1. Social Security Number of student, along with parents’ social numbers if the student is a dependent
2. Driver’s license number, if you have one
3. Separate email addresses to use for student and parent portion of the application, makes the process less confusing as update emails get sent
4. Previous year tax returns for student and parents, if the student is a dependent
   • You may be able to retrieve and transfer your tax information automatically into the form by using the Internal Revenue Service Data Retrieval Tool (IRS DRT)
   • Example: Aid application for 2021-2022, you will need 2019 tax returns
5. Any “untaxed” income records, such as child support interest income or veterans noneducation benefits
6. Cash, savings, and checking account balances at the time of completing the form
7. Other investment balances such as stocks and bonds and real estate, except for your home
8. Print the documents once completed and keep for your records
9. You can save the FAFSA application and return to it should you not have all the information

• Consider a “junk” email address.
  •  Have one for signing up for mailings or ordering products online. It reduces the odds of your friends getting spam or malicious emails should your email get breached.

• Monitor your bank statements and credit card statements regularly.
• Monitor yourcredit score for free through MMFCU's online and mobile banking and review your credit report (at a minimum) once a year at: www.annualcreditreport.com
• Review your healthcare insurance benefit statements to assure the charges are for procedures or products you or family members have had.
• Buy a cross-cut type shredder.
  • Shred all financial information such as: bank statements, credit card receipts, pre-approved credit applications, etc.

• Be careful of “Dumpster Diving”.
  • This is still one of the major ways criminals get your information.

• Never provide your financial or credit card account number.
  • Unless you have initiated the purchase or the phone call, you should not provide your financial or credit card account numbers to anyone. Your financial institution will never ask you for your account number if they called YOU!

• Be watchful when using your PIN number at ATM’s or merchant keypads.
• Get checks directly deposited into your bank account(ie. Social Security, paychecks, etc)
• Empty your wallet of extras.
  • Remove your social security card and credit cards you do not use often. And, carry your birth certificate and passport only when necessary.

• Keep an emergency list.
  • Make a list of all your financial account numbers and credit card accounts and put it in a safe location; such as a safety deposit box at your financial institution.

1. Maximize FREE money first;
2. Utilize CHEAP money;
3. Fill the GAP responsibly.

• Apply early, apply often - Apply for every scholarship and grant you can find, even if it may not seem like a perfect fit for your major or field of study. If you don't apply, you can't get it. You may not get everything you apply for, but getting your name out there is the only way to get ahead.
• Search local - Many local companies are looking for talented local students to assist. It gives them a good connection with you and the community; and, ultimately, gives you the free money you need. Start by calling reputable local businesses and ask them if they have a scholarship program in place.
• Look for work study programs - These programs can be hard to come by since most of them are need-based, but apply yourself early and get your name in the running for these positions; and you'll have an even greater chance at accessing money that doesn't have to be paid back.

• Start by logging into online or mobile banking.
• Then click "Check Your Score" where you see an image similar to the one shown here.
• Annually, download your full credit report from annualcreditreport.com and read through them carefully using the Credit Report Checklist as a guide of what errors to look for. Make three copies of the checklist, one for each of the three nationwide credit reporting companies: Equifax, Experian and TransUnion.
• If you find any mistakes on your credit reports, you should dispute them and we can help. Mid Minnesota has a Disputing errors on your credit reports resource that walks you through how to do this.
• Continue to monitor your score to ensure you have not been a victim of identity theft.

1. Get an envelope. Every time you spend money, get a receipt and put it into the envelope. If the receipt doesn’t list what you purchased, take a few seconds and write it on the receipt. If you don’t get a receipt, write down the amount and what you purchased on a piece of paper and add it to the envelope. If you use a mobile device to keep track of your spending, that works too.
2. Review your spending each week. Go through your receipts and enter the total you spent in each category on this worksheet. Add the weekly amounts per category. Write these down in the “Category totals” column. Once you have these totals, add them together to get your total spending for the month.
3. Notice trends. Circle items that are the same every month (like rent, car, or cell phone payments). These are often your needs and obligations. Identify any areas you can eliminate or cut back on—these will generally be wants.

1. Use Online Banking or our Mobile App to monitor your accounts and transactions. Recently, Mid Minnesota strengthened the security of your personal information with a new log in process. If you are using an unrecognized device to log in or are doing a high-risk item, you will be sent a one-time verification code via text or email to confirm that it is really you.
2. Beyond just monitoring your accounts you can set alerts on your MMFCU debit or credit card based on the criteria you determine. Set alerts for specific dollar amounts, locations or types of transactions. You will receive an alert message when a transaction occurs based on your preferences.
3. Finally, we make monitoring your credit score easy in our Mobile App and Online Banking with Savvy Money. You receive monthly updates if your credit score changes. You also find out what impacted your score, so you know right away if it is legitimate. Below is a checklist of things you can do at home for additional protection of your identity. Call or stop by our office to get help signing up for any of these monitoring tools.

1. Set-up a “junk” email address for mailings or ordering products online to reduce the odds of your friends getting spam or malicious emails should your email get breeched.
2. Monitor your bank statements and credit card statements regularly.
3. Review your credit report (at a minimum) once a year at: www.annualcreditreport.com
4. Shred all financial information such as: bank statements, credit card receipts, pre-approved credit applications, etc. Shred personal documents at your local branch during MMFCU's annual Shred Days.
5. Have payments directly deposited into your account (ie. Social Security).
6. Empty your wallet of extras. Remove your social security card and credit cards you do not use often. Carry your birth certificate and passport only when necessary.
7. Keep an emergency list of all your financial account numbers and credit card accounts in a safe location, such as a safe deposit box at MMFCU.
8. Strengthen your passwords: minimum of 8 characters; use numbers, lowercase letters, uppercase letters and special characters, pick themes and phrases; don’t use names or phrases about yourself; and use different passwords for everything.

ACCOUNT NUMBER FRAUD

1. Review Account Transactions. Check your account transactions and identify any other fraudulent or unauthorized transactions.
2. Close and Open New Accounts. If you have any automated withdrawals or deposits, contact your merchants with your new account information. MMFCU's routing number is 291973360.
3. Stop Payment on Check. If you had a check(s) stolen, put a Stop Payment on the checks. If a fraudulent check has cleared your account, file a police report and provide MMFCU with a copy of the report and an affidavit that states you, the member, agrees to prosecute.

Contact the four major Credit Bureaus for additional support: Equifax: 1-888-378-4329 or go to www.Equifax.com and click on Credit Report Help Experian: 1-888-397-3742 or go to www.Experian.com and click on Consumer Support TransUnion: 1-833-395-6938 or go to www.transunion.com and click on Customer Support Innovis: 1-800-540-2505 or go to www.innovis.com and click on Personal

DEBIT/ATM/CREDIT CARD FRAUD

1. Review Account Transactions. Identity any fraudulent/unauthorized transactions. Monitor your credit/debit cards from all financial institutions. If you see any unusual activity, even small dollar amounts, contact your financial institution immediately. If Fraud occurred via ATM, file a police report and provide MMFCU a copy so we can assist with the next steps.
2. Sign up for Alerts. Stay informed and in control by setting up account alerts and controls on your Visa Debit and/or Credit Cards. MMFCU's real time alerts and controls will inform you about transactions, transfers, payments, and more.
3. Lock Your Card. Using the MMFCU Cards App you can lock your card to temporarily block new transactions to prevent fraud. You can unlock your card in the MMFCU Cards App too. Download the app at iTunes or Google Play.
4. Deactivate Your Compromised Card. You can come into your MMFCU office or call 1-866-820-8776 to deactivate your credit or debit card. To report fraud or dispute transactions on a credit card, call 1-866-820-3862. To report fraud or dispute transactions on a debit card , call 1-866-820-8776.
5. Place a Fraud Alert. You can place a free, one-year fraud alert by contacting one of the credit bureaus listed above. This will make it harder for someone to open new accounts in your name.

ONLINE BANKING FRAUD

1. Review Account Transactions. Identify any fraudulent/unauthorized transactions.
2. Change Credentials. Change your Log In credentials by logging in and changing the username and password. If you need assistance resetting a password, contact MMFCU at (218) 829-0371.
3. Delete Remembered Devices. In Online Banking, delete any remembered devices to ensure that access will be blocked for anyone who had previously gained access to your Online Banking.

BILL PAY FRAUD

1. Review Account Transactions. Identify any fraudulent/unauthorized transactions.
2. Call Merchants. Call the merchants who received unauthorized transactions to see if they can reject the funds.
3. Contact MMFCU. If you suspect fraud in Bill Pay, contact MMFCU at (218) 829-0371 to learn about your additional options for retrieving fraudulent/unauthorized payments.

COMMON TIPS

• Watch your Credit. You can watch your credit report via www.annualcreditreport.com for future account openings. This is a FREE service to review your credit report annually. you can also sign up for Savvy Money for free in Online Banking for monthly updates on your credit score. Ask an MMFCU staff member for more information about Savvy Money.
• Report it. Consider reporting fraud or identity theft to the Federal Trade Commission (FTC). When you file a report with the FTC you help them build cases, stop scammers, and alert others about current scams.
• When in doubt, don't give it out. It can be difficult to spot all the scams out there. If you have any doubts about who is contacting you, don't give them any private information. Do some research, check the MN Attorney General's Office for information about emerging scams or talk to a trusted friend or family member.
• Keep your contact information up to date. By updating your contact information, we will be able to reach you quickly in the even that we identify suspicious activity on your account. The Consumer Financial Protection Bureau offers How-To guides on protecting yourself from fraud.

MORE SUGGESTIONS AND ADDITIONAL RESOURCES

• Know the red flags of scams. Red flags of a scam can include pressuring you to send money, threatening legal action, asking for gift cards, or asking you to cash a check or send money via wire transfer.
• Stop the calls. Put your phone number on the National Do Not Call Registry to help stop phone scammers from contacting you.
• Create a strong password. Strong passwords can be a strong defense against hackers. If you can, use a different password for every site.
• Be careful about what you throw away. Don't toss, pre-approved credit offers in the trash without shredding them.
• Federal Trade Commission: Go to IdentityTheft.gov for help with reporting and recovering from identity theft.
• The Office of Minnesota Attorney General: Go to the Publications Section of the Office of the Minnesota Attorney General for a complete list of resource brochures based on the type of fraud you have experienced.
• Consumer Financial Protection Bureau: Go to consumerfinance.gov and click on Consumer Education. Under Money Topics you will find a section called Fraud & Scams that offers information on how to protect yourself from fraud.
• Mid Minnesota Federal Credit Union: Go to our Upcoming Events page to find videos on identity theft, senior fraud prevention, and online safety.

• Your new romantic interest professes their love quickly. Claims to be out of the country for business or military service.
• They send you a picture that looks more like a fashion model from a magazine than an ordinary snapshot.
• The person wants to leave the dating website and communicate with your through email and instant messaging quickly after first connecting.
• He or she lavishes you with attention. They will often bombard prospective marks with texts, emails and phone calls to draw you in.
• They repeatedly promise to meet you in person but always seem to come up with an excuse to cancel.
• They claim they need money for emergencies, even though they have never met you.

• Take it slowly. Ask your potential new love interest questions and watch for inconsistencies that might reveal they are lying to you.
• Listen to your gut. If it sounds and looks to good to be true, it is.
• Do your research. Google the person whom you are talking to. You can even check their photo by using Google’s “search by image” feature. If the same photo shows up elsewhere with a different name attached to it, that’s a sign a scammer may have stolen it.
• Be wary of flirtatious and overly complimentary emails. Paste the text into a search engine and see whether the same words show up on websites devoted to exposing romance scams.
• Cut off contact immediately, if you begin to suspect that the individual may be a swindler.
• Notify the dating site or the maker of the dating app, on which you met the scammer.
• Report it to the FTC .

• Don’t feel a false sense of safety because you made first contact. Some scammers wait for victims to come to them.
• Don’t reveal too much personal information on your profile or to someone you’ve chatted with only online. Some scammers will exploit this and manipulate you to get what they want. Or they might even commit identity theft.
• Don’t ever give or send an online acquaintance intimate photos that could later be used for extortion.
• Don’t give, lend or send cash, Money Gram, Western Union, re-loadable gift cards, gift cards to merchants, wire money or send any other type of virtual cash to someone you’ve chatted with only online, let alone someone you’ve never met- you’ll never get it back.

• HO-2 – A policy that only protects against 16 specified perils.
• HO-3 – A broad policy that protects against all perils other than those excluded in the policy.
• HO-5 – A premium policy that usually protects newer homes and covers all perils except the few excluded in the policy.
• HO-6 – Insurance for co-ops/condominiums, which includes personal property coverage and liability coverage.

A: The broad range of life insurance choices shouldn’t keep you from getting sufficient coverage. Here’s what you need to know about the most commonly purchased policies.

When you’re making improvements to your home, you’re not just making your life better in the short term. You’re also making an investment in your future. Ideally, the increase in the value of your home will exceed the cost of the improvement.

However, it seldom works out like that. The most efficient home improvements don’t pay for themselves immediately. The first item on this list has an ROI (Return on Investment) of 98%. That means you get back 98% of the money you put into it. To look at it another way, you lose 2% of your initial investment. It takes years for the appreciation in your home to recoup the expense of an improvement. When you’re making home improvements, though, you’re looking for ways to improve your quality of life while being as thrifty as possible. Calculating ROI can be difficult because the data is based on national averages. For instance, in drought-afflicted parts of the country, water-efficient fixtures, rainwater collection facilities and low-water landscaping will pay long-term dividends. In places with lots of solar exposure and high utility costs, solar panels will make your home more cost-efficient and attractive to buyers. Keeping that in mind, finding out what works for your market therefore depends a lot on trends and local conditions. There is some good news if you’re looking for more universal approaches for getting the best increase in value for your home improvement dollar. There are a few simple rules to follow. Seek relatively low-cost improvements that require little to no maintenance. They should immediately distinguish your house from similar homes and, ideally, they also improve the energy efficiency of your home. Here are four home remodel projects that can improve the resale value of your home. It’s the perfect time to choose one, as many of us are staycationing for the summer. You can fund them with a home equity line of credit (HELOC) and you may be able to save money by doing part or all of them yourself! By the way, consult your tax adviser to determine if these improvements apply for tax deductions. Replace the front door There’s an old adage in real estate that suggests the features get tours, but the front porch gets sales. People make decisions on home-buying all the time by starting with a gut reaction and finding reasons to support it later. Why not start your home remodeling project with the first thing you interact with on your house: the front door. Upgrading an old, poorly-fitting front door with a newer energy-efficient model is a cheap, quick project that can instantly improve your home’s efficiency and aesthetic appeal. Best of all, hanging a door can be done in an afternoon! With an average price of just over $1,200, including labor, an energy-efficient front door has an ROI of 98%! It’s also a chance to be creative. A new front door can add a splash of color, and window placements can break up a monotonous front profile. Minor kitchen remodels Replacing major appliances and installing new flooring is a difficult, time-consuming and expensive task. Being without a kitchen for weeks on end can be a nightmare, and the number of professionals needed to install new lighting and other features is mind-boggling. The national average for spending here is $57,000, and the ROI for major kitchen remodeling isn’t great, at only 68%. Minor kitchen upgrades, like new cabinets, counter-tops and energy-efficient cook-tops, are comparatively inexpensive. The average spend here is just under $20,000 with an estimated return on investment at an impressive 80%. Just like with the front door, the changes are mostly aesthetic. People perceive a more modern-looking kitchen as being a better fit than a more “retro” look. This is also a chance to customize a place where you spend a remarkable amount of time. Having a kitchen laid out just the way you like it can make it easier and more enjoyable to cook. This will encourage you to eat more meals in, and energy-efficient appliances can lower your electric bills for the life of the home. Wooden decks Outdoor space is one of the hallmarks of the current iteration of the American dream. Where else can a family sit and enjoy a frosty lemonade on a hot summer day? Watch the kids play in the yard while tending the grill on a beautiful wooden deck! The average cost, based upon a 16 foot by 20 foot wooden deck, is $12,000. The average return on investment is just over 80%. This is because of the perception of expanded living space at a reasonable price. Adding a deck costs about $40 per square foot, while a square foot of inside space costs an average of $90! Decks are a great way to increase the play space for a modest cost. Convert an attic space into a bedroom For most houses, the attic is an afterthought. It’s a place where unused craft projects and abandoned hobbies go to die. Consider turning that dead space into living space with a remodeling project! Turning an existing attic space into a spare bedroom or office, complete with its own bathroom, can be done for a slightly steeper price. Nationally, the average cost is just over $50,000. That includes constructing a room, extending utilities to it and adjusting the exterior of the house to accommodate the new space. This remodel provides a 77% return on investment in resale value, with the potential for more. If you have adult children or relatives visiting from out of town, an attic room can be a wonderful guest room. You could also rent it out for additional income! If you need some funds to help with your home improvement projects, now is the time to try a Home Equity loan. Contact our expert staff for more information at (218) 829-0371.  

I’m doing some home renovations this year and I’m not sure how to finance this expense. There are so many options! Which one makes the most sense?

As a member of Mid Minnesota Federal Credit Union, you have several options for funding a home renovation. You can open a HELOC, or a Home Equity Line of Credit, which is an open credit line that's secured by your home's value for up to 10 years. You can also fund your renovations with an unsecured loan or use your credit cards. One of the best ways to fund a home renovation, though, is by taking out a Home Equity Loan. Let’s take a closer look at this popular loan option. What is a home equity loan? A home equity loan is a loan secured by a home’s value. When homeowners open a home equity loan, they will receive a fixed amount of cash in one lump sum. Most home equity loans have a fixed interest rate, a fixed term and a fixed monthly payment. What are the advantages of a home equity loan? The primary benefit a home equity loan has over other loans is its fixed interest rate. This means the loan will not be subject to increasing interest rates and borrowers know exactly how much their monthly payment will be for the entire life of the loan. Also, the interest paid on a home equity loan may be tax-deductible (consult your tax adviser for details). Another benefit of the home equity loan is its repayment plan. Borrowers will be making payments toward the loan’s interest and principal throughout its life. At the end of the loan term, the entire amount will be paid up. Are there any disadvantages to taking out a home equity loan? While a home equity loan offers the funds needed to cover a home improvement project with an affordable repayment plan, it’s important to know about every aspect of a home equity loan before applying. Taking out a home equity loan means paying several fees. It’s best to find out how much these fees will amount to before applying for the loan. Also, when taking out a home equity loan, borrowers will receive their funds in one shot. This makes a home equity loan a great option for homeowners who know exactly what kind of work they will do on their homes. However, if they only have a vague idea about the renovations they want to do and how much they’ll cost, they may end up borrowing an insufficient amount. Finally, borrowers will need to make a monthly payment on their loan throughout its life. Before taking out a home equity loan, be sure you can afford the payments. To learn more about home equity loans call our expert staff at (218) 829-0371, or start your application online.  

1. Clean leaves and debris out of eavestroughs, window wells, gutters and downspouts to keep water from pooling and freezing, causing more problems in the long run.
2. Trim shrubs and trees to keep branches from breaking and blowing onto your house.
3. Turn off outside water taps and bring in hoses. Water inside the hoses may freeze and expand causing damage.
4. Clear your chimney of obstructions. Birds’ nests and any build up can cause smoke to back up or even be flammable and start a fire.
5. Check your roof for looses or broken shingles or flashing, and patch if necessary.
6. Redo caulking and weather-stripping around doors and windows, and fill any remaining gaps with insulation foam, to keep heat in. If you have drafty windows, an easy solution is to purchase plastic window insulation kits.
7. Check attics, basements, windows and doors for air leaks. By finding and repairing these leaks, you may save on heating.
8. Have your furnace checked by a professional. If you have a filter, make sure you change it.
9. Change out batteries in smoke and carbon monoxide detectors. Not having functioning detectors at any time throughout the year can be dangerous, but in the winter when furnaces are on the risk of carbon monoxide poisoning increases.
10. Move flammable materials and electric appliances away from heating devices.
11. Reverse any ceiling fans to a clockwise direction to push warm air down from the ceiling.
12. Change outdoor lightbulbs and set automatic light timers for earlier hours of darkness.
13. Test your downspouts, to make sure you have proper drainage from the roof.
14. Make sure your shovel is handy, so that you don’t have to go looking for it when the snow comes.
15. Start up your snow blower and if needed get it in for service.
16. Put away any objects outside that need to be housed in a garage or house for the winter.

• Pay all bills on time. Mid Minnesota can help.
• Keep credit utilization at less than 30 percent.
• Pay credit card bills in full, before they’re due.
• Don’t close old accounts or open new cards.

A home equity loan, or HEL, can be an ideal way to source extra funds. If approved, the average time from approval to loan funding is 30 days. There are no restrictions on how to use these funds, but since you’re essentially risking your home with this loan, it’s important to choose wisely.   Here are four forward-thinking uses for a home equity loan:

1. Home improvements

One of the most popular uses for home equity loan is for home renovations and improvements. Using your home’s equity for such projects is a smart choice for many reasons. For one, the money you put into the renovations acts as an investment. If you choose improvements that increase the home’s value, you can make back the money you spend or even see a return when you sell your home. Also, if you use the funds from a home equity loan to increase your home’s value, you may be able to deduct the interest paid on the loan from your taxes (be sure to also consult with your tax adviser).  

1. Debt consolidation

Another popular use for a home equity loan is to consolidate high-interest debt. Paying off multiple debts that have high interest rates can be cumbersome and difficult to manage. Worse, the heavy interest rates mean more of the borrower’s money goes toward the lender and less goes toward paying down principal. Using a home equity loan to consolidate debt to a single and no-interest or low-interest loan can slash a pile of debt by several thousands of dollars and help shorten repayment time by several years.  

1. Post-Secondary Education

When interest rates are falling, funding a college education through a home equity loan instead of a high-interest student loan can be a smart choice to further yours or a family member’s education. Similarly, homeowners struggling to meet their student debt payments without defaulting on the loan might want to use their home’s equity to pay off the debt quickly and replace it with a more manageable low-interest loan.  

1. Emergency fund

If you’ve been struggling to get an emergency fund going, tapping into your home’s equity can be a great way to get what you need. You’ll have a large stash of cash to build your fund, and the manageable payment plan will help ensure you put money into savings each month. If you’re ready to take out a home equity loan, we can help. Our rates and terms are always competitive. Start an application online, give us a call or stop by Mid Minnesota Federal Credit Union.  

1. SET A BUDGET & STICK WITH IT Budgeting can seem overwhelming, but it will help you organize your money, so you can save the leftover each month. Remember, setting a budget is good but going back and keeping track if you are staying on budget is even better. MMFCU has budgeting tools to help.
2. PAY YOUR BILLS ON TIME Want to keep your credit score healthy and save money? Pay your bills on time! You can include a monthly bill schedule in your budget or even automate your bill payments. That way you’ll never miss a payment and you won’t have to stress about when the next bill comes due. You can even use MMFCU’s Bill Pay to get started and Savvy Money in Online Banking to track your credit score!
3. ESTABLISH A RAINY-DAY FUND If you don’t already have a rainy-day fund, start one. The Round-Up Savings option for MMFCU’s Debit Card makes it easy! A rainy-day fund can help you prepare for unexpected events or income fluctuations. Most financial experts agree that 6 months’ worth of expenses saved is a good goal.
4. MANAGE DEBT Paying off debt can help you free up funds and save some money that you can put towards your retirement. Some ways you can lower your debt are paying more than the minimum on credit cards and paying off debt with the highest interest rate first. You can also consolidate your debt with a personal loan or transfer credit card balances to a MMFCU card.
5. IT’S NEVER TOO EARLY TO START SAVING FOR RETIREMENT If you aren’t already saving for retirement, start! The more you put into your retirement now, the more it will earn in the future. An Individual Retirement Account (IRA) or an individual brokerage account are a good place to start, but there are many options to choose from. If your place of employment offers a 401(k), you can have money automatically withdrawn from your paycheck to build up your retirement more consistently.

Merit-based scholarships

Grants

Federal Work-Study Program

To do: Swap in LED light bulbs

To do: Program the Thermostat

Make a List – and Check it Twice!

Take Advantage of Money Saving Tricks

• Closing costs
• HOA Fees
• Home improvement projects
• Taxes
• Insurance

Check Your Credit

Look into first-time home buyer programs

Get preapproved

• Pre-approval can be done before a home has been chosen.
• A lender will inform you if you've been approved for a specific loan amount.
• You must verify income and submit personal financial documents.
• Hard pull on a credit report is required, and a deeper dive into financial standing.

Start searching

Step into homeownership!

• Making an offer
• Getting a home inspection
• Getting a home appraisal
• Asking for repairs, if needed
• Completing a final walkthrough
• Closing on your first home

• Rewards a larger balance
• Earn 5%^APY on balances up to $10,000

KASASA CASHBACK CHECKING

• Rewards debit card use
• Earn 2%^APY on debit card purchases, up to $8 per month

SIMPLY CHECKING

• No minimum balance required
• No monthly service charges

MONEY MARKET CHECKING & SAVINGS

• Built for investing with competitive rates
• Checking minimum of $1,500 to earn dividends
• Savings minimum of $25,000 to earn dividends

TERM SHARE CERTIFICATES

• $500 minimum to earn dividends
• Terms available from 6 to 48 months

ROUND-UP SAVINGS

• Pennies add up when you round each debit card purchase to the nearest dollar
• Daily deposit into the savings account of your choice

ESTATE SAVINGS

• For inheritance or life insurance proceeds while determining next steps
• High interest earning account

HEALTH SAVINGS ACCOUNT

• Pay your medical expenses with tax-free HSA distributions
• Save for future needs

YES YOUTH EDUCATION SAVINGS

• Earn a higher rate on the first $500
• Members age 0-17

Celebrate with us the week of January 30 - February 3.

• Never assume an unexpected call is legitimate. Hang up and call back using a number you can verify on a bill, a statement, the back of your debit or credit card, or an official website.
• Don’t give out personal information unless you've initiated the call – account numbers, any part of your debit or credit card numbers, CVV code, expiration date, Social Security number or any part of that number, username or passwords – or answer security questions. MMFCU will never ask for your account number if we call you. We will not ask for any personal information via telephone or email that you, the member, has not initiated.
• Be suspicious. Con artists can be very convincing: They may ask questions, or sound threatening, or sometimes seem too good to be true.
• Use extreme caution if you are being pressured for immediate payment or action.

• Shred all financial information such as: statements, credit card receipts, pre-approved credit applications, etc.
• Do not respond or click links if you receive a text or email you are not expecting. Never assume it is legitimate even if it looks like it is coming from a business or government agency you would normally trust. Instead contact the organization using a phone number or email address you can verify on a bill, a statement, the back of your debit or credit card, or an official website.
• Don’t give out personal information unless you’ve contacted the business or government agency. Be suspicious. Con artists can be very convincing: They may ask account related questions, or sound threatening, or sometimes seem too good to be true.
• Monitor your accounts regularly. Mid Minnesota Federal Credit Union’s online banking and mobile app allows you to do this anytime from anywhere and set-up alerts.
• Review your credit report at least once a year at: www.annualcreditreport.com or better yet use Savvy Money in online banking and mobile app to provide monthly updates on your credit report.
• Empty your wallet of extras. Remove your social security card and credit cards you do not use often. Carry your birth certificate and passport only when necessary.
• Keep an emergency list of all your financial account numbers and credit card accounts in a safe location, such as a safe deposit box at MMFCU.
• Strengthen your passwords: it is a proven fact that password length is the best way to ensure it is not compromised. Use a phrase or sentence that uses numbers, lowercase letters, uppercase letters and special characters. Don’t use names or phrases about yourself; and use different passwords for everything.

• scores range from 0 to 850 being the best.
• A score of 640 or higher is considered “good”, or like a “B” grade in school
• There are 5 factors that impact your score:
  • paying bills on time
  • the amount of debt you have
  • how long you have been paying your debt
  • if you have any new loans, and the types of debt- credit card versus a car loan.

1. Review your bank and credit card statements and highlight what you spent on necessities. Be honest with yourself, mortgage or rent, utilities, insurance, gas and groceries. This way you know what needs to be covered each month.
2. Now look at all the other expenses you paid out and those are the areas where you need to make hard decisions to cut back on.
3. Next step is pay yourself first and put money into a savings account which can start your rainy day fund.
4. Revisit your budget to assure you are staying on target as life changes.

• As I mentioned, it protects you and others listed on these materials from identity theft. Criminals are still rummaging through trash cans and waste bins to find boxes with any personal information they can get their hands on.
• You can save storage space. Piles of unnecessary papers and documents can cause clutter in the workplace or home.
• It is good for our environment. The paper that is shredded is recycled to make more paper and for composting.

1. Before you apply for a loan, you need to have a clear picture of where your business is headed. Both with immediate needs and short- and long-term plans. Keep in mind, any seasonal changes that occur in your business. Agriculture or farming as an example.
2. You will need to determine how much debt you are comfortable with before you apply. Be honest with yourself. If business slows down, how much can you afford. 
3. Having all the basic business documents organized will make the application process smoother. This includes business tax returns, business plans, ownership structure, income and expense projections and possibly personal financial statements

1. Don’t answer calls from unknown numbers, if you do answer hang up immediately.
2. If you answer the call, do not answer any questions they ask.
3. Never give out personal information – social security number, mother’s maiden name, Medicare number are just a few they may ask for.

1. First, gather the information you'll need for a quote.
   • Start with your existing insurance documents.
   • For a new car, truck, boat or camper you’ll need model information, who will be driving and their driving history.
   • For a new home or cabin the purchase agreement will have most of your information.
   • For health or life insurance you will need more personal information, such as health history.
2. Once that is pulled together, comparison shop insurance companies.
   • Contact both major insurance carriers, but also independent insurance agents who can check several carries at one time.
3. Provide each company the same information, so when you get quotes back, you are comparing apples to apples.
4. Finally, you will be armed with quotes, and can determine which is best for you.

1. Find ways to save while on a vacation. You’ve earned your time away.
   • Stay flexible with your vacation dates, as certain weeks may be cheaper to travel and lodge.
   • If you have a kitchen in your hotel room or Airbnb, etc., consider packing lunches for the day and cooking dinner for a few nights to reduce the restaurant charges.
   • Research “buy one get one” packages through an area chamber of commerce or local city apps like Groupon.
2. Pay attention to the temperature of your home. If able, program the temp to be slightly higher when you and your family are not at home and adjust it when you get back for your comfort.
3. Don’t forget about your bills. Make sure you have taken care of any payments and bills that are due while you are away, that way you do not need to worry about late fees.
4. For the future, set up a holiday or vacation saving account which is automatic. By having a separate account or fund, you can budget for these specials times and not throw your household budget out of whack.

• Look for zero-interest plans and watch out for plans that may charge interest and fees.
• You do not need a credit score to use these types of plans. That can be good for those with no or low credit scores. But be aware, these payments are not reported to the major three credit bureaus (Equifax, Experian and TransUnion), so you are not establishing a credit history for your future.
• They are becoming readily available at major retailers when you check out, which can be convenient. But this convenience can easily turn into overspending if not careful.
• Some plans have limited customer service options. So if you have concerns or questions, it may be difficult to get resolution.

• Go back to the financial aid office at the institution and see if there are any additional funds available- new scholarships or additional financial aid you can receive. Specifically, ask about foundation scholarships that have not been awarded.
  1. In addition, ask about emergency grants if you have come upon financial hardship. And you can ask the school to review your financial aid due to any drastic changes in your personal situation.
• Are there jobs at the school you can take on?
  1. Resident Assistant in a dorm that could reduce your housing and food costs.
  2. Check out work study jobs that may be going unfilled in this tight labor market at the school.
  3. Are there tutoring or coaching opportunities?
• Look for short term work you can get on your own, such as child care or house sitting, or moving furniture on the weekend. Even though it is not steady work, any additional money can help.

1. An Emergency Fund. You should try to maintain three to six months of expenses in cash to cover for life’s unexpected events. We stress cash, because you do not want to tap into your IRA or 401(k) to cover surprise expenses.
2. No Mortgage. While mortgage debt is a “good debt,” there’s nothing better than no debt. As you enter retirement, you may find still paying a mortgage could be a real financial stressor with your reduced income.
3. Reduce or Eliminate Credit Card Debt. According to TransUnion, Americans 65 and older have an average of $4700 in credit card debt in the first quarter of 2023.***That takes a huge bite out of your month budget. Just like with a mortgage, any debt you carry into retirement will become more of a burden because you won’t be working as much or at all. Pay down your cards so that when you exit the workforce, you’ll have plenty of cash to spend on more important things, like new pickle ball rackets.

1. Log in to your student loan account to review your loan details. Make sure your contact information is correct and review your bank auto debit enrollment information. You will be notified before payments are due. The company you are making your student loan payment to may have changed (it did for about 2 million borrowers when payments were paused). Be sure you know who currently holds your loan(s).
2. Review communication about your loans carefully to avoid scams. Do not provide any personal information by phone or email unless you are certain it is from the company that holds your loan. If unsure, look up the company information on their website, and call them directly.
3. If you stopped making loan payments during the pause, you will need to put them back into your budget. Consider applying for an income driven repayment plan (IDR).
4. Don’t wait. About 44 million borrowers will be resuming payments this fall, so there could be long waits for personal assistance.

• Having a credit card can help cover unexpected costs.
• Using a credit card for purchases can protect you from the impact of theft or fraud because card companies help protect you and can manage the recovery process.
• Many credit cards include rewards programs, like cash back, rebates, and travel points. Using them to pay for everyday purchases can be a responsible way to earn rewards.
• Some cards provide travel insurance, and they are convenient while traveling internationally because the currency conversion will happen automatically.

• If you’re not careful you can easily spend more than you can afford. Credit cards are handy for big-ticket purchases, but develop a plan to pay off the balance quickly.
• When you carry a balance on your credit card bill, you get charged interest. Many cards feature introductory offers of zero-percent for a short period of time, but the average interest rate for a credit card was 24.72% in August per Forbes Advisor*, those rates add up interest charges very quickly.

• Co-signing allows you to help someone who otherwise would not qualify for a loan. This could be a friend or family member who is still building their credit history.
• When payments are made on time, both the primary borrower and the co-signer's credit scores can improve.
• For younger individuals, it offers an opportunity for financial education. The co-signer can guide them through the process and help them understand the responsibility of managing debt.

• If the primary borrower fails to make timely payments, the co-signer is held financially responsible. This can negatively impact their credit score and overall financial standing.
• As a co-signer, this loan appears on your credit report and could potentially limit your ability to secure other loans.
• There is the potential for strain on personal relationships if the borrower fails to meet their obligations. It can create conflict, particularly if the co-signer has to make payments to avoid damaging their own credit.

• When you start a job, your employer may offer a 401k as a benefit. This is a special account where you can contribute a portion of your salary, and sometimes your employer will match a percentage of what you contribute.
• The money you put into your 401k is taken out of your paycheck before taxes are taken out. This means that you won't pay taxes on that money right away, but you will have to pay taxes on it when you withdraw it in the future.
• Over time, the money you contribute can grow through investment earnings.
• You may be wondering, "When can I access the money in my 401k?"  The purpose of a 401k is to save for retirement, so you typically can't withdraw the money until you reach age 59 1/2 without paying penalties, but there are some exceptions.
• The earlier you start saving in a 401K, the more time your money has to grow. Big and small contributions do add up over time.
• Use a 401K as a way to save for your future so that you can enjoy a comfortable retirement.

• Begin by checking that your personal information, such as your name, address, and account number, are correct.
• Take note of the statement date range. It is necessary to keep track to ensure that all transactions within that period are accounted for.
• Examine the transaction section of your statement carefully. Start by checking deposits and credits to ensure they match your expected income and any interest earned. Then, focus on withdrawals and debits, making sure there are no unauthorized transactions or charges that you don't recognize.
• Pay attention to fees and service charges to make sure these have not changed, and they are reasonable.
• Look for any special messages, notifications, or alerts. These could include important updates or offers that may impact your financial decisions.
• Regularly reviewing your statement helps detect errors, unauthorized transactions, or potential fraud. If you identify any discrepancies, contact your financial institution immediately for further assistance.

• Start with your financial institution’s online banking or mobile app and look for a “budget” tool. Likely, this can automatically upload your transactions. Otherwise consider apps like Mint or YNAB (You Need a Budget) to track expenses, create budgets, and monitor investments.
• To help keep a record of day-to-day expenses it can be as simple as using a spreadsheet by categorizing expenses to help identify areas where you can cut back.
• Use retirement calculators to determine your long-term savings goals. Consider variables like age, income, and desired retirement lifestyle to determine how much to save each month.
• Debt repayment platforms help individuals strategize and accelerate the payoff process, ensuring progress is made towards becoming debt-free.

1. First, create a budget to determine your income and expenses. Prioritize payments and allocate as much as possible towards the loan with the highest interest rate.
2. Next, explore alternative borrowing options. Look for a personal loan with a lower interest rate to repay your payday loan. Reach out to local credit unions or non-profit organizations that provide small-dollar loans or financial assistance programs. Talk with the payday lender to possibly negotiate for a lower interest rate or an extended repayment period.
3. Also seek financial counseling or advice from reputable organizations, such as LSS Financial Counseling, a financial wellness partner of MMFCU. They can provide you with strategies to manage your debt and create a plan to rebuild your financial health.
4. Lastly, avoid taking out new payday loans to pay off existing ones. This will only perpetuate the cycle of debt.

• Look for zero-interest plans and watch out for plans that may charge interest and fees.
• You do not need a credit score to use these types of plans. That can be good for those with no or low credit scores. But be aware, these payments are not reported to the three credit bureaus, so you are not establishing a credit history for your future.
• They are becoming readily available at major retailers at check out which can be convenient. But this convenience can easily turn into overspending if not careful.
• Some plans have limited customer service options. So, if you have concerns or questions, it may be difficult to get resolution.

1. One significant factor is your credit score, which reflects your likelihood of paying back the loan on time and determines the interest rate you qualify for. A higher credit score usually means a lower interest rate, resulting in a lower monthly payment.
2. Another factor is the amount you are putting towards the car, or down payment. Paying more money right away reduces the loan amount, which in turn lowers your payment.
3. The length of the loan also influences how much you’re going to pay each month. Typically, the longer you spread out the loan the lower the payments, but you end up paying more in interest over time.
4. Finally, the car’s age and mileage can impact your monthly amount. Generally, newer cars with lower mileage come with lower interest rates and lower payments.

• Completing the Free Application for Federal Student Aid or FAFSA, determines eligibility for grants, work-study programs, and federal student loans. Submitting the FAFSA early increases your chances of receiving aid.
• There are changes and simplifications coming to the FAFSA form. This year the application will be available in December. The typical application period is from October to June, but watch school and state deadlines. Also, there is NO cost to submit the FAFSA form. Go directly to studentaid.gov to apply and learn more.
• Grants may be awarded based on financial need and typically do not require repayment.
• Working part-time or participating in work-study programs can provide additional income which helps cover expenses and provide valuable work experience.
• Explore scholarships offered by organizations, businesses, and colleges. Apply for as many scholarships as possible based on your achievements, skills, and background.

• Dates and Deadlines: Know the deadlines for open enrollment. This will ensure that you don't miss out on important opportunities to make changes or enroll in new benefits.
• Review the Benefit Options: Take the time to understand the all the benefits offered by your employer. Review each option carefully and consider your specific needs. Reach out to the benefits administrator for any questions.
• Evaluate Costs: Each benefit has a cost. Look at the premiums, deductibles, copays, and out-of-pocket maximums. Review what you spent over the last several years and any changes in the coming year. Compare each benefit against its cost to ensure you are getting the most out of your selections. You do not want to be paying for the highest tier plan if you do not need it.

1. Set a budget: Make a list of all the expenses you anticipate, such as gifts, holiday meals, and travel; then allocate a specific amount for each.
2. Make a list and prioritize: Create a list of the people you want to buy gifts for. Consider setting spending limits for family and friends to ensure fairness.
3. Start early and shop smart gives you time to compare prices, look for bargains, and take advantage of sales. You can even buy a few holiday meal groceries on each trip to the store to spread the cost over several weeks.
4. Avoid impulse buying, especially online. Leave the item in your cart for 2 days and determine if it still is something you want to purchase.
5. DIY gifts and experiences: Consider giving homemade gifts or experiences. A home-cooked dinner, a handcrafted item, or a personalized outing can be meaningful and cost-effective alternatives to store-bought gifts.

• Talk about responsible saving and spending when opening a saving and checking account with them.
• Explain the good and the bad of Credit Cards. The convenience of swiping for payment and ability to track spending. But be aware of annual fees, high interest rates, and other fees.
• Encourage them to build a saving habit early. Save 10% of all earnings to build a rainy day fund. This can become a life long habit.
• Talk about ways to build good credit - pay bills on time, keep credit balances low, and review credit reports once a year. Go to annualcreditreport.com and get a copy of your kids credit report yearly. This assures no one has opened credit lines with their social security number that you are not aware of.

1. Buying Too Much House. Just because you got approved for a large mortgage doesn’t mean you need to use it all.
2. Not Investing for your retirement. High-yield savings accounts can’t match the returns of the market over time. If you can put a little bit into investments on a regular basis, it has the potential for higher returns, helps beat inflation, and allows for long-term wealth growth.
3. Paying for Things You Don’t Use. Go through subscriptions and cut the ones you don’t need or rarely use. Those little fees add up over time.
4. Not Tracking Your Money. If you don’t track your spending and savings, you may be paying for items you never bought, or miss opportunities to set aside more to savings.
5. Not Checking Your Credit Report. You can check your credit report each year for free. Check for errors on your report and fix them. Go to annualcreditreport.com to get started.

1. Does the organization align with your values and/or passions?
2. Look for organizations that have a direct impact on your community and efficiently utilize their resources. Websites such as guidestar.org, charitynavigator.org or the IRS can help you research organizations before you donate or volunteer.
3. As a family discuss and research charitable organizations. Then volunteer together which could become a traditional during the holidays and beyond.
4. Consider purchasing gifts that give back.
5. Now through Christmas Eve, drop your spare change into the Salvation Army Red kettle.

• Social media shopping scams are taking advantage of the convenience and popularity of online shopping during the holidays. Be wary of deals that seem too good to be true. Always verify the legitimacy of the seller and read reviews before making a purchase.
• Charity scams prey on people's generosity. Phony charities may seek donations through phone calls, emails, or even in person. Before donating, research the organization and verify its tax-exempt status.
• Vacation rental scams target those planning a winter getaway. Deceptive listings may promise luxurious accommodations at unbelievably low prices. Consider using reputable booking platforms with insurance options.
• Shipping email and text scams increase with the large amounts of online purchasing during the holiday season. Never click on the links, go to the shipping website directly and enter the tracking code provided with your purchase.

1. Do you or a family member need to see a doctor? Try to get an appointment or a telehealth visit before year end.
2. Stock up on any prescriptions you need at the pharmacy.
3. Are new eyeglasses in your future? Order a new pair or even sunglasses. Also, stock up on contact lens or supplies.
4. There are many over the counter medications you can stock up on such as pain relievers, cough medicine and more.
5. Hearing Aids, first-aid kits and stop smoking aids such as gum and patches, can also be purchased.
6. If you’re a new nursing mom, you can save money on pumps, pads and storage bottles. Along with women’s healthcare products.
7. Confirm that your daycare provider has kept current with their billing.

1. Take an indirect approach. Mention an article, something on TV, or what you personally are doing for yourself. Then ask your loved ones’ perspective. Some questions you may ask are:
   1. How do they feel about the finances, housework or driving?
   2. Do they ever feel uncomfortable or unsafe?
   3. Do you ever feel like you might like to have a little bit of help?
2. Research some options in advance so you can present choices to your parents. If they don’t have long-term care insurance, for example, can they sell investments or tap their home equity to pay for a nursing home stay. If bills aren’t being paid, you can offer to set up autopayments.

• A great place to start is to establish both an installment loan and revolving line of credit.
• An installment loan is a small loan that helps demonstrate that you can make your payments on time. You can get a loan like this by using money you have saved as collateral or look for a credit builder loan that doesn’t tie up your savings.
• A revolving line of credit is a credit card. Start with a low amount, say $500, and only charge $100 worth of expenses each month. Then, pay it off right away.

• Have utilities and other consistent bills set for auto pay from your checking or through bill pay.
• If you have past employer 401(k) accounts, look into rolling them over into one account so all information is in one location.
• Set up a budget for 2024 and make a plan to track it monthly. You can use money management tools to track spending and saving in one spot. Start with your financial institution’s online banking or mobile app and look for a “budget” tool. Likely, this can automatically upload your transactions.

• First, list all your debts from highest to lowest interest rate.
• While making minimum payments on all debts, allocate any extra funds towards the debt with the highest interest rate.
• Once that debt is paid off, move on to the one with the next highest rate.

• With this approach, create a list of debts from smallest to largest balance.
• While making minimum payments on all debts, direct any additional funds towards the smallest debt.
• Once that debt is paid off, roll the payment amount into the next smallest debt.

• It's essential to step back and assess the situation objectively before making any financial commitment.
• Pause and talk over your decision or situation with someone you trust.

• Every time we spend money on something, it is essential to consider the potential benefits or returns we might miss out on by spending our money in a certain way.
• As an example: Consider going out to dinner, compared to putting $75 into your savings account for new tires.

• Ignoring our financial situation or neglecting to track spending can lead to financial troubles.
• Taking the time to budget, track expenses, and regularly review our financial situation can help us stay on top of our money and make informed financial choices.

KASASA CASH BACK CHECKING

KASASA SAVER®

EARNING YOUR REWARDS IS EASY!

• The origins of a check or the destination of your large cash withdrawal.
• Craigslist or Facebook Marketplace transactions can be subject to more questions.

• Payday Loans are short-term, high cost and are typically due by your next payday. The have hefty fees, averaging from $15 to $30 per every $100 you borrow.
• Title Loans like payday loans, are meant to be paid back within 15 to 30 days. They use 25% to 50% of the value of your vehicle in exchange for the title as collateral. If you fall behind on a title loan, you run the risk of having your car repossessed.
• Loans Against Your Retirement Plan allow employees to borrow funds from their account under hardship provisions. These may charge less interest, but over the life of this loan, will ultimately reduce your retirement savings because you are paying yourself back not adding to savings.

• Blood Drive- September 11: Register with the Red Cross.
• Driver Improvement Program (55+) Courses: September 5 from 8:30am-12:30pm or 1-5pm. Register by calling 1-888-234-1294 or online at mnsafetycenter.org/

• You set-up alerts on your debit card, credit card, or accounts for things like balance or purchase amounts. Setting up alerts for the things that are out of the ordinary for how you manage your money can catch fraud, fast! Need help setting up alerts? Give us a call or go online.
• We think a debit or credit card purchase doesn't seem quite right and we want to verify if you are making the purchase being attempted.
• There is important account related information you should know, like if a payment is late or you were approved for a loan.
• You have an upcoming appointment at an MMFCU office.

• Online Banking and Mobile App lets you manage your accounts from anywhere including transferring money between savings, checking and loan accounts at other financial institutions.
• Your MMFCU debit and credit cards can be a part of your digital wallet on your phone.
• ATM access to your money at no charge is available at nearly 30,000 locations across the country through the CO-OP Network. This is more than banks!
• Mobile payment services like Venmo and PayPal may have no fees or reduced fees, if they are tied to an MMFCU account.
• Checks can be deposited from anywhere using Remote Deposit through MMFCU's mobile banking app on your phone. Here is a "how to" video.
• You can visit more than 5,700 credit unions across the country for in-person transactions and services through our Shared Branch Network.

Here are just a few common questions we get:

• Get pre-approved by submitting a loan application, so you know your budget.
• Start shopping.
• Check values with Kelley Blue Book, Edmunds, True Car or J.D. Power.
• Know the vehicle history using Carfax to see if an auto was in an accident.

• Find out from the seller if there is a loan on the vehicle. If there is, then a lienholder is listed on the title. So, you will want to request a payoff statement to make sure that the loan for the vehicle gets paid off and a lien release is sent to you as the buyer.
• Confirm the seller has a Title or Bill of Sale. Not sure? Check out what vehicles are titled or not here.
• Paying for your purchase. We recommend a cashier’s check made out to the seller. These are guaranteed funds and trackable. Other options include a personal check which is trackable, sellers can call MMFCU during regular business hours (218) 829-0371 to verify the funds. Sellers may ask for cash, but keep in mind it isn’t able to be tracked past the point of you handing the money over.

• Transfer the title or registration, listing the lienholder if you took out a loan for the purchase.
• Insurance to protect your investment. If you want to compare costs, call The Insurance Office at (218) 828-1118. They can provide a free, no-obligation quote.

Bob Gerads President/CEO

• Application or Origination fee: Covers administrative work required to process your home loan application and price of borrowing money.
• Appraisal: Covers the professional appraiser fee which provides your lender with an estimate of the home’s true value.
• Closing or escrow fee: The cost of the title company, escrow company or attorney assisting in the closing.
• Escrow account: It can include a deposit covering first two months of property taxes and home insurance payments.
• Private Mortgage Insurance or PMI: This is an additional cost of borrowing money, typically required for borrowers who make a down payment of less than 20%.
• Prepaid interest: This is the prepayment of interest that will accrue from the day of closing until the date of the first mortgage payment.
• Title fees: This covers the cost of a title search by a title company to look for possible legal claims on your property.

• A covers hospital stays.
• B covers medical care like a routine doctor visit.
• D covers prescription drug costs.
• Medicare Advantage combines all of these into one plan. While this may offer convenience, you are limited to certain doctors. With original Medicare, you are not limited to specific doctors. Take that into consideration as you look at your Medicare options.

Scams to watch out for:

1. Fake product sales- Be suspicious of emails, texts or social media posts that offer “DEEP” discounts compared to reputable retailers. Do not click on suspicious links. Go directly to the retailors website to review offers and determine if you want to make a purchase before entering your card information.
2. Shipping scams- be very careful of emails and text about tracking packages. It is better to go directly to the carrier’s website and track from there.

To protect yourself from scams, here are some good tips:

1. Be suspicious of high-pressure, threatening or time sensitive phone calls, emails or text.
2. Be hesitant if you receive notifications about “problems” with your accounts, purchases, credit cards, or package deliveries.
3. Never give out personal information to companies or agencies that you did not first call.
4. Monitor accounts and credit cards carefully. Set up account and card alerts. Go online and check your transactions for accuracy of charges throughout the holidays, not only at month end. If you find suspicious transactions, contact your financial institution or credit card company immediately.

DIFFERENT PARTS OF MEDICARE

GUIDANCE YOU CAN TRUST

1. Create or Refine a Budget: Developing a clear understanding of your monthly income and expenses is essential for gaining control of your finances. This process doesn't need to be complex - simply jotting down what's coming in and what's going out can provide valuable insights. Identifying areas where you can trim spending will enable you to redirect those funds toward your financial goals.
2. Establish an Emergency Fund: Once you've reviewed your budget, you may uncover opportunities to reduce unnecessary expenditures and direct those savings toward an emergency fund. Aim to build up enough to cover at least six months' worth of fixed expenses - this will provide a crucial safety net and peace of mind.

3. Pay Down Debts: High-interest debts can be an obstacle to achieving your financial objectives. Develop a strategy to systematically pay these down, whether that's tackling the smallest balances first or prioritizing the highest interest rates. Whichever approach you choose, the key is to remain disciplined and make consistent progress.

1. Be suspicious of unsolicited calls, emails, or texts claiming to be from the IRS. The IRS will never contact you in this manner to demand immediate payment, so it's important to verify the legitimacy of any communication before providing any personal information. These text or emails may may contain malware to steal information from your device, disable it, or hijack your device.
2. Watch for fake tax prep services. These may charge high fees and file incorrect returns to get larger refunds. To avoid this, only use reputable tax preparers and be suspicious of anyone promising unusually large refunds or trying to charge high upfront fees. Legitimate tax preparers won't ask you to sign blank returns.
3. Be vigilant about protecting your Social Security number and other private information. Identity thieves use stolen personal data to file fraudulent returns and claim refunds. It's important to monitor your financial accounts and credit reports closely, looking at any unfamiliar charges or suspicious activity and reporting it immediately to your financial institution. Review your tax return carefully before filing to ensure all the information is accurate. If getting a refund that is deposited into your bank account, double check that the routing and account information is accurate.

• Slow down and evaluate the situation. Scammers rely on you being caught off guard.
• Independently verify the information by using a trusted number or website.
• Report the incident to appropriate authorities.
• Legitimate organizations will not demand immediate action.

1. Monitor your credit report and more
2. Dispute charges directly in Online Banking
3. Set up notification alerts and controls for transactions with in your accounts

Nearly 1,000 students from credit unions throughout the state applied for scholarships. Applicants were selected based on their essays submitted to the FSC. This year’s essay question was: “What is the greatest gift you have ever received (object or life experience)? How did it impact you when you received it, and does it still hold meaning now? Would life be different if the "gift" was never received?”

Borash wrote, “As the child of farming parents, I can attest that growing up on a dairy farm has been the greatest experience I have ever received. Although it may not have always seemed like an ideal lifestyle through the eyes of my younger self, the barbed-wire boundaries of the farm have shaped me into the woman I am today.”

Nicole Pfeffer, Community Outreach Manager at MMFCU said, “Our Mission is to improve financial well-being. We do that through financial education in our schools, providing scholarships in each community we serve and partnering at the state-level to offer additional scholarship opportunities to our members. When our communities and the people in them thrive, we all thrive.”

Last year Mid Minnesota members with rewards checking accounts received more than $1.5 million dollars in rewards. This included $224,784 in waived ATM fees, $911,745 in interest paid, and $447,764 in cash back on debit card purchases.

If you missed out, we want to reward all member owners for using MMFCU's debit card, access your statements electronically to save on printing and postage, and making our Reward Checking your primary account for managing money.

This is money that could be deposited into your account each month. Stop by local MMFCU Office, call us at (218) 829-0371 or open an account today!

Throughout 2025 Credit Unions across Minnesota are celebrating a century of member service! The milestone recognizes Minnesota's first state-chartered Credit Union (Minneapolis Postal, what is today Trustone Credit Union) back in 1925.

Mid Minnesota Federal Credit Union came along a few decades later in 1956 thanks to seven employees of the Northwest Paper Company. In a couple of months MMFCU will hold our 69th annual membership meeting. I joked last week, that 100 years isn't as long as it used to be as I've personally been working for Credit Unions a quarter of that time!

Regardless of what year they began, the roots of credit unions come from a place of hope - in doing better together. For MMFCU,  nearly seven decades of cooperation. Today MMFCU stands as a testament to all we've accomplished together. As we work forward, we continue enhancing member products and services. In 2025 we've improved Credit Score monitoring for all members for security and increased financial well-being, streamlined the mortgage application process, and improved debit and credit card experience with contactless cards and enhanced transaction alerts. We've also launched member value services like Medicare and Estate Planning. We continue our commitment to providing competitive rates for loans and deposit products. I am excited and committed to the continuation of doing better together for the next 100 years.

Read Spring 2025 InTouch

Alexandria/Fergus Falls: Welcome Peyton Johnson, Business Service Loan Officer.

Brainerd: Driver Improvement Program (55+) Course - June 2.

Crosby: Retirement Celebration Lydia Mason.

Little Falls: Minnesota Credit Union Foundation Scholarship Recipient- Abby Borash. Welcome Lexi Patynski, Mortgage Loan Officer

Read Spring 2025 InTouch

1. Understanding credit and credit score. Payment history, credit usage, age of the credit, type of loan mix (secured and unsecured loans), and number of inquiries make up how your credit score is determined.
2. Check your credit report from Transunion within the tool and start the dispute process should you find errors. It is also suggested you review your credit report from all three credit bureaus (Equifax, Experian, Transunion) on an annual basis. You can do this by going to annualcreditreport.com and requesting them, this is a FREE service.
3. Monitor your credit score. Your credit score is a key factor in determining your ability to qualify for loans, other financial products, or renting an apartment. Learn how to track and improve your credit score with the Credit Score Action Plan.
4. Credit Monitoring and Identity Theft Alerts. You will be emailed when a new loan account is opened under your social security number. Also, when there is a change in your personal information, such as new address reported, new employer added and many others. The emails you receive are notifications to review your credit report and address any suspicious activity.
5. Financial Checkup. This assessment is a series of questions where you can enter your financial goals for Savings and Planning, Financial Security, and Monthly Budget to get an overall financial wellness score. It takes about 5 minutes of your time.
6. Credit Score Simulation. Have you wondered how your credit score would change if you paid off a loan, if you opened another credit card or missed a loan payment? This tool helps you understand the financial impact of your choices and assists you to plan and budget your finances more effectively.

Think of it this way: a forest fire often starts with something avoidable—a forgotten campfire, a careless spark. Similarly, many fraud attempts rely on catching us off guard, exploiting a moment of distraction or urgency. But just as we learn to properly extinguish a fire and be mindful of dry conditions, we can adopt habits that make us incredibly resilient to financial scams.
At MMFCU, we’re dedicated to protecting your hard-earned money. However, the first and most effective line of defense starts with you. Here are three simple, yet powerful, actions you can take to help prevent fraud:

1. STOP AND PAUSE. If you get a phone call, email, text, or mail that requests immediate action or sounds too good to be
true, hit the brakes. Find a way you trust to contact that organization or person to get more information. Don’t use the contact information provided in the notice. It could be from the bad guys.
2. NEVER PROVIDE PERSONAL INFORMATION. Do not share sensitive details like your Social Security number, usernames, passwords, or account numbers in response to unsolicited requests. Legitimate organizations, especially your credit union, won’t ask for this in an unsecure way.
3. SET UP ACCOUNT ALERTS. We offer robust alert features for a reason! Take a few minutes to set up notifications on your
accounts. You’ll be instantly notified about transactions or other activities, like new logins or attempts to open new accounts in your name. This early warning system can help you detect and stop suspicious activity quickly.

By taking these simple, thoughtful steps, you become an integral part of preventing fraud. It’s about being prepared, being mindful, and taking that personal responsibility to safeguard what’s yours. Together, we can keep our financial futures secure and strong.

Read Summer 2025 InTouch 

We had a very strong year. We were thrilled to report that members with our rewards checking accounts collectively earned over $1.5 million in rewards last year. That’s more money back in your pocket, less spent on ATM fees, and good interest earnings. We also helped many of you finance that new boat, a more reliable vehicle, or expand your small business. It’s all about keeping those dollars circulating right here in our communities.

We also introduced new ways to make your financial life smoother. Have you considered Wills & Trusts estate planning? We’ve made it more accessible and less intimidating. And if Medicare questions have you perplexed, our new expert, Tom Kuppich, is here to help; he’s already saved individuals a significant amount.

Our team, all 182 of them, are dedicated to working hard every day to look after your money and well-being. Our volunteer Board of Directors are genuinely committed individuals who put in the hours to guide this credit union. As we look ahead to our 70th anniversary next year, we remain focused on our core mission: “improving financial well-being.” Thank you for being a valued part of Mid Minnesota Federal Credit Union. We truly appreciate your continued trust.

Read Summer 2025 InTouch

Aitkin: Driver Improvement (55+) Courses- September 4, Blood Drive- October 8. New Branch Manager Michelle Dodd.

Little Falls: Staff volunteered alongside high school students for the 14th Annual Day of Caring. 

Staples: $1,500 grant donation for an outdoor basketball court. 

Read Summer 2025 InTouch

What is an HSA?

An HSA is a personal savings account linked to a high-deductible health plan (HDHP). It allows you to save money specifically for healthcare costs with incredible tax benefits.

Key Benefits of an HSA:

Triple Tax Advantage:

• Contributions are tax-deductible (or pre-tax): Money you put into an HSA lowers your taxable income. If your employer offers payroll deductions, those funds are often taken out pre-tax, saving you on income and payroll taxes.
• Tax-free growth: Any interest or investment earnings within your HSA grow tax-free.
• Tax-free withdrawals: When used for qualified medical expenses, withdrawals are completely tax-free – forever!

Savings for Now and Retirement:

• Immediate Medical Expenses: Use your HSA to pay for eligible medical, dental, and vision expenses, including deductibles, co-pays, prescriptions, and even over-the-counter medications. This can save you around 25% on these costs due to the tax advantages.
• Long-Term Healthcare Costs: Healthcare is a major expense in retirement. Your HSA can act as a dedicated fund to cover these costs, protecting your other retirement savings like IRAs or 401(k)s.
• Retirement Income: After age 65, you can withdraw HSA funds for any purpose without penalty. While non-medical withdrawals will be taxed at your ordinary income rate (similar to a 401(k)), the 20% penalty is waived. This makes your HSA a flexible supplemental retirement account.
• "Use It or Lose It" Doesn't Apply: Unlike some other health savings plans, your HSA funds roll over year to year. What you don't spend in one year remains in your account, continuing to grow.
• Investment Potential: Many HSAs allow you to invest your funds in options like mutual funds, CDs, bonds, or stocks once you reach a certain balance. These investments grow tax-free.
• Portability: Your HSA is yours, regardless of job changes or retirement.
• Covering Family: You can use your HSA to pay for qualified medical expenses for yourself, your spouse, and any dependents, even if they aren't on your specific health plan.
• Reimbursement Flexibility: You can pay for medical expenses out-of-pocket and save your receipts. Later, you can reimburse yourself from your HSA, allowing your funds to grow invested in the interim.

Contribution Limits:

The IRS sets annual maximum contribution limits for HSAs. For 2025, these limits are:

• Self-Only Coverage: $4,300
• Family Coverage: $8,550
• Catch-Up Contribution: If you're 55 or older, you can contribute an additional $1,000 annually.

(Note: These limits include contributions from both you and your employer.)

Bottom-line, an HSA offers a unique combination of tax benefits, savings for current and future medical needs, and long-term investment potential, making it a powerful tool for financial and health planning. Talk with your employer or financial advisor for additional information. 

Open a Health Savings Account - What is a Health Savings Account?Open a Health Savings AccountOpen a Health Savings Account today or stop by your local MMFCU office to learn more. 

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Mid Minnesota Federal Credit Union is federally insured by the NCUA and we are an equal housing lender.

The truth is, two out of three people do not have an estate plan, but having one is a powerful way to protect your assets and provide peace of mind for your loved ones.

What is an Estate Plan?
Think of your estate plan as a set of instructions for your financial future. A collection of legal documents that outlines how your assets should be managed and distributed if you are ever unable to handle them yourself or after your death.
A solid plan typically includes:

• A Will to ensure your assets are distributed as you wish and to name a guardian for any minor children.
• Financial Power of Attorney to appoint someone to handle your finances if you are incapacitated.
•  A Medical Directive to communicate your healthcare wishes.
• A Trust, which is a legal arrangement that can help manage and distribute your assets to your beneficiaries.

An estate plan will significantly help your loved ones know and follow though on your wishes. 

Start with a Beneficiary
A beneficiary is a person or entity who is designated to inherit the assets upon the death of an account or property holder.
Beneficiary designations on your accounts are also a simple, free, and effective way to bypass the lengthy and costly probate process. Without a beneficiary, your funds can get tied up for months or even years, delaying access for your family during a challenging time.

Why You Can't Afford to Wait
Many people put off estate planning because it seems too complicated or they believe they do not have enough assets. In reality, it’s a crucial step for everyone, regardless of their net worth. Without a plan, you leave important decisions to the courts, which can lead to conflict and unnecessary expenses for your family.

Mid Minnesota Federal Credit Union is stepping up to help you take control of your financial legacy. Through our partnership with Legal Karma, we now offer our members access to easy-to-use, comprehensive estate planning tools. You can create a will, healthcare directive, power of attorney, and more, all with trusted guidance. Find more information on our Mobile App or Online Banking under Financial Tools – Estate Planning.  You can also visit our Wills and Trusts webpage. 

Do not wait until it’s too late. Protect your legacy and your loved ones' future. Contact us today to learn how MMFCU and Legal Karma can help you get started on your estate plan. Call or text (218) 829-0371 or visit your local branch. 

Want to know more about estate planning or have a weekly financial wellness tip sent to you? Sign up below or, contact your local Mid Minnesota Federal Credit Union Office.

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Mid Minnesota Federal Credit Union is federally insured by the NCUA, and we are an equal housing lender.
 

Aitkin: Sponsored the Riverboat Days & the Medallion Hunt, Congratulations Holly! 

Brainerd: Fraud Fighters collaboration with 4 other area credit unions hosted education events.

Crosby: Served up free lunches in partnership with C-I Community Education for kids in need.

Detroit Lakes: Wins Best Credit Union in the Best of the Best Contest for the eighth year in a row! 

Fergus Falls: Co-hosted the Chamber's morning Cafe event with Habitat for Humanity. 

Pequot Lakes: Sponsored the Stars and Stripes celebration including President/CEO Bob Gerads performing.

Staples: New Office to be built along highway 210. Opening Fall of 2026.

Read Fall 2025 InTouch

1. Quick,
2. Clear, and
3. Kind.

I appreciated his point that “uncertainty creates anxiety.” That simple phrase describes the challenge that MMFCU works hard to conquer. Given the marketplace, the world of finance and immense change across the industry, we’ve got our work cut out for us. We continue to refine and invest in solutions that hit the mark.

In that regard, we recently upgraded our account opening, and consumer loan application process. The improved experience provides a streamlined process for you and protection against fraud for your credit union. That allows us to provide you approvals more quickly. It helps us to communicate product and service options more clearly, and lastly, we can, kindly, offer you additional time and money saving options from MMFCU.

I encourage you to check out the application process for any deposit, or loan needs you may have on our website mmfcu.org. You can apply anytime, anywhere with just your cell phone number and last four digits of your social security number. If you know of a friend or family member that you think we might be able to help, please point them in our direction too.

Read the Fall 2025 InTouch

Life is full of surprises—and not all of them are pleasant. According to a recent report, 56 percent of American adults have dealt with a “surprise expense” in the last year, with an average cost of a whopping $5,500. These financial curveballs can bust a budget and create immense stress. The good news is that with the right planning, you can be prepared for anything.

So, what exactly are these unexpected expenses, and how can you budget for them?

Common Surprise Expenses & How to Prepare

Unexpected expenses can be anything from a broken-down appliance to a family emergency. Here are a few of the most common ones and a look at what you can do to be ready.

• Home Repairs: A sudden home repair can cost thousands. While a major foundation issue can run about $5,000, a new roof can set you back anywhere from $15,000 to $27,000.
  • Your Plan: A good rule of thumb for housing repairs is to try and save between two and four percent of your home’s value each year. Setting aside a small amount each month can prevent a major repair from derailing your finances.
• Vet Visits: Our furry friends are family, but they can also be expensive. While a routine vet visit costs between $40 and $200, a surprise dental issue could run you anywhere from $300 to $2,000.
  • Your Plan: Look into pet insurance to manage these costs. Another option is to create a separate savings account for your pet’s needs, so you’re ready for both routine and unexpected care.

Options for Saving for All Scenarios

The best way to prepare for unexpected expenses is to start saving money before you need it. This can feel daunting, but it’s easier than you think. You don’t need a massive amount to start; you just need to start.

The key is to create a dedicated “Rainy Day Fund.” Even if money is tight, setting aside just $10 a week can help you save $520 in 12 months.

At Mid Minnesota Federal Credit Union, our savings goals feature can help you plan now to avoid debt later. MMFCU can help you make your savings automatic and meaningful. You can create specific, tangible goals for each of the scenarios above—a “Home Improvement,” a “Medical Savings” account, or a “Pet Emergency” fund—and automate transfers directly into those accounts every time you get paid. This simple step helps you stash cash without having to think about it every month.

Need a Little Breathing Room? MMFCU’s Skip-A-Payment Program

We understand that even with the best planning, life can still throw unexpected curveballs. If you find yourself in a financial hardship due to an unforeseen circumstance, MMFCU is here to help.

Our Skip-A-Pay program is designed to provide you with financial flexibility when you need it most. This program allows eligible members to defer up to two monthly loan payments on qualified loans within a 12-month period. This temporary pause can free up funds to cover an emergency expense, giving you the breathing room you need to get back on track.

Whether you’re just starting to save or need a little help in a tough spot, your Mid Minnesota Federal Credit Union team is here to support your financial wellness journey. Call or text us at (218) 829-0371 or stop by your local office to learn more about our savings goals feature and the Skip-A-Payment program.

Want to get more financial wellness tips? Sign up for Financial Wellness Tips.

Mid Minnesota Federal Credit Union is federally insured by the NCUA and we are an equal housing lender.

*To qualify for Skip-A-Payment program, your Mid Minnesota Federal Credit Union loan account(s) must be good standing (loans must be current and have no more than two late fees in the last six months). There is a maximum of two skipped payments within a rolling twelve-month period, and six within the term of the loan only. Paper application requests must be received at least 10 days prior to payment due date. Interest will continue to accrue and may exceed payment. New loans that have not had at least six payments are not eligible. Skip- A-Payment application is pending approved credit; other restrictions may apply. Loans NOT available for skip payments are loans with 180+ monthly terms, first mortgage, modified loans, home equity loans, student loans, commercial loans, lines of credit, HELOC’s and VISA cards. Skipped payment will affect GAP claim amount on qualified loans. To view full disclosures, go to mmfcu.org/borrowing/skip-a-payment.

For many of us, this is the one email we’re tempted to ignore. As one financial planner put it, “Most people treat open enrollment like jury duty – something to get through as quickly as possible.”

But this year, just "clicking through" or letting your old benefits roll over could be a costly mistake. Here’s what you need to know.

Why This Year Is Different

Healthcare is getting more expensive. A new study from global HR consulting firm Mercer, found that over half of companies are "likely or very likely" to shift more healthcare costs to their employees in 2026.

How? By "bumping up deductibles or other out-of-pocket expenses."

This means the plan you had last year might not be the best deal for you next year. That's why it’s more important than ever to be strategic. Taking an hour to review your options can, as one expert said, "add tens of thousands of dollars to your bottom line over time.”

Your Open Enrollment Action Plan

Don't wait until the last minute. Set aside an hour and focus on these key areas.

1. Re-Evaluate Your Health Insurance

Your health plan isn't a "set it and forget it" choice. Ask yourself: Is anything big changing in my life next year?

• Are you planning to have a child?
• Do you have a major surgery scheduled (like a knee or hip replacement)?
• Will you need extensive rehab?

If the answer is yes, you'll want to look closely at your plan's details.

Pay attention to the trade-off: A plan with a lower monthly premium (your bill) usually has a higher deductible (what you pay before insurance kicks in). This is great if you're healthy. But if you know you'll have big medical bills, choosing a plan with a higher premium and lower deductible could save you thousands.

2. Maximize Your Retirement

When it comes to your 401(k) or workplace retirement plan, two things matter most:

• Get the Match: At a bare minimum, contribute enough to get your full employer match. This is 100% free money. If you don't take it, you're leaving part of your salary on the table. Check with HR if you're not sure how much your match is.
• Contribute More (If You Can): The more you save now, the better you'll be. As the year ends, check your pay stubs to see how much you've saved. If you can afford to, consider increasing your contribution—even by 1%.

3. Don't Overlook this “Secret Weapon:

Your benefits are more than just health and retirement. Look at this powerful add-on:

• Health Savings Account (HSA): This is one of the best financial tools available. If you choose a high-deductible health plan, you can get an HSA. It offers a triple tax benefit:
  1. Your contributions are tax-deductible.
  2. Your money grows tax-free.
  3. You can pull money out tax-free for qualified medical expenses. (Just make sure you have enough cash flow to cover the high deductible.)

Learn more about HSAs at Mid Minnesota Federal Credit Union.  Visit your local branch or find out more here.

Your employee benefits are a huge part of your total compensation. Don't treat them like an afterthought. Open Enrollment is your one chance all year to make changes that can protect your health and build your wealth. Take an hour this week, review your options, and make sure your benefits are working for you.

Want to learn more or have a financial wellness tip sent to you? Sign up below or contact your local Mid Minnesota Federal Credit Union Office.

Sign Up for a Weekly Financial Wellness Tip

Mid Minnesota Federal Credit Union is federally insured by the NCUA, and we are an equal housing lender.

Source: How to Leverage Employer Benefits for Financial Wellness by Jean Chatzky (with reporting by Casandra Andrews), SavvyMoney, Sep. 22, 2025.

1. Pretends to Be Someone You Trust: They'll impersonate your bank (MMFCU), a government agency (like the IRS), or a company you use (like Amazon).
2. Creates a Problem or a Prize: They'll create a sense of urgency, claiming you're in trouble, a family member needs help, or you've won a prize.
3. Pressures You to Act IMMEDIATELY: They demand you act now and often tell you not to talk to anyone else. This is a tactic to stop you from thinking.
4. Tells You to Pay in an Unusual Way: No legitimate organization will ever demand payment with gift cards, cryptocurrency, wire transfers, or peer to peer payment apps.

 Watch Out for These Holiday & Cyber Monday Scams

• "Too Good to Be True" Deals (Cyber Monday): Scammers create fake websites and ads to steal your card info. If a deal seems unbelievable, it is. Stick to reputable retailers you know and trust.
• "Package Delivery" Phishing: You get a text or email about a "delivery problem" with a link. Do not click it. That link is designed to steal your information. Always track packages by going directly to the official carrier's website.
• "Check Washing" & Fake Check Scams: You receive an unexpected check (for a "secret shopper" gig or "promotion") and are told to deposit it and send some of the money back. The check will bounce, and you'll be responsible for the full amount. Never deposit a check and send money back to someone you don't know.
• "Family in Crisis" Scams: You get a panicked call from a "loved one" (or even an AI-faked voice) needing money immediately.
  •  Your Best Defense: Create a "family safe word" right now. If a caller claims to be a family member in a crisis, ask for the safe word. If they don't know it, it's a scam. Hang up and call your family member directly.

Your Proactive Defense Toolkit

• STOP AND PAUSE: If a call, text, or email feels urgent or emotional, just stop.
• NEVER PROVIDE PERSONAL INFORMATION: MMFCU will never call, text, or email you asking for your Social Security number, username, password, or PIN.
• HANG UP & VERIFY: If you're unsure, hang up. Call the organization back using a phone number you know is legitimate (from the back of your card or their official website), not the number from the caller ID or email.

Use Your Digital Tools

• Monitor Your Accounts: Check your transactions regularly (even daily) using the mobile app or online banking. Report any charge you don't recognize.
• Set Up Alerts & Controls: This is your personal early-warning system. Log in to your MMFCU account to set up alerts for transactions, logins, and card activity.
• Use Strong Passwords & Multifactor Authentication (MFA): Use a different, complex password for every site and always enable MFA (the extra security code) when it's offered.

Secure Your Physical Information

• Pay Safely: Use "tap-to-pay" or a digital wallet (like Apple Pay or Google Pay) whenever possible. They are more secure than swiping.
• Use an RFID-Blocking Wallet: These sleeves protect your card information from being wirelessly scanned in public.
• Shred Your Documents: Shred any mail with personal or financial information before throwing it away.
• Monitor Your Credit: Use SavvyMoney (free within MMFCU's online banking) to monitor your score and pull your free full report annually from AnnualCreditReport.com.

If you suspect fraud on your MMFCU account, contact us immediately by call or text at (218) 829-0371, in person at any local office, or via chat on our website.

Other Key Resources:

• Report Fraud: Federal Trade Commission (FTC) at Consumer.FTC.gov.
• Place a Fraud Alert or Credit Freeze: Contact the four main credit bureaus (Equifax, Experian, TransUnion, Innovis).

Don't let scammers spoil your holiday. By staying alert and using these tools, you are building a strong defense against fraud. Remember the three most important steps: Stop and Pause. Verify. And Report. Together, we can keep your finances safe and secure.

Want learn more about ways to protect yourself or have financial wellness tip sent to you? Sign up below or, contact your local Mid Minnesota Federal Credit Union Office.

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Mid Minnesota Federal Credit Union is federally insured by the NCUA, and we are an equal housing lender.

This year, 2026, marks 70 years in business for Mid Minnesota Federal Credit Union. Seventy years since the small group of papermill employees took action on a shared vision of a new type of financial institution. The changes and growth that we’ve experienced over the decades would certainly make those individuals proud.

In fact, all of you, our member owners, can share in that same pride as the success of the credit union is ours to share. The team here at MMFCU is working to deliver a couple of “gifts” to you.

First, plans are well under way for the construction of a new office to serve the community of Staples. The new office will be located along Highway 10, it will provide more convenient access to citizens of that community as well as many other MMFCU members that travel the Highway 10 corridor. The progress on the building should be easy to monitor as you pass us by!

Another exciting project already underway is the development of an online investment portal. This means you can keep more of your savings and investments right here with MMFCU while still accessing options like stocks, funds (ETFs), crypto, automated investing (robo-advising), and even buying small pieces of stock (fractional shares). It’s all easy and will be built right into the Online Banking and Mobile App you already use!

These are just a couple of the items planned for 2026. Keep your eyes open for the details in the months ahead. Congratulations on 70 years! 

Read the Winter 2026 InTouch

Aitkin: Blood Drive March 12. Register at redcrossblood.org. 

Alexandria: Winner of MMFCU's Traveling Trophy for Best Costume 2025.

Pequot Lakes: Congratulations to Katie DeBell promoted to Branch Manager.

Staples & Wadena: Welcome Mortgage Loan Officer Lexi Patynski.

Read the Winter 2026 InTouch

Make this year the year you take charge of your financial future

On average 2 out of 3 members don’t have estate planning documents, like a will or trust, in place. If this is you, we are here to assist in preparing you for the largest financial transaction of life. Protecting your family’s assets is a part of our Mission to improve members’ financial well-being. Mid Minnesota is proud to provide our members with easy, affordable and secure legal estate planning documents powered by Legal Karma.

At Mid Minnesota Federal Credit Union, we believe financial wellness means more than managing money. It’s about protecting your family and your legacy. That’s why we’ve partnered with Legal Karma, a trusted provider of affordable estate planning services.

What is an Estate Plan?

An estate plan is a reliable set of legal documents that allows you to give trusted loved ones control over your assets if for any reason you are unable to manage them.

These documents provide a way to express your wishes for how (and to whom) your assets are distributed. Documents that can be created through Mid Minnesota’s estate planning services powered by Legal Karma include:

• Last Will and Testament
• Revocable Living Trust
• Financial Powers Of Attorney
• Advanced Health Care Directives
• HIPAA Authorization

Who Should Have an Estate Plan?

Whether you’re starting a family, preparing for retirement, or organizing finances for tax season and estate plan is for you. Legal Karma makes it simple to create a plan that fits your life. You can easily:

• Create a Will or Trust online quickly and securely
• Name guardians for your children or pets
• Protect your home, savings, and other assets
• Avoid probate and simplify the process for loved ones

Peace of mind starts here. Estate planning ensures your wishes are honored and your loved ones are supported.

Get started today and take control of your peace of mind in 2026.

Need Help?

Whether you want to learn more, are looking for help or are just getting started, our partners at Legal Karma have expert consultants that you can meet with to feel confident in the next step of estate planning. Set up a consultation today. 

Read the Winter 2026 InTouch

Maximize Impact. Minimize Expenses

Are you involved with a local non-profit in your community? Here's another way you can help, tell them about MMFCU's NEW Non-Profit Business Checking. This account offers key features to help maximize every donation and minimize overhead, no minimum balance requirements, pays interest on the balance, and dedicated support from our team. 

At Mid Minnesota Federal Credit Union, we're committed to providing the specific, low-cost financial solutions and guidance non-profit organizations need to thrive. As a not-for-profit financial institution, our purpose is not to generate profit for shareholders but to return value to our members and support the communities we serve. 

Learn more here, call or text (218) 829-0371 or visit your local branch today. 

Federally insured by NCUA. Certain restrictions apply. An initial deposit of $100 is required for a Non-Profit Business Checking. With each checking account, you are required to open a share savings account (minimum balance $5).

Read the Winter 2026 InTouch

Home Equity Loans Offer Low Rates & $500 off Closing Costs

If achieving your financial goals is at the top of your priorities in 2026, it’s time to put your home’s equity to work with a Home Equity Loan. This type of loan allows you to borrow against your equity for key life upgrades:

• Eliminate Debt: Consolidate high-interest credit card and holiday debt into one easy payment with often a significantly lower interest rate. 
• Boost Home Value: Pay for necessary remodel projects and upgrades that will increase your home's value, like new countertops, bathroom flooring, and more. 
• Create Memories: Fund your special vacation this year, covering the basics like flight and hotel plus those unforgettable extra experiences. 

Take advantage of a Mid Minnesota Federal Credit Union Home Equity Loan today to lock in a low rate and save $500 on closing costs!

Ready to unlock your home's value? Apply today, visit your local office or, call or text us at (218) 829-0371.

*APR=Annual Percentage Rate. Payment example: A $100,000 loan at 5.99% fixed, 6.184% APR for 5 years results in 60 monthly payments of $1,937.19; $19.37 per $1,000 borrowed. Rates and terms are subject to change without notice. Rate as of 11/17/25. All loans subject to credit approval and membership eligibility. Additional restrictions may apply, not all applicants will qualify. Loan amounts will be determined by income and other factors, including collateral details. The rate shown is the lowest Home Equity Rate available and your rate may be higher. Properties can be 1-4 single family owner and non-owner-occupied homes or land. For Combined Loan-to-Value ratios (CLTV) up to 80%, Maximum loan amount is $200,000. For CLTV up to 85%, Maximum loan amount is $100,000. Maximum CLTV is 90%. Eligible for homes in Minnesota only.
Consumer should contact tax advisor for further information. Closing costs typically range from $500 to $2,000. Waived closing costs up to $500 on home equity applications. Homeowners insurance is required for all 1-4 single family properties. Full appraisal and Junior Title Policy required for loans over 80% CLTV or exceeding $100,000. Federally insured by NCUA. Equal Housing Lender.

Read the Winter 2026 InTouch

The end of the year is a prime time to evaluate your financial health. Reviewing your annual expenses allows you to maintain your focus and paves the way for a successful year ahead. Whether you are new to budgeting or have years of experience, these tips will guide you through a smooth review process.

Establish a Clear Budgeting Process

If you have not created a budget yet, start now. A budget serves as a roadmap for your finances. Once you have a budget in place, verifying where your money goes each month is crucial for financial stability.

To effectively manage your finances, consider these steps:

• Identify your income sources.
• List all your fixed and variable expenses. (e.g. mortgage/rent and groceries)
• Set savings goals for emergencies and future plans.
• Track your spending against your budget.
• Make adjustments as necessary to stay on track.

Utilize Tools for Budgets

Budgeting can be quick and efficient with the right tools. Online banking and credit card statements can simplify the process significantly. MMFCU's Online Banking can help you categorize your spending, allowing you to see where your money has gone without digging through receipts.

• Use budgeting apps to track your expenses in real-time.
• Check your credit card statements for categorized spending.
• Set up alerts for when you exceed budget limits.
• Review bank statements for easy access to spending patterns.
• Consider spreadsheet tools for a more customized approach.

Regularly Monitor Your Finances

Many experts suggest checking your budget more frequently, especially if you are new to managing finances. A bi-weekly or weekly check-in of expenses helps keep you informed and ready to tackle any financial challenges.

Take a moment to sit down together with your family and review your yearly budget. Celebrate your achievements—maybe you saved for a dinner out or paid off debt. This reflection not only highlights your progress but also sets the stage for future goals. Discuss any challenges faced and brainstorm solutions as a team. By making this a routine, you empower yourself or your family to take control of your financial future. Remember, each small step you take today will lead to greater financial freedom tomorrow. Embrace this journey together!

• Schedule regular times to review your budget.
• Review recent spending and upcoming expenses.
• Adjust your budget based on current financial situations.
• Communicate openly about finances to prevent surprises.
• Seek help from financial professionals if necessary, such as MMFCU's partner Lutheran Social Services (LSS) Financial Counseling.

With the right practices, budgeting becomes a manageable task. This approach not only enhances your financial literacy but also empowers you to make informed decisions.

As you assess your financial journey, use the Budget and Savings Goals features in MMFCU's Online Banking or the Mobile App. It is a free, valuable resource for savings and financial planning tailored to your needs.

Take charge of your finances today. Start reviewing your year-end budget or 2025 expenses and set yourself up for a successful year ahead.

Want learn more about ways to protect yourself or have financial wellness tip sent to you? Sign up below or, contact your local Mid Minnesota Federal Credit Union Office.

Sign up for Financial Wellness Tips.

Mid Minnesota Federal Credit Union is federally insured by the NCUA, and we are an equal housing lender.

Chatzky, Jean. "Quick and Easy Ways to Review Your Year-End Budget." SavvyMoney, 27 Jan. 2025, https://education.savvymoney.com/saving/quick-and-easy-ways-to-review-your-year-end-budget/.

Identity Theft Awareness Week (January 26-30, 2026)

Identity Theft Awareness Week arrives at a time when digital threats are more sophisticated than ever. While many resources work year-round to protect consumers, the most effective firewall is an informed member.

What is Identity Theft?

Identity theft happens when someone steals your personal information—such as your Social Security number, bank account details, or health insurance info—to commit fraud. This can lead to drained bank accounts, ruined credit scores, and even the loss of your tax refund.

Today, scammers use AI to draft convincing emails and "spoofing" technology to make their caller ID appear as government agencies such as the IRS, local law enforcement, credit card companies, or even a financial institution like “MMFCU”.

• The "Account Compromise" Scam: You receive a text about "fraudulent activity." When you call, a "representative" asks for your online banking password to "verify" you. Fact: MMFCU (or a reputable company) will never ask for your password or a one-time passcode over the phone.
• Tax Season Fraud: Thieves use your Social Security number (SSN) to file a fake return and steal your refund. If the IRS notifies you that more than one return was filed, act immediately.
• Synthetic Identity Theft: Criminals combine real SSNs with fake names to create "Frankenstein" identities, often targeting children or seniors who don't check their credit regularly.

The Recovery Roadmap

If you realize your identity has been compromised, the first 24 hours are critical. Early intervention can reduce the long-term financial impact.

• Call the companies where you know the fraud occurred – Explain the fraudulent situation. Ask to close or freeze the accounts.  Change logins, passwords, and/or PINs
• Place a Fraud Alert - Contact one bureau (Equifax, Experian, or TransUnion); They will notify the others.  Review your credit report. 
• File a Federal Trade Commission (FTC) Report - Visit IdentifyTheft.gov to create an official Identity Theft Report used to dispute fraudulent debts. 
• File a report with your local authorities (optional)

How to Protect Your Financial Wellness

The best way to protect yourself is to take proactive steps to secure your data:

1. Freeze Your Credit: A credit freeze is the most effective way to prevent scammers from opening new accounts in your name. It’s free and doesn’t affect your credit score.
2. Use Multi-Factor Authentication (MFA): Add an extra layer of security to your financial institution, email, and social media accounts.
3. Monitor Statements: Review bank and credit card statements weekly. Look for even small, unfamiliar charges.
4. Protect Your SSN: Don't carry your Social Security card in your wallet. Only give the number when absolutely necessary (e.g., to your employer or bank).
5. Shred Sensitive Documents: Any paper containing your name, address, or account numbers should be shredded before being thrown away.

Final Thoughts: Your Rights and Resources

Under the Fair Credit Reporting Act, you have the right to ask credit agencies to remove fraudulent info and to receive a free copy of your credit report if you are a victim.

Stay Vigilant:

• Report & Recover: IdentityTheft.gov
• Awareness Events: ftc.gov/IDTheftWeek
• Prevention Tips: ftc.gov/IDTheft

Take five minutes today to check you and your family members’ (i.e. children) credit report for free at AnnualCreditReport.com. Security is a journey, not a destination—stay informed and stay protected.  Our staff at MMFCU is here to assist if you are victim of fraud. 

Want learn more about ways to protect yourself or have financial wellness tip sent to you? Sign up below or, contact your local Mid Minnesota Federal Credit Union Office.

Sign up for Financial Wellness Tips.

Reference: "Identity Theft." Federal Trade Commission, 15 Jan. 2026, https://www.ftc.gov/idtheft.

Scammers grow more sophisticated every year—and 2026 is no exception.

At MMFCU, we are committed to helping you stay informed so you can protect your money, identity, and peace of mind. Here are the top scams affecting consumers today and how to stay safe.

IRS‑Related Scams

Tax season brings a surge of fraudulent emails, texts, phone calls, and fake IRS websites designed to steal personal information like Social Security numbers and bank details.

Common Red Flags:

• Messages claiming a “refund issue” that ask you to verify information through a link.
• Aggressive robocalls threatening arrest or legal action.

How to Protect Yourself:

• Never click links in unsolicited IRS messages.
• The IRS will contact you by mail first.
• Verify concerns only through IRS.gov.

Romance Scams

Fraudsters often build emotional connections through online dating apps or social media before requesting money.

Warning Signs:

• Claims of overseas work or military deployment.
• Sudden “emergencies” requiring financial help.
• Pressure to move conversations to private apps.
• Requests for gift cards, crypto, or wire transfers.
• Refuse to video chat or meet in person.

Safety Tips:

• Never send money to someone you haven’t met in person.
• Reverse‑image‑search profile photos to check authenticity.
• When unsure, consult a trusted friend, or family member—or contact us.

Fake Auto Dealer Scams

Fake online dealerships use low prices, stolen photos, and cloned websites to trick buyers into sending irreversible wire transfers for cars that don’t exist.

Red Flags:

• Prices seem too good to be true.
• Poor‑quality or limited photos.
• Sellers refusing in‑person inspections and pushing for quick payment.
• No verifiable physical address or website inconsistencies.

How to Stay Safe:

• Inspect the vehicle yourself or use a trusted mechanic.
• Research the dealer—verify their address and phone number.
• Avoid wire transfers, crypto, or gift cards.
• Request the VIN and run a Carfax or AutoCheck report.

Lottery Scams

Lottery scams are increasingly sophisticated, preying on dreams of instant wealth.

Watch for These Red Flags:

• Unsolicited emails or messages that claim you've won a prize.
• You won a prize for a contest you did not enter.
• Ask for personal or account information to claim your “winnings.”
• Ask for payment in gift cards, wire transfers or crypto in order to receive your prize. 

How to Stay Safe:

• If you think it might be real, verify it by checking the lottery or organizations website. 
• Never sent them money in order to receive your prize. 
• Check online if there are others that have received similar messages.
• If you don't recognize the phone number or weren't expecting the email, and it feels too good to be true it probably is.

If You Suspect a Scam

• Report to the FTC at ReportFraud.FTC.gov
• Notify your state Attorney General and the Better Business Bureau.
• Contact MMFCU at (218) 829-0371—we’re here to support you.
• Visit our Fraud Center for ways to protect yourself or find additional tips if you feel you have been scammed.

Stay Financially Well, Stay Alert

With awareness and smart habits, you can stay one step ahead of scammers. At Mid Minnesota Federal Credit union, we are here to help protect your financial well‑being every step of the way. For questions, please visit us at mmfcu.org, call or text at (218) 829-0371 or visit your local branch. 

Information referenced from:

• IRS.gov; What to Know About Romance Scams, Federal Trade Commission, 2026;
• Romance Scams, Federal Bureau of Investigation, 2026,
• Fake Auto Dealers Lure Buyers with Spoofed Online Ads, TruStage RISK Alert, January 29, 2026.

Find out what has been happening at Mid Minnesota's locations. 

Aitkin: Driver Improvement Program (55+), Thursday, May 7: 8:30am - 12:30pm OR 1 - 5pm. Register directly with the Precision Driving Center by calling 1-888-234-1294 or online at DriverDiscountProgram.com.

Alexandria: Supported local food shelves to help students in need.

Baxter: $1,000 MNCUN (Minnesota Credit Union Network) Foundation Scholarship Winner: Aden Yost.

Brainerd: $1,000 MNCUN (Minnesota Credit Union Network) Foundation Scholarship Winner: Abigail Smith. 

Fergus Falls: Staff participated in National Wear Red Day raising awareness for Women's Health. 

Little Falls: Staff sponsored The Zoo Gone Wild event at Pine Grove Zoo.

Staples: $1,000 MNCUN (Minnesota Credit Union Network) Foundation Scholarship Winner: Luke Bates.

Read Spring 2026 InTouch

President's Message

Spring can be a time of optimism here in Minnesota. More daylight, and some much-needed warmer temps remind us that summer is just around the corner. As you pack away the shovel and grab for the garden rake we also encourage you to consider this time as an opportunity to discuss and refresh your finances.

If you have not “dusted off your budget,” we can help. Our convenient digital services can provide you with a full picture of your accounts. Many members have used our SavvyMoney services to identify ways to save on their monthly expenses, improve their credit score and more. The Insurance Office at Mid Minnesota can assist with a quote on your insurance needs. We’d love a chance to compare. In addition to helping with expenses, we encourage you to build or replenish your emergency fund. The unexpected expenses of the long winter season add up. We have savings solutions that can help you prepare for next winter! You can check out MMFCU online, by stopping by, or giving us a call. If you’ve been putting off a Will, or Family Trust, MMFCU Legal Karma services offers a low cost, convenient options for members. I strongly encourage all of you to document your wishes and provide your family with peace of mind.

Our mission is to earn your loyalty by providing resources to improve your financial well-being. We’re challenging ourselves to think bigger, innovate faster, and serve with even greater intention. This season offers a natural moment to push forward— strategically, boldly, and with purpose. Here’s to a season of growth, clarity, and forward momentum.

Read the Spring 2026 InTouch

Celebrate Financial Literacy Month This April. 

April is Financial Literacy Month, a perfect opportunity to take charge of your financial well being. At Mid Minnesota Federal Credit Union, we believe that knowledge is the foundation of financial confidence. Whether you’re budgeting for the first time, strengthening your credit, or planning for future goals, this month serves as a reminder that building financial skills can open doors to stability and long term success.

MMFCU offers a wide range of free educational tools designed to support individuals and families at every stage of their financial journey. Our Financial Education resources include topics on budgeting, identity theft prevention, credit reports, and more. These programs are delivered in partnership with local schools, businesses, and community groups, making financial literacy more accessible across the region.

In addition to community workshops, members can access a variety of digital tools in Online Banking or the Mobile App such as the Spending Tracker, which helps you understand your monthly income and expenses. The Savings Plan guide breaks down how to set achievable savings goals, build an emergency fund, and identify opportunities to cut expenses.

If you’re looking to better manage or build your credit, MMFCU also provides resources through SavvyMoney within Online Banking and the Mobile App. Members can monitor their credit score, receive alerts, analyze credit factors, and develop personalized action plans. These tools make it easier than ever to take control of your financial health.

This April, we invite all members to explore these tools, or take one small step toward improving your financial literacy. Every bit of progress counts—and MMFCU is here to help you grow your financial confidence one resource at a time.

Read Spring 2026 InTouch

A New Way for MMFCU Members to Invest

Mid Minnesota Federal Credit Union (MMFCU) is excited to introduce InvestiFi, a new digital investing platform that gives you the ability to invest directly from your checking account through MMFCU’s Online Banking and Mobile App. This service brings more financial opportunity to your fingertips—simple, convenient, and secure.
Whether you’re new to investing or already experienced, InvestiFi offers choices designed to fit your goals and comfort level.

WHAT’S NOW AVAILABLE TO YOU:

GUIDED (ROBO) INVESTING

A hands off alternative that builds a diversified portfolio tailored to your goals and risk tolerance.

SELF DIRECTED INVESTING

Take control and trade from a broad selection of:
 

• 6,500+ stocks and ETFs (Exchange Traded Funds)
• Cryptocurrencies and stablecoins: Bitcoin, Dogecoin, Ethereum, Litecoin, Ripple, Solana, and Stellar

All within your existing MMFCU login for Online Banking or Mobile App. No extra apps needed.

FINANCIAL LEARNING LIBRARY

Easy to understand educational tools designed to help you build confidence and support your investing decisions.

WHY THIS MATTERS FOR YOU

Many people turn to outside investing apps, but those platforms may lack the guidance and support MMFCU provides. With InvestiFi, you get the best of both worlds: modern investing tools combined with the security and service of your trusted credit union. By offering investing directly from your checking account, MMFCU is making it easier than ever for you to explore new opportunities and take meaningful steps toward your financial future. 

InvestiFi is available in Online Banking or your Mobile App.

Learn more about InvestiFi and Digital Investing. 

Investment advisory services provided by AdvisiFi, LLC (“AdvisiFi”), an investment adviser registered with the Securities and Exchange Commission (“SEC”). Registration does not imply a certain level of skill or training. AdvisiFi is a wholly-owned subsidiary of InvestiFi Inc (“InvestiFi”). Brokerage services are provided by InvestiFi Securities LLC (“InvestiFi Securities”) and RQD* Clearing LLC (“RQD”), SEC-registered broker-dealers and members of FINRA/SIPC. Brokerage services are available only to residents of the United States and in jurisdictions where InvestiFi Securities is registered. Brokerage and advisory accounts are not held with the financial institution and are held with AdvisiFi, InvestiFi Securities, and RQD, respectively. You may check the background of these firms by visiting FINRA’s BrokerCheck. Cash and securities offered by InvestiFi Securities and held by RQD are (1) not insured by the FDIC or NCUA, (2) not guaranteed, (3) not financial institution deposits or obligations, and (4) may lose value.
Digital assets (cryptocurrencies) are made available and held in a digital wallet maintained by SAFE Trust Company, a Wyoming trust company, not the financial institution or InvestiFi or its affiliates. SAFE is a separate entity from, and not an affiliate of Mid Minnesota Federal Credit Union or InvestiFi. Digital assets are (1) not federally or privately insured; (2) not obligations of Mid Minnesota Federal Credit Union; (3) not guaranteed by Mid Minnesota Federal Credit Union; (4) heavily speculative and volatile; (5) may have associated fees; (6) may not allow account holder recourse; and (7) offered by a third party. Mid Minnesota Federal Credit Union may receive compensation from your purchase of digital assets. Digital assets (i.e. cryptocurrencies) held in your digital asset account with SAFE (i.e. Crypto account) are insured by any government or private entities, including, but not limited to, NCUA or ASI/ESI. Your digital investing account does not support wallet-to-wallet transferring of your digital assets (i.e. Cryptocurrencies). You should carefully consider whether buying or holding digital assets is suitable for you in light of your financial situation. Digital assets are not obligations of Mid Minnesota Federal Credit Union and are not guaranteed by Mid Minnesota Federal Credit Union.

April is more than just the start of spring—it’s Financial Literacy Month. At Mid Minnesota Federal Credit Union, we believe that knowledge is the foundation of financial confidence. Whether you are budgeting for the first time or planning for long-term goals, this month is the perfect reminder that building financial skills opens doors to lifelong success.

Tools to Build Your Financial Confidence

MMFCU offers a suite of free educational tools and digital resources to support you. You can access many of these directly through Online Banking, our Mobile App or directly on our website. 

• Spending Tracker: Understand your monthly income and expenses at a glance, and make adjustments as needed. 
• Savings Plan Guide: Learn how to set achievable goals, build an emergency fund, and identify opportunities to cut costs.
• SavvyMoney: Monitor your credit score, receive real-time alerts, access resources and develop a personalized action plan to improve your credit health and allow you to manage your accounts the way you want. Check out our Build Your Credit webpage for more information. 
• Alerts & Controls: Set up and customize alerts and controls for your accounts, credit and debit cards to be notified about what you think is important. Using these tools helps you stay informed of activity on your accounts protects against fraud. 
• Education & Security: In today’s digital age, financial literacy goes beyond budgeting—it requires constant vigilance. Protecting your assets starts with staying informed about the latest security threats and scams. Visit our Fraud Center for tips.
  • Community Impact: Through partnerships with local schools and community groups, we provide hands-on resources for fraud prevention and financial wellness. 
  • Learn on Demand: Watch our expert-led sessions on our website or visit our YouTube Channel to browse our library.

Protect Your Loved Ones with Legal Karma

Financial wellness isn’t just about the money in your bank account; it’s about safeguarding what you’ve built. Secure your family’s future with an affordable, easy-to-create estate plan.

Special April Member Offer: Save 20% on Wills and Trusts

• Lock in Savings: Not ready to finish? Purchase today to lock in your 20% discount* and complete the plan at your own pace.
• Flexible Payments: Split payment options are available for your convenience.
• Expert Support: Schedule a free phone appointment with an Estate Planning Specialist or contact our Member Support Team at (218) 429-3151.

Every bit of progress counts toward a more secure future. This April, we invite you to explore one new tool or set one new goal. Whether it’s tracking your spending or finally starting your Will, MMFCU is here to help you grow your financial confidence one resource at a time. 

*These savings expire at 11:59pm CT on April 30, 2026.

In a world that is increasingly digital, the way we handle our money is evolving. While the traditional wallet has been a staple for decades, many are transitioning toward a digital alternative. At Mid Minnesota Federal Credit Union (MMFCU), we believe that understanding the technology behind your finances is the first step toward financial empowerment.

Here is a breakdown of what a digital wallet is, how it protects you, and how it can simplify your daily transactions.

What is a Digital Wallet?

A digital wallet is a software application that lives on your smartphone, tablet, or smartwatch. It securely stores a digital version of your physical credit or debit cards.

Instead of searching for a physical card at a checkout counter, you utilize Near Field Communication (NFC) technology. This allows your device to "talk" to a payment terminal when they are held close together—usually within a few inches—to complete a transaction.  This works similarly to contactless cards where you tap to pay. 

How Your Data Stays Private

One of the most common questions members ask is: "Is it safe to have my card on my phone?" When you load your Visa® card into a digital wallet like Apple Pay, Google Pay, Samsung Pay or Visa Checkout your actual 16-digit card number is not stored on the device, nor is it shared with the merchant.

• The system creates a random, one-time-use string of numbers called a "token."
• This token is sent to the merchant to authorize the payment.
• Because your real card number is never transmitted, it cannot be captured or stolen during the transaction.

Additionally, most mobile devices require biometricauthentication such as a fingerprint, face ID, or passcode, to authorize the payment, adding a physical layer of security that a plastic card simply doesn't have.

Why the Shift to Digital?

Beyond security, there are practical reasons why many people are making the switch:

• Contactless payments are significantly faster than waiting for a chip reader to process or handling physical cash.
• Many prefer the "no-touch" nature of tapping a phone versus touching a keypad or handing a card to a cashier.
• Digital wallets can also store boarding passes, loyalty cards, and event tickets, consolidating several items into one secure location.

Getting Started with MMFCU

If you are interested in exploring this technology, MMFCU has streamlined the process to make it educational and accessible. Through the MMFCU Mobile App, you can manage your cards and "push" them to your preferred digital wallet. This eliminates the need for manual entry and ensures your card is verified correctly by our systems.

1. Log in to the MMFCU Mobile App.
2. Navigate to your Manage Card settings.
3. Look for the option to add your card to Apple Pay, Google Pay, Samsung Pay or Visa Checkout.
4. Follow the prompts.
5. For assistance, check out our video on how to do this.

While the transition to a digital wallet is a personal choice, it represents a significant step forward in both payment security and convenience. Whether you are grabbing groceries or shopping online, this technology is designed to protect your hard-earned money while saving you time.

At MMFCU, our goal is to provide the tools and education you need to bank with confidence. If you have questions about setting up your mobile device or want to learn more about ways to protect yourself, our team is always available to help.

This blog is for educational purposes. For specific account questions or technical support, please visit a local MMFCU office.