Mutual Matters- Summer 2016

Message From the CEO

It’s hard to believe we are already midyear! It has been a full year since the merger with Secure First Credit Union and everything is going extremely well. Membership has grown, loans are up, and we have more traffic coming into the new branches. We have enjoyed getting to know the new members and had a great time at the branch celebrations.

Mutual Savings Credit Union continues to work hard to provide the best service and products possible for our members. We have launched a new smartphone app that is a free download and easy to use. Recently, we launched the new EMV chip debit cards that increase protection against fraud and add an extra layer of credit card protection for our members.

It has been an excellent year so far. I look forward to see what the next two quarters bring for the credit union. The MSCU staff continues to work hard to make Mutual Savings Work For You!

Sincerely,
Douglas L. Key
CEO/President
Attorney at Law

New EMV Chip Cards

According to www.creditcards.com, credit/debit card fraud has doubled in the past seven years in the United States. Due to that fact, credit card companies and financial institutions have been working diligently to try and alleviate some of the fraud by making it much harder for criminals to steal card information. Thus, Mutual Savings Credit Union is now offering EMV chip cards.

What makes an EMV chip card different from the current magnetic stripe card? EMV chip cards are much safer than the traditional magnetic stripe cards. Why… because EMV chip cards have a computer chip located in them that creates a unique transaction code that cannot be used again. This differs from the current magnetic stripe card where someone could copy the magnetic stripe and easily duplicate the data over and over because the information doesn’t change.

EMV cards will not completely stop fraud from happening. However, it will make it MUCH harder for criminals to profit from any information they may steal from a card. For instance, if a hacker stole a chip card’s information from a point of sale the typical card duplication wouldn’t work because the stolen transaction number created in that particular point of sale wouldn’t be usable again and the card would be denied.

Mutual Savings Credit Union began issuing EMV chip cards to our members back in April. So far it has been a success! All new debit cards issued are EMV cards. ATM cards do not have chip capability. And, if our members request to have a chip card before their current card expires, MSCU will happily order a new card.

Dream Car. Dream Loan. AskAuto App.

Shopping for a car can be a complicated, stressful experience. What if you could find help to make the process easier? Now you can, with our new AskAuto app for your smartphone or tablet.

The AskAuto app is a powerful research and lending tool that can help you shop for your dream car and apply for a great loan thwrough Mutual Savings Credit Union.

The app is easy to use. Let’s say you’re out shopping for vehicles on Sunday afternoon and see three cars that you like. Simply scan the VINs into your mobile device to get the average retail cost, EPA mileage estimates and make notes about each vehicle. The AskAuto app saves the information so you can compare later.

While you’re on the lot, we can even send you messages about available loans or dealerships we have good partnerships with – giving you good, trustworthy information right when you need it.

Once you’ve decided on your car, apply for your loan anytime, anywhere using your smartphone or mobile device. Just scan your driver’s license (not available in all states) and let the AskAuto app do most of the work for you. Your loan application will prefill your personal information and the vehicle information you saved earlier.

With the AskAuto app, you’ll stay organized, save time and have information to make an informed purchase right at your fingertips.

Want to take the AskAuto app for a spin? Download today at http://askauto.loanliner.com/market. Be sure to select Mutual Savings Credit Union on the app’s startup screen.

Information provided by CUNA Mutual Group.

Focus Product: We Finance Fun

Summer is a busy time at Mutual Savings Credit Union! Many of our members have attended graduations, are spending time on the water and traveling on summer vacations.

Mutual Savings Credit Union is helping our members FINANCE FUN! We offer great loan rates and the application process is quick and easy. Members can apply for an auto loan through the new AskAuto app or through the MSCU website.

Personal loan applications are also available on the MSCU website. Sometimes a face-to-face with a branch manager or loan officer is the best choice. These discussions allow the member to review the best products to fit their need. To do that, members should call and schedule a time with a loan officer or branch manager to assure availability. Be sure to ask what documentation to bring to help speed up the process.

Another option for extra vacation or back to school funds is to refinance your mortgage or vehicle loan with Mutual Savings Credit Union. MSCU offers low interest rates and reliable, fast loans.

Here at Mutual Savings Credit Union, we want all of our members to relax and enjoy their vacations without the financial worry. Finance Fun through MSCU!