It’s Here!
Introducing our NEW Online Banking and Mobile App
SignetFCU-Mobile
Bank where you’re in charge, when and where you want to.
Signet ALERT: Help Us Take Action Today!
We need your help to protect the future of your data.
There are potential New IRS Reporting Provisions making moves in Washington. Policymakers have proposed that financial institutions be required to report additional account holder information in an enhanced annual I.R.S. Form 1099-INT. Beginning in 2023, the Administration hopes that the IRS will be able to use this information to increase tax compliance and thus raise federal revenues.
Credit unions, banks, and other entities would be required to annually report to the IRS the gross inflows and outflows of account holders (businesses and individuals) with a breakdown for cash, transactions with a foreign account, and transfers to and from another account with the same owner. These requirements would apply to savings, transactional, loan, and investment accounts.
What does this mean for you? This initiative will be difficult for any financial institution and most likely expensive for credit unions like ours. Your money would potentially need to go toward additional technology upgrades, staff training, etc. But, more importantly, this event would undermine your privacy and trigger significant data security concerns.
Let your voice be heard! #keepmybankingprivate #bankwhereyoureincharge
It’s Here!
Introducing our NEW Online Banking and Mobile App
Bank where you’re in charge, when and where you want to.
Why Signet?
You Own the Credit Union
Yes, you read that right. As a not-for-profit financial institution, we are not owned by shareholders or investors. We are owned completely by you, our valued members.
We Work for You
The perks of being a non-profit means we don’t have to bend to large corporate interests. Your interests are our interests, and that’s that. We work for you and no one else.
Your Money Stays Here
We’re a regional institution with seven branches in the western Kentucky area. Your money stays here, in the community, and goes toward creating lower interest rates and new branches.
Learn More About Signet
Start saving with Signet today!
