Michigan First Credit Union: Your Trusted Financial Partner for Life

Overview

Michigan First Credit Union (MFCU) is a leading financial institution serving over 100,000 members across Michigan. Founded in 1924, MFCU has a rich history of providing exceptional financial services to individuals, families, and businesses.

MFCU is committed to building strong relationships with its members, offering a wide range of products and services designed to meet their financial goals. From checking and savings accounts to loans, mortgages, and investment options, MFCU has everything you need to manage your finances with confidence.

Why Choose Michigan First Credit Union?

1. Member-Owned and Operated

MFCU is not-for-profit and owned by its members. This means that our profits are returned to our members in the form of lower fees, higher interest rates, and enhanced services.

2. Exceptional Financial Products

MFCU offers a full suite of financial products and services tailored to meet your needs, including:

• Checking and Savings Accounts: Competitive rates, low fees, and convenient access to your funds.
• Loans: Personal loans, auto loans, home equity loans, and lines of credit to help you finance your dreams.
• Mortgages: Fixed-rate, adjustable-rate, and jumbo mortgages to find the right home loan for you.
• Investment Options: Certificates of deposit, money market accounts, and investment services to help you grow your wealth.

3. Personalized Service

MFCU prides itself on providing personalized service. Our friendly and knowledgeable staff are dedicated to understanding your financial goals and finding the best solutions for you.

4. Community Involvement

MFCU is actively involved in supporting the local community through donations, sponsorships, and volunteerism. We believe in giving back to the communities we serve.

Michigan First Credit Union Services

Checking and Savings Accounts

MFCU offers various checking and savings accounts to meet your everyday financial needs. Some of our most popular accounts include:

Loans

MFCU offers a wide range of loans to help you achieve your financial goals. From personal loans to home equity loans, we have a loan option that's right for you.

Mortgages

MFCU offers a variety of mortgage options to help you find the perfect home. Our experienced mortgage professionals will guide you through the process and ensure you get the best loan for your needs.

Investment Options

MFCU offers a range of investment options to help you grow your wealth and plan for the future. Our investment advisors can assist you in creating a personalized investment portfolio.

Stories and Lessons

Story 1: The Power of Saving

Jayden always wanted to buy a house, but he didn't have much savings. He joined MFCU and opened a Performance Checking account. He set up automatic transfers from his paycheck into his savings account and started to watch his money grow. Within a year, he had saved enough for a down payment on his dream home.

Lesson: Even small amounts of money can add up over time. Start saving today, no matter how small.

Story 2: The Importance of Financial Planning

Maria was a single mom with two young children. She had a stable job but often struggled to make ends meet. She met with a MFCU financial advisor who helped her create a budget and plan for her future. The advisor recommended a Money Market Account for emergency savings and a Certificate of Deposit for her long-term financial goals.

Lesson: Financial planning is crucial for managing your finances effectively and achieving your goals.

Story 3: The Benefits of Community Involvement

MFCU donated to a local food bank to provide meals to families in need. The bank used the donation to purchase food and essential supplies. Volunteers from MFCU also pitched in to distribute the food to families.

Lesson: Giving back to your community can make a positive impact and strengthen the bonds within the community.

Tips and Tricks

• Use a budgeting app to track your income and expenses.
• Set financial goals and create a plan to achieve them.
• Make regular deposits into your savings account.
• Consider using a line of credit** for emergencies or unexpected expenses.
• Take advantage of MFCU's online and mobile banking services to manage your finances conveniently.

Pros and Cons

Pros:

• Member-owned and operated
• Competitive interest rates on savings accounts
• Low fees on checking accounts
• Wide range of financial products and services
• Personalized service

Cons:

• Limited branch locations compared to national banks
• Some products may have higher fees than online-only banks

FAQs

1. What is the minimum opening balance for a savings account?

A: $5.00

2. Can I apply for a loan online?

A: Yes, you can apply for a loan online through the MFCU website.

3. Does MFCU offer student loans?

A: No, MFCU does not currently offer student loans.

4. What is the maximum loan amount for a personal loan?

A: $50,000

5. Can I lock in my interest rate on a mortgage?

A: Yes, you can lock in your interest rate for up to 90 days.

6. Does MFCU offer investment advice?

A: Yes, MFCU has investment advisors who can assist you in creating a personalized investment portfolio.

7. How do I open an account with MFCU?

A: You can open an account online, at a branch location, or by calling MFCU at (800) 843-6328.

8. What are the benefits of joining MFCU?

A: As a member of MFCU, you will benefit from competitive interest rates, low fees, personalized service, and community involvement.