Life Savings Insurance Notice
Effective September 1, 2014, the life savings insurance benefit will be terminating for our members. Letters were mailed out to notify all members who were eligible for the life savings insurance that the benefit is terminating. A copy of this letter is attached.
What made a member eligible?
1. The account had to be open by end of day September 30, 1991. No new member since September 30, 1991, was eligible for the life savings insurance.
2. The account balance had to be maintained at $4,000 for the maximum benefit, if not, the benefit decreased accordingly.
3. No claim was filed if the account balance dropped below $50.
This has no effect on the NCUA federal share insurance at WEPCO. Your funds will still be federally insured up to $250,000.