Blog & News - Midwest Community

Navigating the Mortgage Maze

Life Goals Money Management

Whether you’re buying your first home or your fifth home, your finance options can be confusing. That’s because many types of mortgage loans are available, with varying rates and terms. However, the basic difference in mortgage loans boils down to these differences: Whether the interest rate is fixed or adjustable. Whether or not the loan is government insured.   Fixed or adjustable? As the name implies, a fixed-rate loan is a mortgage loan with an interest rate that never changes….
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How to shop for the best deals on groceries

Money Management Spending/Saving

In a time when most Americans are living paycheck to paycheck, many times having to choose between paying a bill and buying food for the week, getting a good deal on groceries is important. Ohioans are actively strategizing to save money at the grocery store, according to an Ohio Credit Union League Consumer Survey. About 71 percent of shoppers will comparison shop before putting an item in their cart, 68 percent utilize digital coupons, while 60 percent use printed ones….
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5 Steps You Can Take To Prevent Tax Identity Theft

Fraud

Tax season is prime time for criminals to steal personal data, and the National Credit Union Administration is reminding credit union members to educate themselves on how to recognize the signs of tax-related identity theft. Last year, the IRS identified 14,068 fraudulent tax returns with $918.6 million claimed in fraudulent refunds, according to an audit report from the Treasury Inspector for Tax Administration. MyCreditUnion.gov provides useful information to help members protect themselves and take action if they believe they have…
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5 Ways A Good Credit Score Is Your Safety Net

Credit Score Money Management Spending/Saving

A healthy savings account is your best defense against life’s curve balls. But sometimes setting aside some money every paycheck isn’t enough—particularly when you’re just starting out in life. A good credit score can be an additional safety net, providing you access to low-interest credit options that can help cover any expenses your emergency savings can’t. Here are your options: 1. Credit cards Credit cards can be useful for relatively small emergencies. Of course, this requires that you haven’t maxed…
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Students! Win $5,000 Toward College!

Life Goals

OCUF Annual Video Scholarship The Ohio Credit Union Foundation believes in lifting up student CU members who are moving on to higher education through its annual video scholarship. Students can submit a short video for the chance to win $5,000 towards college. Applications are being accepted from Feb. 1, 2018, through Monday, April 30, 2018. To qualify for the video scholarship, student applicants must: be at least a high school senior; be a member of an Ohio-based credit union; and…
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4 Ways to Stick to Your Budget

Money Management Spending/Saving

When you’re adjusting to keeping a budget, it can be tempting to give up. If you’re having trouble staying with your budget, here are a few things that could help… Keep it real Maybe you didn’t allot enough money in certain areas of your budget. If this is the case, try and find a happy medium that is more realistic so you can still cut back a little bit. Automate when you can Having trouble saving? We’ve all been there. If…
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How to Save Your First $1,000

Life Goals Money Management Spending/Saving

Sometimes that hardest thing about saving money is just starting. It can be challenging to find and stick to strategies that help you pursue your financial goals. Here are 4 tips to help you finally hit that goal. 1. Create a Budget If you have never created a detailed budget, now may be the time to start, otherwise it’s almost impossible to track your spending and find room to save. Having a budget, even a simple one, will help you…
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The 4 Biggest Credit Union Myths: Debunked

Money Management Spending/Saving

Credit unions are having a moment—and that moment keeps begging bigger and longer. Since the financial crisis of 2008, millions of Americans have switched from banks to credit unions. Now more than 106 million people in the U.S. use credit unions. Why? Because credit unions are a better deal. They offer better rates, fewer fees, and their superior service and people-first values empower you to get after your biggest dreams in life more quickly. But there are some persistent myths…
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10 Pieces of Wedding Advice from a Newly-Engaged Couple

Money Management Spending/Saving

Before my partner and I got engaged last month, we always swore we would do one of those Instagram-worthy elopements. But sure enough, a week into being engaged, we caved and decided to hold a small wedding. We were thinking 50 people tops. And then we got to documenting a guest list, and it turns out my family is pretty huge. Here are our top ten pieces of advice – and yes, we’ve already learned them one month in. 1….
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Squad Goal: Don’t Let Your Friends Blow Up Your Financials

Life Goals Money Management Spending/Saving

Take a close look at your circle of friends, and I bet you’ll find that the majority of them are pulling down an annual income pretty similar to yours. Thare are some obvious reasons for this. Many studies show that close groups of friends often have similar income levels. But we tend to reflect our friends, and this could be what’s keeping you back from that next income level. Now, don’t freak out. I’m certainly not advocating that you un-friend your current crew—nothing…
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