Most banks are for profit corporations, so those bank fees and other profits go towards shareholders or owners. Credit Unions are different, and for those who haven't yet weighed the pros and cons, here's a chance as Michigan State University Federal Credit Union is in studio to share more about how they cycle their profits back to their members.
MSUFCU offers variety of dividend-paying accounts to fit customers' needs like Spartan Saver, IMMA, and Certificate. There's also a Name It Save It campaign where members can open a savings account or Certificate in ComputerLine and name it to symbolize a unique financial goal, such as Grand Canyon Trip, or Car Fund.
MSUFCU also has a mobile app, where members have free 24/7 account access and set up automatic transfers from checking to savings accounts. The app also features eDeposit, card lock, bill payment, and eAlerts.
For those looking for a way to turn their tax return into more money, anyone who sets up direct deposit of their tax return to a MSUFCU checking account will have a chance to win $1,000.
To find a location in West Michigan, visit msufcu.org.