual Branch user to use VB Lending. But … we invite you to visit the site, take a test drive, and learn about the convenience and comprehensive suite of financial services VB offers. Virtual Branch is an extension of our Credit Union!

Click here to visit Virtual Branch.

Click here to apply for a loan.

Welcome Federal Credit Union Receives the
 2009 Best of Greenville Award!

For the second consecutive year, WFCU was honored by being selected for the 2009 Best of Greenville (N. C.) Award in the Credit Unions category by the U. S. Local Business Association!

Award Preview

The USLBA "Best of Local Business" Award Program recognizes outstanding local businesses throughout the country.  Each year, the USLBA identifies companies that they believe have achieved exceptional marketing success in their local community and business category.  These are local companies that enhance the positive image of small business through service to their customers and community.

Nationwide, only 1 in 70 (1.4%) 2008 Award recipients qualified as 2009 Award Winners.  Various sources of information were gathered and analyzed to choose the winners in each category.  The 2009 USLBA Award Program focused on quality, not quantity.  Winners are determined based on the information gathered both internally by the USLBA and data provided by third parties.

Mortgage Loans For You

Mortgage Loan Rates are at all time low. If you’re thinking about purchasing a home or refinancing your mortgage loan, check with WFCU’s Mortgage Resource Center first! We have money to loan and you’ll be treated with the Credit Union standard of professional, courteous, and friendly service.

For more information, call the Mortgage Resource Center toll-free at 1-866-356-7449 or visit the web-site at: http://welcome.mtgresourcecenter.com/.

We Offer Great Vehicle Loans And … We Have Money To Loan!

Need a loan? At Welcome Federal Credit Union (WFCU), it’s business as usual. We continue to provide safe and quality service, and continue to lend responsibly. Our lending guidelines and policies have not “tightened” in response to our nation’s economic crisis – we are lending members’ money just like we always have!

Finance your vehicle with Welcome Federal Credit Union and we’ll give you a great loan at a great rate!

  • Up to 100% financing
  • No hidden fees
  • No bait & switch tricks
  • Loan protection insurance is provided at no additional charge on loan accounts
  • Optional credit disability insurance is available
  • GAP Plus coverage is available
  • Pay the easy way with direct deposit
  • All vehicles up to one year old will be financed as "new" (ex., all 2008 & 2009 models will be financed as new for the entire year of 2009)
  • Eligible vehicles include new and used cars, trucks, SUV’s, motorcycles, boats, luxury vehicles, and recreational vehicles

It’s a great time to buy if you’re in the market for a new or used vehicle. Good pricing is available and deals are waiting to be made. Just be sure to call us for the best financing!

We offer several ways to apply for a loan with Welcome Federal Credit Union:

  • Apply On-line.
  • Print our loan forms from this web site.
  • Contact one of our Credit Union branches.

Apply or call today, our loan staff is ready to help!

Credit Unions In The News

We want to keep you informed about credit union industry news items that have been circulating lately.  Welcome Federal Credit Union and other North Carolina credit unions are in great shape.  Rest assured that WFCU is very well capitalized, strong, and has the ability to pay the assessment described below without causing hardship to the Credit Union and the members we serve.  With our level of financial resources, we will continue to actively extend credit to our membership, provide competitive returns on shares and investments, and offer financial services at low or no cost.

The following actions by the National Credit Union Administration (NCUA) were taken to stabilize a part of the credit union system that is under stress due to corporate credit unions that operate in the open market, and as such, have incurred losses on investments like mortgage-backed securities.  Corporate credit unions are not “regular” credit unions that serve members.  They are chartered to provide products and services to more than 8,000 credit unions across the United States.  NCUA’s goal is to help corporate credit unions maintain liquidity, strengthen their capital, and restructure the corporate system.  NCUA is committed to protecting member’s funds in federally insured credit unions and will continue to take all steps necessary to preserve a safe and sound credit union industry.

On January 28, 2009, the Board of NCUA took the following actions:

  • All federally insured credit unions are required to write-off a portion of their deposits in the National Credit Union Share Insurance Fund (NCUSIF).  These actions don’t involve any taxpayer dollars.
  • All federally insured credit unions will be assessed a premium, in order to maintain a robust and strong federal insurance fund for credit union members.

On March 20, 2009, NCUA took the following actions:

  • Two corporate credit unions located in other parts of the country were taken over by the NCUA due to losses on mortgage investments.  The products and services they provide will continue uninterrupted and there is no direct impact by NCUA’s actions on Welcome Federal Credit Union (WFCU) or your deposits.

Your deposits with WFCU are safe.  Every account is insured for up to $250,000.  No member has ever lost a dime in an insured credit union account in the United States.  All insured credit union funds are backed by the full faith and credit of the United States government.

At WFCU, it’s business as usual.  We continue to provide quality service, are healthy, and well capitalized.  WFCU is a highly rated credit union.  Bauer Financial, an independent, national rating agency, has maintained its five-star superior rating for WFCU.

Below are two additional articles:  1) Safety and Soundness of Welcome Federal Credit Union; 2) Share Insurance Information.

Please give us a call if you have any questions toll-free at 1-888-932-8148 or Main Branch at 919-483-1648.

To Our Valued Members --
Safety and Soundness of Welcome Federal Credit Union


In regards to the recent turmoil at many large financial institutions, Welcome Federal Credit Union wants to assure you of our safety and soundness.

Your deposits are insured to at least $250,000 and your IRA deposits are insured separately up to $250,000 by NCUA (National Credit Union Administration, a U.S. Government Agency).  Welcome Federal Credit Union has over $75,000,000 in assets with capital (equity) of over $9,000,000.  This equates to a Capital ratio of 12%, well above the 7% that our regulator defines as “well-capitalized.”

Welcome Federal Credit Union invests in YOU - our member.  Currently, 95% of your deposits are invested in loans to other members.  Of these loans, 96% is secured by some form of collateral.  Delinquent loans to total loans remain low at 0.60%, well below our peer average of 1.08%.  Net charge-offs to average loans is 0.19%, also well below the peer average of 0.53. The remaining funds are invested in overnight, highly liquid accounts.

Welcome Federal Credit Union adheres to conservative lending and investing policies and operating procedures.  Your Credit Union is audited annually by NCUA and an independent auditing group.

With our strong capital position and conservative policies, along with your share insurance, your funds are safe at your Credit Union.  Rest assured, Welcome Federal Credit Union remains financially solid and ready to meet your financial needs.

Thank you for your continued support.

 

Share Insurance Information 

Credit Unions and WFCU have always, and will continue to lend responsibly.  This is the reason we’ve been able to steer clear of the subprime crisis that is negatively impacting other financial institutions.  Credit Unions are member-owned, not-for-profit cooperatives.  We exist to serve our members, not profit from them.

Not one penny of insured savings has ever been lost by a member of a federally insured Credit Union.  In these uncertain economic times, Credit Union members are looking for a safe, sound place to invest their hard-earned money – Welcome Federal Credit Union is just that place. 

We invite you to visit NCUA’s share insurance web page for information about your insured funds. 

National Credit Union Administration (NCUA) Share Insurance web page 

http://www.ncua.gov/ShareInsurance/index.htm 

The links below to the brochures ‘Your Insured Funds’ and ‘Your Federal Share Insurance’ provide you with examples of insurance coverage under NCUA’s rules.  They will help you understand your share insurance protection. 

http://www.ncua.gov/Publications/brochures/insured_funds/funds.pdf 

            http://www.nafcu.org/Content/NavigationMenu/Products/Products1/FS_Insurance.pdf

 If you have questions, please contact us at 919-483-1648.


Virtual Branch Updates

Virtual Branch Gets A New Look and Navigation Flow – Effective June 25, 2009, you’ll see an upgraded Virtual Branch site.

  • A new horizontal menu at the top of the screen that uses tabs and sub-menus will replace the existing left-hand menu bar.
  • A new “Overview” page will provide easy access to balances, transfers, bill pay, alerts, and more.
  • A new “Self-Service” page will provide user information, account information, member requests, and security information.

Home Equity Line-of-Credit Advances – More convenience!  Faster service!  Home equity line-of-credit advances are now available through Virtual Branch!  Just add your home equity loan account number to your Virtual Branch account.  (Sign-on, under Personal Info on left side-bar menu, click Account Info, click Add Account in upper right-hand corner.)

Virtual Branch Lending – It’s Here! Apply for loans anytime, anywhere via the Internet. Visit here.
 

Welcome Federal Credit Union

March 18, 1974 – March 18, 2009

35 Years!!

 
 
Welcome Federal Credit Union Goes Green!
 

We’re proud to share some of the ways we are becoming a “greener” organization.

  • Virtual Branch Home Banking

  • Virtual Branch Bill Pay

  • e-Statements

  • Paper receipts for deposits & loan payments will no longer be provided (unless requested)

  • Direct deposit – fast & safe

  • Virtual Branch Lending Is Coming Soon! Complete your loan application on-line.

 

 

Help Save Trees –
Statement Express Is Here! 

Receive your monthly and/or quarterly statements safely, quickly, and electronically.  Electronic statements provide secure, anytime, anywhere access to your Welcome Federal Credit Union statements.  Here are a few features of eStatements:  

•     Automatic email notification when your statements are available for viewing/printing.

•     Six months of statements available for instant retrieval.

•     All data is fully secured, encrypted, and protected by the latest SSL technology.

•     eStatements can be downloaded.

•     If you have more than one WFCU account and/or sub-accounts, you will need to enroll each account individually.  However, you are not required to enroll your checking and loan accounts separately.

•     When you elect to view your statements online instead of receiving a paper statement by mail, it helps protect you from confidential information being lost or stolen from your mailbox.

•     Safest, quickest, and most convenient way to receive your statements.

•     Enroll Now!  Just sign onto Virtual Branch and click on the “eStatements” link listed under the “BankIT” section on the left side-bar menu.  There are terms and conditions that must be agreed upon before eStatements will be activated.  To ensure your enrollment (and have the capability to view the terms and conditions), you need to enable ‘pop-ups’ for the Virtual Branch web site.

In support of American Forests’ Global ReLeaf Program, we’ll plant a tree on your behalf when you enroll in Statement Express.

Saving paper will help save our trees!

 

 

Help Us Spread The Word and The Benefits of Membership!

As Welcome Federal Credit Union grows and changes, we will continue to expand our field of membership. Offering a better financial option to more groups promotes the Credit Union philosophy of "people helping people". We are happy to invite other companies and organizations to join Welcome Federal Credit Union and begin taking advantage of the benefits of membership in our Credit Union.

Please help us spread the word by inviting your co-workers and families to join!

 

 
  For more information, please phone one of our branches.
Phone us toll-free at 1-888-WFCU14U (1-888-932-8148).

Main Branch-RTP:                919-483-1397 or 919-483-1486

Moore Drive Branch-RTP:     919-483-8899 or 919-483-8693

Zebulon Branch:                   919-269-1225

Greenville Branch:               252-758-3279

Henderson Branch:              252-430-3655