Friday, April 11, 2014

Mid-Minnesota Federal Credit Union Highlights Financial Education During Financial Literacy Month



Across Minnesota and across the country, credit unions are celebrating Financial Literacy Month in April to help increase awareness about personal finance education. While credit unions formally celebrate financial education efforts during this month, these ongoing efforts are a long-term commitment.

Providing financial education to their members and to their communities is part of each credit union’s mission. By focusing on financial literacy efforts for members and forming partnerships with local organizations and schools, Minnesota’s credit unions work to ensure that consumers have the knowledge and skills to successfully manage their personal finances.

Through its Education Network, Mid-Minnesota Federal Credit Union partners with community organizations to provide information, educational seminars, and networking opportunities to help consumers improve their financial well-being. In April, Mid-Minnesota FCU is offering the following financial education workshops and classes: Car Buying with Confidence, Building Your Home from the Ground Up, How to Rent, and Saving & Investing. Other popular and highly-attended sessions include The College Process, Retirement Red Zone, and Identity Theft Prevention. These and other education sessions are scheduled throughout the year and are also free and open to the public.

Educational initiatives like these help create a stronger financial future for all Minnesotans. That same dedication to creating a financially-literate next generation was echoed by the Minnesota Department of Education last spring when it implemented changes to the state’s K-12 Academic Standards in Social Studies. The standards now include additional requirements in financial education for students of all ages and address several fundamental concepts of economics and personal finance.

Credit unions recognize that the better all Minnesotans manage their finances, the stronger our state’s economy will be. Large or small, urban or rural – 133 credit unions across the state agree that improving financial literacy, increasing personal savings, decreasing debt and living within a budget is a formula for success.

Mark D. Cummins, President & CEO, Minnesota Credit Union Network
Chuck Albrecht, President & CEO, Mid-Minnesota Federal Credit Union

Wednesday, April 9, 2014

NEW! Property Improvement Loans



As spring begins and things start to thaw (hopefully), you may realize that some
home improvement projects need to be done. Maybe the roof needs replacing or
you would like a deck on which to enjoy the summer weather. If financing such a
project seems like a challenge, a property improvement loan may be the perfect
solution!

At Mid-Minnesota Federal Credit Union, we are excited to start offering property
improvement loans. These give you the ability to make the improvements to your
home you have been wishing you could do. It’s not an equity loan; it’s a property
improvement loan! Qualified borrowers have the option to choose up to a 7-year
term and a loan amount between $2,500 and $30,000. There is an option for most
property improvement needs!

Some great ways property improvement loans can be used:
  • Fixing major issues (ex: replacing roof, fixing foundation, etc.)
  • Finishing the basement or a room in the attic
  • Building a patio, deck, or driveway
  • Updating the kitchen or other rooms
  • Building a shed, garage, or other structure
The Facts (for a single-family property)
  • Loan amount: $2,500-30,000
  • Current APR:
    • 0-48 months: 5.99%
    • 49-84 months: 6.99%
Now that you know the facts, what are you waiting for? Get out there and
start planning the improvements you have been waiting for. With a property
improvement loan, Mid-Minnesota Federal Credit Union can help you make it
happen!

Apply for a Property Improvement Loan Today!  Click HERE for the Application

Equal Housing Lender. Loans subject to approval. Certain restrictions apply. Minimum loan amount is $2,500.