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!

Monday, June 13, 2016

Toys For All Ages: Recreational Loans from Mid-Minnesota Federal Credit Union

Who ever said toys were just for kids? Toys are for all ages. They come in all different sizes - from miniature models you can construct to life-size! 

No matter which summer toy you are looking for - whether it’s a boat to enjoy one of Minnesota’s 10,000 lakes, the motorcycle you’ve always dreamed of, or that brand new RV for family camping trips - Mid-Minnesota’s recreational loans, will most likely fit any of your needs! We can finance your new or used toy - typically at the area’s best rates, and often right at the dealership with On-The-Spot financing!

If you’d like more information, feel free to contact a Member Service Specialist about your recreational loan at Mid-Minnesota Federal Credit Union or apply online today!

Thursday, May 5, 2016

“60 Days of Giving” with Mid-Minnesota Federal Credit Union

Screenshot (297).png

“The more that you read, the more things you will know. The more you learn, the more place you’ll go.”   —Dr. Seuss.

A childhood rich in books can lead to an adolescence rich in curiosity and creativity. As part of our 60th Anniversary, Mid-Minnesota Federal Credit Union (MMFCU) is celebrating by launching a book drive entitled, “60 Days of Giving.” The aim of the book drive is to encourage childhood literacy and give back to a community full of eager and bright young minds. Each MMFCU branch is hoping to increase the number of available book in their community. You can learn more about the benefits of donating books through charities like Love to Know and The Nest.

Donations at participating MMFCU branch locations will be accepted between May 1st and June 30th.

Designated drop off areas are available in all branch locations. Members are welcome to drop off new and gently-used children’s books. After the drive, donated books will be distributed to local community schools and daycares.

As an additional treat, MMFCU is incorporating themes of savings and smart spending habits while promoting early childhood literacy. MMFCU staff volunteers will be reaching out to schools and daycares to help educate children about savings!

Our staff volunteers will lead story time, donate books, and guide a savings project. Each student will receive a savings bank and will be encouraged to draw a special item for which they are saving on the bank. This will help children visualize their goals as they save up for them.

Some additional details to take note of:
● MMFCU will be sponsoring the Imagination library, a free program promoting early childhood literacy with monthly free books sent via mail to program members. All Mid-Minnesota Federal Credit Union branches will have Imagination Library sign-ups forms available.

● MMFCU will be accepting monetary donations and matching up to $2,000 in donations. Donations stay local - proceeds will go towards the United Way’s Imaginations library program, and the Great River Regional Library’s WishList in Staples.

Help encourage childhood literacy in the community by participating in the “60 Days of Giving” book drive. Donate some of your books so that a child in your community can gain a new adventure!

Friday, April 15, 2016

Smart Investments for Your Graduation Money

Smart Investments (1).jpg

Graduation is just around the corner and whether you are graduating from high school or college, a celebration is no doubt on the horizon. Graduation parties are a chance to celebrate with friends and family, and sometimes it can mean gifts — including money. Many recent grads come into a small fortune directly after graduation. The extra funds can be exciting, but it’s important to be smart with your money.

Many high school graduates haven’t made a solid attempt at saving — this is a good time to start! This money can help you with your college books, a laptop, or an array of other college expenses. College graduates should start a nest egg. Experts recommend that you save at least three months of living expenses. That’s rent, bills, groceries — anything to maintain your current standard of living. Not many recent college grads have that kind of cash saved up — get started!

Open a Savings Account

The first step in saving money is opening a savings account. If you already have an account with us at MMFCU, you can easily do that online. There are a variety of options to choose from, including our WINcentive program. Have this account specifically set up for college expenses and/or an emergency fund.

Start a Roth IRA

If you already have a good start on a savings account, you can either add to it or you can invest! Open an IRA. To get an idea of the benefits, if you are 22-years-old and you open a Roth IRA with $100 at 8% a year, by the time you are 66, it will have grown to about $3000! That comes from starting with $100 — the more you invest, the more it grows! Visit our Retirement Central Site, or read more about it and the tax benefits it comes with here.

Overall, smart saving and spending are what will get you through your first years as an adult, so be disciplined in your finances. For more information on smart savings for young investors, check out’s article Five tips for young investors.

If you need any help setting up for your future, contact us with any questions. Congratulations again on graduating, it’s a big accomplishment. We wish you the best of luck!

Monday, April 4, 2016

Building Your Home: From Start To Finish

At Mid-Minnesota Federal Credit Union, we want to help you from start to finish when it comes to the construction of your new home. It’s not only about the one time closing cost construction loan MMFCU offers, but also about what members can expect throughout the whole construction process.

To get started, determine your price range for the property and total construction costs. This should include meeting with an architect, developer, or builder to determine a general estimate. Once you have that, get pre-approved for your construction loan.

Now that you have financing in place, secure land via a purchase agreement and choose your construction team for home plans and construction estimates. Your team of architects, engineers, and/or developer will help outline the whole construction process! Be ready to have conversations about everything from utilities to your septic system, to how your driveway will look. 

You’ll also have to find a builder for your project. Many times, you’ll be working with a smaller, regional builder that is family-owned. You’ll also work with a sales consultant through the builder’s company and a design center consultant to map out how you want your home to look. 

You will meet the construction manager, the person who will be responsible for overseeing the building of your new home. They’ll handle everything from permits to inspections during the process. The construction manager will give you updates as the house is being built and address any concerns that you may have. 

The builder will hire outside contractors to finish certain aspects of your home, including framing, plumbing, electrical work, drywall installation, interior work and cabinet and counter work. You probably won’t meet any contractors during the process, but if you’ve picked the right builder, you can feel confident that everything is being done correctly. 

While you’re building, inspectors will stop by to look at the construction taking place. Your home will be inspected many times by county or city inspectors. You can discuss this more with your construction manager.

Here is a step-by-step look at how your home will be built:

Permits. Before any dirt is moved, a city or county employee must approve the design and provide permits for zoning and grading (changing the land to accommodate your home and driveway.

Site preparation. Before building starts, the new site’s land must be cleared by having trees, rocks, and debris all removed from the ground. The ground will also be leveled so your home can be built there.

Foundation is poured. How your foundation is poured depends upon if you have a basement or not. Footings are put in and the concrete is poured into the holes of your foundation walls. After that, curing takes place and no work will be done for a time. Then, a waterproof membrane is added and the installation of drains, pipes and plumbing takes place for your basement or first floor.

Framing. This is the skeleton of your home that includes subflooring, the walls, and roof. Your window openings will be framed and exterior walls are also installed during this time.

Siding and roofing. After the framing is finished, the roof and siding are installed. Some of the materials used for the roof are slate, tile, metal, and shingles.

Plumbing, electrical and HVAC installed. After the roof and siding are in, the ductwork for your heating, ventilation, and air conditioning systems are put in. Plumbers and electricians are a part of this process. Your shower and tub and other bathroom items are put in during this time.

Insulation. The builder will pick the insulation he puts in based on where you live. Homes usually have insulation put in all exterior walls, the attic, and floors that are located above the basement or crawl space.

Drywall and exterior finishes. Once the insulation and electric work are in, the drywall is put up. Drywall can be installed, taped or covered with a primer coat of paint.

Interior trim and walkways. Baseboards, moldings, window sills, doors, door casings and stair railings are next on the docket. Cabinets, vanities, fireplaces and any decorative trim is put in during this part of the process. Walls can also be painted at this time. Your driveway will also be formed during this period.

Floors, countertops, and exterior work completed. Hardwood or tile flooring goes in next, not to mention your bathroom and kitchen counters. Your yard will also be readied for proper drainage and future landscaping products during this time.

Final touches. Your light fixtures, outlets, switch plates, HVAC, sinks, faucets, and toilets are the next things to be installed. The last thing installed is your carpet and any vinyl flooring you may have. A big clean-up of any construction debris follows the carpet being put in.

MMFCU hopes this helps you get an idea of what the construction process is like. To register for the seminar to learn more about the loan process, visit our upcoming events page or call our Brainerd branch at 218-829-0371!

Friday, March 11, 2016

Upcoming Area Trade Shows

It’s Trade Show season and Mid-Minnesota Federal Credit Union will be an active participant this spring!! We will be at each of the following upcoming Trade Shows in the various communities we serve, to answer any questions you may have about Mid-Minnesota Federal Credit Union and the products and services we offer! We look forward to seeing you at these shows:

Detroit Lakes Home Show

Saturday, March 18: 10 a.m.-5 p.m.
Sunday, March 20: 11 a.m.-4 p.m.
Location: Kent Freeman Sports Arena, 1310 Rossman Avenue, Detroit Lakes, MN
Admission: FREE

This year marks the 30th Anniversary of the Detroit Lakes Home Show! The Lake Region Builders Association are the professionals who build the houses that grow into neighborhoods, which become a community, that attract the businesses and create new jobs. Stop by our booth to say hi to Mark Hagedorn, Detroit Lakes Area Lending and Development Manager!

Brainerd Everything Expo

Friday, March 18: 10 a.m.-7 p.m.
Saturday, March 19: 10 a.m.-5 p.m.
Location: Essentia Health Sports Center, 502 Jackson St, Brainerd, MN 56401
Admission: $3.00 per adult, 17 and younger are FREE

The Brainerd Everything Expo is one of the areas region’s largest trade shows with over 3,000 visitors each year. Brought to you by the Brainerd Lakes Chamber of Commerce and Hubbard Radio, the expo will teach you more about the businesses in the area. Each visitor will get the chance to win Door prizes which are drawn throughout the expo — You Must Be Present To Win.

Schedule of Events:

Friday — Senior Day at the Everything Expo:
  • FREE Shuttle Service for Seniors provided by Executive Express. Pick-up & drop-off locations TBD.
  • Bingo with PRIZES, sponsored by Grand Casino — 9 a.m. and 3 p.m.
  • Painting Sessions by The Traveling Art Pub — 11 a.m. and 12:30 p.m. (Pre-registration required. Call 218-454-1888 or visit $15 per person. Maximum of 44 participants per class.)
  • LIVE Music by Rockin' Hill (blues, jazz, rock) - 5-7 p.m.
  • Door Prize Drawings — all day (must be present to win)
  • Lakes Proud Punch Card Contest — all day
Saturday - Family Day at the Everything Expo:
  • Meet Curious George — 11 a.m.-2 p.m.
  • Yoga Sculpt Class by The Burn — 11 a.m. (Pre-registration required. Call 218.454.2077. $10 per person. Additional sessions may be added depending on registration.)
  • Bingo with PRIZES, sponsored by Grand Casino — 12:30 p.m.
  • Painting Sessions by The Traveling Art Pub - 2 p.m. and 3 p.m. (Pre-registration required. Call 218-454-1888 or $15 per person. Maximum of 44 participants per class.)
  • Door Prize Drawings — all day (must be present to win)
  • Curious George Coloring Contest — all day
  • Lakes Proud Punch Card Contest — all day


Brainerd MMBA Home Show

Friday, April 1: Noon-7 p.m.
Saturday, April 2: 9 a.m.-5 p.m.
Sunday, April 3: 10 a.m.-3 p.m.
Location: Essentia Health Sports Center, 502 Jackson St, Brainerd, MN 56401
Admission: $5.00 per adult, 15 and younger are FREE

The Brainerd MMBA Home Show represents members of all facets of the building industry from General Contractors, Remodelers and Developers, to Sales and Marketing Experts, Architects, Excavators, Plumbers, Electricians and Financial Institutions — all to support the American dream of homeownership. Become a member and learn how it will not only save you money but it can open up doors to possible scholarship opportunities!

Echo Press

Alexandria Echo Press Lifestyles Expo

Alexandria Lakes Chamber of CommerceSaturday, April 2: 10 a.m.-4 p.m.
Location: Viking Plaza Mall, 225 7th Ave E Alexandria, MN 56308
Admission: FREE

This special event is the 22nd Annual Alexandria Lifestyles Expo, presented by the Echo Press! It will be filled with entertainment, exhibitors, demonstrations, food and prizes. Last year, it featured more than 60 exhibitors, food, exotic animals, and a comedy duo!

What the Tech Expo

Friday, April 8: 10 a.m.-2 p.m.
Location: Minnesota State Community and Technical College, Wadena
Admission: FREE

This expo is a collaboration with local businesses, broadband and energy service providers to introduce the community to technologies that can improve their lives. This expo includes "how to" and "what not to do" with technologies to improve health, home and businesses.

Crosby Living Local

Friday, April 22: 3-7 p.m.
Saturday, April 23: 10 a.m.-3 p.m.
Location: Hallett Community Center of Crosby, 470 8th St NE, Crosby, MN 56441
Admission: FREE

The Crosby Living Local Expo features crafts and all types of businesses — area and home-based! Learn more about the community and area businesses by spending the afternoon in Crosby.

Wednesday, February 10, 2016

Getting a Home Loan from MMFCU

Buying a home for the first time can be stressful, especially if you don’t know what to do.

Here at MMFCU, we can help you! Our home loan team can assist you with any questions that you may have and walk you through the process to make it completely stress­ free ­especially if it is your first time.

Step 1
Once you’ve made the decision to buy a home, the next step is to see where your finances are and what you can afford. Knowing the up-front costs of purchasing a home as well as the budget for your monthly mortgage payments will help you calculate how much you need to borrow.

The other part of this first step is getting your down payment together. When doing so, you need to calculate your assets. You will need ALL of the following information:
  • All checking and savings accounts
  • Stock, bonds, stock options, 401K value
  • 401K loan
  • Gifts from family
Having all of this information together will help you decide what home you can afford. If your dream home happens to be out of your initial reach, talk with one of our home loan consultants and they can help you with other possible options. Don’t lose hope!

Step 2
Once you figure out what you need, the next step is to apply for a loan. The information that you will need to get together is as follows:
  • Name, current address, Social Security number
  • Name(s), and work number(s) of employer(s) for the past two years
  • Monthly income for you and your co-borrower (Most recent pay stub with year-to-date income, including bonuses, commissions and overtime income for the past two years. This information is on your tax return.)
  • If you are self-employed, you will need your last two years of tax returns for the type of business you own: sole proprietorship (Schedule C), partnership (Form 1065), or corporation (Form 1120 or 1120s). In addition, the last two years' personal tax returns (including K-1s).
  • Documentation to support credit history problems (if applicable), which can be a written explanation of late payments, bankruptcy (petition and discharge papers), defaults, judgments and/or liens.
  • As part of closing, we will have to verify all funds that you receive; so it's a good idea to get together any documents that will verify proof of receipt or deposit for funds, like gifts and trust accounts.
Step 3
Once you have applied for the loan and are pre-approved, now you can make an offer on that dream home you’ve had your heart set on! When making that first offer, include the following:
  • The price you're willing to pay
  • When you want to move in
  • What kind of inspections you'd like to have (structural, electrical, plumbing)
  • If your ability to buy the house depends on your ability to get financing (which is taken care of if you're pre-approved by us)
  • The amount of time both you and the seller have to make all these things happen (usually 30 to 60 days)
Make sure your officer is “contingent on inspection.” This could be the biggest purchase you will make in your life, so you want to make sure you’re not buying something that’s broken.

The seller has 24-48 hours to consider and either accept your offer or make a counter offer. Once a deal has been made, then you can close!

MMFCU wants to help you however we can, whether it’s giving you peace of mind about your current mortgage, achieving a goal, or simply making a dream come true, we can help. Call us today at 218-829-­0371 or visit our website to learn more about your options.

For additional resources and information, you can also check out our online home loan center, which will walk you through the application process, calculate various scenarios and educate you on your financing options.

Mid-­Minnesota Federal Credit Union is a full-­service mortgage lender for a variety of home financing options: first and second mortgages, home improvement loans, home equity loans, lines of credit, refinancing and more.

Friday, January 22, 2016

Celebrating 60 Years of Service

At Mid-Minnesota Federal Credit Union, we are hitting a big milestone this June — our 60th Anniversary. It has been an amazing journey so far. We are incredibly thankful for the years of service we have been able to give to you as we look forward to many more to come. In honor of this big event, let us reflect on the highlights of the past 60 years and what made MMFCU what it is today.
  • June 1956 - Seven Northwest Paper Company employees wanted a better way to bank. They each deposited $25, along with their vision, and the Northwest Employees Credit Union was born. 
  • August 1970 - The Northwest Employees Credit Union changed to a community charter and became the Brainerd Community Federal Credit Union, which served people living or working within 10 miles of the Brainerd Post Office. At the time, the credit union totaled 1,245 members and $543,000 in assets.
  • April 1982 - Over the years, the Brainerd Community Federal Credit Union had undergone a few mergers with other small surrounding credit unions and now had 9,400 members with offices in Crosby and Brainerd. In this month, they changed their name to what it is today: Mid-Minnesota Federal Credit Union.
  • 1996 - By this time, MMFCU expanded even further and acquired Little Falls, Staples and Alexandria, with new offices in Staples and Alexandria. In this year, our first MMFCU website was launched.
  • July 2002 - MMFCU hit $100,000,000 in total assets and had 27,201 members!
  • January 2004 - The new office in Little Falls was completed, which resulted in 54 percent member growth. Our full-service locations included Brainerd, Crosby, Staples and Little Falls. We also had an automated express branch in Alexandria and a drive-up facility in Baxter.
  • June 2006 - The Grand Opening for our fifth full-service branch in Baxter occurred. We also celebrated Mid-Minnesota’s 50th anniversary.
  • April 2008 - The Grand Opening for our sixth full-service branch in Alexandria.
  • June 2010 - Mid-Minnesota received the Dora Maxwell Social Responsibility Award for our implementation of the Education Network, which gave educational opportunity for all ages.
  • December 2011 - The Grand Opening for our seventh full-service branch in Pequot Lakes.
  • March 2015 - The Grand Opening for our eighth full-service branch in Twin Valley. MMFCU now serves all of Becker, Cass, Crow Wing, Douglas, Morrison, Norman, Todd, and Wadena Counties, as well as numerous townships in Otter Tail County, Aitkin, McGregor, and Palisade.
  • August 2015 - The Grand Opening of our ninth full-service branch in Detroit Lakes.
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 YOU. You are what makes 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. Thank you for your continued support and membership.

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