Financial Literacy

Never too Young to Learn How to Save

One of the most useful lessons to learn before adulthood is how to save and manage money. Members Credit Union has developed Savings Quest, MyFi Savings and MyFi Checking Accounts so that our younger members can start learning how to be responsible personal money managers – they just need a little guidance from mom or dad. To find out more about these accounts visit MyFi Savings.

Financial Reality Fair

To help educators teach their students about the importance of budgeting, Members CU sponsors Mad City Money, a financial reality fair that teaches students what it’s like to be an adult with a monthly salary, bills and a family to feed. Students are challenged to make purchase decisions for their entire family for one month without spending more than their monthly salary, all while saving and paying off credit card debt. To learn more check out these articles written about the program:

High School Students Get a Dose of Financial Reality from MCU

• Winston-Salem Journal – 1/15/2014

Educators who wish to work with Members CU to bring Mad City Money to their school should call Jon Hamby at 800-951-8000, ext 1140.

Financial Solutions for All Ages

Financial Solutions, a program by Money Management International (MMI), is designed to assist our members in reaching their personal financial goals. Whether your goal is to create a budget, buy your first home, get out of debt, or just educate yourself more on the topic of personal finance, the Financial Solutions program will help you. This new benefit is free for our members and includes:

1. Free Credit Counseling – Through confidential one-on-one counseling sessions, MMI’s certified credit counselors will help participants understand their overall financial situation, develop an effective budget and spending plan, and create an action plan for success. Personalized financial help is available over the telephone and online 24 hours a day, 7 days a week. Call 888 – 926 -9723.
2. Free Debt Management Assistance – When appropriate, counselors may recommend a Debt Management Plan (DMP). A DMP is designed to help the participant pay off his debt through a structured repayment plan. By working directly with creditors, MMI credit counselors work on behalf of participants in an attempt to lower interest rates, reduce monthly payments, waive late fees, and eliminate collection calls. This sensible financial solution reduces time for payoff, which can save participants hundreds or thousands of dollars in interest and fees. Ordinarily, DMP participants pay a monthly fee. We’re excited to announce that this is a free resource as part of our Financial Solutions partnership.
3. Free On-demand Financial Education – We also have access to a variety of financial education materials such as articles, videos, downloadable podcasts, eBooks, and worksheets. Visit our financial education website to access these resources.