Word of the Month: Work Ethic

 

Youth working movie theatre concessionsSchool was out, and Aaron and Tom were counting down the days until July. That’s when their first real job would start and they could hardly wait.

“It’s going to be awesome!” Tom said to Aaron while they practiced shooting baskets at the park. “At the end of the summer, we’re gonna be rich!”

Aaron laughed and easily sank a shot from center court. He didn’t think he and Tom would be rich with the money they were making, but he was excited to start his first real job. He almost felt like a grown-up!        

“Don’t forget the best part,” he shouted to Tom over the sound of the bouncing ball. “Free ice cream every day!”

Tom and Aaron had gotten summer jobs at Scoops, the neighborhood ice cream store. They’d be helping the owner, Mr. Smith, behind the counter for a few hours each afternoon during the busy summer months.

“It’s going to be so much fun working at Scoops,” Tom said, catching the ball. ”I can’t think of any job I’d like to do more!”

Aaron nodded happily. Tom was right: it was going to be awesome!

***

One week later, Tom and Aaron met up at the intersection of Oak Street and Maple Drive for the walk to Scoops on their first day of work.

“This is going to be the best job ever!” Tom yelled, pumping his fist in the air.

But four hours later, he was telling another story.

“I have never worked so hard in my life!” he complained, collapsing onto a bench down the block from the ice cream store.

Aaron dropped into the spot next to him and let out a loud groan. “That was crazy,” he agreed.

“I thought this job would be fun Getting people the ice cream flavor they want, putting on the toppings, working the cash register—but it was so hard!”

And it was. Scoops had been packed all afternoon, and it wasn’t easy to keep the customers happy, make sure everyone got the right change and greet each person with a smile, too, like Mr. Smith insisted they do.

Aaron shrugged. “Don’t forget; we’re getting paid for this work,” he tried to cheer up Tom. But Tom still brooded.

***

The next day, when Aaron reached the intersection of Oak and Maple, Tom was nowhere to be found. Aaron waited one minute. Then two  and three, but still no Tom. He looked at his watch. If he didn’t leave soon, he’d be late to work!

Finally, after waiting seven whole minutes, Aaron left. He ran all the way to work so he would still be on time.

Tom showed up 15 minutes later, not looking too happy to be at work. Mr. Smith didn’t look too happy to see him either. He handed Tom a Scoops apron and told him to get started at the toppings center.

Work that day was a little easier than the first day, since Aaron and Tom knew what to expect. They were also learning their way around the counter a little better and everything took them less time.

“That wasn’t so bad, was it?” Aaron told Tom as they licked their triple-scoop cones after work that day.

Tom just shrugged.

The next day, Tom was waiting for Aaron at Oak and Maple and Aaron was happy to see him.

“I’m leaving early today,” Tom told Aaron. “My aunt is taking my cousins to a Cubs game and they’re leaving at 4:15. They invited me to come along and I need to leave at 4 in order to be at their house on time.”

“Can’t they leave a little later?” Aaron asked. Their job was over at 4:30 every day. Aaron remembered Mr. Smith’s frown when Tom had shown up late for work yesterday and he couldn’t imagine their boss would be too happy if Tom left a whole half-hour early.

“Nope,” Tom shrugged as they reached the door of Scoops. They both walked into work together.

Later that afternoon, after exchanging a few words with an unhappy-looking Mr. Smith, Tom gave Aaron a little wave and hurried out of the store.

The rest of the week passed quickly. On Thursday, Tom came late again—this time a whole hour late. On Friday, Tom and Aaron walked through the doors with huge smiles on their faces.

“Payday!” they whooped, exchanging high-fives.

But a few hours later, when they got their checks from Mr. Smith, only Aaron was smiling.

“What’s this?” Tom asked Mr. Smith.

“That’s your paycheck,” Mr. Smith said calmly.

“But why is it so much less than it’s supposed to be?” Tom whined.

Aaron saw that his friend was upset. “We were supposed to get paid the same,” he said, coming to Tom’s defense. “Why is my check so much higher than Tom’s?”

“That’s because I hired you with the understanding that you’d get paid a specific salary if you worked a certain number of hours each week, right?”

Tom and Aaron nodded. Aaron had a feeling he knew where this was going.

“And you, Aaron,” said Mr. Smith, “have worked all those hours.”

Mr. Smith turned to Tom, who was staring at the floor. “While you, Tom, have not. You’ve come late, you’ve left early, and I’ve paid you what I believe is a fair rate for the amount of hours you actually worked. You need to learn how to develop—and to respect—a work ethic.”

Tom looked interested. “What’s that?” he asked.

“That means respecting a job. Being on time. Fulfilling your responsibilities. Doing what you are hired to do. Showing that it matters to you. Do you know why it is important to have a work ethic?”

“Why?” asked Tom.

“Because, when you accept a job, you are committing to do the work involved,” Mr. Smith explained. “You are giving your word that you will fulfill your responsibilities. And if you want your job to pay off and to open new opportunities for you, you need to show that you can handle the workload and do your job well. Do you understand what I’m saying?”

Tom nodded, looking thoughtful. He was quiet all the way home.  

The next day, when Aaron reached the corner of Oak and Maple, Tom was there to greet him. Tom stayed until 4:30 sharp that afternoon, and all the days the rest of the week.

On Friday, Mr. Smith was smiling widely when he handed them their checks.

“Full paycheck for both of you this week,” he said.

The boys thanked him, but he wasn’t done.

“Can you stay a few minutes late today?” he asked the boys. “I have an interesting opportunity you might want to hear about.”

Aaron and Tom shared a quick fist-pump when Mr. Smith’s back was turned. They didn’t know what Mr. Smith wanted to talk to them about, but it sounded interesting. And they knew it was only because they had shown a strong work ethic.

Talking Points:

  • Can you think of three ways to show a strong work ethic?
  • Do you think it’s easier to show a strong work ethic at an easy job?
  • How can a strong work ethic help you get ahead in life?

All You Need to Know About Remote Deposit Capture

In a world where you can order almost anything using your mobile phone, it makes sense that we, Mutual Credit Union offers a complete mobile banking experience for our members. remote-check-capture

One of the most convenient features we offer through our mobile banking service is Remote Deposit Capture. All it takes to deposit a check is a few minutes of your time and a phone with internet access. 

Let’s take a closer look at remote deposit capture and mobile deposits. 

What is remote deposit capture? 

Remote check capture is a way for you to deposit a check into your Mutual Credit Union Checking Account from a distant location using a mobile device with internet access. You can be practically anywhere in the world and make your deposit at any time. 

The process is simple: You’ll sign into your Mutual Credit Union mobile app and prepare your check for deposit. Tap on the Check Deposits icon and the app will guide you through snapping a picture of both the front and the back of the check. You’ll also be asked to verify the check amount. Once you’ve made the confirmation, your check will be submitted for deposit into your account. 

It’s that easy. 

The benefits of remote check capture 

1. Convenience. As mentioned, with remote check capture, you can make your deposit anywhere, at any time.

2. Speed. Your check will generally clear more quickly through a mobile deposit than it will through an ATM deposit.

3. Accuracy. You’ll be asked to confirm the check amount for accuracy. On the small chance that an error or rejection happens, you’ll still have the physical check, which you can then deposit at any Mutual Branch location. 

Some facts you may not know about remote check capture 

A. Deposit limits. For your safety, the maximum amount you can remotely deposit in one check is $2500.

B. Bounced checks. Just like a confirmed check deposit can end up bouncing several days later, if we cannot collect the funds, a mobile deposit can also be returned for the same reasons.

C. Holds on checks. Any checks deposited after our evening cutoff of p.m. will be placed on hold until the next business day. 

But is it safe? 

We take many precautions for ensuring your personal information is protected throughout the remote check capture process. 

First, no one can sign into your Mutual Credit Union mobile account without two-factor authentication. Always use strong, unique passwords. 

Second, our mobile app does not store your check images in your phone. Once your check has been submitted, the image is erased from your phone and stored only in our own software. 

Finally, if an error occurs, you’ll always have the physical check to deposit if necessary. 

Mutual Credit Union Remote Deposit Capture is quick, easy and safe. Try it today! 

For even more information on Mutual Credit Union Remote Deposit Capture, visit our website .

Your Turn: What do you love about remote check capture? Tell us about it in the comments!

SOURCES:

https://www.thebalance.com/mobile-check-deposits-vs-atm-deposits-315007

https://www.bankrate.com/banking/5-crucial-facts-everyone-should-know-about-mobile-check-deposit/amp/

https://www.digitalcheck.com/history-of-rdc/

The Credit Union Difference: The History of Credit Unions

pros cons bank _ credit union

As a member of Mutual Credit Union, you know the heart of any credit union is to serve members and communities as much as possible. We value each member’s input as an equal owner in the credit union, and we offer flexible loan terms, low-cost accounts and higher dividends to help members achieve and maintain financial wellness. 

This article is the first in a series celebrating the history, contributions and benefits of credit unions. 

Both credit unions and banks provide consumers with financial services and products, but there are many distinctions between the two. The primary credit union difference lies at its core; Banks are created to generate profit for owners while credit unions are created to provide members with a place to manage their finances at the best possible terms. 

The goal of putting members first is deeply rooted in the history of the credit union movement. 

The first credit union was established in 1864 by Friedrich Raiffeisen in southern Germany. Raiffeisen proposed that all community members pool resources so individuals in need of loans could easily access the necessary funds. Raiffeisen’s idea was well-received, and the first credit union model was soon established. 

In 1909, the credit union movement reached American shores. With Edward Filene serving as its pioneer, the movement gained momentum and continued to grow. In 1920, Edward hired attorney Roy F. Bergengren to assist him in generating the movement’s expansion. Roy created a more systemized concept for the credit union we know today.  

In 1934, President Franklin D. Roosevelt signed the Federal Credit Union Act into law.

Federally chartered credit unions in every state were legally authorized to create a system of not-for-profit cooperatives to promote thrift and sound financial practices. 

In 1970, the public’s confidence in the credit union model grew stronger as the National Credit Union Share Insurance Fund was established. With it, credit union deposits became federally insured much like the FDIC insures bank deposits. 

The credit union movement was growing at its most rapid pace, with credit union assets in America tripling between 1970 and 1979. Then, in 1977, another credit union-friendly regulation was signed into law, empowering credit unions to offer more services and products to members. 

Today, the credit union movement continues to thrive and is backed by the “full faith and credit of the United States Government.” These not-for-profit institutions serve their 103 million+ members by always putting their members’ needs first.   

Here at Mutual Credit Union, we’re proud to join the chain of institutions committed to the credit union mission. As a member-owned cooperative, our only objective is your success. 

Be a part of the credit union movement by calling, clicking or stopping by any of our five branch locations of Mutual Credit Union today to benefit from our personalized service. 

Your Turn: How does the core credit union value impact your finances in a positive way? Share your thoughts with us in the comments.

 

SOURCES:

https://www.mycreditunion.gov/about-credit-unions/historical-timeline

https://www.thebalance.com/national-credit-union-share-insurance-fund-ncusif-315404

https://www.creditkarma.com/advice/i/difference-between-credit-union-and-bank/%3Famp

https://www.nerdwallet.com/blog/banking/credit-unions-vs-banks/

12 Things To Do Before Your Summer Getaway

car packing for vacation

Heading out of town for vacation? Whatever your plans, here’s a list of things to take care of before you leave. 

1.) Let us know about your plans 

Give us a call at 877-457-3654 before you set off on your vacay. Let us know your vacation destination so we know to honor any card transactions you make while in another state. You can also visit https://www.mutualcu.org and complete the Travel Notification Form. If you’re traveling overseas, ask us about foreign transaction fees and best practices for using cash and cards. We’ll help you make the best decisions for managing your money while you’re away. You can also view the shared branching network with list of branch and ATM locations to avoid transaction fees and ATM fees. 

2.) Check your auto insurance plan for coverage 

If you plan on renting a car, check with your auto insurance provider to find out if rental cars are covered in your policy. 

3.) Pay all your bills 

Before heading out, make sure all of your monthly bills are paid up. You don’t want to be busy paying bills during your vacay or risk getting late fees. 

4.) Automate your email 

Set up an automatic email response that lets people know you’re out of the office to avoid appearing unprofessional or shoddy. 

5.) Put your mail on hold 

If you’ll be gone a while, ask the USPS to hold your mail at the post office until your return. You can do this online! 

6.) Unplug your electronics 

Pull the plug on all small appliances and electronics before you leave to prevent vampire energy leakage. 

7.) Clean your home 

Before your departure, give your house a thorough cleaning so you’ll be greeted by a spotless, clean-smelling house upon your return. You’ll also help avoid an invasion by ants or other critters. 

8.) Let your mobile service provider know about your travel plans 

If you’re travelling abroad, check with your cellphone company about possible overseas service plans that allow you to use your smartphone for calls, texts and internet access when on vacation. 

9.) Shut your main water supply 

Avoid coming home to a flood by turning off your water supply before leaving.   

10.) Adjust your thermostats 

If you have the AC blasting throughout the summer, remember to adjust your thermostat before leaving. Turning it off completely is unwise, as you’ll want some air to circulate to keep humidity under control and to avoid mold growth. Also, set your hot water heater to vacation mode/setting. 

11.) Invest in a timer 

Keep the prowlers out by setting your lights to go on and off in different rooms and at different times of the day throughout your vacation. 

12.) Confirm your reservations 

It’s a good idea to confirm your flight, hotel room, car rental and attractions before setting out on your trip. 

Here’s hoping you have the vacation of a lifetime from all of us here at Mutual Credit Union! 

Your Turn: Share your own pre-vacation to-do list with us in the comments.

 

SOURCES:

https://www.blog.esurance.com/10-essential-things-to-do-before-leaving-for-vacation/amp/

https://www.timeinc.net/travelandleisure/travel-tips/things-to-do-before-you-go-on-vacation

https://www.mintnotion.com/travel/20-things-we-forget-to-do-before-going-on-vacation/

The Credit Union Difference: What’s In A Membership

Teller at the window

As a member of Mutual Credit Union, you are uniquely positioned to manage your finances and watch your money grow, all with the best possible terms. Let’s take a quick look at some of the benefits you can enjoy as a member of Mutual Credit Union. 

1.) Highly personalized service 

When you step through the door of Mutual, you know you’ll always be welcomed with familiar faces, warm smiles and friendly greetings. There are no aloof tellers here—just our friendly and helpful service representatives who treat you like family. No matter your age or stage, our Financial Service Representatives are happy to guide you through any monetary challenge while assisting you in reaching your financial goals. 

At Mutual, our outstanding member service means we’re personally invested in your happiness and only want to see your success. To that end, we’ll grant you a loan quicker than most big banks, graciously looking past some tarnished credit and skipping the overly thorough background check. We also provide financial education information to our members and the larger community throughout the year. 

2.) Increased value for your money 

As a not-for-profit cooperative, your credit union has modest overhead and marketing expenses. Mutual is proud to pass these savings on to you in the form of low or no account fees, better loan terms and higher dividend payments on your Share Certificates, Savings Accounts and more. 

According to a report by the Credit Union National Association (CUNA) that studied credit unions in New York from March of 2017 through March of 2018, credit unions provided average financial benefits equivalent to $85 per member and $178 per household. 

3.) A voice in how the credit union operates 

As a full-fledged member of Mutual Credit Union, you have a voice in how your credit union runs. You are invited to cast your ballot in our Annual elections in which we vote on a volunteer board of directors. The board is then charged with oversight of the credit union and the forming of all official decisions regarding the way the credit union operates. 

4.) A chance to give back to the community 

At Mutual, we’re strong believers in giving back to our community. We support many community initiatives and organizations and we are committed to making decisions that benefit the entire community. We are especially invested in the success of education and financial literacy to our children, a cause that is dear to our hearts. 

When you choose to be a member of Mutual Credit Union, you’re choosing to give back to the community, too. 

As a member, you are entitled to enjoy all of these benefits and so much more. Call, click, or stop by Mutual Credit Union, today to learn how to make your membership work for you in the best way possible. Visit the Mutual CU Website or give us a call at 877-457-3654. 

What are you waiting for? Experience the credit union difference, Today! 

Your Turn: What does your credit union membership mean to you? Tell us about it in the comments.

 

SOURCES:

https://www.creditkarma.com/advice/i/difference-between-credit-union-and-bank/%3Famp

https://www.thestreet.com/amp/personal-finance/credit-unions-vs-banks-14626262

https://www.nerdwallet.com/blog/banking/credit-unions-vs-banks/

Mutual Credit Union Receives M.A.C. Awards

Press Release

Friday, June 14, 2019

Mutual Credit Union Receives M.A.C. Awards

(Vicksburg, MS): On Friday, May 31, 2019 the Marketing Team of Mutual Credit Union comprised of Susan Mandarino and Lurline Simmons, were recognized as recipients of two awards during the 2019 Annual Marketing Association of Credit Unions Conference in New Orleans, LA. They received the following awards within the Credit Union Asset Size category of $500 million or less:

  • Bronze – Social Media Engagement for their Youth Savings Month Bulletin Board Contest
  • Bronze – Community Engagement for their partnership with the United Way of West Central MS & the Alexander Literacy Program

The Marketing Association of Credit Unions (M.A.C.) was established over 30 years ago by leading marketing professionals within the Credit Union Marketing Industry.  M.A.C. offers opportunities for workshops, professional development and free exchange of ideas across the Marketing industry. The M.A.C. awards program was established in 1986 to celebrate the great work of marketers across the United States. Judges for the M.A.C. awards are experts in the financial industry covering marketing, advertising, media and social media areas.

DSC_0765

(Pictured Left to Right: V.P. of Marketing, Susan Mandarino; Marketing & Communications Specialist, Lurline Simmons; and V. P. of Compliance, Katie Ferrell)

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.

###

Press Release M.A.C. Conference Awards

11 Steps To Improving Your Credit Score

BullsEye

 

Your credit score plays an important role in many aspects of your life, from the rate you get on a loan to passing a background check for your dream job. Having bad credit scoring can keep you from achieving your goals. Luckily, improving your credit score isn’t a mystery; it is a simple process that you just need to follow consistently.

Step 1: Check Your Credit Score

Your credit score is determined based on your credit history. Actions like your payment history, types of credit, and amount of credit are reported and recorded. Positive behavior, like making on-time payments, improves your credit score. Negative information, like late payments or bankruptcies, hurt your credit.

Your credit score is a number between 300 and 850 and is built looking at the last seven years of history. The lower the number, the poorer the credit.

The first step to fixing your credit is to know exactly where you stand. Too many people know they have “bad credit,” but don’t know exactly what their credit score is or what negative marks are on their credit report. Every American is entitled to a free copy of their credit report from all three major credit bureaus.

You can request your free credit reports here.

Step 2: Clear Any Mistakes

Now that you have your credit report, look through it to see what is negatively impacting your credit score (also called a derogatory mark). They could be things like late payments, an account in collections, or defaulting on a loan. Some of these might be legitimate, and we will discuss how to deal with those in a moment, but right now we are looking for anything that might be a mistake.

If you find an error, you will need to send a letter to the creditor letting them know of the mistake. The FTC provides a free letter template for filing this dispute.

There are other companies that provide digital tools to help you identify and dispute errors on your report.

Step 3: Settle What You Can

Once we have cleared all the errors from your report, you should focus on resolving what you can. There is a technique called “pay for delete.” Essentially, you call the collection agency holding the debt and ask them to remove the derogatory mark once you settle the debt. Not all agencies will do this as the legality of doing so is somewhat questionable.

Regardless of if you choose to try and negotiate a “pay for delete” deal, you should try and settle whatever debts you can, as that will always help your credit score.

Step 4: Prioritize Card Repayment For Utilization

One of the factors considered in your credit score is something called “credit utilization.” It is the amount of credit you have used in relation to your total combined credit limit. For the sake of simple math, pretend you have a credit line of $1,000. You spend $500 of it. You have utilized 50% of your credit ($500/$1000).

A general rule of thumb is to try to keep your credit utilization under 30%. The lower, the better, as it is a proxy of how well you are handling your debt.

To help improve your credit score, look for the credit card with the highest utilization score and pay that down. That will be a card that is maxed out. A card with a $100 limit and $99 spent will have a credit utilization of 99%. A card with a $1,000 limit and $99 spend will have a credit utilization of 9%. In this step, we’re looking for cheap and quick fix. This is different from a strategy to get out of debt; if that is your goal target the credit account with the highest interest rate.

Step 5: Automate Bill Payment

The single best thing you can do for your credit is to consistently pay bills on time and in full. Sometimes we fail to pay on time, even when we could, simply because we’re human and we forget. Remove the option to forget and enroll in automatic payments.

Bill pay is so valuable, that many institutions will provide a discount just for enrolling. Check your insurance provider, cell carrier, and financial institution to see what discounts might be available.

Step 6: Keep Accounts Open

Another heavily weighted variable in your credit score is the length of an account. Some people will advise cancelling your credit card when it gets paid of in order to remove temptation. If you feel like you need that, then certainly do it, however you will be removing an old line of credit. Consider cutting up the card but keeping the account open.

Step 7: Automate Credit Building

Remember, credit is built by successfully paying off debts on time. A simple way to ensure that it happens is to put small, recurring payments on a card and then have it automatically paid off in full each month. For example, put your water bill on automatic pay. Have that be the only bill on this credit card and set the card up to be paid in full every month.

Step 8: Become An Authorized User

Your score can benefit by becoming an authorized user on an account of someone who already has a great credit score. Since the time an account has been open is a factor, you might want to look to your parents or grandparents. Do not get a physical card or use this line of credit for purchases — you don’t need it. You just want your name on the account so that you can benefit from their good behavior.

Step 9: Get Rent Payments Counted

Not all bills are reported. For example, your rent payments don’t help you build credit, even though that is likely your most expensive monthly bill. There are some services out there that will help make sure you rent helps to build your credit.

These services work by either contacting your landlord, or by serving as a middle-man in making your rent payments (you cut them a check, then they pay your landlord). You’ll probably have to pay a monthly fee for this service, but it could be worth it for the boost in your credit score.

Step 10: Consider New Products

Another product you might want to consider enrolling in is Experian’s “Boost.” This feature helps you to get credit for your phone and utility bills.

Step 11: Don’t Open New Accounts

There are two issues to be aware of when it comes to opening new accounts.

First, applying for the account usually requires a credit inquiry. There are two types of checks (or pulls); hard and soft. Soft pulls are often done for things like a background check and don’t impact your credit score. Hard pulls are done when you apply for a line of credit (like a car loan) and they do lower your credit score anywhere from 5 to 20 points.

Second, opening several new accounts rapidly shows that you are looking to get a lot of credit, which can be interpreted as having financial difficulties.

Conclusion

Fixing your credit score isn’t hard, but it does require you to consistently follow some basic rules: know your scores, pay on time and in full, get credit for everything, and then continue credit monitoring. Repeating these steps raise your credit.

 

SOURCES:

https://blog.kasasa.com/2019/06/11-steps-to-improving-your-credit-score/

https://blog.kasasa.com/2018/07/how-does-my-credit-score-affect-my-car-loan/

https://www.annualcreditreport.com/index.action

https://www.consumer.ftc.gov/articles/0384-sample-letter-disputing-errors-your-credit-report

https://www.nerdwallet.com/blog/finance/credit-report-rent-payments-incorporated/

https://www.experian.com/consumer-products/credit-score-boost-a.html

 

Word of the Month: Debit Card

Teacher and student

Brandon was super-excited. His mom was taking him to Chuck E. Cheese’s today!

“Am I going to get a lot of tokens?” he asked his mom as they drove together. “I need a whole bunch so I can get a ton of tickets and win the best prize!”

Mom just smiled. “You’ll have enough,” she said.

They pulled up in front of Chuck E. Cheese’s and made their way inside. While Brandon’s mom got busy in front of the token machine, Brandon checked out a few of the games and tried to find the best ones to start with.

“Brandon,” mom called. She had finished paying and was holding out a card.

Brandon took it from her, puzzled. “What’s this?” he asked. “Don’t I need tokens to play?”

“Nope—you use this card,” mom explained. “You just scan it in front of the game you want, and it lets you play.”

Mom showed Brandon how to use the card, and he was soon off trying to win the most tickets he possibly could.

Brandon had a great time playing arcade games—until his card stopped working.

“Hey, mom!” he called, running towards where she sat, working on her laptop. “My card’s broken! I need a new one!”

Brandon’s mom quickly snapped her laptop closed. “There’s nothing wrong with your card, Brandon,” she said.

“So why isn’t it working?” he asked.

“Because you used up all the money I put on it!”

“What do you mean?” Brandon was confused.

Mom stood up and motioned for Brandon to follow her. She walked toward the machine she’d used earlier and started punching in numbers.

“I need to put money into the card in order for it to work,” she said. “It’s like a debit card.”

“A what?”

Mom reached into her purse and pulled out a plastic card. “This is a debit card,” she said. “I have a checking account at the credit union. I put money into that account, and when I use this card, money comes out of my account. Do you understand?”

Brandon nodded slowly.

“And that’s sort of how this machine works, too,” mom continued. “In order for you to use the card, I need to put money onto it.”

“And when I finish that money,” Brandon said, “I can’t use the card anymore, right?”

Mom smiled. “Exactly. Then we need to put more money into the ‘account.’”

Mom stuck her debit card into the card machine and punched a few numbers again. Then she took Brandon’s playing card and put it into the machine, too. A minute later, the machine beeped and both cards came sliding out.

“Here you go, Brandon,” mom said. “Your debit card is ready to use!”

Talking Points:

  • How is the card at Chuck E. Cheese’s like a regular debit card? How is it different?
  • Why do people use cards instead of cash (or tokens)?
  • Do you think people spend more or less money when they use a debit card instead of cash? Explain your answer.

What Features Should I Look for in a New Car

Keys to a new car

Q: How do I decide which features to look for in a new car, and which to skip? 

A: Shopping for a car doesn’t have to be complicated. To help you out, we’ve created a list of key features to consider in your new car, and a list of features you can skip. 

Must-have safety features 

  • 360-degree camera: This camera gives drivers a bird’s-eye view of the area around the car.
  • Evasive steering: This feature provides additional steering support when you’re in danger of colliding with another vehicle, and your own steering efforts are insufficient.
  • Forward collision warning: Drivers get a visual and/or audible alert when their vehicle is heading toward a forward collision.
  • Blind spot alert: This feature alerts the driver when there is an object or pedestrian in direct line of their blind spot.
  • Automatic emergency braking: Stay safe with this feature, which automatically applies the brakes when it senses a vehicle in your car’s way. Some systems include pedestrian detection as well.

Convenient features 

  • Automatic key-less entry: This feature automatically unlocks a car’s doors when it senses a nearby fob.
  • Power tailgate: This feature for pickup trucks and SUVs lets you lower and raise your tailgate with the push of a button.
  • Multi-zone climate system: Family road trips are peaceful again with this feature, which allows for different climate controls throughout the car.
  • Speedy USB-charging outlets: No more unbearable waits for your gadgets to power up with this super-speedy USB port.  
  • Heated steering wheel and driver’s seat: This one is for those frosty mornings when your car can’t get warm fast enough.
  • Wireless charging pad: Just place your phone on one of these pads and it will start powering up.

Fun-to-have features 

  • Home assist device connectivity: Some new cars allow you to use remote voice control with home assist technologies, like Alexa, for your car.
  • Rear entertainment systems: This feature gives the rear seat of your car a completely separate entertainment system.
  • Android Auto and Apple CarPlay: These features sync your smartphone’s interface with your car’s infotainment system for easier phone control.

Features you can skip 

  • Bigger wheels and thinner tires: The ride will be less comfortable and your wheels will be more prone to damage from potholes.
  • Built-in navigation systems: You know you’re going to use Waze or another Maps app on your phone most of the time anyway. Also, most built-in navigation systems require constant updates.
  • Lane keeping assist: This feature automatically steers or brakes your car when you cross a lane marking without turning on a blinker. In real life, though, it can be annoying as you’ll often need to cross a lane marker for good reason, like moving over for an emergency vehicle.

Before you start shopping, call, click, or stop by Mutual Credit Union to hear all about our new auto loans.

Mutual Auto Loans

Your Turn: Did you buy a new car recently? Tell us about the features you chose in the comments below.

 

SOURCES:

https://www.consumerreports.org/automotive-technology/must-have-features-to-get-in-next-new-car/

https://www.hotcars.com/must-have-car-features-for-2019/

https://cars.usnews.com/cars-trucks/cars-with-the-most-high-tech-features-for-the-money

Mutual Credit Union Director, Billy Bridges Inducted Into the 2019 MS Credit Union Hall of Fame

PRESS RELEASE

Friday, May 17, 2019

Billy Bridges Hall of Fame

Biloxi, Miss. (5/16/19) – – Mutual Credit Union Director, Billy Bridges has been inducted into the Mississippi Credit Union Hall of Fame. Created in 1993, the Mississippi Credit Union Hall of Fame is the state’s highest credit union honor, recognizing individuals that have devoted their life to the philosophy and success of credit unions at the local, state or national level.

Billy Bridges began his service on Mutual Credit Union’s Board of Directors in 1988, and he is still serving today. He held the position of vice-chairman for three years, and in 1993 was elected chairman, a position he held for almost 20 years.

At Mutual Credit Union, Billy was instrumental in his credit union’s expansion throughout Vicksburg and surrounding communities, including Raymond and Yazoo City. He is committed to improving all members’ financial quality of life and providing the quality services, facilities, and convenience that has resulted in Mutual Credit Union’s growth from $39 million to $215 million in assets.

Billy was elected to the Mississippi Credit Union Association Board of Directors in 1996 and is still serving today. He has served as chairman, and he is the longest serving vice-chairman in the board’s history. He is also the long-time chairman of the Personnel & Salary Committee.

An active supporter of the credit union movement, Billy has been a faithful participant in the annual Credit Union National Association Governmental Affairs Conference, and he played a significant role in rallying support in Congress for H.R.1151, the Credit Union Membership Access Act, which was signed into law in August 1998.

Billy’s 31 years of service to Mutual Credit Union and his more than 20 years of service to Mississippi’s credit unions on the MSCUA Board of Directors are characterized by his genuinely outstanding performance and countless hours of selfless service. He serves with honor and distinction and is an extraordinary ambassador for the credit union movement.

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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Press Release Billy Bridges Inducted into the MS Credit Union Hall of Fame