The credit union has numerous safeguards and insurance programs to assure security and safety of your money.
1. Safety Guaranteed Effective 10-03-08: Each depositor is insured to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), a U.S. Government agency.
2. Reserves: Wichita Falls Teachers Federal Credit Union maintains an adequate amount of reserve funds for bad debts and emergencies. This assures a sound and strong credit union operation.
3. Assets Protected: A blanket insurance bond protects the credit unions assets against fire, theft, fraud, robbery, etc.
4. Audits: The Wichita Falls Teachers Federal Credit Union board of directors appoints a supervisory committee to audit the credit unions actions, investments, loans, accounting procedures, etc. throughout the year. The committee also hires a professional auditing and accounting firm to annually audit credit union records and proper handling of funds.
5. Strict Regulations By Law: Wichita Falls Teachers Federal Credit Union’s operation is periodically examined by the NCUA to verify compliance with federal law. If you don’t belong to Wichita Falls Teachers Federal Credit Union, join today! Use your membership often, and pass along the benefits to your family and fellow school employees.