Winston-Salem Federal Credit Union

What Winston-Salem Federal Credit Union does

Winston-Salem Federal Credit Union (now Winston-Salem Credit Union, a Division of Self-Help Credit Union) is a federally insured, member-owned cooperative financial institution originally organized in October 1957 under North Carolina state law. The credit union operates from a single physical branch at 711 East Salem Avenue, Winston-Salem, NC, and serves individual members across Forsyth and Guilford Counties, with eligibility extended to employer-partner employees, family of current members, and students at partner schools. Effective January 1, 2025, the credit union merged with Self-Help Credit Union and now operates as a division of that entity, gaining access to 37 branches across North Carolina, South Carolina, Georgia, Florida, and Virginia and a combined 89,000+ member base.

The credit union's product set spans consumer deposit accounts (Membership Share, Share Certificates, Money Market, IRAs, Checking), consumer lending (vehicle loans up to 110% financing, share-secured loans at 6.75% fixed, lines of credit, signature loans, and first mortgages through the Self-Help partnership), and a digital banking stack built on third-party integrations including CO-OP shared branching (5,000+ locations), Zelle P2P payments, CheckFree (Fiserv) bill pay, CardValet debit controls, Elan Financial Services for Visa issuance, and iOS/Android mobile apps. Member deposits are NCUA-insured up to $250,000, and the credit union holds Equal Housing Lender status. Notably, following the merger, the credit union eliminated overdraft, NSF, and returned-deposit-item fees, and adopted Self-Help's deposit and loan rate sheet.

Revenue is generated primarily through net interest spread on loans funded by member deposits, supplemented by transaction fees (now reduced post-merger), investment income on reserves under NCUA regulation, and ancillary services such as Financial Peace University ($93 per enrollment). The credit union's distribution model is hybrid: a single physical branch supplemented by the CO-OP shared branching network for in-person transactions, a mobile and online banking platform for self-service, a call center and voice banking for assisted service, and employer and community organization partnerships as referral channels for new member acquisition. The mission emphasis is on financial inclusion for underserved communities, low down-payment mortgages for first-time homebuyers, and youth financial literacy through programs such as Kirby Kids Club, Claim Your Youth Teen Club, and student-run credit unions.

Name

Winston-Salem Federal Credit Union

Legal name

Winston-Salem Federal Credit Union

Website

https://mywsfcu.org

Company type

Private

Founded year

1957

Operating status

Operating

Headcount range

11–50 employees

Short description

Winston-Salem Federal Credit Union, now a division of Self-Help Credit Union following its January 2025 merger, is a federally insured community credit union serving individual members in North Carolina with deposit accounts, consumer loans, and digital banking, distributed through a single Winston-Salem branch and the CO-OP shared branching network.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending products
• Community credit union
• Deposit accounts
• Mortgage financing

Headquarters

HQ city

Winston-salem

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Loans: The credit union generates revenue primarily through interest charged on loans including vehicle loans, mortgages, personal loans, lines of credit, and share-secured loans. Rates vary based on credit qualifications and loan type.
2. Fee Income: Fees collected from various services including overdraft/NSF fees (being eliminated after merger), ATM fees, wire transfer fees, stop payment fees, and account service fees per the Truth in Savings Fee Schedule.
3. Investment Income: Income generated from investing member deposits and reserves in accordance with NCUA regulations.
4. Share Certificate and Savings Products: Members deposit funds in share accounts, money market accounts, IRAs, and share certificates. The credit union uses these deposits to fund loans and generates spread income.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels7 records

Core offering

Winston-Salem Credit Union is a not-for-profit, member-owned community credit union offering deposit accounts (savings, checking, money market, IRAs, share certificates, club accounts), consumer loans (first mortgages, vehicle loans up to 110% financing, share-secured loans at 6.75%, lines of credit, signature personal loans), and digital banking services (mobile app, online banking, Zelle, CheckFree bill pay, CardValet, voice banking). Following the January 2025 merger with Self-Help Credit Union, members gained access to expanded mortgage, small business, commercial, and non-profit lending capabilities.

Product overview

Winston-Salem Credit Union, operating as a division of Self-Help Credit Union following their January 2025 merger, offers a comprehensive suite of financial products and digital banking services. The core offerings include deposit accounts (Membership Share savings, Share Certificates, Money Market, IRAs), checking accounts with debit cards, and loan products (vehicle loans, first mortgages through Self-Help partnership, share-secured loans, lines of credit, and signature loans). The digital banking platform includes online and mobile banking with integrated services such as Zelle P2P payments, CheckFree bill pay, CardValet card management, direct deposit, wire transfers, and an online account opening system. Youth services include Kirby Kids Club, Teen Club, and Student Run Credit Unions, while additional offerings encompass Financial Peace University courses, Visa gift cards, safe deposit boxes, notary services, and text alerts. The credit union participates in the CO-OP Shared Branch network providing access to over 5,000 locations nationwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Membership Share (Savings) Account Primary savings account required for credit union membership with a $25.00 minimum deposit to establish and maintain membership. Earns dividends and serves as the foundation account for all other credit union services.
• Share Certificates Term deposit accounts offering fixed dividend rates with various term lengths for members seeking guaranteed returns on deposited funds.
• Money Market Account Savings account offering competitive interest rates with limited check-writing capabilities for accumulated funds.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts including Traditional and Roth IRA options for individual retirement planning.
• Christmas Club Account Savings sub-account designed for holiday expenses with automatic savings features.
• Vacation Club Account Savings sub-account for vacation and travel expenses with flexible deposit options.
• Checking Accounts (Share Draft) Transaction accounts with debit card access, direct deposit capability, and overdraft protection options for everyday banking.
• Debit/ATM Card Card providing access to ATMs nationwide with no surcharge at CO-OP network ATMs, plus point-of-sale purchases.
• First Mortgage Loans Affordable home loan options including mortgages offered through the Self-Help partnership, with focus on first-time homebuyers and low down-payment options.
• Vehicle Loans (New and Used) Fixed-rate financing for new and used vehicles, including boats and RVs, with terms up to 110% financing available, with GAP and Warranty also financed.
• Share/Certificate Secured Loans Loans secured by existing savings or certificate accounts at a fixed 6.75% rate, allowing members to borrow while their funds continue earning dividends.
• Lines of Credit Revolving credit accounts accessible for various purposes including home improvements, debt consolidation, and overdraft protection.
• Signature (Unsecured) Personal Loans Unsecured personal loans for various purposes including furniture, appliances, vacations, and debt consolidation, with repayment via payroll deduction for eligible members.
• Online Banking Full-service internet banking platform for account management, transfers, bill pay, statement access, and digital account opening.
• Mobile Banking App Smartphone and tablet banking application for iOS and Android providing 24/7 account access, mobile deposit, bill pay, Zelle transfers, and CardValet card management.
• CheckFree Bill Paying Online bill payment service for scheduling and managing recurring and one-time payments to merchants and individuals, powered by Fiserv's CheckFree platform.
• Zelle P2P Payments Integrated person-to-person payment service allowing members to send and receive money directly to and from bank accounts at participating financial institutions.
• Voice Banking Phone-based banking service (336-748-3500) for account inquiries and transactions using an automated voice response system.
• Wire Transfers Domestic and international wire transfer services for sending and receiving funds electronically.
• Business Deposit Services Deposit account services for existing business members including business checking and savings; the credit union is not currently opening new business deposit accounts but continues to support existing business accounts.
• Kirby Kids Club Savings program for children introducing financial literacy and encouraging early saving habits.
• Claim Your Youth Teen Club Savings and financial education program designed for teenagers with resources for managing money.
• Student Run Credit Unions Educational program partnering with schools to establish student credit unions and teach financial responsibility.
• Financial Peace University Dave Ramsey's 9-week financial education course covering budgeting, debt elimination, and wealth building, offered to members and non-members at a $93.00 enrollment fee.
• Safe Deposit Boxes Secure storage service for valuables and important documents available at the branch location.
• Notary Service Complimentary notary services for members requiring document authentication.

Quantifiable outcome

• Share Certificate Secured Loan rate fixed at 6.75% (Share Secured rate)
• +1 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Self-Help Credit UnioncoreStrategic or Co-development Partner · 1 January 2025Winston-Salem Federal Credit Union merged with Self-Help Credit Union effective January 1, 2025. WSFCU now operates as Winston-Salem Credit Union, a Division of Self-Help Credit Union. The merger combines two mission-aligned credit unions focused on economic opportunity for underserved communities. Self-Help brings $1.86 billion in assets, 89,000+ members, and 37 branches across NC, SC, GA, FL, and VA. Existing WSFCU loans, account numbers, and services remain unchanged. Members gain access to Self-Help's expanded mortgage lending, small business, commercial, and non-profit lending capabilities.
• CO-OP Shared BranchcoreTechnology or IntegrationCO-OP Shared Branch network provides WSFCU members access to over 5,000 shared branch locations nationwide for in-person banking transactions. Members can find shared branches through co-opcreditunions.org/locator.
• Elan Financial ServicescoreTechnology or IntegrationElan Financial Services provides VISA credit card processing for WSFCU members. Credit card login available at myaccountaccess.com. New applications processed through Elan's online portal.
• ZellecoreTechnology or IntegrationZelle person-to-person payment service integrated into online and mobile banking for quick money transfers between bank accounts at participating financial institutions.
• CheckFree (Fiserv)coreTechnology or IntegrationCheckFree bill payment service provides online bill pay functionality through the credit union's electronic services platform.
• CUNA Mutual GroupminorGTM or Marketing PartnerJoint marketing partnership for insurance and other financial services products offered to credit union members.
• KasasaminorGTM or Marketing PartnerJoint marketing partnership for various checking account products and other financial services offered through the credit union.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Alliant Credit Union: Digital-first credit union serving national membership — a benchmark for online account opening, mobile experience, and digital deposit growth strategies applicable to a community credit union adding digital scale.

Others

• CUNA Mutual Group: Existing GTM/marketing partner to WSCU and the credit union industry trade-services and insurance provider — adjacent ecosystem participant rather than direct competitor, useful for sectoral context.

Direct peers

• Local Government Federal Credit Union: North Carolina-headquartered credit union serving public-sector employees with deposit, lending, and digital services — overlaps with WSCU's employer-partnership distribution model and NC geography.
• Truliant Federal Credit Union: North Carolina-headquartered community credit union of comparable scale offering deposit accounts, consumer loans, mortgages, and shared branching — overlapping member geography in the Triad region including Winston-Salem and Greensboro.
• Self-Help Credit Union: Parent credit union and merger partner as of January 2025 — a CDFI-designated, mission-driven credit union serving the same underserved community development mission across NC, SC, GA, FL, and VA, with overlapping product suites in mortgage, small business, and consumer lending.
• Allegacy Federal Credit Union: North Carolina community credit union serving the Winston-Salem and Piedmont Triad region with similar consumer deposit and lending products — directly competing for the same Forsyth County member base.
• Coastal Federal Credit Union: North Carolina-based community credit union offering similar full-service consumer banking products — a comparable SEG/community credit union model operating within the same state regulatory environment.

Broad incumbents

• Langley Federal Credit Union: Federally chartered community credit union of similar mid-tier scale with comparable consumer lending and digital product suite, providing a useful structural and operational benchmark.
• State Employees' Credit Union (SECU): North Carolina's largest credit union with $50B+ in assets and statewide branch network — sets the competitive benchmark for North Carolina community credit unions and competes for similar member households.

Regional players

• First Carolina Credit Union: Member-owned NC credit union serving a similar community-based consumer membership model with deposit, loan, and digital banking services, albeit in a different NC geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/WinstonSalemFCU
• LinkedInlinkedin.com/company/winston-salem-federal-credit-union

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Winston-Salem Federal Credit Union