Spring Clean Your Finances

Spring is a great time of year to clear your house of accumulated junk and make it sparkle. Why not do the same for your finances? Junk can accumulate there, too. In fact, some of your money matters may need a good wipe down this season. It is especially true this year, when many Americans are still recovering from the financial fallout of COVID-19, or maybe wondering how to use the latest round of stimulus checks. Whatever your current situation, a thorough spring-cleaning for your finances is a responsible move this time of year.

Here are some ways to spring clean your finances:

Sweep out your budget

It’s time to shake out the dust in your budget! Review your monthly spending and find ways to cut back. Have you been overdoing the takeout food this year? Buying up more shoes than you can possibly wear? Pare down your budget until it’s looking neat and trim.

Freshen up your W-4

Tax season is prime time for revisiting the withholdings on your W-4. If you received an especially large refund this year, you may want to adjust the amount you withhold. The IRS’s tax withholding estimator can be a useful tool to help you determine the perfect number.

Deep clean your accounts 

If you’ve switched from one bank or credit union to another, you may have dormant accounts that are still open and may be charging you fees. Or, perhaps they’re holding onto money you’ve forgotten you have! And don’t forget about the 401(k) you may have from an old job. Now may be the time to transfer those funds to your current 401(k).

This spring, do a Marie Kondo on your finances and get rid of any accounts you don’t need any longer. A minimalist approach to your finances will make it easier to manage your accounts. It will also give your savings a greater chance at growth, and help you avoid fees for unused accounts.

Toss out your debt

Get ready to kick that debt for good!

If you’ve been stuck on the debt cycle for too long, make this spring the season you create a plan to break free.

First, trim your budget or consider a side hustle for earning some pocket money, designating these extra funds for your debts. Next, choose a popular debt-busting approach, such as the avalanche method, in which you pay off debts in order from highest interest rate to lowest, or the snowball method, where you start with the smallest debt and then move up your list as each is paid off. Once you’ve chosen your approach, maximize payments to the first debt on your list, making sure not to neglect the minimum monthly payments on your other debts. Before you know it, that debt will be gone! Check out our previous article detailing the Avalanche or Snowball method to help you decide which is the best approach for you. Follow this link.

Dust off your saving habits

Have you been remembering to pay yourself first? Get into the habit of maximizing your savings this spring with a tangible financial goal. You can also make savings an itemized line in your budget. This way, you’ll have funds set aside for this purpose, instead of savings only happening if there’s money left over at the end of the month. Finally, automate your savings by setting up a monthly transfer from your checking account to your savings account. Never forget to pay yourself first again!

Make your investments sparkle

Whether you’re an experienced investor or you’re just getting your feet wet, it’s time for a spring cleaning of your investments! Check if your allocation strategy is still serving you well, whether you need to adjust your diversification and if your retirement accounts are on track for your estimated retirement timeline.

Make your stimulus count

Don’t let your stimulus payment and tax refund blow through your checking account. Instead create a spending plan for the funds that includes paying down debt, allocating some of the money for long-term and short-term savings and possibly investing another portion of the payment. Don’t feel guilty about using the rest of your stimulus check to splurge on a purchase or experience you’ve been wanting for a while now. The money is being distributed with the hopes that it will help stimulate the economy, and the best way to do that is to spend — just don’t go overboard.

Spring is the perfect time to give your finances a thorough cleaning. Follow our tips to make your money matters shine!

Your Turn: How are you spring cleaning your finances this season? Share your tips with us in the comments.

Snowball Method vs. Avalanche Method: What’s the Best Way to Tackle Debt?

Debt is the ultimate killjoy. It can destroy a budget, make long-term financial planning impossible, and shadow every purchase you make with guilt. No one wants to live with that debt burden. But how do you kiss your debt goodbye?

Crawling out from under this mountain won’t be easy, but if you’re ready to realign your priorities and do what it takes, you can shake off debt no matter how large.

Let’s take a look at two popular approaches for paying down debt and explore the pros and cons of each.

The debt snowball method

The snowball approach to getting out of debt was popularized by financial guru Dave Ramsey. It involves focusing on paying off the smallest debt first, and then working on the next-smallest debt until they’re all paid off.

Let’s take a look at how this would work using an example scenario. Say you’ve squeezed an extra $500 out of your budget to channel toward paying down debt and you have the following debts:

  • $2,500 personal loan at 9.5% interest; minimum payment $50
  • $10,000 car loan at 3% interest; minimum payment $200
  • $13,000 credit card debt at 18.99% interest; minimum payment $225
  • $18,000 student loan at 4.5% interest; minimum payment $300

In this scenario, the snowball method would have you paying just the minimum payment on all debts except for the smallest. On that, you’d put the extra $500 you have toward quickly paying off the personal loan. Once that’s paid off, you’d take the $550 you were paying toward the personal loan and add it to the $200 you’re paying for the car loan. Now you’re paying $750 toward your car loan and you’ll be kicking it in approximately one year. Keep doing this until you’ve kissed all your debts goodbye!

Pros of the debt snowball method

The most significant draw of the debt snowball method is that it works with behavior modification and not with math. The small but quick wins are excellent motivators to keep you going until you’ve worked through all debts.

Like Ramsey says on his site, “Personal finance is 20% head knowledge and 80% behavior.”

It’s not just a nice theory. A study published by Harvard Business Review proved that starting a journey toward a debt-free life with the smallest debt actually does help keep the motivation going until the job is done.

Cons of the debt snowball method

The primary disadvantage of the debt snowball method is its indifference toward interest rates. Paying off the smallest debt first can mean holding onto the debt with the highest interest rate the longest. This translates into paying more in overall interest, sometimes to the tune of several thousands of dollars.

Debt avalanche method

The debt avalanche method takes the opposite approach of the snowball method and advocates for getting rid of the debt with the largest interest rate first and then moving on to the next-highest. This enables the debt-payer to shed heavy interest rates quicker and to put more of their money toward the principal of their loans.

In the scenario above, the debt avalanche method would involve paying down the credit card debt first, followed by the personal loan, student loan and finally the car loan.

Pros of the debt avalanche method

Paying off the debt with the highest interest rate first can save hundreds, and sometimes thousands, of dollars in interest. Some people also like the idea of kicking their most weighty debt sooner. Finally, in most cases, choosing the debt avalanche route will be shorter than the snowball method.

Cons of the debt avalanche method

The debt avalanche requires self-motivation to keep the debt-payer plugging away at the plan despite seeing little progress. It’s harder to feel like you’re getting somewhere when the numbers are barely moving, but for individuals who are sincerely motivated and believe they can stick with the plan until they see results, it can work.

Which method is right for you?

Factors like your personality and lifestyle play a role in determining which of these methods is the best choice for you. If you think you’d need early motivation to keep going, you may want to choose the debt snowball method. Is your chief concern finding an approach that will cost you less time and money? In that case, you might want to go with the avalanche approach.

Before you make your decision, you may want to run your numbers through a debt-paying calculator to see how much interest you’d be paying by using each method and how long each approach will take.

There’s no reason to think you’ll be stuck with one method once you make your choice. You can always switch approaches down the line, or decide early on to get rid of your debt with the largest interest rate first, as per the debt avalanche method, and then work toward paying off the rest in order from smallest to largest, as per the debt snowball method.

Are you ready to tackle your debt? Choose your approach and get started today. A glorious debt-free life awaits!

Your Turn: Have you paid off a large amount of debt? Tell us how you did it in the comments.

Congratulations! Sandy Evans for 30 Years of Service

Press Release 

Friday, February 26, 2021 

Sandy Evans, Mutual Credit Union Employee Celebrates 30 Years of Service on Friday, February 26, 2021 

(Vicksburg, MS): Mutual Credit Union is thrilled to celebrate today with Sandy Evans as she celebrates 30 years working and serving the members of Mutual Credit Union. Sandy started with Mutual CU on February 26, 1991 as board secretary while also concurrently serving in the member services department. Since, 1991, Sandy has offered support to both members and fellow employees in her role as board secretary. Sandy has a degree from Ohio State University in Criminology and was previously employed at the Vicksburg Police Department, Vicksburg Medical Center, and the Polygraph Service. She and her husband Art own Vicksburg Alarms and they have four children, Melissa (Missy) Stockton, Robert Birdsong, Jeanice Skipper and Jeanelle Caraway.     

Congratulations, Sandy Evans on 30 wonderful years of a Job Well Done here at Mutual Credit Union! 

Sandy Evans, Mutual CU Board Secretary

For more information about Mutual Credit Union please follow this link to our webpage. For additional questions, please contact the marketing department at marketing@mutualcu.org or by calling (601) 636-7523 ext. 1226.  

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If You Hear This, You Are Talking To A Tax Scammer

It’s tax season, and the scammers are at it again! Beat them at their game by knowing what to look out for.

If you hear or see any of the following lines this tax season, you’re dealing with a scammer:

1. “We’re calling from the IRS to inform you that your identity has been stolen and you need to buy gift cards to fix it.”

If your identity has indeed been stolen, no amount of purchased gift cards will get it back.

2. “You owe tax money. We’ll arrest you, unless you buy iTunes gift cards.”

In this ruse, the scammer will also ask for the access numbers to the iTunes card to get easy and untraceable access to cash.

3. “If you don’t pay your tax bill now, we’ll cancel your Social Security number.”

Your Social Security number cannot be canceled, suspended, frozen or blocked.

4. “We’re calling you about a tax bill you’ve never heard about.”

The IRS will never initiate contact about an overdue tax bill by phone.

5.  “This is the Bureau of Tax Enforcement. We’re putting a lien or levy on your assets.”

Sounds scary, except for the fact that the Bureau of Tax Enforcement isn’t real.

6. “This is a pre-recorded message from the IRS. If you don’t call us back, you’ll be arrested.”

Scam alert: The IRS does not leave pre-recorded voicemails to individual taxpayers.

7. “You must make an immediate payment over the phone, using our chosen method.”

The IRS says that agents will never call to demand immediate payment using a specific method.

8. “Click here for more details about your tax refund.”

The IRS will never send emails with information about tax refunds. Clicking on the link in emails worded like this will put malware on the victim’s device.

9. “You owe the federal student tax.”

The federal student tax is yet another invention of tireless scammers.

10. “This is an SMS/social media post from the IRS. We need more information.”

The IRS doesn’t initiate contact with taxpayers, or ask for sensitive information, via text message or social media.

Stay alert during tax season and keep your money and your information safe!

Your Turn: Have you been targeted by a tax scam? Share your experience in the comments.

How to Celebrate Valentine’s Day on a Budget

Love is in the air and the money is flowing like heart emojis. According to the National Retail Federation, the average American spends $221.34 on Valentine’s Day each year. That’s a lot of money to spend on a one-day celebration!

Lucky for you, there are ways to enjoy a romantic evening with your partner without going into debt. Here’s how:

Work with a budget

Instead of spending mindlessly and regretting it afterward, designate a budget for all your Valentine’s Day expenses, and be sure to stick to it. In addition to helping you keep costs under control, working out a budget in advance will allow you to choose how to spend your money. You may decide to spend more on a gift and less on dinner, or maybe you’d rather skip both of these and splurge on a fun activity instead. Best of all, a preplanned budget means there will be no regrets spoiling the memory of your special day.

Shop smarter with a sales app

Check out shopping apps, like ShopSavvy or PriceGrabber, to score deals on that dream Valentines’ Day gift. The apps help you compare prices at online and in-store retailers, locate coupons for items you’re searching for and even bring up cash-back options to put money back into your wallet. Why pay full price when you don’t have to?

Save on flowers

Did you know that Americans spend close to $2 billion on Valentine’s Day flowers each year?

Save on those beautiful blossoms with these tips:

  • Shop for flowers at Costco, Trader Joe’s or Aldi. You’ll find great deals on fresh flowers that will outlast the cheaper ones you might find at street vendors.
  • Don’t buy flowers online. They’re unlikely to last well through the shipping and delivery process.
  • Use the food. The small packet of flower food that comes along with your blossoms will help them last longer and stay vibrant and fresh — but only if you use it.

Bring down your dinner costs

Don’t break your budget on a romantic dinner for two.

First, consider dining in. Yes, we know your kitchen table isn’t the hottest place in town, but you can find another area in your home and turn it into a special spot for a special meal. Consider laying down a blanket in front of the fireplace for a picnic-inspired experience, moving a small table into the living room or even setting up a cozy corner in a rarely used room in your home, such as a storage room or guest bedroom. Cook up a storm, or order in — you’ll still save on restaurant costs by forgoing beverages, gratuities and other add-ons you end up blowing money on when you eat out.

If you or your loved one are really looking forward to dining out, make it less expensive by learning how to beat the psychological tricks that restaurateurs play on diners to get them to spend more:

  • Look left. Restaurant owners strategically place the most profitable items on the menu in the right-hand corner — the spot most people look to automatically.
  • Say the price out loud. Notice the lack of dollar signs on the menu? It’s a trick to get you to spend more. Make the price real in your mind by saying it out loud.
  • Ignore the decoys. Restaurants famously place popular dishes near ridiculously overpriced items on the menu to make diners believe they’re getting a great deal. Your weapon against this trick is to completely ignore the most expensive item on the menu.
  • Dumb it down. Reading a restaurant menu can sometimes feel like reading French — even if you’re eating Italian. When choosing what to order, isolate the actual item on the menu instead of getting lost in all those descriptive phrases.
  • Take no notice of negative space. Another restaurant trick that gets diners to spend more is to create a pocket of empty space around high-profit items on the menu. This draws the eye to where the restaurant owner wants it to go and gets you to spend more than planned.

Celebrate late

If you dare, postpone your Valentine’s Day celebrations by a day or two for steep savings on all related expenses. You’ll find Valentine’s Day candy and greeting cards on clearance, gifts already marked down, and you won’t have to pay inflated restaurant prices for the same meal.

Use these hacks to plan the perfect Valentine’s Day on a budget.

Your Turn: How do you save on Valentine’s Day costs? Share your best tips with us in the comments.

28 Ways to Celebrate Black History Month

Since the 1970s, the month of February has been designated as the time to celebrate and commemorate Black history. Schools, television networks and private organizations use this month to increase awareness and to educate people about the rich history of Black Americans.

There are so many ways to celebrate! We challenge you to do one thing for Black History Month on each of the 28 days of February. Here are 28 ideas to help get you started:

  1. Support a Black-owned business. Many small businesses are hurting now. Show your support for a business in your community that is owned or operated by a Black person, partnership or family.
  2. Visit a Black- or civil rights-history museum. If museums are not open for in-person visits in your area, you can take a virtual tour at almost any museum, including the Smithsonian National Museum of African American History and Culture, the DuSable Museum of African American History or the  National Civil Rights Museum.
  3. Read the poem  “I, Too,” by Langston Hughes and have a family discussion about the poem’s meaning.
  4. Read Dr. Martin Luther King Jr.’s “I Have a Dream” speech.
  5. Binge-watch your favorite movies and documentaries on Black history and the civil rights movement.
  6. Learn about the life of Rosa Parks, one of the most influential figures of the civil rights movement.
  7. Read “On Beauty,” a novel by contemporary author Zadie Smith that explores beauty, feminism and sexuality within the context of race.
  8. Volunteer for a Black charity. You can find a full list here.
  9. Tune into blues music to read up on its history in the Black community.
  10. Look through James Karales’s photos of the 1965 Selma to Montgomery Civil Rights marches and discuss their significance.
  11. Learn the lyrics to “Say It Loud, I’m Black and I’m Proud,” released by James Brown, the “Godfather of Soul,” in August 1968, just four months after King’s assassination.
  12. Donate to a racial justice or educational cause, such as The Sentencing ProjectThurgood Marshall College Fund or the NAACP Legal Defense and Education Fund.
  13. Explore Black history through the thousands of sources in the National Archives. This photo series of Chicago in the 1970s is a great place to start.
  14. Read the poem “A Pledge to Rescue Our Youth,” by Maya Angelou. You can also watch this video to learn more about Angelou’s inspiration for this remarkable poem on youth and education.
  15. Learn the unique art of stepping, a form of dancing that uses the body to create rhythms and sounds. Check out Step Afrika! for how-to videos and information.
  16. Play a family game of Mancala, the ancient African game.
  17. Learn the lyrics and the background of “Lift Ev’ry Voice and Sing,” often referred to as the Black National Anthem.
  18. Learn about an unknown hero of Black history.
  19. Submit a blog to a Black media outlet.
  20. Read a memoir written by an influential Black figure. Some great picks include “Becoming,” by Michelle Obama, “The Cooking Gene: A Journey Through African American Culinary History In The Old South,” by Michael W. Twitty and “Extraordinary, Ordinary People: A Memoir Of Family,” by Condoleezza Rice.
  21. Create an ‘I Have a Dream’ garland with your family. Look up instructions here.
  22. Watch these student-made documentaries on notable African Americans.
  23. Make a reading list of great books by Black authors.
  24. Make a list of your favorite inspirational quotes by well-known Black personalities.
  25. Tune into the free educational program and performance on Black history and culture by the Chicago Children’s Choir. The event will livestream on Facebook and YouTube on Feb. 25.
  26. Learn the songs of the civil rights movement, like “This Little Light of Mine,” and “Oh, Freedom.” Have a family discussion, or open a discussion on your favorite social media platform, about the way the lyrics reflect the hopeful spirit of the era.
  27. Do you know who was the first Black tennis player to win the U.S. Open? Brush up on your knowledge about the many famous firsts in Black history.
  28. Take a virtual tour of Owens-Thomas House and Slave Quarters in Savannah, Ga.

Black history is rich, diverse, and, unfortunately, often painful. Use this list of ideas and activities to enrich your knowledge of Black culture and history this February.

Your Turn: How will you be celebrating Black History month? Share your ideas with us in the comments.

International Data Privacy Day Celebrated Jan. 28th

With kids still attending online classes and many adults still working from their homes, we are using more and more data, which is increasing the possibility of our personal information getting into the wrong hands.

International Data Privacy Day, on Jan. 28, is a worldwide initiative to promote awareness of the importance of privacy online as well as protecting personal information. It also is an effort to remind companies that safeguarding consumers’ privacy is a good business practice.

This year’s International Data Privacy Day theme focuses on the COVID-19 pandemic and how it has affected the way we live, work and interact.

“The pandemic has ensured that people all over the globe are more connected now than ever before. Consumers are generating more personal data through the use of devices and the businesses that power that connectivity inevitably collect and store that same data,” said Kelvin Coleman, executive director of the National Cyber Security Alliance (NCSA). “Data Privacy Day’s main objective is to be a yearly call-to-action; one that spurs discussion, reevaluation and awareness about how people can keep themselves and their data safe, and to show organizations that accountability, transparency and a commitment to fair and legitimate data-collection practices will ultimately lead to enhanced public trust and better brand reputation.”

According to the NCSA, Data Protection Day had been observed in Europe, and in January 2008, became known as Data Privacy Day in the United States and Canada. International Data Protection Day is celebrated on Jan. 28 to commemorate the 1981 signing of Convention 108, the first legally binding international treaty dealing with privacy and data protection.

To protect you and your family, the U.S. Federal Trade Commission (FTC) offers these tips:

Protect your kids:

  • Talk to your children about never giving out their Social Security numbers, account numbers and passwords.
  • Let them know that downloading “free” games, apps or other media can contain harmful software called malware, which can compromise their identity.
  • Teach them about using strong passwords. The longer the password, the harder it is to crack. Login names, birthdates, addresses and common words or phrases are not safe passwords. Also, reinforce the importance to not share passwords with anyone, including their friends.

Protect yourself:

  • Keep your software updated – Most apps, web browsers and operating systems will proactively offer the latest updates for increasing protection against cyber threats.
  • Use Two-Factor Authentication – Two-factor authentication requires not only a password, but also another piece of information, such as a code sent to your phone or a number generated from an app or token, to log into your account.
  • Use Encrypted Sites When Giving out Personal Information – To determine whether a site is encrypted, look for the letter “S” after the “http” in the beginning of a web address. This simple letter is a good signal to indicate the site is secure.

In addition to urging individuals to be vigilant in protecting themselves online, the NCSA is encouraging businesses “to keep individuals’ personal information safe from unauthorized access and ensuring fair, relevant and legitimate data collection and processing.”

Businesses are urged to abide by the following practices:

  • Protect clients’ information with security measures to prevent unauthorized access.
  • Know privacy laws pertaining to your business and educate employees on their responsibility to protect personal information.
  • Create a culture of privacy within your company.
  • Be honest and transparent about how your company collects and uses information.
  • Know if and how vendors or partners are using clients’ information.

International Data Privacy Day may only be observed once a year, but its principles should be practiced every day to keep your personal information out of the wrong hands.

Your turn: How do you protect yourself and your family online? Tell us about it in the comments.

Learn More

https://www.prnewswire.com/news-releases/national-cyber-security-alliance-kicks-off-data-privacy-day-this-week-to-raise-awareness-for-responsible-data-privacy-practices-301214558.html

https://www.consumer.ftc.gov/articles/0017-kids-and-computer-security

https://www.consumer.ftc.gov/articles/0009-computer-security

Mutual Credit Union Announces Milestone 90th Anniversary

 Press Release

Thursday, January 21, 2021

Vicksburg, Miss. – - Mutual Credit Union is excited to announce a milestone anniversary in 2021. Established in 1931, this year marks 90 years of serving our members and our communities. Over the last 90 years, Mutual Credit Union has grown from a credit union with fifty-six members and assets of $542.00 to a credit union with over 22,000 members and over $240 million in assets. Jerry Dean, 2020 Chairman of the Board of Directors for Mutual Credit Union stated, “I’m honored to celebrate with our members the 90th anniversary of Mutual Credit Union. Serving on the board since 2005, I am proud of the work the board of directors has played over the years in serving our members and our communities. Happy Anniversary, Mutual Credit Union!”  

We invite our members and community partners to be a part of our celebrations during the 2021 anniversary year. Each month, we will focus, share, and celebrate together highlighting different aspects of Mutual Credit Union. We will feature giveaways, mementos, recognitions, and recaps of our storied history. Please make sure that you are signed up to receive emails from Mutual Credit Union and are following our social channels for each month’s details. 

Beginning on April 10, 1931, the first credit union charter granted in the state of Mississippi was issued to the Federal Credit Union of Vicksburg. Later, in 1934, the name was changed to The Mutual Credit Union of Vicksburg and then again in 1954, the name was changed to what we know today as Mutual Credit Union. Starting from a cigar box in the old post office building in downtown Vicksburg, MS, Mutual Credit Union has seen exponential growth over its’ 90 years. In 1974, Mutual moved out of the old post office building to 1411 Cherry Street and then again in 1985 to the present-day location of 1604 Cherry Street. To accommodate growth, branch locations were established on the campus of Waterways Experiment Station, South Frontage Road Branch (2003), Clay Street (2006), Raymond (2010), Yazoo City (2012), and most recently Lakeover Road, Jackson (2020). In 2006, the Mutual Credit Union charter was adapted to open membership to all those who Live, Work, Worship, Volunteer, or Attend school in Warren, Hinds, Yazoo, Issaquena, Sharkey, Claiborne, and Copiah Counties.  

Mutual Credit Union was the fourth credit union in the United States to offer online account access and related internet services. We’ve grown from savings and membership accounts only to offering a full range of financial services paired with digital and electronic service options. Today, members of Mutual Credit Union enjoy access to CO-OP ATMs, one of the largest ATM networks in the United States. All Mutual Credit Union ATMs are full-service ATMs featuring deposit and withdrawal features. Mobile Deposit, Bill Pay, App and Digital Wallet features are available on all Mutual Credit Union spending accounts, as well as access to a full-suite card manager for both debit and credit cards. Featuring online account and loan opening, document signing, and a full suite of loan options from mortgages, to autos to rewards credit cards, Mutual is thrilled to be a digital champion expanding and meeting the needs of our members both near and far.  Mutual Credit Union President, Michael Mathews stated, “During my ten years at Mutual I have seen many things change.  One constant has always been the attention to service and responsiveness to our membership.  I am reminded daily of the great work our team does assisting members with their financial needs.  I look forward to what the future holds for our great organization.” 

The Credit Union Movement began in 1847 in Flammersfeld, Germany. The poverty of farmers and workers was so appalling that a cooperative savings institution allowing them to pool their money and make loans to each other was established. The popular idea spread across Europe and in 1900, the first credit union was organized in Canada. The first credit union to open its doors in the United States was the Caissee Populaire St. Marie known today as St. Mary’s Bank, in 1909 in Manchester, New Hampshire. With the passage of the Federal Credit Union Act in 1934, credit unions could be organized anywhere in the United States. During the Great Depression, while other financial institutions were closing their doors, credit unions demonstrated that ordinary people could organize and provide for their own financial security. Cooperative effort was, and still is, the key to credit union success.  

We look forward to all that 2021 will bring while reflecting on our dynamic history. We thank you for your continued support of the credit union movement here in your local community by being a part of Mutual Credit Union. Together, we can continue to embody the credit union philosophy of “People Helping People” in service and in spirit. 

For more information about Mutual Credit Union please follow this link to our webpage. For additional questions, please contact the marketing department at marketing@mutualcu.org or by calling (601) 636-7523 ext. 1226. 

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2021-2022 Mutual Credit Union Scholarship Committee NOW Accepting Applications

January 14, 2021

2021-2022 Mutual Credit Union Scholarship

(Vicksburg, MS): The Mutual Credit Union Scholarship Committee is pleased to announce the we are accepting applications for our 2021-2022 Mutual CU Scholarship. Every year, Mutual provides $10,000 in awards for the upcoming school year to recognize its members who have shown scholastic achievement and who are interested in advancing their education. We will award six (6) scholarships in the amount of $3000, $2000, (2) $1500, and (2) $1000 to High School Seniors who best meet the requirements.

The deadline to apply is Wednesday, March 31, 2021. A completed application package must be mailed or delivered by March 31, 2021 to the following address:

Mutual Credit Union • ATTN: Susan Mandarino • PO Box 25 • Vicksburg, MS 39181

It can also be emailed to smandarino@mutualcu.org or delivered to any of our branch locations. For additional questions or to request an application be mailed to you, please call 877-457-3654 ext. 1226 or email smandarino@mutualcu.org.

Mutual CU has a firmly-held belief that the education of our community’s youth is a solid investment in our community’s future. We wish the best of luck to all applicants and to each of our graduating seniors.

Hours of operation for all Mutual locations are Monday – Thursday 9 a.m. – 5 p.m. and Friday 9 a.m. – 5:30 p.m.; drive through services open at 8:30 a.m. Account access is also available 24/7/365 by visiting www.mutualcu.org, using the Mutual Credit Union app on your mobile device or by calling our SAM Audio Response System at 1-877-457-3654 Option 1.

For more information about the Mutual Credit Union Scholarship program, please follow this link to our webpage. For additional questions, please contact the marketing department at marketing@mutualcu.org or by calling (601) 636-7523 ext. 1226.

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Christmas Celebrations Apart but Together in 2020

Our Mutual Credit Union Christmas celebrations looked completely different than in years past. Our Mutual family looks forward every year to celebrating our challenges, achievements, and future missions together as we look to close out another year. However, this year, like so many others, we are split in many directions. Some are working at a distance, some are working at different branches, while others are multi-tasking from day to day either in or out of the office. Nevertheless, this is still a time of year for giving, celebrating, and cherishing our time together even while we are apart. In a way, uniquely Mutual, we planned a “Countdown to Christmas.” Each day leading up to Christmas, we featured fun and festive experiences to share together. We hope you enjoy this small taste of our “Countdown to Christmas.”

Tasty Sweets to Enjoy from our Christmas Cookie Recipe Exchange

Special Guest Appearance and Pep Talk by the One and Only, Jaleel White

Escape into the Winter Wonderland of Mutual CU Parade of Christmas Trees

Nothing Like a Healthy Lip-Syncing Competition, Christmas Carol Style

‘Tis the Season of Giving to Good Shepherd Community Center and Warren-Yazoo Behavioral Health

Who Down in Whooville is the Ugly Sweater Competition Winner!?!

Ashley Sampley, 2020 Ugly Sweater Competition Winner

Merry Christmas from our Family to Yours!