Whatcom Educational Credit Union
 Logo of WECU since 2018 | |
| Formerly | Bellingham Teachers Credit Union (1936–1975) |
|---|---|
| Company type | member-owned nonprofit (credit union) |
| Founded | 1936 in Bellingham, Washington |
Area served | Washington, U.S. |
Key people | Jennifer Kutcher (President and CEO) |
| Website | wecu |
Whatcom Educational Credit Union (branded as WECU) is a credit union serving Whatcom County and the U.S. state of Washington. WECU is a not-for-profit credit union insured by the NCUA.[1]
History
[edit]The Bellingham Teachers Credit Union (BTCU) was established in 1936, and membership was opened to faculty and staff of what is now Western Washington University. In 1972, BTCU opened to faculty and staff of Whatcom County Community College (now Whatcom Community College). Bellingham Teachers Credit Union was renamed Whatcom Educational Credit Union in 1975.[2]
At the end of 2015, WECU broke $1 billion in total deposits.[4] With growth continuing, in 2018, WECU underwent a major rebranding.[2] In this rebrand, WECU began primarily using the acronym form of their name to emphasize WE.[5] The logo was changed during the rebrand, replacing the former "flying W" logo which had been used for roughly 50 years.[6] In an effort to give back to their community, WECU donated $25,000 towards early childhood education during the rebrand.[7]
WECU's mobile banking was revamped in 2018, but satisfaction in the app was low. In 2023, American Banker reported that WECU had improved their app experience, which raised customer satisfaction levels, resulting in a higher loan volume and an increase in WECU's net promoter score.[8]
WECU has continued their commitment to community throughout their existence.[9] For example, WECU partnered with Bellingham Public Schools in 2023 by providing learning spaces for students within their branch locations.[10] In 2024, WECU expanded their existing partnerships with Bellingham-based sports franchises by sponsoring the Western Washington Vikings and the Bellingham Bells.[11][12]
Governance
[edit]As a credit union, WECU is nonprofit and member-owned, serving as a financial cooperative.[13][14] WECU uses board governance, including a board of directors and a supervisory committee.[15] Since 2014, Jennifer Kutcher has been President & Chief Executive Officer of WECU, the highest position in the institution.[16]
References
[edit]- ^ "About WECU". WECU. Retrieved June 21, 2024.
- ^ a b "A history of WECU" (PDF). WECU. Retrieved June 21, 2024.
- ^ "WECU launches a new look today". Whatcom News. July 23, 2018. Retrieved June 21, 2024.
- ^ Gallagher, Dave (December 18, 2016). "Another strong year for Whatcom's largest credit union". The Bellingham Herald. Retrieved June 21, 2024.
- ^ "The WECU Rebrand". WECU. Retrieved June 21, 2024.
- ^ Hamann, Emily (August 15, 2018). "WECU unveils new logo, first rebrand in 82-year history". BBJ Today. Retrieved June 21, 2024.
- ^ "WECU begins big rebranding project". 1170 KPUG-AM. July 23, 2018. Retrieved June 21, 2024.
- ^ Cross, Miriam (June 14, 2023). "Jack Ingram's tech moves led to spike in customer satisfaction at WECU". American Banker. Retrieved June 21, 2024.
- ^ "Commitment to Community: Whatcom Educational Credit Union (WECU)". Sustainable Connections. Retrieved June 21, 2024.
- ^ Showalter, Rachel (September 15, 2023). "WECU neighborhood branch becomes larger space for Bellingham Schools' special needs program". The Bellingham Herald. Retrieved June 21, 2024.
- ^ Luhr, Aiden (February 1, 2024). "WWU hosts first WECU Night of the year". The Front. Western Washington University. Retrieved June 21, 2024.
- ^ "WECU and Bells Renew Partnership". WECU. May 10, 2024. Retrieved June 21, 2024.
- ^ "CU Difference". WECU. Retrieved June 21, 2024.
- ^ "About Us". WECU. Retrieved June 21, 2024.
- ^ "Board Governance". WECU. Retrieved June 21, 2024.
- ^ "Jennifer Kutcher". WECU. Retrieved June 21, 2024.
External links
[edit]- Official website
- WECU – Bellingham.org