Thinking about retirement can be daunting to anyone- thinking about what you’ll need, how to save, where to save, and how to invest those savings.  Fortunately, there is a smart, simple way to get your retirement funds on the right track- a Roth IRA (Individual Retirement Account).  It’s the retirement savings account that affords you [...]

Recently I was watching television and a car ad came on that just seemed too good to be true. “0% financing for 60 months!” “No money down! Come see us and you can be driving a new car home today.” And it really got me to thinking about advertising and how a great deal on [...]

There is no denying that it has been a rough couple of years for dividend rates at financial institutions all across the country. I am constantly asked when savings rates may start to rise again. Unfortunately I don’t have a crystal ball that will predict the future. If I did I would have already won [...]

It’s hard to believe the 2010 Holiday Season is approaching. One of the comforts I look forward to the most is Mom’s homemade pumpkin pie and peppermint pound cake. Mom’s home cooked meals never disappoint my family and we rarely find a meal anywhere else that can compare. Why does Mom’s cooking taste better? The [...]

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 Union. This was a [...]

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 [...]