Weokie Federal Credit Union Customer Reviews, Frequently Asked Questions, Rates, Branches, Related Articles, and Financial Summary - 2024 (2024)

FAQs

Who owns WEOKIE Federal credit union? ›

As a member owned federal credit union, WEOKIE's Board of Directors is 100% member elected because we believe you should have a say in what happens to your money. Private banking institutions are run by a board of directors that only care about securing profits for their shareholders.

We are happy to offer membership to anyone that lives, works, worships, or attends school within the Oklahoma City area.

Credit unions tend to have fewer branches than traditional banks. A credit union may not be close to where you live or work, which could be a problem unless your credit union is part of a shared branch network and/or a large ATM network such as Allpoint or MoneyPass. May offer fewer products and services.

WEOKIE charges $15 to send/receive a domestic wire transfer. Every wire sent will post as a separate transaction. Wire funds and fee will be debited from the account selected by the member. Important note: The financial institution that processes the incoming wire may charge a fee for receiving.

No minimum balance is required to earn or receive the accounts rewards.

Higher returns, better savings, low interest on borrowings, and a sense of community – these are just a few of the benefits of credit union membership.

Available only in our app for members who are enrolled in Online Banking, mobile check deposit enables you to deposit your checks anytime. Simply log in to your mobile app, select "Check Deposit" and follow the on-screen prompts.

Most Deposits Are Insured Through the NCUA

This insurance provides peace of mind that money won't be lost should a bank fail. While credit unions aren't covered by the FDIC, their deposits are insured. All federal credit unions and many state-chartered credit unions are federally insured by the NCUA.

Do credit unions fail like banks do? ›

No. Credit unions are insured by the National Credit Union Administration (NCUA). Just like the FDIC insures up to $250,000 for individuals' accounts of a bank, the NCUA insures up to $250,000 for individuals' accounts of a credit union.

Just like banks, credit unions are federally insured; however, credit unions are not insured by the Federal Deposit Insurance Corporation (FDIC). Instead, the National Credit Union Administration (NCUA) is the federal insurer of credit unions, making them just as safe as traditional banks.

Navy Federal Credit Union, State Employees' Credit Union and Pentagon Federal Credit Union are the three largest credit unions by total assets, per the NCUA.

ROCK HILL, S.C. - Founders Federal Credit Union will merge with the Winthrop Credit Union on May 1. The Winthrop Credit Union becomes Founders Federal Credit Union – with 22 offices and three service centers in North and South Carolina, 170,000 members and more than $1.4 billion in assets.

As a not-for-profit financial institution, we're different from a bank because our members are our owners (people who live, work, worship, attend school, or volunteer in our membership area).

VSECU and NEFCU (New England Federal Credit Union) merged on January 1, 2023.

In 2021, Access Credit Union merged with Crosstown Civic Credit Union and later in 2022, merged with Noventis and Sunova Credit Unions to become the largest credit union in Manitoba.