Many say a picture is worth a thousand words, but at Mountain America Credit Union one picture could be worth much more. Mountain America has just launched MyBalance Transfer, an innovative online and mobile product that allows members to reduce their interest payments with one quick photo.
Using the MyBalance Transfer free calculator, members can determine what level of savings they would see by transferring a loan to Mountain America. When a member has a loan with another financial institution with a higher interest rate than Mountain America offers, they are empowered to save money by transferring their balance to one of their existing lines of credit at Mountain America. All the member has to do is take a picture of their payment stub and Mountain America does the rest, which includes sending payment to their prior financial institution.
"Mountain America's vision is to help our members achieve their financial dreams," said Sterling Nielsen, president and CEO of Mountain America. "One of the best ways we can accomplish this is to help them reduce the amount of cash they spend on interest payments. Over the past year, we have saved our members more than $44 million in interest savings by rescuing their loans from higher rates at other institutions. MyBalance Transfer makes it even easier for members to take control of their financial situation and enables them to make changes that will positively impact their fiscal health."
Members can transfer complete or partial loans of up to $10,000 to their existing lines of credit, such as a Mountain America credit card, revolving signature loan or home equity line of credit. In order to qualify, members should have at least $1,000 of available credit. There is no balance transfer fee to take advantage of this member benefit.
For more information, check out the Mountain America mobile app or visit macu.com.
About Mountain America Credit Union Mountain America Credit Union has more than $4.1 billion in assets and serves more than 495,000 members, wherever they are, through online and mobile banking, 82 branches in five states, and provides access to more than 30,000 ATMs and 5,000 shared-branching locations nationwide. With roots dating back to the 1930s, Mountain America offers a variety of financial products and services for consumers and businesses, including savings accounts, auto loans, checking accounts, mortgage loans, business checking, student loans, SBA loans and retirement options. Visit www.macu.com for more information.
Media Contact: Rachel Langlois (801) 325-6174 Email Contact
SOURCE: Mountain America Credit Union