U.S. Central and WesCorp are “wholesale” credit unions. They don’t serve individual consumers, but rather provide financing and investing services, check-clearing and additional services for other credit unions. While CECU has no direct business relationship with these corporate institutions, every credit union in the nation has some type of indirect relationship with U.S. Central. For example, the deposit insurance fund that insures your accounts at CECU also applies to these larger corporate credit unions.

Members of CECU need not worry about these recent NCUA actions. Your accounts at the credit union are federally insured to at least $250,000. The credit union is well capitalized…we have set aside millions of dollars in reserves for “a rainy day.” There is no credit crunch at CECU, we continue to make loans to our members. We continue to strive to pay higher rates on savings, charge lower rates on loans, charge fewer and lower fees, and to return a higher percentage of our income to our members than any other credit union in the nation.

Thank you for using the services available at the credit union, and we look forward to serving your financial for many years into the future.