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FAQ

questions?

Current savings rates are:

  1. WHAT IS IT?
    The Williamsport Teachers Credit Union is an incorporated, cooperative owned and controlled by its members. Its purpose is two-fold (1) to promote thrift by encouraging its members to save money regularly through savings; (2) to provide a convenient source of credit by lending money at a fair rate of interest to its members.

  2. WHAT IS ITS LEGAL STATUS?
    Its organization and function is by authority of Act No. 260 of the Pennsylvania legislature, approved May 26, 1933. It is under the jurisdiction of the State Department of Banking which performs an annual audit.

  3. WHO MAY JOIN?
    Employees of any educational facility within Lycoming County and any association of such school employees, and employees of the Pennsylvania College of Technology may join. Family members residing in the member’s household are also eligible for membership.

  4. HOW CAN I JOIN?
    An eligible person makes an application to the manager by means of a properly completed application card and purchases one or more shares at $5.00 per share (plus a $.50 membership fee which is paid only once). Only persons owning a full share participate actively as members. Checks should be made payable to the Williamsport Teachers Credit Union. Payroll forms are obtained from and returned to the manager at the credit union office.

  5. OTHER SERVICES:
    • We offer certificates of deposit at a competitive rate. The minimum deposit is $500.00. Maturity lengths offered are 180 days, one year, or two years. Dividends are paid semi-annually and directly deposited into the regular savings unless otherwise requested.
    • Christmas Clubs. These can be started at any time. Checks must be requested and can be withdrawn any time.
    • Vacation Clubs, These can be started at any time and withdrawn anytime.
    • We offer free notary services to members.
    • Direct deposit/withdrawal through the Automated Clearing House (ACH).

  6. HOW MUCH CAN A MEMBER INVEST?
    The present share limitations (set by the Board of Directors) is $250,000.00 per member. Parents may also take out trust accounts for minor children. Payroll deduction is available for savings. Deposits can be made directly at the credit union office.

  7. HOW CAN I WITHDRAW MY MONEY?
    Money can be withdrawn upon written notification. If the demand for withdrawal is greater than funds available, withdrawals shall be paid in the order received as funds become available.

  8. ARE DIVIDENDS PAID ON SHARES?
    Yes, dividends are paid quarterly based on the average daily share balance. This rate can be changed at the discretion of the board. Savings accounts are fully insured by the National Credit Union Association.

  9. WHAT LIABILITY DOES THE SHARE HOLDER ASSUME?
    None, other than the obligation assumed when subscribing to shares purchased or when taking out a loan; that is the purpose of incorporating.

  10. HOW IS A LOAN MADE?
    Upon completion of a two-week membership, a loan application may be obtained from the manager, completed, signed and returned. It is then referred to the Credit Committee for approval. Loans are granted when monies become available. Loan applications should be filed early because there may be a waiting list for loans.

  11. HOW ARE PAYMENTS MADE?
    Whenever possible loans are paid through payroll deduction. Your monthly payments is divided equally between your two monthly payroll checks. You may pay additional amounts on your balance at any time you wish to reduce repayment period and interest.

  12. CHANGE OF ADDRESS?
    Members should immediately notify the manager upon making any change of mailing address and/or telephone number.

  13. STATEMENTS ARE MAILED QUARTERLY TO EACH MEMBER
    LOOK FOR IMPORTANT CREDIT UNION MESSAGES ON YOUR STATEMENTS

FAQ

News and Promotions

*Fraudsters posing as bank workers may ask you for login information, including your personal information. WTCU will never text or call to ask for this confidential information. *

Fall hours begin Monday, August 18.

We will be open Monday-Friday 9AM-5PM

Williamsport Welcomes the World! Welcome Little League. 

Now is the time to open a Christmas Club account with us. Be ready when the holidays get here! 

Sign up for online banking here on the homepage! Get access to all of your account information easily, transfer money to make loan payments, and even link multiple accounts. Call us for more details. 

 

 

 

 

 

 

 

 

 

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