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“This partnership will help build financial security for more working families and ensure that people of color, immigrants and other underserved groups have access to fair and affordable services to meet their financial needs.” - Randy Chambers, President, Self-Help Credit Union
Merger Press Release - January 1
Our Merger With Self-Help Credit Union
Answers to Frequently Asked Questions
WHAT DO I NEED TO DO AS A MEMBER?
- Nothing, at this time.
- IMPORTANT: Members will not have access to Self-Help CU branches or systems until later this year when our two banking systems are combined into one. We will provide membership with advanced notice of that change.
WILL MY MEMBER NUMBER AND ACCOUNT NUMBERS CHANGE?
- Member and account numbers will remain the same at this time.
- Member and account numbers may change at a later date, with much advanced notice.
WILL DEPOSIT ACCOUNT RATES CHANGE?
- Yes.
- Effective January 1, 2025, WSFCU adopted Self-Help CU’s rates for deposit accounts and new loans.
WHAT CHANGES ARE HAPPENING WITH COURTESY PAY, NSF and RETURNED DEPOSIT ITEMS?
- We will no longer charge for overdrafts (Courtesy Pay), non-sufficient funds or returned deposit items. Look for more information on additional changes to overdraft services in the coming weeks.
- All other fees will remain the same for now.
HOW HAVE DEPOSITS & DEPOSIT ACCOUNTS CHANGED?
- No change (with the exception of new rates and fees noted above).
- WSFCU will continue to offer savings, money market, checking and certificate accounts at competitive rates.
IS THE WSFCU ROUTING NUMBER CHANGING?
No.
WILL LOANS CHANGE?
No change to existing WSFCU loans.
- All existing loan payments, terms and rates will remain the same.
- Existing loan agreements will not change.
WSFCU will continue to offer signature, share-secured and auto loans, home equity lines of credit and first mortgages. Please check-in with one of our financial services representatives if you are interested in borrowing from the credit union.
WILL LOAN PAYMENTS CHANGE?
No.
- All WSFCU loan payments will continue to be processed by WSFCU staff through in-branch, via mail or electronically.
- No changes to how payments are processed.
- Members should continue making loan payments as usual, using WSFCU’s current loan services and contacts and using your current loan payment methods.
ARE CHECKS CHANGING?
No.
- Members should continue using their existing checks.
ARE CARDS AND CARD SERVICES CHANGING?
No.
- Members should continue using existing WSFCU cards and card networks.
IS THE ATM NETWORK CHANGING?
No.
- Members may continue using WSFCU’s existing ATM networks.
ARE ONLINE & REMOTE SERVICES CHANGING?
No.
ARE MY STATEMENTS CHANGING?
No.
ABOUT WSFCU
WILL THERE BE ANY CHANGES TO THE BRANCH & BRANCH STAFF
No.
IS THE CREDIT UNION NAME CHANGING?
Somewhat. We will operate as Winston-Salem Credit Union, a division of Self-Help Credit Union, for now, with no signage change. We anticipate changing our signage and official brand to Self-Help Credit Union sometime in the second half of 2025.
WILL BRANCH HOURS OF OPERATION CHANGE?
- Initially, WSFCU hours of operation will remain the same.
- WSFCU may make changes to our hours to better serve members, but we will be sure to let members know well in advance.
ABOUT THE MERGER
WHEN DID THE MERGER HAPPEN?
- Effective January 1, 2025.
- WSFCU members voted to approve the merger with Self-Help on December 13, 2024.
- View the press release that announced the merger.
WHY DID THE MERGER HAPPEN?
- Mission alignment. WSFCU and Self-Help have a shared commitment to providing economic opportunity to all, with a particular focus on underserved communities.
- Self-Help’s financial strength. Self-Help has substantial financial capacity that enables better priced and more expansive products and services to you, our members.
- Branch network. Self-Help has 37 other branches across five states in the southeast, including 24 other branches in North Carolina that you will be able to access after we merge our core banking systems later this year.
- Enhanced products and services. In addition to many of the services offered by WSFCU, Self-Help offers a full suite of mortgage loans as well as small business, commercial and non-profit lending.
- A focus on mortgage loans. Self-Help originates hundreds of mortgages per year, including low down-payment mortgages that focus on first-time homebuyers.
- View the press release that announces the merger.
- Self-Help CU is very similar to WSFCU in culture, mission and dedication to best serve its members; these aspects, as well as a strong financial position, create a very good partnership.
WHAT CAN YOU TELL ME ABOUT SELF-HELP?
Self-Help is:
- A family of member-owned, mission-driven credit unions.
- A non-profit loan fund.
- A policy advocacy organization.
- Collectively, the mission is to create and protect ownership and economic opportunity for all.
- Visit the Who We Are section of the Self-Help Credit Union website.
WHAT CAN YOU TELL ME ABOUT SELF-HELP CREDIT UNION?
- Chartered in 1983.
- Over $1.86 billion in assets and $1.33 billion in member deposits.
- Serving more than 89,000 members.
- Operates 37 other branches North Carolina, South Carolina, Georgia, Florida and Virginia.
- Visit the Self-Help Credit Union website (self-help.org).
- Self-Help operates another credit union named Self-Help Federal Credit Union that serves members in California, Washington, Illinois and Wisconsin.
IMPORTANT: No access to Self Help CU branches at this time.
WHAT IS THE IMPACT OF THE MERGER ON WSFCU?
- An even better credit union for our members.
- Combining two strong, healthy credit unions.
- Enhanced products, services, and convenience.
- Continued financial stability and soundness.
- A credit union well positioned for the future.
