Winchester Industrial Federal Credit Union - Home Mortgage

Winchester Industrial Federal Credit Union

WebSite www.wifcuonline.org
CEO Donna Jennings

Address 1700 S.Loudoun St.
City Winchester
State VA
ZIP 22604
Phone # (540) 662-5557
Fax (540) 722-3696

HISTORY OF WINCHESTER COMMUNITY FCU

Winchester Community Federal Credit Union (FCU) was originally chartered Winchester CC&S Federal Credit Union in February, 1971 which served the Winchester plant of Crown, Cork and Seal. A merger in July, 1986 with UAW-ABEX Employees Credit Union, formed Winchester Industrial Federal Credit Union. We grew as we increased our Field of Membership through the addition of 6 Select Employee Groups (SEGs): Cives Steel, Pactiv, Trex, Worldwide Automotive (Delco Remy), Quebecor, and DK Industrial.

In 2003 the Credit Union converted to a Community Charter allowing persons who live, work, worship, or attend school, located in Frederick County, including the City of Winchester, Virginia to join. In late 2007, our Board of Directors approved the name change to Winchester Community Federal Credit Union. In early 2008 we began the name conversion process which should be completed by mid-year.
OPERATING STATISTICS AS OF MARCH 31, 2009

HOW WE OPERATE

Your Credit Union savings are insured by the National Credit Union Share Insurance Fund, an agency of the U.S. Government. Each member is insured up to $250,000.00.

The money you save in the Credit Union earns dividends and goes to work to help fellow members buy a car, improve a home take a vacation, or for any of many productive reasons.

Our Credit Union is open to: Persons who live, work, worship, or attend school in, and businesses and other legal entities located in Frederick County, including the City of Winchester, Virginia.

You may join the Credit Union on the first day you enter our field of membership with an initial deposit of $5.00.

Once a member, Always a member. You may retain your membership for a lifetime even if you choose to change employment or relocate.

Statements are rendered at the close of each calendar quarter showing all transactions. Share Draft (checking account) statements are rendered monthly. In the interim, you may inquire at the Credit Union for verification of your account status.

HISTORY OF THE CREDIT UNION MOVEMENT

The power of people working togetherThe Credit Union, self-help, movement was born in Flammersfeld, Germany, in 1849. Its creation is credited to Friedrich Wilhelm Raffeisen as a means of helping his neighbors survive the aftermath of the Napoleonic Wars. Many people had lost their land and livestock to moneylenders. Raffeisen reasoned that if they pooled their resources through small but regular savings, there would be money to lend at low interest rates. His idea was a success and quickly spread.

The Credit Union idea reached the Western Hemisphere in 1900 in Quebec, Canada. The first U.S. Credit Union was established in Manchester, N.H. in 1909. Massachusetts was the first state to pass a Credit Union Act. In 1934 the Congress legalized the formation of Credit Unions. And in 1970 the NCUA Share Insurance Fund was established. No one has ever lost a penny in savings insured by the NCUA.

Copyright Â© Harland Financial Solutions, Inc. All Rights Reserved.