MembersFirst Credit Union: Blog

Do you know your credit score? Do you know how it’s calculated and what it means? Your score is determined by many factors. Basically, if you pay your bills on time, don’t overuse your credit and don’t ignore any delinquent accounts, your score will rise. Have a variety of credit and keep your older cards open. Your score affects just about everything, from insurance rates and employment to loan/mortgage rates and eligibility. Try to pay more than the minimum payment on your credit cards and look into a debt consolidation loan to get your balances down faster!

Click to learn more on credit scores and why they’re important to consumers.

Individual Americans spend hundreds of dollars a year and at least as many hours on keeping themselves physically fit — but too many people neglect their financial health. Just like physical health, being financially fit is crucial to your wellbeing, your future and your quality of life.

Read on to find out why being financially fit is so important and how you can overcome common barriers to achieving financial wellness.

Summer’s here and so is the possibility of high energy bills burning right through your budget.  While it’s hot out, you can still keep your cool with our energy-saving tips!

Read on and follow these hacks to save on energy costs this summer.  

Ahh…summer! The season of flip-flops and sunscreen, of lemonade and baseball games. What’s not to love about summer? Who’s thinking about financial fitness?

Nothing kills summer fun like a busted budget and a mountain of debt. So, how can you stay financially fit this summer when the temptation to overspend is especially strong during the summer?

Follow these tips to keep your finances intact throughout the summer. 

In today’s retail landscape, Buy Now, Pay Later (BNPL) services have emerged as a popular alternative to traditional payment methods. From Afterpay to Klarna and Affirm, these services offer flexibility and convenience in making purchases. However, understanding the fee structures, interest rates and potential pitfalls of each BNPL provider is crucial to make informed financial decisions.

Let’s take a look at these services and some alternatives available at your credit union.

Technology has brought us many wonderful things, but it’s also given scammers more ways to conduct their nefarious business. The latest is spoofing, which is using technology to make you believe the scammer is a person or business you can trust in order to gain access to your accounts or steal your information.

They may mimic a website, email address or phone number, use voice masking to sound like someone familiar or even use “deepfake” videos to convince you something is happening that isn’t. Always be on your guard! Read our article for an in-depth explanation of all the ways this scam plays out!

You hear it everywhere: budget, save and reduce! And while these can seem frustrating and hard to do, especially when funds are already tight, making a plan for how each dollar is spent could be as simple as following these four steps to make your cash work for you now and in the future.

Read on to learn more about cash flow strategies and maybe gain a different perspective on the topic of budgeting and spending plans.

At MembersFirst, we understand the significance of retirement planning and the pivotal role that Individual Retirement Accounts (IRAs) play in this process. In effort to shed light on traditional IRAs and unravel the mysteries behind these valuable investment tools, here are five essential nuggets of wisdom to guide you on your traditional IRA journey.

Click below or the image above to learn more.

Scammers often try conning victims out of their information and hard-earned money. Unfortunately, they’re often successful and it can be hard to recoup the funds, if at all.

At MembersFirst Credit Union, our biggest priority is your financial wellness, and that includes keeping you and your money safe. To help protect you, we’ve put together this guide about recognizing the signs of fraud and protecting yourself from scams.

Click the image above to learn more and access the guide.

Getting started for the tax season long before the filing deadline is commendable. Preparing well for your taxes can help you maximize deductions and ensure a smooth filing process, but it can still feel overwhelming and confusing. Here’s what you need to do to prepare for tax season.

Don’t forget to check out the discounts on tax preparation through Love My Credit Union Rewards!

Click the image above to learn more.