Mid Minnesota Federal Credit Union
Brainerd, MN:
What are credit unions and how can they beat payday lenders?
Credit unions offer affordable loans to low-paid local people. They may not have the advertising capacity of lenders like Wonga, but it’s a growing movement
What is a credit union? The key to snagging a low-interest mortgage
When shopping for a mortgage, there’s one lender that home buyers often overlook: credit unions. So what is a credit union? It’s a cooperative financial institution owned and controlled by its members—all of the co-op’s account holders and borrowers. This setup comes with some distinct advantages if you’re shopping for a home loan, as well …
6 reasons it pays to switch to a community bank or credit union
Smaller, community banks and credit unions have a lot going for them. These are six reasons why it pays to switch to a community financial institution.
Crickets as taxi lender opens medallion bidding at $200K
No takers at the cash price, yet credit union aims to finance purchases at 50% more
Quick Tip Series: Manage My Money in myBanking
People’s Manage My Money feature is a budgeting tool accessed through myBanking™. It provides options that allow you to monitor cash flow, set savings goals ...
How to Get Out of a Payday Loan — MagnifyMoney
The payday loan trap begins innocently enough. You’re low on cash, you’ve maxed out your credit cards, and none of your family or friends can loan you the money. Borrowing $250 from a payday lender seems like a logical solution. As long as the $250 plus a $37.50 fee is paid at the end of the two-week term – the time your next paycheck comes due – you’ll be debt free. No harm, no foul. Before you know it, you run out of…
3 ways to build credit
By: Francisco Cervera Building credit when you have none can be tricky. Imagine this scenario: You walk into your local bank or credit union and apply for a loan. The loan officer returns with the negative news that you were not approved because you don’t have enough credit history. You quickly ask the loan officer, “How am I supposed to build credit history if you won’t give me credit!?!?” Good question. It’s a catch-22 for sure. So here are three ways to help…
How to Spot a Predatory Lender
Most people are familiar with the concept of predatory loans—a lending practice that imposes unfair or deceptive terms on borrowers, often taking the form of payday loans or title loans with egregious interest rates. But what’s the distinction between a predatory loan and a legitimate loan with a high interest rate? Here’s how you can spot the difference.
Another worry of a credit union lender
For CUES member Marty Pell, CIE, SVP/chief lending officer for $3.2 billion Coastal Federal Credit Union, Raleigh, North Carolina, the economic landscape is top of mind when it comes to the future of lending. “We’re late in the cycle,” Pell says. “But as credit unions, are we prepared for a potential slowdown? What consumer behaviors …
How to Get a Loan Without a Job and Bad Credit
The ability to take out loans is something that many Americans take for granted. However, for many of us, it’s not so simple. Trying to get a loan when you don’t have a job is tough. Trying to get a loan when you don’t have a job, and you also have bad credit is extremely tough. The great news is that it’s possible. Many people find themselves in one of these situations. Fortunately, one of the strengths of capitalism is that where there…
Thoughts on Payday Loans’ Terms and Fees
According to Finextra, Payday lender Wonga is to expand its business into longer-term financing for online retail purchases. Commenting on the article, Wonga takes on credit cards with e-finance lo…
A Payday Advance or Cash Advance Online Dangers
In simple terms a cash advance or payday advance is an expensive short term loan through your credit card or a payday lender because of cash advance fee
Teachers Credit Union named an SBA lender
The U.S. Small Business Administration named Teachers Credit Union an SBA lender.
