What is a Home Equity Line of Credit and Is It for Me?

Date February 3, 2014

Slowly, quietly — perhaps without you even realizing it – something exceptional has been happening all around you. Your home has likely gained a good deal in value.

The S&P/Case-Shiller Home Price Index, a leading measure of U.S. home prices, just reported selected city composite gains of nearly 14% year-over-year, based on data through November 2013.

The Los Angeles area is one of only three metros, including Las Vegas and Phoenix, to have posted 20 or more consecutive monthly gains in home value. Combine that with low inflation — 1.5% in 2013 – and home owners are seeing solid appreciation and rising equity values.

It may be the perfect time to consider a home equity line of credit.

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Help Your Child Open their First Savings Account

Date January 8, 2014

Have you thought about opening a savings account for your child? This milestone can be an invaluable introduction to the world of personal finance and will acquaint your child with the most important aspect of money – saving. Teaching your child about financial responsibility at an early age provides crucial knowledge that can help introduce them to a complex topic; and considering the massive economic problems affecting many Americans, the importance of financial literacy cannot be overstated. Since most school systems spend little time addressing the issue, it’s up to you as a parent to make sure your son or daughter is equipped with adequate knowledge, and opening a savings account is one of the easiest ways to do so.

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New Year, New DMV Laws

Date January 3, 2014

The California Department of Motor Vehicles (DMV) is reminding motorists of some of the new laws that will become effective in the new year. The following laws go into effect on January 1, 2014, unless otherwise noted.

Bicycles: Passing Distance. AB 1371 (Bradford), known as the Three Feet for Safety Act, will require a motor vehicle driver passing a bicycle that is proceeding in the same direction to pass with no less than 3 feet between any part of the vehicle and any part of the bicycle or driver. When three feet is not possible, the motor vehicle must slow to a reasonable and prudent speed and only pass when no danger is present to the bicyclist. Failing to do so can incur a fine, regardless of a collision or not. This law will take effect September 16, 2014.

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Target Data Breach: Be Proactive to Prevent Fraud

Date December 19, 2013

The hot topic in the news today is the debit and credit card data breach at Target stores. According to Target, over 40 million debit and credit cards used at their stores between November 27th and December 15th may have been affected.

What does this mean? If you have shopped at a Target in that date range, and used a debit or credit card, you may want to take some steps to not only give yourself peace of mind, but ensure that your card will not be used for fraudulent transactions.

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Win $250 in Our Photo & Video Contest!

Date December 4, 2013

What would you do with an extra $250?

Enter our “I Love MCCU!” Photo & Video Contest today! It’s as easy as 1-2-3!

 

1) Get creative! Write a short poem or haiku, write a jingle, photoshop a photo (see above photo for example), or whatever you want!

2) Upload your entry by January 17, 2014 here!

3) Get your friends to vote for you – share on your Facebook page!

Voting starts January 18th! You don’t have to be a member to win, anyone can enter and win!

It’s easy to do, so don’t wait! Email us with any questions!

 Have fun and enter today!

5 Reasons to Get an Energy Loan

Date December 4, 2013

If you’re thinking about making energy-efficient updates to your home, you may be considering taking out an energy loan to help supplement costs. While you might be leery about taking on an additional debt, making your home more energy-efficient can be an excellent financial decision that you don’t want to pass up. There are countless reasons to apply for an energy loan to make improvements to your home, but here are five of the most important ones:

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Say Hello to the Sprint Credit Union Member Discount

Date November 26, 2013

If you’re looking to save with a #1 wireless company, then it might be time to say hello to the Sprint Credit Union Member Discount from Invest in America! As a member of Credit Union Name Here, you can save with the one that JD Powers & Associates ranks as the “Highest satisfaction with the Purchase Experience.”

Ways you can save:

  • 10% off*select personal Sprint plans
  • 15% off*select business Sprint plans
  • Waived activation fee on new activations
  • Waived upgrade fee
  • Available to new and existing Sprint customers

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Which Type of Mortgage Loan is Right for You?

Date November 20, 2013

When it comes time to buy your first home, understanding you options can be daunting. With so many different types of loans and mortgages available to you, it may not be immediately clear which is the right choice for your family. A basic understanding of the different types of mortgages can transform you into a more confident home buyer and will help you make a well-informed decision before taking the next step.

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Getting a new Mortgage Loan? Pre-Qualification vs Pre-Approval: What’s The Difference?

Date November 5, 2013

Buyers are out in full force, which indicates it is going to be competitive for homebuyers.  Since many homes are receiving multiple offers from prospective buyers, when you are ready to buy a home, you will need to be prepared to act quickly.  To that end, it is imperative that you have your mortgage financing in order before you begin house-hunting.

In years past, a pre-qualification for a mortgage loan may have been enough for a seller to seriously consider your offer.  However, today you’ll need to have a pre-approval letter to demonstrate you are serious about buying a particular home and that you have the financing in place to do so.  Here’s how pre-qualifications and pre-approvals differ.

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Protect Yourself From Identity Theft with eStatements!

Date November 1, 2013

Are you tired of checking your mailbox and finding nothing but bills, junk mail, and statements from your bank or credit union, your mortgage lender and your investment firm?

Is your mailbox locked? Can anyone access it? Identity thieves will go to great lengths to steal your personal information in an attempt to commit identity theft. One such method is to steal bills and statements from your mailbox. I’m not saying this to frighten anyone, but it is a reality. And there is a way to prevent this from happening, aside from getting a lock on your mailbox.

e-Statements is the answer. But are they safe? If your financial institution offers e-Statements, you can rest assured they did their due diligence to ensure that your access to your online statements is safe and secure. Here’s how it works at MCCU. You will receive an e-mail monthly (or quarterly if you only get quarterly statements) notifying you that your e-Statements are ready to be viewed. You simply log into e-Branch online banking, click on the e-Statements tab and voila – there are your statements. And not just the current statement; you’ll be able to view up to 18 months of previous statements as well.

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