External Site

You are leaving Member One's website. The credit union is not responsible for the content of any other website. The privacy and security standards of other sites may differ from those practiced by the credit union. You should review the privacy and security policy of any site before providing any information.

Proceed Cancel
Attention Members: Be aware of scammers texting, calling, or emailing, pretending to be from Member One, asking for your account or card number, asking for a code or password, or asking you to click on a link. Sometimes it even looks like a Member One phone number -- NEVER give out passwords, codes, or your personal information over the phone or be pressured to click on a suspicious link. Protect yourself and please call us directly at 800.666.8811 if you have any questions or concerns.
Finances January 10, 2023

What to Know about Debt Management

Share

Having to pay back a loan over time is no big deal if you know what you’re doing.

Financially savvy people have a plan for debt that saves both time and money. They save time because they pay back debts more quickly, and they save money because that plan allows them to save the interest that might accrue if they let the debt go on and on. They know that paying the minimum payments each month keeps their debt in good standing, but paying more when possible saves them big over time.

You need to have a solid plan to pay down your debts. Setting specific goals, maximizing your payments, and adhering to your plan will get you out of debt faster and even build your credit. After all, your history with credit, reflected in your credit report, shows future creditors how well you can handle the debts you’ve had.

There are a couple of plans of attack that work wonders on your debts, which you can learn all about in our free online course “Debt Management.” Member One offers comprehensive online educational resources to help you make smart financial decisions.

Visit our Financial Education Center to learn more about creating and following budgets.

You May Also Like

Adobe Stock 255859812
Business
Benefits of Separating Personal and Business Finances

That starts with your finances. Whether you’re a sole proprietor, an LLC, or an independent contractor, the last thing you want are murky numbers. Here are five reasons you should create a clear separation between your business and personal banking.
Two young women withdraw cash from atm 978b8d064138018a1dfad71b9882dd21
Finances
What to Look for in a Checking Account

Opening a checking account might not exactly be something you get excited about, but it may be high time to give this workhorse of your financial life some deeper thought.
Adobe Stock 136083130
Finances
Term-Life Insurance—An Easy Explanation (You're Welcome)

Term-life insurance is named so because it only covers you for a specified term, typically for 20 or 30 years. The main point of life insurance is to financially protect your loved ones in the event of your death.
View More