It’s Time to Celebrate Our Members’ Financial Wins!
When most members visit our branches or call into our call center, they're mainly looking to take care of their everyday banking tasks. However, thanks to our Member Advocates, we're able to transform these routine transactions into major wins and savings that go beyond what our members initially reached out to us for.
Life is about more than just money, and that's why banking should be about more than just transactions. It should match your values and tap into the deeper emotional significance behind your financial decisions and your aspirations.
Building a strong relationship with your finances is important. We want you to feel confident about your financial decisions, to ask questions, understand the ins and outs of your finances, and get clarity about how to achieve your financial goals.
Let's celebrate the financial successes some of our members experienced by collaborating with our Member Advocates and engaging in those important conversations, as showcased in the stories shared here.
From Ordinary to Extraordinary: A Routine Visit Sparks a Family Financial Revamp!
Upon entering the branch for a routine transaction, Brenda was warmly welcomed by Christ Rodriguez, our Member Advocate. True to the Members Choice way, Christ engaged in a friendly chat about her day, embodying the warmth and personable approach we're known for.
It was in this moment that Christ noticed that Brenda could save time each month with a simple step—setting up an automatic payment for her auto loan, especially since she lives almost an hour away from the branch. Grateful for his help, Brenda shared this story of kindness with her husband, Rafael, who also needed financial services.
During that visit, Christ took the time to understand Rafael’s needs and recommended a high-yield Members Choice Complete Checking™ account to Rafael. Chris explained how he could benefit and earn money just by depositing his paycheck in the account each month, and the perks of getting his direct deposit paid two days early with our Early Pay feature.
Looking back, Brenda remembered how they first came to know about Members Choice Credit Union six months ago when they needed to get a car loan. At the time, they didn’t know much about their financing options, but were tired of being disappointed by big banks where their money just sat in a checking account without earning anything.
Discovering they could earn money with a Complete Checking account was exciting for them and something they hadn’t experienced with their previous bank. They loved the idea of getting paid two days earlier to make managing their bills easier and more organized. Plus, earning rewards for their everyday spending and lower loan rates helps them add more money into their monthly budget.
Brenda even plans to open her children their very own Student Saver Checking accounts. She wants them to start learning about money early on, to help them prepare for the future.
With the help of Members Choice and convenient online tools, Brenda found a financial partner that prioritized her family’s needs and offered solutions that matched her family's lifestyle and daily routines. Extraordinary indeed! Thank you Brenda for sharing your personal story with us!
“Credit unions are different than banks. We're personal and really care about each member and provide solutions that fit their needs, wherever they are in life.”- Christ Rodriguez, Members Choice
There's a misunderstanding about credit unions—some think you need to work for a certain company or organization to join. Our open charter means almost anyone can join, regardless of where they live or work in the Greater Houston area. Whether you visit a local branch or apply online, it's easy to join!
Redefining Debt: A Member’s Journey from Bill Payer to Debt Slayer
Elijah Hunt, our Member Advocate, helped a couple get approved for a personal loan to bring together their debts and get them paid down more quickly. They had debts spread across 11 credit cards, all charging high interest rates. Because they owned a home, Elijah arranged the personal loan as a HomePlus Unsecured Personal Loan, which cut their interest rate in half from 25% to 12.9%—allowing them to pay more monthly against what’s due instead of it all going to interest fees. This financial win lowered their monthly payments by $400!
Managing all those separate credit cards caused them stress, so they were relieved to pay most of them off and only have one payment to worry about.
In similar situations, many people worry about loan approval. However, credit unions are skilled at navigating the rules to assist borrowers, often securing better rates than individuals can find on their own.
Discounts are available based on factors like how long you’ve had your mortgage and if you have a car loan. Eligibility for a HomePlus loan unlocks additional benefits, although it's important to know it's not a home equity loan—it's simply a perk for homeowners.
This couple also enrolled in our Helping Heroes Savings Program—a program for community heroes which offers a 1% discount on Unsecured Personal Loans and a .50% discount on Auto Loans. By consolidating their loans their credit score is now on the road to recovery!
A Long-Time Member Makes New Money Moves
Whether you're new to Members Choice or have been with us for more than 20 years, there's always something new to discover. Recently, a member who has been a member for 21 years found out about our latest Certificate of Deposit (CD) high-yield rate offers. She also learned that she could increase her monthly earnings by signing up for a high-yield checking account.
Eva Coronado, a Member Advocate Team Lead, spoke with her and found out she had her extra “cash-cushion” money just sitting in a Chase bank account, not earning anything. When the member found out she could earn extra money, she decided to move her money over to a Members Choice 8-Month Promotional Rate CD Account. This means that after 8 months, she can take out her money and will have earned over $2,000 to use however she likes, whether it is spending or saving toward her future goals!
It’s Time for Credit Union Fact Check!
Think you know everything there is to know about credit unions? Think again! From the stories of these members below, you'll notice how easy it is to develop misconceptions about credit unions. But let's clear things up by separating fact from fiction and setting the record straight on these common credit union misconceptions.
FICTION : I must drive to the credit union to make an ATM withdrawal.
FACT : I can use the AllPoint Network to access convenient and fee-free ATMs.
A member did not have any Members Choice ATMs nearby his home and was about to close his account as being near an ATM was important to him. However, he found out that with his membership he has access to over 50,000 fee-free ATMs through the AllPoint ATM network. These ATMs are in convenient locations like gas stations, grocery stores, and corner store pharmacies.
Plus, with a Complete Checking account, he gets up to $25 refunded on out-of-network ATM fees every month, for those times when traveling or not near a network ATM.
FICTION : I must pay a large minimum to open an account.
FACT : Accounts at Members Choice only require a $5 opening deposit to open a membership.
A member walked into our branch, curious about what was needed to become a member. He was surprised when he learned that our accounts were free and only required a $5 opening deposit. We reassured him that he did not need to maintain any specific balances and that our checking and savings do not have minimum balance fees. Having dealt with a bank where fees seemed to be around every corner, he decided to open a checking and savings account while setting up direct deposit to officially close out the account at his bank.
FICTION : All checking and savings accounts are the same no matter where you bank.
FACT : Depending on the financial institution you choose, you can get more benefits.
A member entered our branch wanting to open a regular checking and savings account. However, we suggested considering a high-yield checking account instead, especially since she planned to set up direct deposit. This surprised her because she did not know checking accounts could earn money. She had never heard about earning money from interest on the account before, because her previous financial institution never explained it.
We also explained the several types of savings accounts she could open in the future, like a Maximum Money Market™ account or a Certificate of Deposit, which are better for earning more when you have more money to deposit.
We stressed the importance of asking questions and knowing what options are available at any financial institution. Financial knowledge goes beyond opening a basic account and leaving your money there when there are so many more options at your fingertips.
Doing Good
On April 20, 2024, Members Choice Credit Union transformed into a bustling fair ground, as families gathered for a day filled with fun, financial literacy, and community engagement at the Financial Family Fun Fair. Attendees were able to experience carnival games, sign up to be a blood donor in partnership with Gulf Coast Regional Blood Center, and donate to a food drive sponsored by Katy Christian Ministries a social service non-profit serving Katy/West Houston. A homebuying seminar was also part of the attractions, offering adults valuable information as they begin their homebuying journey. Our next Members Choice Mortgage Homebuying 101 event is on June 8, 2024 - Sign up here!
We thank everyone who joined us for this unforgettable event. We're thrilled to keep supporting our community with financial education and resources because we're passionate about helping as many people as possible reach their unique goals—we can't wait to see you again!
Well, that was fun. See you again soon!
We're excited to continue sharing stories of positive banking experiences with our members as they make strides toward living their best lives. It's clear that even small adjustments to your finances can make a significant impact on your overall well-being and assist you in reaching your financial goals. We look forward to supporting you on your journey toward financial wellness, tailored to your individual needs.
Got some thoughts to share? We'd love to hear them! Contact us online with your feedback and suggestions. Tell us what you'd like to see in our upcoming newsletters. Until next time, take care!