Why WyHy
At WyHy, we look at managing finances differently.
At WyHy Federal Credit Union, we're more than just a financial institution—we're a not-for-profit financial cooperative. This means we don’t have customers; we have member-owners. As a cooperative, WyHy exists solely to serve its members, who are also the owners. This unique structure allows you to not only access essential financial products and services but also to actively participate in the governance of the credit union by electing and voting for our Volunteer Leadership.
Unlike traditional banks that focus on profits for outside investors, WyHy reinvests its surplus revenue back into the membership. This results in lower loan rates, higher returns on deposits, and fewer fees for our members. Our democratic approach ensures that the credit union is a potent economic force that benefits not only our members but also the vibrant communities and the state of Wyoming that we serve.
WyHy offers distinctive products and services tailored to meet the individual needs of our members. From our Smart Points rewards program to the Credit Builder Auto Loan, we provide innovative solutions that enhance your banking experience.
Our dedication to the community is fundamental to the WyHy difference. The WyHy team is actively involved in sponsoring, volunteering, and donating to numerous local causes throughout the year. Our community support includes partnerships with Food Bank of Wyoming, Jason’s Friends, United Way, Cowboys Against Cancer, Rock Springs Little League, and many other organizations. By joining WyHy, you become part of a credit union that not only values your financial well-being but also commits to enriching the lives of those in our communities.
So if you’re looking for a banking relationship that can provide you with all the products and services you need, but is also a place you can actually have a strong relationship with and in turn your business mean something to others, then keep learning about us by surfing through our website, give us a call, send us an email, or stop by one of our branch locations. We’d love to get to know you and show you how we can be there for you, just like we’ve been there for so many others for over 70 years.
We Welcome Your Membership
Becoming a WyHy member is easy! Membership is open to:
- Anyone who lives, works, worships, or attends school in Wyoming
- Family members of WyHy members
- Volunteers in Wyoming communities
- Organizations of members
- Businesses and other legal entities located in Wyoming
We make switching from your current financial institution to WyHy as smooth as possible. You’ll be glad you made the change.
Our Promise
To simplify your lifeWork in your best interest
Be your lifetime partner to help you achieve financial success
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
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