Frequently Asked Questions

Hello and welcome back to the MCCU blog. Throughout the week, MCCU employees answer various questions about our products, account balances, and locations. This week, we are going to answer the most frequently asked questions in order to allow our members to have a better experience at our credit union.

 

1.) What is your minimum balance?

• The minimum balance to open a savings account is $5. The $5 is the membership to the credit union and is returned to each member if/when they close their account.
• There is no minimum balance required to open up a regular checking account.

2.) Are checks free?

• When you first open up a regular checking account, 8 starter checks are included.

3.) Do you participate in shared branching?

• We do not participate in shared branching, but do participate in the co-op, and offer ATM service free of charge if you are a member of another credit union that also participates in the co-op.
• To find which ATMs near you participate in the co-op, visit http://co-opcreditunions.org/locator/?loctype=AS and find which locations provide surcharge free access to your money.

4.) What's my balance?

• We are always happy to provide members with their account balances free of charge whether that be over the phone or in person. However, there are additional methods for members to check their balances themselves.
• Online banking is free and secure. You can check balances, transfer funds, and pay bills.
• New! Mobile App: This gives detailed accounts about your savings, checking, and status of checks.
• Mobile Money: if you are enrolled in Mobile Money, you can have text alerts set up and have your account balance and history sent via text. 

5.) Do you have other branch locations?

• Yes, we have a Battle Creek branch, which opened in 2008, in addition to our Marshall branch, located at: 1157 East Michigan Ave, Battle Creek, MI 49014.

 

"I'm a big advocate of financial intelligence."

--Daymond John: entrepreneur, investor, author

 

 

 



Is Your Retirement On Track?

 

Good morning! This week, MCCU had the chance to sit down with a friend from CUNA Mutual Group, and talk about how to save for retirement. She had a lot of good information, from the amount you should put in, to the biggest mistakes people make when planning for retirement. It can be easy to get off track when saving for retirement, but when you have some help, and a set goal, it can be managed. Here are the highlights:

The 5 biggest mistakes people make with their 401(k)

1.    Not having a set plan for retirement:

 

• Without a plan, it is hard to know how much to save for the future. Having a goal about how much you want to live off of is crucial for starting your investment in your future.

2.    Making early withdrawals:

 

• Withdrawing from your 401(k) should be a last resort. When you withdrawal from your retirement savings, you cheat yourself out of already saved money, and the compound interest that comes with it. When you switch jobs, do not cash in your 401(k). Instead, transfer the money to your new job’s 401(k), or put it into an IRA (Individual Retirement Account).

3.    Taking out a loan:

 

• Borrowing money from your retirement funds means you have taken money away from your future self. If you miss a payment and are under the age of 59 ½. If the loan is not paid back in the allotted years, it is subject to penalties and income tax.

4.    Not diversifying, or diversify too little:

 

• Spreading out your money means you have different rates and better chances of growing your money. Putting all of your money into one investment is risky business.

5.    Not re-balancing your investments:

 

• Money changes over time, and if you don’t annually check your balances, your retirement plan may get off track. Make sure your money is where it will earn the most growth.

In any case, matching what your employer puts into your 401(k) is a good idea, and may even be required. You can always put a bigger percentage than what your employer does depending on how much of your paycheck you’re willing to give up. In any case, you need to be your own advocate for your retirement. Talk with a financial advisor to see how much you should be putting into your retirement fund based on when you want to retire.

 

"Time is key to building your financial security."
--Suze Orman: author, financial advisor, motivational speaker

 

 

 

MCCU Mobile App

Exciting news for MCCU Members! We’ve officially launched our new Mobile App! With the App, you can:

·         Check balances

·         See transaction history

·         Make transfers

·         Deposit Checks

·         Find the nearest branch and ATM

It is safe, easy to use, and available 24/7. Just head to the Apple or Android App store and download it for free. Just search: Marshall Community Credit Union. If you’re not already an online user, you’ll need to enroll first by going to our website:

http://www.marshallcommunitycu.com/eservices/online-services/mobile-money.html

So, check it out and let us know what you think! We even have tutorial videos on using and downloading the App.

 

 

 

"Watch your finances like a hawk."

--H. Jackson Brown, Jr.: American author

 

 

Beat the Heat: Tips for staying cool at home

Hello everybody, I'm back with some tips for beating the heat. I know it hasn't exactly been the warmest summer with all the rain, but it is supposed to warm up in the next couple of days. It can be tricky to stay cool without spending a fortune running your air conditioning all day long. That's where I come in. I have found many different ways to help you keep cool while saving you money, so you're ready when the rain decides to stop.  

 

1.    Keep it closed: Pulling your curtains closed will keep the cool air in better by preventing the sun from entering the room.

2.    Ice air conditioner: Grab a bowl of ice and place it in front of the fan for a cool breeze. This will be better than blowing the hot air around.

3.    Skip the dryer: Any appliances that give off heat will make your home warmer. Instead, try air drying your clothes.

4.    Know your fabric: Wear the dry wick clothes. This is a type of fabric that captures moisture, and moves it away from your skin. This will keep you cooler and drier. Otherwise, wear lose fitting clothes to help catch a breeze.

5.    Let your feet out: Putting on socks and shoes trap the heat in. Let your toes breathe by wearing sandals or flip flops.

6.    Drink water: This is important. The body loses a lot of water on warm days. Keep cooled down by drinking more water than normal. And try to stay away from caffeine as it will make you feel even more run-down on warm days.

7.    Give your stove a break: Warming up the oven or stove will add heat. Try grilling outside or making a cold meal.

8.    Turn on the water: Take a cold shower to cool yourself down, or turn the water on outside and run through the sprinkler.

9.    Aloe Vera: This has natural cooling and soothing properties that will allow you to stay cool with the warm sun. Applying this will keep your skin cooler.

10. Spices: These will add extra flavor to your food, but adding spicy ingredients will make you hotter. Try to use a more mild spice when it’s warmer outside.

11. Heat rises: Try to stay in the coolest (lowest) part of your home. This will make it anywhere from 5-15 degrees cooler.

12. Eat the treats: Eating cold food like ice cream can be delicious and keep your temperature down.

13. Stay in the shade: If you want to be outside, take a break from the sun and relax in the shade.

14. Night Breeze: It is generally cooler at night than during the day. Cool off the house by opening your windows and letting the cool air circulate. Plus, it will help you sleep better.

15. Use a wet cloth: Place a cool, damp cloth on your forehead or around your neck. This will lower your body temperature and keep you cooler during the day.

 

 

"Thoughtful financial planning can easily take a backseat to daily life"

--Suze Orman: American author, financial advisor, motivational speaker

 

Affordable Summer Fun

 

Welcome back to the MCCU blog. Edmund here. We all want a little break now and then, but it is hard to find a place to go or take the family that won’t break the bank. So, this week I found some fun, inexpensive places and activities in Michigan that are great to do in the summer. Michigan is full of state parks, beaches, camp grounds, and much more. Picking the right one for you and your family is the hard part. Here are just a couple of the fun activities to choose from:

1.Sleeping bear dunes:

Sight see at one of Michigan’s beautiful state parks, and see if you can make the climb up the big dune.

 

Park entrance pass $10.

 

http://www.sleepingbeardunes.com/

2.    Go camping, fishing, kayaking, hiking:

 

Prices may vary.

3.    Movies on Deck:

Climb aboard the USS LST 393 (ship) in Muskegon, and enjoy a free movie screening.

           Movies run almost every Friday and go into late August.

 

           http://www.lst393.org/events/calendar.html

4.    Michigan’s Adventure:

An amusement park and water park in one provides all day fun for the family.

Admission $32

 

https://www.miadventure.com/

5.    Frederik Meijer Gardens:

Explore the beautiful gardens and sculpture parks and visit the butterfly atrium.

Located in Grand Rapids

Admission $12

 

http://www.meijergardens.org/

6.    Detroit Institute of Arts:

Enjoy the sculptures and paintings of many different cultures.

Admission $7

 

http://www.dia.org/

7.    Dow Gardens:

Enjoy 8 acres of scenic land.

Located in Midland

Admission $10

 

http://www.dowgardens.org/

8.    Thunder Bay National Marine Sanctuary:

Nicknamed “shipwreck alley,” this sanctuary protects the underwater treasures.

Located in Alpena

Free and open year round.

 

http://thunderbay.noaa.gov/

9.    Mackinac Bridge:

Take a trip across the historic bridge into Michigan’s Upper Peninsula.

Bridge Fair $4

 

http://www.mackinacbridge.org/fare-schedule-9/

10. Grand Haven Musical Fountain:

Held on Fridays and Saturdays, come and enjoy a musical light performance in the waterfront stadium for free.

 

           http://www.grandhaven.org/visitors/musical-fountain/

Even if you don’t want to travel very far, there are some more local options that are just as fun:

1.    Kids-N-Stuff:

Check out this interactive experience for the whole family. With hands on exhibits that encourage discovery and imagination.

Located in Albion

Admission $6.50

 

http://www.kidsnstuff.org/

2.  Binder Park Zoo:

Take a trip to Wild Africa and feed the giraffes!

Located in Battle Creek

Admission: $13.50/adults, $11.50/kids 2-10, Free/kids under 2

 

http://www.binderparkzoo.org/

3.  Cascade Falls:

Enjoy the illuminated musical waterfall performance every night, for free!

Located in Jackson

 

http://www.co.jackson.mi.us/departments/Parks/parks_description/cascade_falls_park.asp

4.    Leila Arboretum:

Stroll through the beautiful gardens.

Located in Battle Creek

Admission $12

 

http://www.lasgarden.org/

5.    Air Zoo:

Visit the Aviation History Museum and watch your kids have high flying adventure.

Located in Portage

Admission $18.50

 

http://www.airzoo.org/

 

 

“A good financial plan is a road map that shows us exactly how the choices we make today will affect our future.”

--Alexa Von Tobel: founder and CEO of LearnVest.com