Lately, financial institutions have sent letters to their checking account holders requesting them to opt-in to an overdraft protection plan that will allow debit card purchases or ATM withdrawals to clear the Checking Account, even when funds are not available. Sounds like a great deal until you learn that some financial institutions could charge as [...]

In 1953, twenty employees of McLean Trucking Company formed McLean Employees Credit Union, a financial cooperative, to benefit their fellow employees. Their strategy was simple. Create a fair lending and savings environment that respects the financial well being of all members no matter what their financial status may be. The framework for their success did [...]

Christmas comes but once a year, yet the Christmas Spirit is alive and well all year round at Members Credit Union. Even during the rough economic times over the past twelve months – unemployment remains over 10% in North Carolina - the generosity of our members, employees, and the communities we serve has been outstanding. [...]

In 1979 General Motors (GM) was the largest private employer in the country, with domestic employment peaking at a whopping 618,365. Worldwide, GM employed nearly 900,000 people. That same year, I started work as the new Treasurer for a 12,000 member, $28.9 million credit union in Winston-Salem called McLean Employees’ Credit [...]

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 [...]

Recently released government figures reveal what many of you already knew – Americans have rediscovered the importance of thrift. The national savings rate in January jumped to 5% after checking in at around 0% as recently as last spring. The national spending rate has plummeted by 4.3%, the largest drop in almost 29 years.
This change [...]

1n 1953, the hard-working employees of McLean Trucking Company grew tired of being abused by big banks. The traditional whipping boys of the banking industry, working class Americans had one of two options for their financial services: become the unwilling cash cows for bankers and their investors; or get shut out of the industry altogether. [...]

A trip through the grocery store checkout lane can sometimes feel like a game of Twenty Questions. Paper or plastic? Debit or Credit? PIN or pen? Even more frustrating, while you are trying to decide which payment option to use you may be missing the “Latest Weight Loss Sensation” or “Elvis Fathers Britney Spears’ Third [...]

Every year about this time, there is a distinct buzz around Members Credit Union. As the leaves in this part of North Carolina start turning beautiful hues of yellow, red, brown and orange, a palpable excitement fills the air. This energy has nothing to do with the moderation of temperatures or the peaceful views of [...]

It seems I just can’t escape work. MCU@Home sent an email alert to my mobile phone today that my payroll check had been deposited in my account. Pretty neat, eh? On vacation last month, I was able to check my checking account balance toll-free from a pay phone. Super cool! So far this year, I have [...]