Monday, March 16, 2015

Transform, Transition, or Treat Yourself to a New, Improved Home

Have you been thinking about making some changes to your home? Remodeling or renovating your home has never been easier with a Home Equity Loan from Mid Minnesota Federal Credit Union. We have many great options to choose from, including our Traditional Home Equity Loan, Home Equity Line of Credit and Property Improvement Loan.

The Traditional Home Equity Loan allows borrowers to lock into a fixed rate. You can borrow against the equity in your home for any reason -- not only home improvements -- and enjoy tax-deductible interest!

If you need more flexibility in your borrowing, our Traditional Home Equity Line of Credit (HELOC) may be a better fit. Similar to a traditional home equity loan, the HELOC gives you access when you need it and you only need to pay monthly payments based on your balance after advances. The HELOC is a variable rate program. 

If you like the Traditional HELOC, but want to make smaller payments, MMFCU also offers an Interest-Only Home Equity Line of Credit. It offers the same great features as the Traditional HELOC, but with smaller payments because borrowers are only required to pay the monthly interest due based on the balance.
Are you wanting to increase the value or equity of your home? Our Property Improvement Loan is a great option. You can build a shed, construct a deck, remodel the kitchen, pave the driveway or fix the roof with a loan that fits your needs.

For more information about everything related to home loans, from the basics, to current rates, to purchasing or refinancing, visit our convenient and educational Home Loan Center. We’ve pooled together resources and information and condensed it all into one, centralized location. It has all the best resources you need to make your home dreams come true!

You can apply for any of our home equity or improvement loans online, at one of our convenient locations, or over the phone. No matter where you are in your financial journey, you can lean on us to help you build the best future for you. Your dreams are within reach!

Equal Housing Lender. Subject to credit approval. Consult your tax advisor about deductibility options. See rates page for current rates. The HELOC is a variable rate product based upon the Prime Rate. The maximum HELOC rate is 18.0% APR. Home equity programs may be subject to nominal closing costs of approximately $150 per $20,000 borrowed. No closing costs apply to new money only

Friday, March 13, 2015

MMFCU Merges With Twin Valley Branch

Spring is synonymous with new life, growth and possibilities. It’s a time that brings out the best in many people. When the landscape begins to change and the sun shines a little brighter. Ironically, the season upon us also parallels a season that our credit union has embarked upon.

After a special membership meeting in Twin Valley, members of the Pine to Prairie Federal Credit Union voted to approve a merge with Mid-Minnesota Federal Credit Union. We are so excited about this partnership and are happy to announce this merger!
Valerie Riepe, Assistant Branch Manager

Much like MMFCU, Pine to Prairie was created nearly 60 years ago by hard-working people who wanted an alternative banking option where they, truly, had a say. MMFCU is proud to be able to offer additional credit union services to the people of Twin Valley and all the surrounding areas.

The horizon for MMFCU is looking bright. Along with the Twin Valley merger, we also finalized plans to open a full-service location in the heart of Detroit Lakes. This will provide us with an opportunity to share the credit union difference even more. With these two additions, MMFCU has now expanded its Field of Membership to serve all of Becker, Cass, Crow Wing, Douglas, Norman, Morrison, Todd, and Wadena counties; as well as the following townships in Otter Tail County: Blowers and Paddock and the Cities of Aitkin, McGregor, and Palisade, in addition to various townships in Aitkin County.

Some of our members may have reservations, as a once small town cooperative continues to grow and expand its reach and membership -- however, we can assure you that you can still expect the same friendly, hometown service you have come to expect at each of our branch locations. We are, and continue to be, People Helping People.

In fact, as our membership continues to grow, this growth will result in MMFCU being able to give back even more to our member/owners in the form of lower interest rates, increased savings rates, and free and low cost services. We will remain faithful to returning profits to our members. It’s truly a win-win for everyone involved.