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Get to know WesCorp

Western Corporate Federal Credit Union (WesCorp) was one of the largest corporate credit unions in the United States, acting as a "credit union for credit unions." Established to serve the investment, liquidity, and payment system needs of its member credit unions, it held billions in assets. WesCorp's business model collapsed during the 2008 financial crisis due to massive losses in its portfolio of mortgage-backed securities. In March 2009, the National Credit Union Administration (NCUA) placed WesCorp into conservatorship to ensure the stability of the wider credit union system. The entity was ultimately liquidated, with its remaining assets and operations being wound down or transferred.

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WesCorp

United States

Founded in

1969 (57 Years)

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Last online: No recent activity

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BridgerPay

(180 reviews)

Cyprus

2017

(9 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.