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Wright-Dunbar Area Credit Union (937) 223-1101 Fax (937) 223-8144
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Not for profit, not for charity, but for service.
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Welcome to Wright-Dunbar Area Credit Union
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P.O. Box 17605
Dayton, OH 45417
As the Miami Valley readies to celebrate three of its most famous citizens . . . Paul Lawrence Dunbar, the poet laureate and Orville and Wilbur Wright, the inventors of flight . . . another of its local treasures continues the pioneering tradition of excellence that its namesakes are synonymous with.
Announcing the Wright Dunbar Area Credit Union (WDACU)!
The largest minority owned and operated financial institution in the metropolitan Dayton area. The Credit Union, - a member of the Ohio Credit Union League,National Credit Union League, National Federation of Community Development Credit Unions and Corp One Federal Credit Union- was originally founded as the Corinthian Baptist Credit Union in 1955 with a philosophy of self help and Christian stewardship. The corporation continued to expand and with the 1997 merger of Mt. Carmel Baptist Credit Union and the subsequent acquisition of many other local congregations into our charter, including Macedonia Missionary Baptist, Antioch Missionary Baptist, Solid Rock Baptist, United MBC, New Commandment MBC, Mt. Zion AOH Church of God in Christ, Beth T'Phillah Temple, Highlight Temple- we now boast one of the largest “faith based” financial cooperatives in the area.
WDACU’s mission is to become the primary financial institution of its faith based and community based members by providing a wide array of products and services that meet the special needs of those in our community for housing, education and personal needs. We endeavor to provide the needed financial services to our members which are competitively priced and equally available to all. The Wright Dunbar Area Credit Union is committed to provide the best possible services to its members in a timely and professional manner.
In this modern deregulated and volume driven financial services environment, a person has a virtually unlimited choice of financial products and services at his or her fingertips. With a click of a mouse or the convenience of the neighborhood ATM, virtually any financial institution or investment vehicle is available to the savvy investor who has the time and interest to stay informed on all of the latest happenings. But unfortunately most of us don’t. Realizing this, numerous banks, credit card companies and other financing groups have taken advantage of the recently deregulated business environment by either acquiring existing institutions and/or starting new ones. The local Dayton economy offers a variety of overlapping financial products and services to its consumers. While they all promote themselves as being unique and filling an identified niche, in reality they are all after the same dollar, extol the same corporate philosophy and exist for the same reason. TO MAKE A PROFIT! Be it cash checking for exorbitant fees, high interest mortgage and personal loans, outrageous bank service charges or credit card debt, the goal of a “for profit” business is to extract dollars from its customers. We should also be cautious for these are the same institutions that have historically been accused and implicated in discrimination and unfair business practices against minorities locally and nationally. Denying loans on the basis of race, red lining in the housing markets, and restricted access to business capital are many of the reasons Wright Dunbar was founded back in 1955 by the Rev Perry E. Henderson, Sr. And because many of these same conditions exist today, the need for Wright Dunbar continues in its importance. As the saying goes . . . those of us who do not remember our history, will be doomed to repeat it.
I still can’t figure out why we pay banks monthly service charges to hold on to our hard fought savings? Shouldn’t they pay us!
At WDACU, WE DO!
Because we are a non-profit, any excess income we generate is given back to you in the form of lower interest rates, higher dividends, more services, etc.
Our present focus is to expand our membership to other congregations in our community and promote economic empowerment to the residents of Dayton and surrounding areas. We need the support and encouragement of the entire Christian Community to realize our vision and continue to be a source of community pride.
Whether you are a current of prospective member, civic organization or philanthropic group, there are ways to help:
1. Spread the good news about WDACU by word of mouth! Since 1955, WDACU has strived to support capital investment and financial stability in Dayton’s church based African American community. We have survived the social and economic turmoil of the last half century to stand at the apex of the new millenium as the largest black owned, black operated financial institution in the area. An institution rich in history, tradition and pride . . . we have stood and supported the west side of Dayton for 46 years. Now we ask the community to stand and support us.
2. Join us and encourage others to do the same! Add to the growing membership roster and take advantage of competitive rates on home and car loans, vacation and retirement savings accounts, short term cash flow needs and more. We can match the rates on virtually all financial products and services offered by other institutions in the local area. Look for new and better financial products and services to be released by WDACU in the near future.
3. Volunteer! Come one … come all!
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The CU offers a valuable source for savings and credit for the members. The CU is expanding its purpose so as to meet as many of the financial needs of our members as possible. Important to us is financial education -- not only to persuade people to join our CU and to save and borrow with us, but to use the CU as a source of unbiased, factual information about effective use of money in buying, investing, preparing for retirement, insurance programming and other aspects of family money management.
Frequently asked questions.
1. How do I make deposits or payments to my account?
· Mail to PO Box. The address is at the beginning top of this web page.
· Walk-in office service. See office hours and times at the beginning of this web site.
· Each church will have a designated representative to handle transactions.
2. Is my money secure?
· All member accounts are insured by American Share Insurance (ASI), a private insurer. This national insurance company insures all credit unions that are not federal credit unions. Unlike the banks your deposits are insured up to $250,000.
3. How can I join?
· Complete the membership card and make a deposit of at least $6.00.
· A deposit of $51.00 ensures that no low balance fees will be assessed on your account and dividends will be earned.
· Low balance fees are not assessed on children under 18 years of age.
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You can email our credit union at the following:
wdacui@aol.com
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