Spencerport Federal Credit Union

Rochester & Monroe County Employees Federal Credit Union offers convenient online banking options, including mobile deposit and online transfers, allowing members to manage their accounts with ease. As a member of the community, the credit union partners with ESL and Summit Federal Credit Unions to provide access to additional ATM locations at no extra cost, ensuring convenient banking services for all members. Generated from their website's infomation

We are a not-for-profit financial cooperative that offers our members products and services for their financial needs. Our financial solutions are affordable because we are member owned and directed. It is our desire to make available the finest financial products at the lowest cost. We have a 43-year history of strength and integrity and total commitment to our members. WIT Federal Credit Union was given a charter in 1962 to serve employees of West Irondequoit school system. That original charter has been expanded, and the credit union of RTS (Rochester Regional Transit Workers Federal Credit Union) merged with WIT in 1984. Employees of West Irondequoit School District Students of West Irondequoit High School You may join the credit union simply by opening an account with a $5 member share account. Once you become a member of WIT Federal Credit Union, you may always be a member regardless of where you live or work. All members of the credit union are entitled to be involved with the management of the credit union by virtue of electing the Board of Directors. As an owner of your credit union, you are eligible for all WIT products, services, and perks. The Credit Union Board of Directors is made up of volunteers elected by the membership at our annual meeting. Directors are elected to serve a three-year term. The volunteer spirit is a defining difference between credit unions and for profit financial institutions. These dedicated volunteers give many hours of their personal time to direct the operations and policies of your credit union. If you are interested in finding out more about volunteer opportunities with your credit union please contact the manager at 454-4580. WIT has a three member volunteer Supervisory Committee. Working within NCUA regulations and direction they hire an outside audit firm to conduct an annual examination of the credit union in accordance with generally accepted auditing standards. The findings of the audit are presented to the Board of Directors. In addition these dedicated volunteers conduct numerous internal audits throughout the year including account verification, loan audits and reviews of internal controls. Deposit Insurance The National Credit Union Administration (NCUA) is an independent agency of the United States Government. NCUA regulates, charters, and insures the nations credit unions. The National Credit Union Share Insurance Fund (NCUSIF), an arm of NCUA, insures the shares in your credit union. NCUA was established by Congress in 1970 to insure member share accounts at insured credit unions. The Fund is managed by NCUA under the direction of a three-person NCUA board. Your share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC). Not one penny of insured savings has ever been lost by a member of a federally insured credit union. Insured credit unions are required to deposit and maintain one percent of their insured shares and deposits in the NCUSIF. The fund is currently at the strongest and best-reserved level in its history. As a member of an insured credit union, you do not pay directly for your share insurance protection. All types of member share accounts and deposits received by the credit union in its usual course of business, including regular shares (savings), share certificates (CD's), and share draft (checking) accounts are insured. The insured amount for a credit union member under current law is $100, 000. Share accounts maintained in different rights or capacities, or forms of ownership, might each be separately insured up to $100, 000. Thus, a member may hold or have an interest in more than one separately insured share account in the same insured credit union. You can find out more about share insurance under insurance regulations in the reference information' section.