Protecting our Not-for-Profit Credit Union
By becoming a member of Wichita Federal Credit Union, you made the smart choice to protect your family’s financial future.
Wichita Federal Credit Union (WFCU) is a not-for-profit financial cooperative owned by members like you who live, work and worship in our community. Your credit union pays its fair share of taxes, including property, sales and payroll taxes. Because we are not-for-profit and owned by our members, credit unions are exempt from the state Privilege Tax. This is a tax that for-profit banks pay on the profits they generate for their stockholders.
We don't answer to Wall Street investors or worry about generating returns for stockholders. Credit unions are invested in local communities and local businesses - not in the stock market. Our only concern is providing high-quality services and products to our members at the most affordable rates possible. That’s why we return any gains to you through lower interest rates on loans and higher rates on savings.
The for-profit banks don't like our member-driven cooperative model. They are afraid of consumer competition from credit unions and of our commitment to helping grow the middle class, unlike their singular goal of padding banking industry profits. That’s why the bank lobbyists in Topeka have launched an attack on credit unions and our not-for-profit cooperative structure. Here is a place to learn more about the credit union difference.
Now, if we want WFCU to stay strong and protect our families’ financial futures, we have to ensure credit unions stay top-of-mind for lawmakers in Topeka. Elected officials hear from bank lobbyists all the time. To match them, we must all step up and tell our state legislators the credit union story, that credit unions are a consumer’s safest and best option in financial services, and the strongest advocate for the middle class.
Nothing is more powerful to elected officials than when they hear from their constituents. Your voice, as a credit union member, is more effective than any bank lobbyist, period. To that end, you will be receiving periodic updates and opportunities to share your views about credit unions in the months ahead. As always, your privacy is our top concern and you can opt out at any time. Thank you for being a member of Wichita Federal Credit Union. Take your membership to the next level by helping us fight for the protection of credit unions. As one of 679,000 Kansas credit union members across the state, your opinion matters. Tell us why you became a credit union member by sending an email to: email@example.com with the subject line: "Protect Our Credit Union". Thank you for your continued membership and support.