Ask Jack

The Spirit of Christmas Every Day of the Year

Christmas comes but once a year, yet the Christmas Spirit is alive and well all year round at Members Credit Union. Even during the rough economic times over the past twelve months – unemployment remains [...]


We’re Growing, While the Economy Parties Like It’s 1979

In 1979 General Motors (GM) was the largest private employer in the country, with domestic employment peaking at a whopping 618,365. Worldwide, GM employed nearly 900,000 people. That same year, I started work as the [...]


Recession: When Will This Thing Be Over?

Although Yogi Berra spoke the immortal words “It ain’t over till it’s over” in 1973, he just as well may have been talking about the credit crisis that began in the summer of 2008. Americans [...]


Bunk Banks Highlight the Value of MCU

Recent economic turbulence has made it difficult to know where to go or who to trust for your financial services. The stock market is down, people are losing their life savings in Ponzi schemes, and [...]


The Paradox of Thrift? Give Savers a Break!

Recently released government figures reveal what many of you already knew – Americans have rediscovered the importance of thrift. The national savings rate in January jumped to 5% after checking in at around 0% as [...]


Humility, Transparency, and Larry

When I started this blog last year, I had no idea what kind of response it would get from members. Would people visit? Would they comment? Would this turn into a center for discussion, or [...]


Does MCU Award College Scholarship Money?

Today’s “Ask Jack” question comes from Judy in Lenoir, NC: “Does Members Credit Union award college scholarship money. If so, how do we apply?” – Judy, Lenoir Thank you for your question, Judy! This gives [...]


What’s in a Rate?

Today’s Ask Jack question explores the rate environment, and how Members Credit Union sets its rates. Why when the Federal Reserve has hit historical low lending rate of 1% that the credit union raises their [...]


User Question: Retirement Account Investment Losses

I recently received two questions with a similar theme: My 403 b is losing money. i am putting in the max. amount right now w/ employer matching. am i better off leaving this alone or [...]


User Question: Why So Many Cards?

Jack, I am currently an MEMCU member and would like to ask a question. Why does MEMCU have a separate ATM and VISA Debit card and not the combined ATM/ VISA Debit like SECU does? [...]