In 2025, consumers used cash for only about 14% of all payment transactions. With more and more Americans utilizing credit and debit cards for payments, it’s important to understand the difference between the two and which payment method is right for you. Learn more below about credit and debit cards, and then stop by a local branch of Midwest Community Federal Credit Union today to learn more about the variety of resources we have available to meet your financial needs. Credit…
Read More
In personal finance, one of the fundamental decisions individuals face is where to entrust their money – in a bank or a credit union. While both institutions offer financial services and are vital components of the economic infrastructure, they operate with distinct models and philosophies. Understanding the similarities and differences between credit unions and banks can empower consumers to make informed decisions about their financial well-being. Similarities: Financial Services: Both credit unions and banks provide a wide range of financial…
Read More
There are many advantages and disadvantages to using cash, debit, or credit for your spending needs. Here are some tips to help you decide when to pay with cash, debit, or credit. When should I use cash? Cash is still the best option for small transactions. It is also helpful when shopping at places that don’t accept debit or credit cards. Additionally, using cash can help you stick to your budget, as it provides a physical representation of how…
Read More
Available Balance vs. Current Balance Two of the most commonly confused terms used in the financial sector are “Available Balance” and “Current Balance.” Although these terms seem very similar, they refer to two very different things. Knowing the difference might just save you some money in fees. Your available balance is the amount you can spend right now. To determine whether you have enough money in your account to cover a transaction, we use your account’s available balance which is…
Read More
Answer: When moving your checking account to Midwest Community FCU, open the new account first, and then update any automatic transactions, direct deposits, or payment paperwork. If you are ready to move your account to Midwest Community, here’s how to make the transition a little smoother: Visit one of our branches and open the new account first. Gather a list of the automatic deposits and withdrawals scheduled to go in and out of your old account each month. If you have any…
Read More
