Recent economic turbulence has made it difficult to know where to go or who to trust for your financial services. The stock market is down, people are losing their life savings in Ponzi schemes, and banks are asking for billions of dollars of taxpayers’ money just so they can stay afloat. Other banks and investment houses have gone out of business entirely. With all the turmoil swirling around in today’s economy, isn’t it nice to know that you can still count on Members Credit Union to be there for you and your family?
Last week, I was startled to read that Wells-Fargo just had the most profitable quarter in the bank’s history – $3 billion! Bank of America recently announced that they are doubling the interest rate on millions of customers who carry a balance on their credit cards, and raising their ATM fees from $2 to $3 per transaction. US Bancorp has recently come under fire for checking account advance loans, short-term advances that charge the equivalent of 120% APR to their neediest customers. While the rest of the world is dealing with the realities of a devastating recession, banks, armed with billions of our TARP dollars, are seizing the opportunity to play the Somali pirate role with your hard-earned money.
Contrast these banking nightmares with what our members have experienced over the past several months. When our members were hurting over the holidays, we allowed them to, fee free, skip a payment. When banks were raising loan rates, we dropped ours across the board by seventy-five basis points. As competitors raise fees to record levels in the dark of night, our fee schedule remains public and unchanged.
We admit that Members Credit Union may not be the flashiest financial institution around. We don’t have opulent branches with lavish furnishings. We don’t have commercials on television every night, and we don’t sponsor professional golf tournaments. You won’t find a Members Credit Union corporate jet – in fact, you won’t even find an MCU corporate car. What you will find, however, is a credit union that cares about its members – one that always offers quality financial products and services at competitive prices. We opened our doors 56 years ago to provide members with a stable, yet rewarding, alternative to the usury of bank competition. Today, in the midst of financial sector mayhem, we remain the calm, safe, secure, and trustworthy rock you can depend on for the best overall deal in the market.
We don’t promise double digit returns on your money or that you can get rich overnight. As the Bernie Madoffs and all the others who have been caught running Ponzi schemes have proven, if it sounds too good to be true then it probably is too good to be true. We are the steady tortoises to those misleading hares. We promise solid returns on your investments, and the peace of mind of knowing that your money is federally insured by the National Credit Union Share Insurance Fund to at least $250,000. We also deliver sound financial advice so you can make the best decisions for your family and your future.

• We believe in a steady, systematic approach to savings and prudent borrowing to help you reach your financial goals.
• We recommend payroll deduction to make it easier to build savings nest eggs.
• We offer fee free checking accounts w/ free online bill pay and home banking.
• We don’t encourage you to borrow more money than you need.
• We don’t mail courtesy checks or pre-approval loan offers to entice you to excessively borrow money.
• Our loan officers leverage their experience and our excellent loan rates and terms to find the perfect loan for your needs.

Enough is enough! If you have any deposits at another financial institution, transfer your balances to Members Credit Union. Have a high rate loan with a bank? Refinance with us! Have family members or friends who haven’t experienced the Members Credit Union difference? Now is the time to encourage them to start earning more on deposits, paying less in interest and fees, and being treated the only way our employees know how – like respected and valued member-owners. Your wallet and peace of mind will thank you for it.