http://jackbraswell.com From the Desk of Jack Braswell, President/CEO Members Credit Union Mon, 26 Jul 2010 13:42:13 +0000 http://backend.userland.com/rss092 en 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 ... http://jackbraswell.com/2010/07/overdraft-protection-is-your-checking-account-protected/ 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 ... http://jackbraswell.com/2010/06/big-on-service-not-on-risk/ Last year Congress passed the CARD (Credit Card Accountability, Responsibility and Disclosure) Act to protect consumers from usurious rates and unfriendly terms by credit card issuers. The first phase of the legislation took effect last August. It required statements for open-ended loans to be sent at least three weeks prior ... http://jackbraswell.com/2010/04/beware-of-credit-card-tricks-and-traps/ As we survey the financial landscape after a volatile 2009, we are pleased to report that Members Credit Union fared quite well. In a year in which over 140 banks failed as well as 28 credit unions, Members Credit Union maintained a strong capital to asset ratio of just under ... http://jackbraswell.com/2010/03/joint-report-2009/ If you are reading this you are probably already a credit union member, yet your primary financial institution may still be a megabank. So, I ask you, what has your bank done for you lately? Since 2008 banks have accepted hundreds of billions of dollars in federal bailout money, raised ... http://jackbraswell.com/2010/01/is-it-time-to-break-up-with-your-bank/ 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 ... http://jackbraswell.com/2009/12/the-spirit-of-christmas-every-day-of-the-year/ Last September, the credit crisis became official with the collapse of Wall Street mainstay Lehman Brothers. Although the Main Streets and country roads of North Carolina are far away from New York City we could not escape the aftershocks of this economic disaster. The stock market plummeted. Unemployment soared. Consumer ... http://jackbraswell.com/2009/10/helping-members-again-with-holiday-skip-a-pay/ 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 ... http://jackbraswell.com/2009/07/were-growing-while-the-economy-parties-like-its-1979/ Although Yogi Berra spoke the immortal words "It ain’t over till it’s over" in 1973, he just as well may have been talking about the credit crisis that began in the summer of 2008. Americans are desperately searching for signs that the worst of this recession is behind us. Recent gains ... http://jackbraswell.com/2009/06/recession-when-will-this-thing-be-over/ 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 ... http://jackbraswell.com/2009/04/bunk-banks-highlight-the-value-of-mcu/