The West Virginia Public Employees Credit Union, also known as the “The State Credit Union” was chartered in 1981 to serve exclusively the “State” employees. Members must meet eligibility requirements which can be found under “information”. Therefore, by not being open to the public, the credit union is able and willing to provide individual service for all members. The credit union is regulated by the West Virginia Division of Financial Institutions and the National Credit Union Association (NCUA). Just as banks have FDIC insurance of $250,000, the NCUA provides coverage of up to $250,000 for credit unions. The credit union does not have shareholders and is considered a non-profit organization that is not driven by profits. Profits are returned to the members in the form of higher dividends on deposits and lower interest rates on loans.
The privilege of joining the credit union is truly an “employee benefit” and your participation continues to grow and prosper. Member support over the years has allowed us to provide up to date products and services that compare with larger institutions. The State Credit Union is one of the largest member-based credit unions in the state and has remained safe and sound and is considered “well capitalized” under financial standards. Thus, the State Credit Union is considered the primary financial institution for thousands of state, county, municipal employees and their families. Officials for the credit union are elected by the membership annually. All officers and committee members are volunteers and only employees are paid. Assets exceed $80 million and members exceed 8,500 throughout the 55 counties. If you’re not already a member, you owe it to yourself to review the benefits available. We’re Your State Credit Union!