With unemployment levels rising and many employers cutting work hours, lots of college grads are now struggling to meet their student loan payments. Thankfully, the federal government has passed legislation to ease this burden. Unfortunately, though, many borrowers are confused about the terms and conditions of these changes. Here’s all you need to know about […] Continue…
The Internal Revenue Service (IRS) has begun issuing Economic Impact Payments (EIPs) as part of the CARES Act. Visit our FAQ page for more information about EIPs and the CARES Act. EIPs are based on 2018 and 2019 tax filings. Individuals who did not file for electronic returns for 2018 or 2019 filings will not […] Continue…
With the ongoing events related to COVID-19, please beware of potential scams. Many fraudsters are pretending to be credible sources, such as the World Health Organization (WHO) and Johns Hopkins University. Most commonly, they are targeting victims through phishing emails, phone calls, text messages, and social media. To help protect yourself against fraudsters, do not […] Continue…
As an NCUA-insured credit union, your accounts at Members Exchange are federally insured up to $250,000 by the National Credit Union Association (NCUA). NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. Credit Union members have never lost a penny of insured savings at a […] Continue…
Identity theft can occur when an individual obtains personal information, such as your social security number, date of birth, address, and financial account numbers. Once this information is collected, the thieves will assume or take on your identity, allowing them to purchase items or obtain credit illegally. While identity theft can happen to anyone, there […] Continue…
Who needs a budget anyway? If you’re always wondering how you’re going to pay the next bill, feel guilty when you indulge in overpriced treats and you can’t seem to find money to put into savings, then you probably need a budget. A budget is not a magic potion that will automatically solve all of […] Continue…
Unexplained charges on your credit or debit card can be very inconvenient to deal with. Paying close attention to transactions will help you to detect these discrepancies early so that you can dispute them as soon as you notice anything suspicious. We recommend that you take the following steps to dispute unknown transactions: Step 1: Verify […] Continue…
Q: Do I need to have a separate rainy day fund and emergency fund? A: In an effort to simplify their money, people sometimes consolidate accounts. This is OK in many instances, but it’s important to remember that rainy day funds and emergency funds serve different purposes. Additionally, it’s important to have not just one, […] Continue…
We are partnering with WLBT to host a Coat Drive, Operation Warmth, for We Will Go. We will be accepting donations through January 6. You can drop off your donations at any MECU branch or We Will Go. Donation Items Accepting gently used or new… Coats Scarves Gloves Hats Shoes Socks (new only) Blankets Continue…
Mega e-tailers, like Amazon and Walmart, may monopolize online commerce, but it’s the small businesses across the country that keep the economy going. In fact, according to the Small Business Administration (SBA), the 28 million small businesses in America account for 54 percent of all sales in the country. Small businesses create jobs, build a […] Continue…