Ownership has its Privileges

When you become a member at WyHy, you also become an owner and ownership has its privileges! Ownership is the foundation for WyHy's success. Being an owner gives you the privileges of lower rates on loans, higher rates on deposits and fewer fees; but even more importantly you receive an exclusive rewards program that no other financial institution offers, SmartPoints.

Ownership also entitles you to help govern how we do business. Simply put, your voice counts! As an owner, WyHy strives to provide you with a high-value of standards and exceptional levels of service and we are committed to doing that every day.

Thank you for your ownership!

The Credit Union Difference

Credit unions were originated in mid-1800s in Europe. Banks were reluctant to lend money to certain individuals or groups, and these underserved consumers pooled their resources and formed cooperatives. Credit unions exist to serve the needs of their members. Credit unions educate members about sensible money management to help improve their financial condition. This service-oriented philosophy is the most significant benefit of credit union membership. Credit unions are organizations of people, not of money.

As part owners, members have the right to vote on decisions affecting the credit union. One member has one vote, no matter if his or her deposit is $25 or $25,000.

Key differences between credit unions and banks:

Credit Unions

Credit unions are managed by volunteer Boards of Directors who serve only to assist the financial health of the entire membership. Credit union members vote in board elections.
Credit unions do not operate for a profit, and therefore do not pay corporate income taxes. Credit unions pay other state and national taxes.
Credit unions, by federal law, must retain a high percentage of capital to protect members' savings, weather tough economic times and fund the ability to grow and better serve members.
Credit unions, as not-for-profit organizations, serve the financial well-being of the member through free consumer education and counseling.

Banks

Banks are managed by boards of shareholders who expect to profit from the customers who use their products and services. Bank customers have no input into the management of their financial institution.
Banks operate for a profit, and therefore do pay corporate income taxes and all other state and national taxes.
Banks can issue stock to raise capital and must retain a low percentage for savings. Banks can grow any way they choose and expand into any market they choose.
Banks can serve any customer in any state, and their growth is not restricted by any government agency.

President's Letter to Members

Revised: June 8^th, 2010

WyHy continues to put you, our owner and your interest's first! We are asking for both your help and request your support for your credit union!

As a WyHy owner, you have a right to know how governmental changes can affect your everyday routine. The Senate has recently passed an amendment to the financial reform bill that will have a significant impact on how you use your debit card. WyHy does not support this legislation, and we would like to explain why.

We do not believe the federal government should decide how much it should cost for stores to accept debit cards, especially if it will force financial institutions to raise the rates on these cards for customers. We also disagree with the amendment because it will give retailers the ability to set minimum and maximum payment amounts, and to discriminate between cards, charging more for one than another. We don't want you to be forced to carry cash, just to avoid being stranded at the register if you can't use your card. We don't want you to have to carry several cards, just to avoid paying more to use one versus another.

Please speak out against this amendment becoming law before it is too late. This is a simple process that should only take a couple of minutes to complete. Please click here to send a letter or email to your Member of Congress. This is time sensitive, make your voice heard.