These are challenging times for the financial
industry, but remember all depositors’ money is insured
up to at least $250,000 and not one penny
of insured savings has ever been lost by a member of a
federally insured credit union. To read more about
the safety of your money at WBVFCU, visit
Notice of Changes in Temporary NCUA Insurance Coverage for Transaction Accounts: All funds in a noninterest-bearing transaction account are insured in full by the National Credit Union Administration through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUA’s general share insurance rules. The term noninterest-bearing transaction account includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends.
To understand how your accounts are
insured by the NCUA click here.
To establish new membership a $5 deposit into a Regular Share Savings Account and a $5 uniform membership fee (charged to join the credit union - nonrefundable) is required. As long as this $5 deposit is maintained, you are eligible for all other services West Branch Valley FCU offers. The $5 must remain as long as any service is being utilized.
After $100 is accrued in your account, you will start to earn dividends based on the average daily balance from the day of deposit to day of withdrawal. Dividends are paid monthly.
Share certificates, commonly called “certificates of deposit”, can be obtained for terms from 6 months to 60 months.
Share certificates are "time deposits" that pay a fixed rate for a specific term. West Branch Valley FCU currently offers share certificates for terms of 6, 12, 18, 24, 36, 48, & 60 months (minimum $500). Rates are very competitive and are subject to change without notice, a higher rate will be paid on share certificates of $10,000 or more. Market rates will be quoted for deposits of $75,000 or more.
Youth Share Certificates are available from newborns
up to and including 17 years of age. The term is 2.5 years with a minimum deposit is $250.
Share Draft Accounts
To better serve you, West Branch Valley FCU has expanded our checking account offerings to include:
Tiered Money Market Savings Accounts: Higher balance will move you to higher dividend rates. This investment savings account offers limited check writing privileges. Federal regulations restrict a maximum of six (6) withdrawal transactions per month. There are moves (deposits) you make into this account. No dollar limits or number of deposits you make, but all withdrawals / transfers are limited to a $1,000 minimum. We are offering a number of free methods to you to access this account. Consolidate your monies from other institutions to maximize your earnings, but a minimum balance of $2,500 is required to earn dividends.
Preferred Checking Account: If you need a higher action (“transactions”), this is a dividend bearing draft (“checking”) account that offers unlimited transactions, especially if you have a large number of withdrawals / transfers. By moving your money into this account type, you gain easy access with our VISA Debit Card. A minimum balance of $500 is required to earn dividends and no monthly fees will be assessed.
Second Chance Checking Account: Have you ever been denied a checking account for bad credit, bankruptcy or past problems with ChexSystems? Our Second Chance Checking Account† is the answer for you! We are now offering a Second Chance Checking Account† for you even if you have been reported to ChexSystems in the past (except where fraudulent activity was reported). With a Second Chance Checking Account† you can easily add money to your checking account, conveniently pay bills online, access ATM’s worldwide, or simply shop and pay with your Visa check card. † Certain terms and conditions apply.
Senior Checking Account: To qualify for this dividend bearing draft (“checking”) account, the primary member must be 62 years of age or older, and the account must have a direct deposit of monies into the account. This account type offers unlimited transactions and a number of free services strategically positioned for you, such as free checks. No minimum balance is required to earn dividends.
Standard Checking Account: No minimum balance is required on this traditional draft (“checking”) account. It offers unlimited transactions and no monthly fees will be assessed. This non-dividend bearing draft (“checking”) account does not require a minimum balance. This type of account offers easy access with our VISA Debit Card.
King-sized Services offered with these accounts: (1) FREE Telephone Transfer utilizing WBVFCU’s TOTAL TELLER system; (2) FREE Internet Banking utilizing WBVFCU’s WBVFCU@Home system; (3) FREE VISA Debit Card (not available with the Tiered Money Market Account type); and, (4) FREE Bill Payment through WBVFCU’s ELECTRONIC BILL PAYMENT system. (NOTE: There are no current plans to assess any monthly or per item fees with the ELECTRONIC BILL PAYMENT system. However, WBVFCU reserves the right to institute a charge for any and all services utilized through its ELECRONIC BILL PAYMENT system.).
Christmas Club Accounts
Save for the holidays with West Branch Valley FCU's Christmas Club Account. You can deposit any amount of money at any time throughout the year via individual deposits or payroll deduction. The funds are transferred at the end of the club year (first week of October) to your share account (01). Your club account also pays higher dividends than the regular share account (01). A $15 penalty will be charged for each withdrawal prior to October 1st of the respective club year.
U Name It Accounts
Save for that dream vacation, wedding or home improvement project with West Branch Valley FCU's U Name It Accounts. Deposit money at any time throughout the year through individual deposits or payroll deduction.
See our Rates & Fees Schedule for more detailed information .