Keep up to date on our latest news and announcements.
Why Would a Scheduled Mortgage Payment Change?
September 20, 2023
Annual Tax and Insurance Account Disclosure Statements and Private Mortgage Insurance Disclosures can
be confusing for new and seasoned homeowners alike. A mortgage escrow account is where part of your
monthly loan payment is deposited to cover some of the costs associated with home ownership.
It’s the night before the interview. Your outfit is all laid out, your resumé is hot off the press and
you’ve Google-Mapped your route. You’ve done your company research and you’ve practiced answering the
tough questions. You are perfectly prepared—and you still feel like a nervous wreck.
That’s because, although we’re generally pretty good at anticipating and preparing for external
challenges, we tend to be somewhat less great at anticipating internal challenges.
What Should Be On My Financial To-Do List This Spring?
May 5, 2023
Let's review some ways you can improve your money management this time of year. As you sift
through the junk in your home, do the same for your finances. Review your budget to cut extra expenses
that are cluttering it up, like subscriptions you don’t use or upgraded apps you don’t need.
We’re excited to introduce David Shadburne, as our new Chief Executive Officer and President of MidWest
America Federal Credit Union. He has moved here from the Louisville, KY area and we asked him to share
some information about himself so the membership could get to know him a little more.
On March 1st, our Identity Theft Coverage product was upgraded from Ultimate ID® to
Ultimate ID® Plus at no additional cost (still
$5/month) to our members. All of the existing protection services PLUS a number of upgrades are included
in the new plan.
The federal government takeover of California-based Silicon Valley Bank [SVB]
($205 billion assets) on Friday was the second largest U.S. bank failure, and Sunday’s failure of New
York-based Signature Bank ($110 billion assets) was the third largest. These banks focused a lot on
technology start-ups and cryptocurrency respectively. MidWest America Federal Credit Union’s members
should know that we are a safe place to save money.
Now is a great time to get a copy of your credit report and go over it with a
fine-toothed comb. It’ll help you keep on top of your finances, let you know if you should refinance
your debt at a lower interest rate and give you an idea of how to use your upcoming tax refund (if you
are getting one) this year.
holidays are over, and if you’ve gone over budget with your spending, it’s time to deal with the
aftermath. Instead of living in a financial deficit, take steps to repair your budget as soon as the
last guest leaves.
how you can get your budget back on track for the new year.
Everyone loves a gift card for their favorite retailer or restaurant. It’s like getting money to spend
in any way you please! Unfortunately, scammers also love gift cards, but for all the wrong reasons: They
often use gift cards to pull off scams. Here’s what you need to know about gift card scams and how to
With inflation at record highs, many Americans are finding it difficult to stick to a budget. After
all, when groceries have leapt in price and household staples can be double, or even triple, what they
cost just a year ago, how can the same amount of money get you through the month?
Sticking to a budget during times of high inflation is challenging – but not impossible. Here are five
ways to budget while in times of inflation.
Let’s take a deeper look at what the current economic circumstances mean for the average consumer as
well as steps you can take to protect your investments and manage your money in the most optimal
It's A Money Thing - Financial Education For All Ages
July 7, 2022
When our Growing Up MidWest club began we looked for content for our oldest youths in the program and
came across It’s A Money Thing. In this series of short videos, viewers join main character Jen
on her journey to understand everything there is to know about money.
Ahh…summer! The season of flip-flops and sunscreen, of lemonade and baseball games. What’s not to love
about summer? Unfortunately, though, this time of year is also the season of overspending for many.
Being a homeowner can be an
extremely rewarding experience and adding your own personal touch to your home gives you a sense of
pride and individuality. By making updates to your home, you’re not just making your life better in
the short term. You’re also making an investment in your future.
Phishing and other forms of online fraud are becoming more and more prevalent in daily life. Recently,
one of our very own members came across a phishing attempt that almost cost a sizeable amount of money.
Door-to-door scams are among the most common crimes against people 60 and older. Why so? Retirement-age
folks are more likely to be home to answer the door during the day. Usually raised to be polite,
they're less likely to slam the door. And when scammed, they're less likely to report it to
police or other authorities.
We’ve all heard the term Phishing before. Phishing typically occurs in an email or text where a scammer
tries to get you to give them your information. They may ask you to click a link that seems legitimate
and enter account information. Sometimes the page contains other security risks. However, now, we’re
seeing scammers with a new type of phishing: the “Thank You for Your Payment” Scam.
At the end of 2020, the US government approved a second round of stimulus deposits, which many of us
received at the beginning of this year. Some haven’t received their funds yet due to various delays and
with the possibility of yet another round of stimulus deposits still ahead, we wanted to take the
opportunity to educate you about how to track those stimulus deposits.
True Tales from the Credit Union - Unexpected Protection
By: Kristi Hart December 28, 2020
When sorting through my weekly stack of mail on Saturday, I found myself shredding solicitation after
solicitation. The last envelope in my stack stopped me in my tracks. It was an actual debit card issued
in my name. The debit card was issued by a national bank and was the result of an unemployment claim
filed in Ohio in my name.
Recently, a member called with a mortgage question and I felt our discussion may be helpful to other
members who have closed mortgages with MidWest America. When we close a 1st mortgage, other
companies use the basic public information of the loan and try to send mail offers for life insurance
coverage on the mortgage loan (see Fraud Blog – Part 4 for
more details). They use our name and/or logo to make it appear to the member that it is something WE
2020 has been a year unlike any other for most of us. It’s been a year where steady industries have
stopped altogether, where millions have lost jobs and/or wages and where people have lost loved ones to
a disease that has made the whole world stop and take notice. In 2020, we’ve had to change the way we
As the COVID-19 pandemic continues, scammers are finding new ways to reach out to potential victims.
We’d like you to be informed and on-guard against those seeking to obtain your personally identifiable
information. The Office of Inspector General has recently published information alerting small business
owners of fraud attempts during these economically difficult times.
Freddie Mac recently contacted us about a scam where homeowners get a phone call that appears to be
coming from “Freddie Mac” – but the caller is an impostor as Freddie Mac does not directly
contact homeowners. This scam is known as spoofing.
Scammers are known for taking advantage of people by using fear and the recent pandemic of Coronavirus
(COVID-19) is no different. The outbreak is an unprecedented global event that is inspiring all sorts of
people to cash in on the fraud. Here are some examples we’ve found and ways you can protect yourself.
Congratulations!!! You have recently closed a mortgage. Maybe it is on your first home? Maybe it was a
refinance to save you interest or get cash out for that remodel project? Whichever your reason for a
mortgage, it can open you up for solicitation from other companies.
Electric Legacy: The Story of General Electric in Fort Wayne
By: Greg Mohr February 21, 2020
On behalf of our members, MidWest America FCU is proud to be the title sponsor of the upcoming PBS
special "Electric Legacy: The Story of General Electric in Fort Wayne." This new
documentary production from PBS Fort Wayne, will take the viewer on a journey through 140 years of Fort
Wayne history, connecting people, places, and events in American history.
One of our goals as a Credit Union is to help any and all members who may need assistance during
troubling times. MidWest America wants to be there for you, our members, and we have unique assistance
programs in place that can be individualized for each member in need depending on the circumstance.
Have you ever found yourself wanting to use a Debit Card for an online purchase, but were unsure of the
seller and afraid to give out your full card number? Or you’ve already had your identity stolen and
you’re leery of giving out your new card number?
4 Questions to Answer Before Using Equity to Fund Home Improvements
By: Kristi Hart April 25, 2019
Being a homeowner comes with a constant need for repairs and maintenance on your home and sometimes
funding these repairs can leave you looking for another way to pay for them. I see offers all the time
using creative financing to use the value of your home to pay for a new pool or new kitchen, but is it
really a good idea? Using the equity in your home to fund home improvements is generally a great idea as
long as you keep these 4 things in mind.
You hear about all kinds of scams on the news. The National Credit Union Administration (NCUA) says
that the number of fraudulent wire transfer scams reported to the FBI’s Internet Crime Complaint Center
increased by 480% in 2016 and was reported in all 50 states.
It’s tax refund time again. Whether you’re planning to take a special vacation, paying off bills or
just saving for a rainy day, here are a few tips to remember regarding refunds that are direct
8 Things to Consider Before Opening a Checking Account
By: Emily Jones July 19, 2018
When the time comes to open a new checking account the best thing you can do is research. These
questions will get you thinking about what you want from your financial institution and what they can
Fraud is a constant risk and increasing in frequency. Odds are you or someone you know has had someone
attempt to scam them or may have even succeeded. There are many types of fraudulent activity but today
I’ll be discussing two types of fraudulent scams: Sweetheart Scams and Phishing Attacks.
This is the first part in a new multi-part series of blog posts about fraud. We want to arm you with
the knowledge to prevent it because the more people that are aware of fraud, the less they will fall
victim to it.
There has been a lot of criticism in recent years over savings interest rates. Some of us remember when
1% was low for a savings account. Unfortunately, even as the economy slowly improves, rates are unlikely
to rise very high. A better understanding of rates will help you be more financially successful.
February is here and that means most people are getting a start on their taxes or at least starting to
think about it. Did you know, according to the IRS, 8 out of 10 taxpayers get their income tax refunds
via direct deposit? Which makes now a great time to confirm your account number with MidWest America to
make sure your refund is going into the right share and account.
With the New Year a couple of days away, now is a great time to start thinking about what goals you
want to accomplish in 2018. There is no question that having goals is important. Without them, what
would we have to strive for? But what comes before the flag on top of the mountain—the journey.
As the end of 2017 approaches, it’s a wonderful time to start organizing your financial paperwork and
to reconcile your statements for tax season and beyond. Are you a little lost about what to do with your
statements or how to reconcile them? We’re here to help get you organized for 2018!
For many, spending extra money during the holiday season is as inevitable as paying taxes. For me
personally, I get much more excited about giving gifts than I do about receiving them. While there is a
lot of joy in giving gifts, it is not as much fun if you're spending more than your normal budget
“No one is useless in this world who lightens the burdens of another.” Charles Dickens
Sometimes I have days when the hustle and bustle of life gets to me and makes the efforts I put in feel
insignificant or useless as Dickens puts it. The daily routine starts to feel draining, like I’m just
going through the motions only to start over the next day and do it all again.
It’s here! Christmas Season! Okay, we all know that Christmas season shouldn’t technically start until
after Thanksgiving, but as consumers, we are already out looking for those good deals to get our family
and friends come December 25th.
Over my years of working at the credit union I’ve had numerous people say they don’t keep money is
their checking account because if it is there they will spend it. I once had a friend ask me how I stay
disciplined. A lot of it I can draw comparisons to when I wrestled in high school. It’s a lifestyle.
The theme for International Credit Union Day 2017 is “Dreams Thrive Here,” and MidWest America wants to
be the bridge that allows people to achieve their biggest dreams in life. Whether that’s a new car, your
own business, a college education, a retirement RV, your own home or anything really.
My name is Greg Mohr and as President/CEO of MidWest America Federal Credit Union, I am very pleased to
be writing the first post for our new blog. It gives me a chance to give the first impression of the
great things to come from MidWest America both in our blog and our Credit Union.