August 24 – David Woods named Interim President of Winchester Federal Bank
After the unexpected death of Richard French McCready, Jr., President of Winchester Federal Bank, the Board of Directors named David Woods, formerly Senior Vice-President of Lending, as Interim President. David has been at the Bank since 1972 and has been instrumental in its growth. The Board has complete confidence in his leadership and that of his fellow colleagues at the Bank.
To his fellow co-workers, David said, “I’m honored to serve as the Interim President. It will take all of us to fill Richard’s shoes. This will be a team effort.”
In an internal memo distributed on August 23, his widow, Jane H. McCready, and his daughters, Sarah McCready Boston and Louise F. McCready, emphasized their father’s respect and trust in the Bank’s employees, as well as, their own dedication and commitment to Winchester Federal:
“For seventy-seven years, this has been a community bank. Richard intended Winchester Federal to continue as a family-run institution serving central Kentucky, and we plan to honor his wishes.”
Richard grew up at the Bank. Both of his parents, Dolly T. and Richard F. McCready, worked there since its founding in 1934. His mother kept the books for sixty-five years, until the age of ninety-five; his father served as Executive Vice-President from 1934 to 1977 and as President from 1977 to 1987.
Richard joined Winchester Federal in 1977, and succeeded his father as President in 1987. Among his many accomplishments, Richard opened the bank branch in a temporary building on the Bypass Road in 2002, with the grand opening of the new branch to follow in 2006. The Bank’s assets grew nearly seven times during Richard’s tenure.
Richard will be sorely missed by all of the employees at Winchester Federal, but the integrity with which he led the bank will be an inspiration to all who remain.
March 1, 2011 – Welcome Home Program
Winchester Federal Bank is now offering the Welcome Home Program spons
ored by The Federal Home Loan Bank of Cincinnati. Welcome Home grants are used to fund reasonable down payments, closing costs, and credit counseling fees incurred in conjunction with the acquisition or construction of owner-occupied housing by low- and moderate-income homebuyers. The grants are limited to $5,000 per homebuyer, and the funds are offered on a “first-come, first-served” basis.
If you interested in buying a new home, contact Debra Teater at our Bypass Office (859-744-1939).
February 28, 2011 – NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.
The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
July 21, 2010 – FDIC Insurance Coverage Permanently Increases to $250,000 Per Depositor
Today, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which, in part, permanently raises the current standard maximum deposit insurance amount to $250,000. The standard maximum insurance amount of $100,000 had been temporarily raised to $250,000 until December 31, 2013. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category.
April 6, 2010 – Phishing
Be on guard against a phishing attack! A phishing attempt is an e-mail purporting to be from a bank such as Winchester Federal Bank or another important organization that asks for your user name or password or to send money or to give your debit card number and PIN.
Anti-spam software remains crucial to protecting yourself no matter what type of computer you use. Always use anti-virus software and ensure that the virus signatures are automatically updated. Ensure that the computer operating systems and common software applications security patches are installed.
To identify a phishing attack:
- Roll your cursor over any URL sent in an e-mail to reveal where it really goes.The text displayed may be completely different than the actual destination.
- Beware any URL that is excessively long or uses numbers (such as 192.155.12.38) instead of a traditional URL.
- Never open e-mails that don't include your actual e-mail address in the To: line. Fakes are often addressed en masse to dozens of random e-mail addresses that you won't recognize.
- Look for anything amiss in a message — broken images, typos, strange layouts.
If you have received an email such as this, please delete it or forward it to info@winchesterfederal.com with the subject “Phishing Email.” You should never click on the link and fill in the information.
If you do follow the link in a phishing email and provide information, please contact Winchester Federal immediately at (859)744-1900 or (859)744-1939.
Please remember that Winchester Federal Bank does not send out unsolicited e-mails that ask for personal information. Additionally, Winchester Federal does not ask people for the PIN numbers, passwords or similar secret access information for their debit card or other accounts. If you get this sort of e-mail appearing to be from the Winchester Federal, you should assume that it is fraudulent.
