Empower Your Future: April is Financial Literacy Month
Financial Literacy is crucial for managing personal finances effectively and making informed economic decisions.
Phone Outage:
Our phone lines are currently down. We are working on the issue with our phone provider. Please use the Chat option on our website or log in to Online Banking or Mobile App and send a message or chat.
Improve your financial well-being and build your credit score with a Credit Builder Loan.
Build Your Credit Score
Your credit score is an indicator of financial health and it can also impact your insurance rates, ability to rent an apartment, and even get a job. A Credit Builder Loan from your credit union is one way we are investing in you, our member owner. We provide the money from $500 to $2,000, also known as collateral, to you. As you make monthly loan payments, you build your credit history and we release the money to you to use or save as a down payment for a future purchase.
This loan is designed to help those starting their credit journey, or those that need a little help improving their credit score. Similar to our Share Secured Loan, the Credit Builder Loan will allow you to have the funds for the loan held in a corresponding savings account. Those monthly payments help establish or improve credit.
If having a credit score is new to you, here’s the basics:
- Credit Scores range from 300 to 850 being the best.
- A score of 640 or higher is considered “good.”
- 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 what types of debt you have, for example a credit card versus a car loan.
Border
Credit Score is Your Indicator of Financial Health
- With a Credit Builder Loan, you are investing in your financial health.
- Successfully making loan payments can impact two of the five factors that make up your credit score.
- Your credit score impacts your ability to obtain a loan as well as insurance rates, ability to rent an apartment, and even get a job.
Monitor Your Credit Score In Online Banking or the Mobile App
Mid Minnesota Federal Credit Union has your financial well-being as our number one priority, so we are making it easy for you as we partner with SavvyMoney® so that you can monitor, build or establish your credit score.
With SavvyMoney® you can use their tools to help with your credit score, setting credit score goals, and even checking your financial wellness. Start by logging into online banking or the mobile app and click “Check Your Score.”
Calculate your options
MMFCU Loan Perks
Easy Payments
You can make loan payments however it suits you best. Set up auto withdrawals, have us deduct them from your paycheck, or make payments at your convenience with online banking. Whatever you choose!
Manage Your Account Anywhere 24/7
Take MMFCU with you, wherever you go, Manage your money and loan accounts easily whether you are across town, or across the country with Online Banking or the Mobile App.
Stay Cyber Smart and Financially Secure
November is Fraud Awareness Month: The Scams Are Evolving—Are You? The holiday season and shopping events like Cyber Monday are prime time for scammers. They hope to catch you in a hurry or when you're distracted. The best defense for your hard-earned money is a little awareness. Here’s how to spot and stop fraud.
National Credit Education Month
March is National Credit Education Month, a time to raise…
President's Message Fall 2024
The results of our 2024 Member Survey are in, and…our work isn’t done!
Why Choose MMFCU?
It's time to do banking differently. At MMFCU, we believe that true financial growth can only happen when we all grow together. Credit union banking is rooted in locals serving locals, for the good of our community. We care about this community because it's our home too. When you progress, so do we and in turn, we help others do the same. Owned by members (that's you!) and led by members-that's the credit union difference.
Need help or have questions?
Chat with one of our expert staff:
*Loans subject to credit approval. Certain restrictions apply.