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Bank Closed

All branches of WCF Financial Bank will be closed on Monday, October 9, 2023 in observance of the Columbus Day holiday.  All business transacted after 5 pm on Friday will be processed on Tuesday, October 10th.  WCF will resume our normal business hours on Tuesday, October 10th.  

Branches Closing Early

Our Tama branch and Webster City branch including the drive-up will be closing at 3:00 on Wednesday, October 4th to allow for staff training.  These branches will be open for normal business hours on Thursday, October 5th.  

Financing a Car? Dealership financing is not your only option.

By:  Rosario Mendez

Division of Consumer and Business Education, FTC

When car shopping, you shouldn’t be charged more than the advertised price, or more than other people because of the way you look or where you’re from. That’s wrong, dishonest, and illegal. Today the FTC announced a lawsuit and settlement with a dealership and its owners for allegedly doing just that. Now they have to pay $3.3 million to refund people harmed by their actions and change their allegedly deceptive and unfair practices.

The FTC says that Passport Auto lied to customers about car prices: for example, it regularly advertised a car for one price, but charged more when customers went to buy it. According to the FTC, the dealer illegally added additional fees for things that were already included in the advertised price, like certification, reconditioning, and inspection. But the law says they can’t do that.

If you’re in the market for a car, your options may be limited by things like supply or your budget. So that dealerships don’t take advantage:

  • Bring the ad to the dealer. Be sure the dealer honors the advertised price.
  • Shop around for financing. Dealership financing often comes with marked-up interest rates. It’s not your only option. Start with banks, credit unions, and other financing companies.
  • Read the sales quote and financing agreement carefully. Do the terms you agreed on match the ones in the contract? Get answers about any extra fees you don’t recognize.
  • Walk away if you’re not getting what you were promised. You don’t have to take the deal if you’re not satisfied.

Also, says the FTC, the dealer illegally charged Black and Latino consumers more in junk fees and financing markups than White consumers. Markups are charges dealers add on top of the interest rate when they arrange financing. The Equal Credit Opportunity Act makes it illegal to discriminate based on things like race, natural origin, and age, among others.

For more advice on car buying and financing see Report bad business practices when you see them at or in Spanish at

Are you looking to buy your dream car?

WCF Financial Bank has competitive rates without all the drama.  Please reach out to one of our lenders today for more information and to apply for financing.

Brad Cheyne
Brad Cheyne Vice President Lending Webster City (515) 832-1973 NMLS ID: 1206542
Julie Olmstead
Julie E. Olmstead Asst. Vice President Lending Webster City (515) 832-1752 NMLS ID: 2136879
Tricia Rose
Tricia Rose Customer Service Representative Webster City
Stephanie Christian
Stephanie Christian Senior Vice President / Independence Market President Independence (319) 327-8387 NMLS ID: 1852981
Cody Heckenlaible
Cody Heckenlaible Asst. Vice President Lending Independence (319) 327-8388 NMLS ID: 1675076
Kelly Smith
Kelly J. Smith Senior Vice President / Tama Market President / Senior Loan Officer Tama (641) 484-2078 NMLS ID: 535722
Lesa Haughey
Lesa Haughey Customer Service Tama (641) 484-2079 NMLS ID: 1958636
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