People Helping People.

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Credit Union Office

448 Harding Avenue
Morgantown, WV 26505
Voice: (304) 293-5737
Fax: (304) 293-7018

Office Hours: 9am – 4:30pm Monday – Friday

The WVU Employees' Federal Credit Union was chartered as a not-for- profit organization by the National Credit Union Administration (NCUA), a Federal agency, on October 12, 1961. The Credit Union is owned entirely by its members and is operated for them exclusively. The philosophy of "people helping people" is carried out by its savings and lending services. Members' savings provide the lending funds.



Federally Insured
NCUA share insurance protects each depositor against liquidation or bankruptcy of the Credit Union up to the maximum of $250,000. Credit Unions approved for NCUA insurance must meet high standards. Adherence to these standards is determined regularly by federal examiners.



Payroll Deductions and Direct Deposits
Members are usually able to have deductions made from their paychecks for savings, loans, Christmas clubs, and Share Draft Checking Accounts. The lump sum deduction is divided according to the desires of the member and the terms of the note if a loan is involved. Members can also request employers to electronically deposit paychecks into Credit Union Accounts. Payroll deductions and direct deposit can be used together. For example, a member could have payroll deductions for a Christmas Club account and a loan payment, with the balance of their paycheck electronically deposited into a checking account. Direct Deposit from any source can be deposited into any Credit Union account. Our routing number is 251579102.



Dividends
Credit union earnings are returned to members in the form of lower interest rates on loans and higher returns for monies on deposit. Member earnings on shares are called dividends rather than interest. Dividends will be paid quarterly on the last day of March, June, Sept. and December. All dividends are credited to members' accounts and unless withdrawn will remain to earn future dividends. Dividends are earned on an average daily balance.



Board of Directors
The Board of Directors is responsible for ensuring that the Credit Union fulfills its key purposes: encouraging thrift, making member loans at reasonable rates, and providing excellence in member service. The Board sets the general direction of the Credit Union in the form of policies. It also guides the Credit Union in following federal and state credit union laws and governmental regulations, as well as ensuring the Credit Union's adherence to its bylaws. Board members serve 3 year terms without compensation. As part of a democratic cooperative, they are elected by the membership, from the membership, at the annual meeting in May. All members have an equal vote in this election.