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WCF is Safe and Strong

From the President's Desk...

News this weekend of two high-profile bank failures, one in Silicon Valley, California and the other in New York, have generated significant media coverage, and may have some people concerned about the health and safety of their financial institution.  Please keep in mind these banks are extraordinarily large and took significant risks, one with their investment portfolio and the other with crypto currency, both of which have led to their demise.  Rest assured this pair of banks does not represent the actions, risk appetite, or business model of community banks throughout the nation, or more specifically WCF Financial Bank here in Iowa. 

As a community bank, WCF Financial Bank remains well-capitalized, far above the regulatory definition, and is well-positioned to serve our customers and community.  We were chartered 89 years ago and look forward to continuing to serve the residents of Webster City, Independence, Tama/Toledo, and the surrounding communities for many years to come.  As a community bank customer, you have access to our experienced and caring team of employees and officers, and we stand ready to assist you and respond to any questions or concerns. 

Our business model does not involve taking undue risk in our investment portfolio or cryptocurrency assets.  Rather we continue to do what we have done for nearly a full century – accept local deposits and lend those dollars out to local individuals, farmers, and businesses here in our communities.  That business model has served the bank, our customers, our shareholders, and our communities well for many decades, and it will continue to do so into the future.  At WCF Financial Bank we take pride in our relationship-based business model that focuses on building long term trust with our customers.  After all our employees live in the same communities that we serve, and your success is our success. 

No customer has ever lost a penny of FDIC-insured deposits up to the statutory limits.  For customers with questions about their deposit insurance coverage limits, please contact us, or visit the FDIC’s website ( to utilize their Electronic Deposit Insurance Estimator tool, EDIE. 

Finally, don’t allow the actions of large, corporate, risky banks on both US coasts, and the media coverage that has resulted, to cripple you with unfounded fears.  WCF Financial Bank, along with thousands of small community banks just like us throughout the US, operate completely differently than this pair of failed, high-risk institutions.  Your money remains safe with us, just as it always has. 

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