Membership

What is West Coast Federal Employees Credit Union?
WCFECU is a state chartered and federally insured financial cooperative which was founded in 1948 by a group of people who realized an advantage to pooling their resources. As a cooperative, we are owned and operated by our members.

How long is membership good for?
"Once a member, always a member." Once you have joined, you may continue to enjoy credit union membership as long as you wish. You may change employers or your state of residence and still be able to take full advantage of the benefits your credit union has to offer.

What are the benefits of membership?
As a West Coast Federal Employees Credit Union member, you are a part owner and member of your credit union. And that means your membership makes a difference in the level of service you can expect from this financial institution. We are able to provide a personal touch not found with profited-oriented organizations.

We are a group of people sharing a common goal - to provide a place for members to "pool" their savings and provide one another with low cost loans.

The interest earned on these loans, in addition to other investments, covers the credit union's operating costs and the financial reserves we are required to keep according to state and federal law.

The remaining monies are returned to the members in the form of additional services, higher dividends on savings and lower interest rates on loans.

As a member-owner you share in the profits and direct the policies of the credit union. And you elect the volunteer officials for your credit union from among your fellow members.

Who can belong to West Coast Federal Employees Credit Union?
Eligibility for Membership in WCFECU requires residence in Sarasota, Manatee, Pinellas, Charlotte, DeSoto and Lee Counties and an Employee or Retiree of the following: US Postal Workers, Veterans, Employees of Local, State, or Federal Government Agencies, Associations comprised of such Agencies, Contract Employees of said Agencies, any person who is a member of an Anabaptist Congregation, Selected Employee Groups and immediate family of any current member.

How Do I Join WCEFCU
You may become a member of our financial co-op by opening a share (savings) account with a minimum of $5. The $5 will be refunded if you choose to close your account.

You must keep a savings account with a minimum balance of $5 to remain a members of WCFECU.

You'll find that we pay more on your savings than most banks will. We can do that because we are not-for-profit.

Just how safe is my money with WCFECU?
Your money is safe with WCFECU. It is insured to at least $250,000 by the National Credit Union Share Insurance Fund, administered and reviewed by NCUA . The state comptroller’s office examiners conduct periodic examinations of your accounts.

We also have an Audit Committee which is responsible for conducting an annual audit. A CPA auditing firm is selected to give a written opinion of our financial condition.