We know that many of you may have questions about the Russia-Ukraine war, its impact on the economy and ultimately, if your funds are safe at Wescom. We want to assure you that your money is safe at Wescom.
Your deposits are insured up to $250,000 by the National Credit Union Association (NCUA). Wescom is one of the largest Credit Unions in the nation, with more than $5 billion in assets, and we hold ourselves to an even higher capitalization standard than required by the NCUA.
Wescom does not anticipate the current situation in Ukraine to impact the ability for you to access your accounts or conduct your usual banking with us. Additionally, we do not anticipate any impact in our ability to offer our existing loans and deposits to members.
The security of your account is also top priority. Wescom uses the latest technology to safeguard your accounts, which are then monitored 24 hours a day, seven days a week by a team of security experts. We utilize advanced, next generation security detection and prevention tools, regularly test controls and response procedures for continuous improvement, and stay up-to-date on the latest threat intelligence feeds to make sure we are properly prepared to deal with emerging risks.
Since 1934, our goal has been to provide our member-owners with secure and sound access to their funds. Wescom has been serving the needs of Southern Californians through many economic cycles, and we will continue to do so for the next 87-plus years and beyond. Rest assured that your funds are safe at Wescom.
Please continue to visit wescom.org/about-us and follow our social media channels for updates.
