Monday, March 13, 2017

Money Making March: 5 Ways To Unclutter Your Expenses

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The temperatures are finally beginning to rise, and spring is right around the corner. As the weather begins to turn in a more pleasant direction, it’s a great time to make decisions to cut out unnecessary expenses. Saving for spring and summer activities may take some reorganization and adjustments to your everyday habits, but it will be worth it when you’re enjoying a day on the lake on your new boat! We’ve gathered our list of top tips and advice on how to declutter your expenses and find extra funds in your budget.

Check your Credit Score

Surprisingly enough, 2/3 of Americans have no clue what their credit score is. Are you part of that statistic? There are plenty of great resources that allow you to keep track of your credit score. If you are aware of the changes that can affect your score, you can be more proactive to avoid damaging it.

Some credit scores have errors that go unchecked unless reviewed by the person they are reporting on. I can be difficult for anyone who does not personally know the individual to even acknowledge the errors. According to one study by, around 19% of credit scores have errors, while just 1% see a meaningful change. This is why it is important to review your credit score annually.


Cut the Cable

Tis’ the season for walks in the park and bike rides. As the weather warms up, we spend less and less time indoors watching television. Make a decision to cut the cable and start saving. Try Amazon Prime or Netflix for a more personalized and time-friendly alternative. Plus, it’s more than half the cost of regular cable!

Check your Thermostat

Set your thermostat appropriately. If you’re not sure how to effectively work it, check out this general guide for operating thermostats. As the article says, “You can save as much as 10% a year on heating and cooling by simply turning your thermostat back 7°-10°F for 8 hours a day from its normal setting.”

closet-1209917_1920.jpgClean out your Wardrobe

Go through those old stretched out sweaters and clothes that no longer fit. Take everything in good condition to a clothing consignment store and sell your slightly used clothes for cash! It’s a fast way to earn money from something that would otherwise go unused.

Create a Budget

We all know that budgeting is a tedious task, which is why many of us avoid doing it. But if you know it may save you money in the long run, would you be more willing to give it a shot? Check out these budget and debt facts sheets to learn more.

Spring-cleaning can be applied to all aspects of your life. It’s important to declutter your finances too! Find out where you’re spending and how you can save money to enjoy the beautiful season that’s approaching.

Make March a moneymaking month and set yourself up for Spring! Contact Mid-Minnesota Federal Credit Union to get started!

Monday, February 20, 2017

Raising Money-Savvy Kids

It can be a challenge to get your kids excited about saving money. Teaching good money habits, though, starts at home and it starts early! Contrary to popular belief, your child will be more financially sound with continued math education and regular money discussions than from an academic finance curriculum. That’s good news for parents, who can promote good money-related behavior in simple and age-appropriate ways.

For younger children, start with simple concepts that they can understand. Explain the difference between buying, borrowing, and saving. You could even use the three jar method to teach about spending, saving, and giving. Discuss some of your buying choices during a trip to the grocery store, or if the child is old enough, encourage them to compare pricing on products and help you purchase certain items.

piggy-bank-478158_640.jpgAllow your child to count out money and hand it over to the cashier to see how money is exchanged. Understanding the output of money will help them grasp the concept of saving it! Then, when it comes time to decide what to do with gift money from a birthday or Christmas present, discuss options of spending or saving it.

Having an old fashioned piggy bank at home where your kid can watch their money accumulate can make saving money more fun! Discuss with them a special event or purchase for which they are saving. As your child grows, they can even intentionally put money away for college, a car, or another major purchase.

Once the piggy bank is full, bring your child to Mid-Minnesota Federal Credit Union for a special “big kid” trip! Beginning as early as kindergarten can be a great time to open a savings account for your child. Taking trips to the bank monthly or annually can become a fun, routine date with your kid.

Here at Mid-Minnesota, we can help your family save. Check out our savings options, particularly our Term Share Certificate for kids under 18.

Friday, February 17, 2017

Fall in Love with Saving Money

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As February is the month of love, we ask, who doesn’t love than saving money? Saving money doesn’t have to be such a painstaking task; it can actually be quite fun and easy. Mid-Minnesota Federal Credit Union wants to partner with you for a better future. Saving is easy if you set goals and accomplish them. We’ve gathered the best ways to save money that will help you fall in love with more than just that special someone this month.

Start Small

Start with a change jar. You will be surprised to find how fast the coins at the bottom of your purse or pocket will add up. As the famous saying goes, a penny saved is a penny earned. Once your jar is full, deposit it into your savings account and watch your savings grow!

Save Heroically

Become a Super Saver at MMFCU. Earn a dividend based on your average monthly balance. The more you save, the more you’ll earn. A great tip is to avoid dipping into your savings once it’s deposited. The money in your savings should only be used for emergencies or under special circumstances.

Pin Ideas for Later

Follow our saving and spending board on Pinterest. We’ve put together a collection of ways to save money and to spend less. Participate in one of the money saving challenges, learn the latest tips, or find ways to spend less on things you already do. Your savings account will thank you.

Get the Kids Involved

Pass down your money saving habits to your children. A Term Share Certificate may be the perfect solution you’re looking for. Our young members age 0-18 earn great rates with traditional Term Share Certificates for 6, 12, 18, 24, and 36-month terms. The older your children get the sooner you’ll wish you started saving.

Gain Some Incentive

Save to win! WINcentive Savings is a savings account that offers you the chance to win prizes from statewide drawings. Prize drawings occur monthly, quarterly and annually. The more you save the more chances you have to win. Start saving soon because the grand prize is $5,000!

Saving money doesn’t have to be boring, stressful or unrewarding. Save with excitement and you’ll end up falling in love with your bank account. Whether you’re saving for a car, house or special someone, Mid-Minnesota Federal Credit Union provides a variety of ways to save.

Friday, January 27, 2017

“Insure” a Safer 2017 for You and Your Family

Let’s face it, accidents happen. They happen to your car, your home, and sometimes even the people you love. Insurance helps you protect yourself, your family and your belongings. We’ve put together the key reasons why our insurance options are necessary.

car-85320_1280.jpgAuto Insurance protects and covers damages done to your automobile. The average price of a new car reached an all-time high last year at a whopping $34,077. That’s a 2.7% increase from 2015. If you’re going to be investing that much into your car, you’re going to want to make sure that it’s fully protected out on the road. In the case of an accident, car insurance can pay for medical bills and protect you from motorists who may not have insurance of their own.

Recreational Vehicles
need insurance too! It is important to get a coverage that can pay for exactly what you need. Typical auto insurance policies offer a roadside assistance, but towing an RV can cost three times more than a typical tow. Get your specialty recreational vehicle policy to ensure every cost will be paid for.

Home Insurance provides protection to much more than the physical structure of your home. During bad weather, damage to the outside of your house can get costly. Having a good homeowners policy can help pay those repair bills. Guests visiting your home can also be covered under some policies. If you have to leave your house because of fire damage or another covered risk, a homeowners policy can even help cover the cost of hotel stays.


Life Insurance is about making sure your loved ones are taken care of. Provide your family with the right tools to carry on without the worry of financial struggles. Funeral costs can be a burden to families. An insurance policy can ease their mind and allow them to mourn without the financial worry. If there’s one thing that needs more protecting than anything, it’s your life.

We can find you the best combination of price, coverage, and service that will fit all of your insurance needs. The Insurance Office at Mid-Minnesota Federal Credit Union will provide different options for insurance plans that will save you money. Our staff has the experience and knowledge to find the perfect fit for you.

Call or stop by today for a free, no-obligation policy review by Agency Manager, Steve Isackson ( or Agent Barb Dalton ( at the Insurance Office. They'll determine if you have ample coverage and are paying a fair premium.

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.