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The State of the Free Checking Account

Recently there has been a great deal written about the end of the free checking account for consumers. Websites, magazines and newspapers have all but buried the free checking account. Luckily, to paraphrase Mark Twain, [...]


When a Great Deal is Not so Great

Recently I was watching television and a car ad came on that just seemed too good to be true. “0% financing for 60 months!” “No money down! Come see us and you can be driving [...]


Stop Saving (Really) And Pay Down Debt

There is no denying that it has been a rough couple of years for dividend rates at financial institutions all across the country. I am constantly asked when savings rates may start to rise again. [...]


State of the Credit Union: Joint Report 2010

A year ago we reported on an economy that was on the ropes, the housing market in a tailspin, unemployment near double digit levels and multiple bank failures. 2010 brought very little change to this [...]


Recipe for Financial Success

It’s hard to believe the 2010 Holiday Season is approaching. One of the comforts I look forward to the most is Mom’s homemade pumpkin pie and peppermint pound cake. Mom’s home cooked meals never disappoint [...]


Overdraft Protection: Is Your Checking Account Protected?

Lately, financial institutions have sent letters to their checking account holders requesting them to opt-in to an overdraft protection plan that will allow debit card purchases or ATM withdrawals to clear the Checking Account, even [...]


Big on Service Not on Risk

In 1953, twenty employees of McLean Trucking Company formed McLean Employees Credit Union, a financial cooperative, to benefit their fellow employees. Their strategy was simple. Create a fair lending and savings environment that respects the [...]


Beware of Credit Card Tricks and Traps

Last year Congress passed the CARD (Credit Card Accountability, Responsibility and Disclosure) Act to protect consumers from usurious rates and unfriendly terms by credit card issuers. The first phase of the legislation took effect last [...]


Joint Report 2009

As we survey the financial landscape after a volatile 2009, we are pleased to report that Members Credit Union fared quite well. In a year in which over 140 banks failed as well as 28 [...]


Is it Time to Break Up With Your Bank?

If you are reading this you are probably already a credit union member, yet your primary financial institution may still be a megabank. So, I ask you, what has your bank done for you lately? [...]