News and Insights
Welcome to Mutual Security Credit Union's news and insights page where you'll find updates, tips, and tricks for your banking, borrowing, and financial planning needs.
Mutual Security Credit Union Press Release For Release January 14, 2019
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Fraud Protection | ID Theft Protection
Giving to a charity is a wonderful thing any time of the year, especially during the holidays. But as the holiday season approaches, and people increase their giving, scammers find more ways to take advantage of others’ goodwill.
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When you’re trying to save and manage your money, it can be tough to decide the right account to use. Savings accounts are ideal for funds you want to put away for emergency or special purposes, while checking accounts are the way to go for money you’ll spend. But, what if you’re looking for something that will help you save with the flexibility to spend?
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Community Giving | Veterans Day
Our branches may have been closed on Monday, November 12 in recognition of Veterans Day, but our staff was out in full force.
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Cyber Security | Fraud Protection | ID Theft Protection | Safety
Phishing—not to be confused with fishing—is an attempt, via fake emails, to fraudulently obtain sensitive information from a victim. Usually the message is disguised as a legitimate request for usernames, passwords, or banking information in order to deceive the recipient.
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If you’ve been keeping up with our blog series on green-energy alternatives, you should have a good understanding of what solar is and an idea of whether or not it’s right for you. But once you’ve determined if it makes sense for you to convert to solar energy, you might feel overwhelmed with the initial costs of installing the technology. I’m here to help you figure out if the costs outweigh any potential future savings.
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Cyber Security | Fraud Protection | ID Theft Protection
In today’s world, we’re connected to the internet all day long—at work, at home, and on-the-go via our mobile devices. And while this is convenient, it also provides hackers and other cyber-criminals with multiple channels to attempt to access our personal information. So in honor of National Cyber Security Month I’ll be sharing one tip per week to help ensure you have the knowledge and resources needed to stay safe online.
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Alternative Energy | Energy Efficiency | Solar
Homeowners all over the United States are opting to go solar. In fact, the U.S. Department of Energy reported that as of February 2016, the number of homes using solar energy hit one million. So if you’re thinking about going solar, you’re not alone.
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Alternative Energy | Energy Efficiency | Solar
Did you know that as of March 31, 2018, over 28,000 homes in Connecticut had gone solar? And installations are still on the rise, placing Connecticut among the top ten energy-efficient states.
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When it comes to saving, most of us start out with good intentions. We set a goal, make a plan, and then forgo our rainy day fund to splurge on the latest version of our favorite cell phone.
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For the fourth year in a row, our EVP, Hank Baum traveled to the Dominican Republic as part of a mission team that supports the Community in La Romana.
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On Friday, June 29, a team of seven employees braved the warm weather to volunteer at Boothe Memorial Park.
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Sometimes unexpected emergencies arise—like your car breaking down or your refrigerator calling it quits—and that normally means you're going to have to come up with some money. Many of us end up having to pull out a credit card, get a short-term loan, or borrow from a friend or family member. And while there’s nothing wrong with that, you can avoid paying extra in interest and the stress of monthly payments by setting up an emergency fund. Check out these four tips to help you prepare for life’s unexpected moments.
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Once you’ve established yourself as a homeowner, you might begin receiving information related to refinancing your home. And you may begin to wonder, what is refinancing and is it right for me? Simply stated, refinancing involves replacing your current mortgage with a new one that offers different rates and terms. The desired outcome is often to have more manageable monthly payments or to pay less interest over the lifetime of the loan. While reasons for refinancing vary, I typically find that homeowners only consider this when they see mortgage rates fall. And while lower rates are definitely something you want to look at, there are other times when refinancing can benefit you regardless of current rates.
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At one point or another most of us have been told we need to have a 20-percent down payment when buying a home. But with high amounts of student debt and other financial responsibilities, I see a lot of first-time homebuyers struggling to save that much money. The good news is that if you find yourself in the position of wanting to buy a home and not being able to save 20-percent, there are other options to consider. To help you navigate to the mortgage type that best for you, I’ve pulled together the pros and cons of the most common alternative—an FHA loan—as well as two other solutions that don’t require a 20-percent down.
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The springtime home-buying season has arrived! And if you’re in the market for a home, there’s no better time to start looking. During this season we see more houses go up for sale, which provides you as the buyer with more options to choose from. But before you start browsing Realtor.com or attending open houses, it’s important to get pre-approved for your mortgage to ensure you’re prepared to make an offer when you find your dream home. Regardless of whether you’re a first-time homebuyer, looking to move, or in the market for a second home, here’s a look at the top five things you need to do to get pre-approved.
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Auto Loans | Budgeting | Car-Buying
Presidents’ Day may be over, but we’ll continue to see auto manufacturer deals well into March—with some offers even rolling into April. The reason for this is simple—car dealers tend to see lower sales in January, and Presidents’ Day provides them with an opportunity to jump start the year. By adding excitement to a three-day weekend with auto promotions, they entice shoppers to their lots and are able to turn their sales around. And while this car-buying holiday season does provide some of the best annual auto deals, it’s still important to do your research ahead of time to ensure you aren’t blinded by flashy offers. You’ll also want to avoid these five common auto-buying mistakes to help maximize your savings.
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Fraud Protection | ID Theft Protection | Tax Season
You’ve got your W-2, or will soon, and you’re hard at work pulling together all your statements and receipts for tax season. But while you’re preparing to file your taxes, scammers are working on ways to cheat you out of your return. In fact, the Federal Trade Commission (FTC) has already started receiving complaints. To kick-off tax identity theft awareness week, and help you defend against fraud, we’ve got some insight into the most common scams, as well as how to protect your personal information, and what to do if you become a victim.
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From collecting receipts and determining your deductions to figuring out which form to fill out, tax season can be confusing. But you don’t have to go it alone! We’ve partnered with H&R Block to help take the anxiety out of doing your taxes.
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Last year, we announced that we were working on updates to our look and feel, and we're excited to unveil these improvements!
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Budgeting | Holidays | Savings
Toys catalogs have come in the mail, in-store displays promote the season’s top sellers, and my kids’ wish lists are growing daily. They’ve waited all year to give me their list of most wanted items, and now they’re hoping that I deliver.
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Holiday promotions and in-store displays may have been out since Halloween, but the shopping season doesn’t really kick-off until Black Friday. This is an exciting—and potentially overwhelming time—for shoppers, but the reality is that while we’re out looking for the best gifts and deals, scammers are looking for their next target. But that shouldn’t keep us from enjoying the gift-giving festivities.
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Budgeting | Holidays | Savings
Thanksgiving will be here next week! It’s the perfect time to reflect on what you’re thankful for and spend quality time with family and friends. While some may be wondering where this year has gone, most are dreaming about turkey, stuffing, and pie.
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Our branches may have been closed on Friday, November 10 in recognition of Veterans Day, but our staff was still at work.
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Holidays | Savings | Student | Travel
Halloween is over and the holidays will soon be here. And for many college students that means it’s time to start planning for the trip home.
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Community Giving | Holidays | Veterans Day
In honor of Veterans Day, we’ve partnered with Homes for the Brave in Bridgeport, Connecticut to collect much needed items for homeless veterans and their loved ones.
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Community Giving | Holidays | Veterans Day
In honor of Veterans Day, we’ve partnered with Save-A-Suit to provide former military with professional business attire to help them build the confidence needed to succeed.
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Financial Literacy for Kids | Halloween | Holidays | Money Management Skills for Youth
Costumes are being crafted, scary movies are playing on TV, and the smell of sugar is in the air—Halloween is almost here! And Jimmy Kimmel’s YouTube Challenge, “I Told My Kids I Ate All Their Halloween Candy,” isn’t far behind.
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