PRESIDENT'S MESSAGE

PRESIDENT'S MESSAGE

The most rewarding thing we do at Mountain America Credit Union is to help members achieve their financial dreams. Whether you are planning your next great adventure, looking to become debt free or establishing a business, Mountain America is ready to help by providing guidance and trusted expertise.
 

Prepare for the Road Ahead

We offer several savings products that can help you prepare for the future. One option is called a term deposit. A term deposit account features a fixed term with a higher dividend rate than a traditional savings account. This is a great way to save money for long-term goals. Our Term Deposit Plus account even allows you to start with a small $5 deposit and continue making regular deposits throughout the term.


If you are looking for a savings plan for healthcare or educational expenses, consider a tax-advantaged Health Savings Account (HSA) or a 529 Savings Plan. The 529 Savings Plan is an effective tool to help save for higher-education costs and build a better future for your children or grandchildren.
 

Financial Education

Mountain America is also committed to community financial education. We have recently partnered with Salt Lake County to give local communities more access to educational resources through the Mountain America Expo Center in Sandy, Utah. Along with our Financial Wellness program, we are offering quarterly classes designed to help you develop knowledge, life skills and confidence to manage money, reduce debt, build wealth and achieve your financial goals.


Mountain America’s educational classes cover a variety of important financial topics. Gain a better understanding of your credit report and credit score, learn how to avoid senior scams or decide what type of mortgage is best as a first-time homebuyer. Our classes cover everything from smart spending habits to saving and investing for retirement.


We are committed to providing you with experts who can help guide you forward on your financial journey. Think of us each step of the way.

Sterling Nielsen, President/CEO

April is national financial literacy month, and Mountain America is here to help guide you toward financial confidence. Get started by utilizing the following free resources. They’re available all year, not just in April, so you can proceed at your own pace.

Financial Success Series—Each quarter, we hold a Financial Success event at the Mountain America Expo Center in Sandy, Utah. The next event is April 19. Come learn how to build your credit score and avoid financial mistakes, among other topics. Details at macu.com/seminars.
Financial Literacy Magazines—We’ve partnered with Deseret News to bring you free magazines about money, finances, budgeting and more. Download your copies at macu.com/magazines.
Financial Pathways Seminars—Join Mountain America for a series of complimentary financial education seminars. Topics range from debt management to identity theft prevention. Learn more at macu.com/seminars.
Learning Center—Explore our online library of helpful articles, videos and calculators. We have sections for home, auto, retirement, youth, financial fitness and more. Get started at macu.com/financial-pathways.
Social Media—Follow us on social media, where we share money saving tips, financial information and all-around good advice. Watch our live videos every other Thursday on Facebook, where our financial experts answer your questions! Check us out here: Facebook, Instagram, Twitter and LinkedIn.
Mountain America’s financial specialists are also available to assist you in person. Feel free to reach out with questions by visiting any branch or calling the Service Center at 1-800-748-4302. Happy financial literacy month!

Speed is key in a booming housing market. With low inventory and rising prices, you’ll often see a house or lot listed one day and an offer accepted within a week or less. In this environment, you could miss out on the perfect property, if your finances aren’t in order.


Be ready to act quickly by following these tips:

Know Your Credit Score—Your credit score determines whether a lender will consider you for a mortgage. Ideally, you want to have a score in the mid-600s or higher. The best interest rates apply to borrowers with scores of 740 or higher. Access your credit score for free within the mobile banking app. Select FICO® Score* from the main menu.

► Get Preapproved—Having a preapproval letter means you know exactly how much you can borrow and what types of loans are available to you. It also shows sellers you’re serious about buying and helps speed up the closing process. Get started at macu.com/loans/home-loans.

Use the Right Tools—Quickly and easily apply for a loan with Mountain America’s streamlined mortgage process. Instead of a complicated application, you answer simple questions on a guided path. If you need help along the way, our mortgage specialists are only a tap or click away.

Call on the Right People—When you partner with Mountain America, you’ll have a team of mortgage specialists on your side, ready to act when you say the word. Feel free to schedule a no-obligation consultation by calling 1-800-277-7703.

*FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.

Many consumers have never heard of uninsured and underinsured motorist coverage, but this underappreciated insurance could make all the difference financially. If another driver crashes into your vehicle, you might expect their insurance to pay for the damage. But what if their coverage isn’t enough or they don’t have insurance? You could be left footing the bill, unless you have uninsured and underinsured motorist coverage.

Insurance products offered by Mountain America Insurance Services, LLC, are not a deposit, not an obligation of or guaranteed by any credit union, not insured by the NCUA, and in the case of life insurance, may go down in value. Purchasing of insurance products will not affect the extension of credit in any way.
WHY CONSIDER UNINSURED MOTORIST COVERAGE?

The sad truth is not everyone is a responsible driver. One in seven motorists are uninsured, according to the Insurance Research Council. Additionally, many drivers have only minimum coverage, which may not be enough to pay for all damages. With uninsured and underinsured motorist coverage, you can file a claim with your insurer if you’re in an accident caused by someone who does not have adequate insurance.

3 TYPES OF COVERAGE
Uninsured and underinsured motorist coverage come in three varieties:

1. Uninsured Motorist (UM) Insurance—This coverage will pay your medical bills if you’re involved in an accident with an uninsured motorist who is at fault. UM insurance will also reimburse you for lost wages.

2. Uninsured Motorist Property Damage (UMPD) Coverage—UMPD pays for vehicle damage caused by an uninsured driver. Generally, it also covers damage to other personal property such as your house or fence.

3. Underinsured Motorist (UIM) Protection—If an at-fault driver has liability insurance, but their limits don’t cover all damage to your vehicle, UIM insurance will pay the shortfall.
DON’T RISK YOUR FINANCIAL HEALTH

Make sure you’re insured, and learn how to protect yourself in the event of an accident with an uninsured motorist. Contact Mountain America Insurance at 1-877-276-7882. Receive side-by-side quotes from dozens of carriers at macu.com/insurance.

Annual Business Meeting
The Board of Directors is pleased to announce that the Annual Business Meeting will be held on Tuesday, April 17, at 6:00 p.m. in the auditorium of the H. Floyd Tanner building, located at 7167 South Center Park Drive, West Jordan, Utah. All Mountain America members are invited to attend.

Nominating Committee
Mr. Michael Allen, Ms. Diane Mansfield and Mr. Scott Burt have been nominated by the Board Nominating Committee to fill the positions available on the Board of Directors. The Supervisory Committee will oversee the Board elections at the Annual Business Meeting. 

www.macu.com

Federally insured by NCUA. Loans subject to credit approval.

Board of Directors
Scott Burt, Chair
Lynn Ure, Vice Chair
Charlie Fulks, Secretary
Bruce Reading
Diane Mansfield
Michael Allen
Sam Blundell
Julie Wray
Joel Steadman

Supervisory Committee
David Swan, Chair
Kelly Holt
Marla Spear
David Kwant
Matthew Taggart
 

Mountain America Corporate Offices
P.O. Box 9001, West Jordan, UT 84084

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Call Us:
Service Center 1-801-325-6228
Toll-Free 1-800-748-4302
Investments 1-800-540-7670
Mortgage Loans 1-800-277-7703
Business Services 1-888-845-1850
Student Loans 1-801-325-6574
Insurance 1-877-276-7882

Spring Newsletter—2018