International Credit Union Day
On October 16, 2014, credit unions around the world will celebrate International Credit Union (ICU) Day®. That’s 200+ million people … from 56,000 credit unions … in 101 countries joining together to celebrate their cooperative spirit.
Globally, this cooperative spirit has led to life-changing opportunities in the form of small business start-ups, home ownership, and education. In some countries, members encounter their first taste of democratic decision-making through their member-owned credit unions.
This year, credit unions have been present during the most tumultuous moments around the world. Throughout the crisis in Ukraine, credit union volunteers were among the protesters in Kiev and are now attempting to maintain financial stability for their members. With the help of the World Council of Credit Unions, which is supported by credit unions in the U.S., Ukrainian credit unions are working on ways to ensure loans can be made to those who need it, and upholding the confidence of their members.
On the other side of the globe, credit unions in the Philippines are dealing with the devastation left after the recent typhoon. With the help of credit union organizations around the world, they are now rebuilding and renovating affected branches to better fit members’ needs. After such destruction, these Filipino credit unions are helping people get back on their feet. And credit unions worldwide are providing the basis for development while serving local communities, with an unwavering belief in the “people helping people” philosophy upon which we were built.
Locally, as a member of Matanuska Valley Federal Credit Union, you and your financial stability are our top priorities. Globally, you’re part of a much bigger movement—the credit union movement—working towards global good each and every day. That’s definitely something to celebrate! •
Credit unions know that you need more than a variety of products and services. You need to know that your money is safe—and at a credit union it is.Money is Insured
The National Credit Union Administration (NCUA) is the independent federal agency that regulates charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 90 million account holders in all federal credit unions and the majority of state-chartered credit unions. As an alternative, many credit unions choose to insure your funds through private insurance companies.
The NCUSIF provides all members of federally insured credit unions with $250,000 in coverage for their individual accounts. These accounts include regular shares, share drafts (similar to checking), money market accounts, and share certificates. Individuals with account balances totaling $250,000 or less at the same insured credit union have full NCUSIF coverage.
Members have full NCUSIF coverage at each federally insured credit union where they are qualified members. While NCUSIF coverage protects members at all federally insured credit unions from losses on a broad spectrum of savings account and share draft products, it does not cover losses on money invested in mutual funds, stocks, bonds, life insurance policies, and annuities.Responsibly Managed
Credit unions generally offer higher interest rates for savings accounts and lower rates for loans, when compared to most banks. And credit unions typically do not engage in predatory lending practices, such as offering subprime loans or payday lending programs with exorbitant rates and fees.
Credit unions also follow conservative investment practices and live within their financial means. That means you can trust your credit union to put the needs of you and its other members first.Financial Guidance
Across the country, credit union staff members participate in programs that help consumers learn the basic financial skills that will serve as a strong foundation for their financial futures.
Also, many credit unions and their state associations work with other non-profit entities to help educate consumers about the risks associated with predatory lending.
Whether it’s working with schools to open in-school branches, hosting a financial planning seminar, or offering ID-theft prevention tips at a branch, credit union staff members share their knowledge with the community. Because the more knowledge credit union members have, the wiser the decisions they can make with their money. •» top «
Watch Your Account
Please take notice! Matanuska Valley Federal Credit Union never asks for any confidential or financial details by e-mail, telephone, or text message. If you receive an e-mail, phone call, or text message claiming it is from your credit union, or from any financial institution, asking for financial or personal or sensitive data, do not reply. Do not respond by clicking on a link within the e-mail message. NCUA will never ask you to answer an e-mail. DO NOT OPEN and DO NOT REPLY to any of these e-mail requests. Learn more about protecting your privacy. •
Some Elements of the American Character
I thought I would once again call on a guest writer to give us some truly inspired wisdom as we celebrate Independence Day. For many of us, JFK has a special place in our hearts. He was the young president who promised a new generation of leadership. Not unlike today, the world was a dangerous place and our nation and President Kennedy would soon be tested.
I still remember as a young person being challenged by the words of his inaugural speech, “And so, my fellow Americans: ask not what your country can do for you – ask what you can do for your country.”
The following is from a speech delivered by John Fitzgerald Kennedy, Candidate for Congress from the 11th Congressional District, July 4, 1946, titled Some Elements of the American Character.
"Our deep religious sense is the first element of the American character which I would discuss this morning.
"The informing spirit of the American character has always been a deep religious sense.
"Throughout the years, down to the present, a devotion to fundamental religious principles has characterized American thought and action.
"Our government was founded on the essential religious idea of integrity of the individual. It was this religious sense which inspired the authors of the Declaration of Independence:
'We hold these truths to be self-evident: that all men are created equal; that they are endowed by their Creator with certain inalienable rights.'"
"Our earliest legislation was inspired by this deep religious sense:
'Congress shall make no law prohibiting the free exercise of religion.'"
"Our first leader, Washington, was inspired by this deep religious sense:
'Of all of the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports.'"
"Lincoln was inspired by this deep religious sense:
'That this nation, under God, shall have a new birth of freedom, and that government of the people, by the people and for the people shall not perish from the earth.'"
You may ask why the credit union should care about religion or morality. In my humble opinion, if we lose the moral and ethical fiber that built our great nation it is increasingly difficult, if not impossible to build a better financial future. Just as JFK challenged us in his inaugural speech, we are now challenged to decide what kind of future we leave to our children and grandchildren.
Have a Safe and Happy 4th of July! » top « •
Saturday, October 18, 10 a.m.-4 p.m.
As an MVFCU Member, you are most likely familiar with our Annual AVIS Sale that takes place every September. Well, we are excited to announce our First Annual Snowsoon Event happening Saturday, October 18, from 10:00 a.m. to 4:00 p.m., at the MVFCU Seward Meridian Community Office.
With an MVFCU Signature Holiday Loan
Instead of charging holiday gifts to a high-interest credit card, consider applying for an MVFCU Signature Holiday Loan. Save yourself some cash by heading to MVFCU. We offer rates far below the average credit card, allowing you to make the holidays bright, for less.
Is a Holiday Loan Right for You?
We never recommend spending beyond your means. As Scrooge-y as it sounds, “the holiday spirit” is no excuse for financial negligence. However, if you have to go over budget and don’t want to damage your credit score, a holiday loan from MVFCU is a good compromise. Stay away from similar loan products at check cashing and payday advance companies; these often have crazy-high APRs and stricter payment deadlines. Credit unions are not-for-profit and member-focused, which often allow us to offer the lowest rates in town, and the best financial counseling for low-income and middle-income families.
November 17-December 31
This year's Holiday Loan promotion will run from November 15 through December 31, and our official rates for this year will be announced early in November, so stay tuned to mvfcu.coop and our MVFCU Facebook page! » top « •
Guaranteeing Income in Retirement
What lies ahead for you? Whatever your retirement goals are, ensuring a steady stream of income during retirement will be an important part of the road ahead. Social security, how to use your 401(k), and other investments are common concerns during retirement income planning.
Join us for an informational workshop to address these concerns and learn how the use of annuities could create a guaranteed stream of lifetime income for you.
Help set your financial direction and learn the answers to questions like these:
- What sources of retirement income will you rely on?
- What retirement risks do you face now that you’re drawing on your savings?
- Which income strategies should you consider?
- How can you use annuities to guarantee an income for life?
This no-cost, no-obligation workshop is hosted by Jodie M Smith, the Matanuska Valley Financial Services Representative at Matanuska Valley Federal Credit Union. Space is limited, so make your reservations today.
All guarantees are based on the claims-paying ability of the issuer. Insurance products are issued by CMFG Life Insurance Company (CMFG Life). Representatives are registered, securities are sold and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. Investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members.