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Your deposits are safe and secure at WV Central!

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The recent collapse of Silicon Valley Bank has created many questions about financial institutions and whether deposits are safe. We want to assure you that WV Central Federal Credit Union continues to protect your deposits in the credit union.

Deposits are insured by the National Credit Union Share Insurance Fund (NCUSIF) and are insured for up to at least $250,000. Accounts can be structured to provide additional insurance if your balance is larger than $250,000. If you have questions if all your funds are structured to be covered, please let us work with you to protect you as fully as possible.

Please go to https://mycreditunion.gov/share-insurance for more information on the strength of our insurance fund.

As a member of WV Central, you are an owner of our not-for-profit financial cooperative. WV Central was chartered 54 years ago, and we remain committed to our members and our communities. You can be assured that your money is safe and sound.

WV Central lends to members in a safe and sound manner and only invests in investments that are insured or federally backed.

99.3% of our 6,642 borrowers are current on their loans, which creates no risk to our financial stability. At the end of February 2023, our capital/asset ratio topped 12% so your credit union is stable and prepared to handle future markets.

We share this message just to provide information and comfort to our 21,979 members. Your credit union staff and volunteers will continue to work to assure the success of WV Central and our members!

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