Thursday, December 29, 2016

Six Steps to Getting Organized for the 2017 Tax Season

Tax day is a mere four months away; it’s never too early to start preparing. The season of the most spending (the holidays) is only just behind us. This is the time when every penny counts. We’ve come up with six steps to getting organized for the 2017 tax season.


  1. The first step to getting organized for tax season is the gather your W-2’s from last year’s employers. Making sure you have all of them is important. Remember to change your address if you have moved to prevent your W-2 from being sent to a new address.

  1. This next step is equally important as the first. ALWAYS keep your receipts. If there is the chance for a reduction, you’ll need those receipts to prove it. Students save your receipts for your books, parking, etc. because you can end up saving a lot if you hang onto them until April.

  1. If completing your taxes seems overwhelming, you should probably consider hiring or consulting with an accountant. Accountants will take the stress off of your shoulders and know the ins and outs of all the possible refunds you are entitled to. The money you spend to hire an accountant could be doubled by all the new deductions you may have missed.

  1. If you’ve recently experienced a significant life change, you could be eligible for more or different tax deductions from last year. For instance, if you’ve recently gotten married, had children, or went back to school, you could receive more returns in 2017.

  1. Do you donate to your local thrift store or do you make contributions to charity? These donations could also help you get more returns in the future. Be sure to document the items you’ve donated in their fair market value and the dates and locations in which you’ve donated. Once you donate, the employees of the organizations will often give you a receipt with the number of bags you donated for your documentation.

  1. Lastly, it’s important to save a hard and electronic copy of your documents. It’s easy to get more returns, but impossible without the correct documentation. We suggest scanning your documents and saving them on your computer during the year to make filing much easier.

Tis’ the season of giving - and your donations could save you money in the Spring. Have a safe and happy holidays from everyone at Mid Minnesota Federal Credit Union!

Monday, December 19, 2016

Credit Unions and Small Businesses Make for a Great Partnership

Are you looking to find business successes in the new year? Credit unions like Mid-Minnesota are excellent at helping small businesses and entrepreneurs establish their financial footing.

A major advantage of choosing credit unions over banks is that credit unions focus on prioritizing the needs of small businesses, not on maximizing profits.

Credit unions typically offer a faster loan approval process. Credit unions are interested in helping you grow. Rather than facing a committee that only provides the loan approval process once or twice a month, credit unions can help streamline the loan approval process, ensuring that you have access to the funds you need much sooner. This can be a major asset if you are looking to start your small business in the new year.
Another advantage of having the support of a credit union on your side is the accessibility to smaller loans. Many banks tend to offer only large loans to businesses, but for small businesses and startups, it is often much more feasible to see smaller loans. Additionally, credit unions typically offer lower interest rates on business loans.

The majority of credit unions provide free checking to small businesses. In fact, according to Bankrate, 72% of credit unions offer free checking. In comparison, only 38% of banks do, and such banks will charge you if you are unable to maintain a strict balance. With the stresses and
unpredictable nature of owning a business, attempting to maintain such a balance would surely be disruptive and demanding.
Credit unions are also invested in helping you grow your business. Many credit unions offer financial education opportunities and resources that can help you find financial stability and success, which are integral from the beginning of a business. Learn how to establish, expand, and market your growing business to keep it competitive and well-functioning in the new year.

For more assistance on applying for a business loan, visit Mid-Minnesota Federal Credit Union’s Business page today.

Friday, November 25, 2016

How to Break Up with Your Bank


Did you know that the end of the year is the most common time that couples break up? People find it important to start the new year fresh and are looking to make a change during this season. And it’s not just couples that break up. People change up their insurance plans, make new resolutions for themselves, and reflect on the things they want to change in their lives. This is why now is the perfect time to break up with your bank.

You deserve to be with a financial institution that understands you. That makes you happy. One that is local in your community. One that understands your goals. And one that treats you like you want to be treated–like you deserve to be treated.

Membership to Mid-Minnesota Federal Credit Union is open to anyone who lives near one of our branches and you can start redeeming the benefits immediately. If you’re tired of all the unnecessary fees and you’re ready to make the switch to a credit union, you’ll want to follow these five steps:
Step one: Find a credit union near you that you are eligible to join. You can apply to be a member of Mid-Minnesota Federal Credit Union here or visit any of our branches to join.

Step two: Close your accounts from your previous bank. Once you have transferred all of your money from your previous bank to your new credit union, it is time to close your old accounts. Be sure to hold onto your closing documents to make sure you aren’t charged any additional fees.

Step three: Learn more about your credit union of choice. Mid-Minnesota is one of over 5,400 Co-Op Shared Branches in the nation that you can deposit, withdraw, transfer and make payments from. We offer investment services, insurance options, WINcentive savings, business solutions and so much more.

Step four: It’s time to shred your old documents. Make sure to shred anything with your old account number or social security number such as your old checkbooks, debit cards, and monthly statements.

Step five is to go PAPERLESS! Online banking is convenient and environmentally friendly. You can check your statements online and save pounds of paper each year.

Now that you have all the steps to make the switch, you’re ready to break up with your bank. Find out more about Mid-Minnesota and the benefits of credit unions on our website, and start the year fresh with a new, healthy relationship with your financial institution.

Monday, October 17, 2016

Mid-Minnesota's newest Branch Location: Aitkin

Mid-Minnesota Federal Credit Union will open its 11th branch location in 2017 after recently purchasing property in Aitkin.

According to MMFCU President Chuck Albrecht, the new branch location will be located at 961 Second Street Northwest in Aitkin and will be a full-service location, complete with a drive-through facility and 24-hour ATM access.

Albrecht said the building will be completely remodeled and is believed to be open in early 2017.

“To see this organization continue to grow and meet the needs of our members and neighbors is exciting,” Albrecht said. “It is an honor and pleasure to extend our reach into the Aitkin community and its neighboring cities, and we look forward to opening our doors in 2017.”

In October 2014, MMFCU’s field of membership was expanded to include the counties of Becker, Norman, and parts of Aitkin County – including the communities of Aitkin, McGregor, and Palisade.

Ashley Warner recently joined Mid-Minnesota Federal Credit Union as the Branch Manager of the Crosby Office and will soon manage our Aitkin location also.
Warner began working in the financial industry in operations and has had experience at a number of financial institutions in a variety of roles. As Branch Manager of Aitkin and Crosby, Warner will be responsible for the Aitkin branch opening in early 2017, overseeing the operations in Crosby, and be responsible for daily branch operations, along with employee growth.

“I had an amazing experience with Mid-Minnesota Federal Credit Union on a personal level,” Warner said, “and I told myself this is a place where I want to work; a place I would enjoy coming to work every day.”
Warner enjoys the outdoors and has been married for nearly two years. She has volunteered with Junior Achievement and currently serves as a Kinship Mentor and in the lunch buddy program at Cuyuna Regional Elementary School.


Mid-Minnesota Federal Credit Union is a member-owned financial cooperative serving central Minnesota. The credit union has full-service offices in Alexandria, Baxter, Brainerd, Crosby, Detroit Lakes, Little Falls, Pequot Lakes, Staples, and Twin Valley; as well as a drive-through in Baxter.

Monday, September 19, 2016

Mid-Minnesota is Now Offering CO-OP Shared Branching

Personalized service is a major benefit of banking at Mid-Minnesota, and you don’t have to sacrifice convenience to get it. Take advantage of Mid-Minnesota’s shared branching services through CO-OP Shared Branch and you can access your account at any of 5,100 credit union branches nationwide, often just as if you were visiting one of our own.

The national CO-OP Shared Branch network links participating credit unions electronically, allowing credit union members to do “branch banking” even when the branch near you doesn’t belong to Mid-Minnesota. This is a huge benefit to members who travel, whose workplaces don’t coincide with our branch locations, or who simply enjoy the convenience of expanded access. Wherever you are across the country, chances are good there’s a shared branch near you.

Shared branching is yet another example of credit union membership offering the best of both worlds—individualized attention and nationwide availability. The cooperative spirit of credit unions allows them to work with each other in ways that competing banks typically do not. Visit or download the Shared Branch Locator app for iPhone or Android to find branches nearest you. You can also look for the “CO-OP Shared Branch” logo on the door of any credit union branch.  

At a CO-OP Shared Branch location you can:

  • Make deposits and withdrawals
  • Make loan payments
  • Receive loan advances
  • Access VISA® or MasterCard® funds

Many shared branches also offer transfers, statement histories, money orders, traveler’s checks and notary services. Since services vary from one location to another, check with individual branches before your visit for a complete menu of available services.

Learn more at your local Mid-Minnesota branch location or on our website here.

Mid-Minnesota Federal Credit Union is a member-owned financial cooperative serving central Minnesota. The credit union has full-service offices in Alexandria, Baxter, Brainerd, Crosby, Detroit Lakes, Little Falls, Pequot Lakes, Staples, and Twin Valley; as well as a drive-through in Baxter.

Thursday, August 25, 2016

MMFCU Celebrates 60 Years of Service in June

Mid-Minnesota Federal Credit Union (MMFCU) celebrated its 60th anniversary this past June with a great evening of events. We had a beautiful night that featured a visit from Minnie Mouse and a raffle for our attendees with great prizes.

The children in attendance got to enjoy a bounce house, caricatures, cotton candy, balloon art, and more. Our attendees also got to eat some delicious pulled pork sandwiches. It was great to see such a big turnout by our members and community! It added to the excitement of our anniversary celebration.

As part of the celebration, MMFCU’s President/CEO, Chuck Albrecht, and Minnesota Credit Union Foundation Secretary Kathy Harrington, presented the Minnesota Credit Union Builders Award to Mrs. Don Eschenbacher.  Her husband Don played a vital role in the success of our credit union early on.  

The names of the Minnesota Credit Union Builders Award recipients and the contributing credit unions are permanently displayed in the Minnesota Credit Union Network’s lobby as a tribute to their accomplishments. 

Chuck also spoke about how Mid-Minnesota got its start and where we’re headed. 

“We believe in helping our neighbors achieve the American dream,” Chuck said. “We believe in helping our members send their children to college and, we believe in helping our members retire with confidence”. 

“Today, MMFCU celebrates our 60th anniversary and continues to live out our service pledge set by our seven founding members in 1956.” 

Mid-Minnesota Federal Credit Union started as the Northwest Employees Credit Union in June 1956. We became the Brainerd Community Federal Credit Union in August 1970. We changed our name for good in 1982 when we became Mid-Minnesota Federal Credit Union. 

Today we are proud to say that we have grown to well over 37,000 members and have over $257,678,149 in assets! However, we wouldn’t be where we are today without our members.

Our member / owners are what make Mid-Minnesota Federal Credit Union what it is today and it has been amazing to see how we’ve grown over the past 60 years. 

We are incredibly thankful for the years of service we have been able to give, and we look forward to many more to come.

To see how far we’ve come and all the services we offer, please visit our website at 

Here are some photos from that great event in June:

Mid-Minnesota Federal Credit Union is a member-owned financial cooperative serving central Minnesota. The credit union has full-service offices in Alexandria, Baxter, Brainerd, Crosby, Detroit Lakes, Little Falls, Pequot Lakes, Staples, and Twin Valley; as well as a drive-through in Baxter.

Monday, July 11, 2016

Why Simply Free Checking May Be Right for You

Since their creation, checking accounts have made millions of people satisfied for many reasons. Checking accounts are a quick and easy way to access your cash and help track your finances and transactions while keeping your money safe.

With hundreds of different checking accounts and options, it can be difficult to determine which is best and which provider to use. In central Minnesota, the answer is simple: Mid-Minnesota Federal Credit Union and our multiple types of checking accounts. We understand that checking is not a one-size-fits-all service, and we have created multiple account options to fit your needs.

Checking Account.png

The most common choice of accounts is our Simply Free Checking. With Simply Free Checking, you will never have a monthly service charge, per-check charge, or minimum balance to maintain. Your VISA Debit Card is completely free, and 24-hour account access is available by phone or personal computer at no charge. Add to that free direct deposit and no-surcharge ATMs and you’ve got much more than just an ordinary checking account.

Making the switch is easy, too. Your first 50 checks are free and we can even get you temporary personalized checks so there’s no waiting time when you’re without them. We’ll help you re-direct automatic deposits and payments at no charge and even get you started on any of our popular 24-hour services.

With the many convenience and safety benefits that a Simply Free Checking account creates for you, it’s a wonder why you haven’t said goodbye to that bank checking account and joined the thousands of members who have made life simple with Simply Free Checking! Before long, you’ll wonder why you ever settled for anything less.

If you’re looking for a little more from your checking account, we offer multiple other accounts such as Regular Checking and Money Market Checking. No matter your choice, all Mid-Minnesota accounts come with amazing benefits that we know you will love.

Join today and find out what everyone else is amazed about. We’re with you all the way!