To the members of WeDevelopment Federal Credit Union
WeDevelopment Federal Credit Union
As we deal with the uncertainty surrounding the events of Silicon Valley Bank, it is important to understand how our money is protected. SVB is working with the Government to protect its customers and each investor. The Federal Reserve has added it will make available additional funding to eligible depository institutions to help assure they can meet depositor needs.
Credit Unions are member-owned not-for-profit financial institutions that accept deposits, make loans, and provide an array of other financial services and products. Deposits are insured by the National Credit Union Share Insurance Fund, managed by the National Credit Union Administration. The Share Insurance Fund insures all accounts of millions of account holders. The standard share insurance amount is $250,000.00 per share owner, per insured credit union, for each account ownership category.
WeDevelopment takes its financial responsibility very seriously to protect its depositors’ funds. Rest assured, we are well-capitalized and use sound investment practices. As a low-income designated Credit Union, we know you work hard for your money and protecting your investment in us is our top priority.
We are grateful that you have chosen WeDevelopment as your neighborhood community credit union.
If you have additional questions, please feel free to send us an email or call us at 816-233-1006
Gwendolyn Washington, CEO/President
To better understand how share insurance works, click the link below.