How-to-Guide on How Money Management Accounts Works
Posted On: March 5, 2025 by CSE Federal Credit Union in: Budgeting, CSE, Education
How-to-Guide on How Money Management Accounts Works
1. What Is a Money Management Account?
A money management account (MMA) is a type of bank account that lets you save money while earning a bit more interest (or dividends) than a regular savings account. It’s a good place to put money you want to keep safe and grow, but still have available when you need it. Generally, a MMA savings rate isn’t as high as a Term Share Certificate or a Certificate...
A How-to-Guide on Your First Credit Card
Posted On: March 5, 2025 by CSE Federal Credit Union in: Debit & Credit Cards, Education
A How-to-Guide on Your First Credit Card
Getting your first credit card is an exciting step toward financial independence, but it’s also a huge responsibility. At CSE, we want to set you up for success with these essential tips:
The Do’s
DO: Pay on Time, Every Time
Your payment history is the single greatest factor that makes up your credit score. Even one missed payment can hit you where it hurts. Consider setting up an automatic...
How-to-Guide on How a Checking Account (and Debit Card) Works
Posted On: February 19, 2025 by CSE Federal Credit Union in: CSE, Debit & Credit Cards, Education
How-to-Guide on How a Checking Account (and Debit Card) Works
1. What Is a Checking Account?
A checking (or share draft) account is a bank account that helps you manage and spend your money easily. You can use it to save money safely, pay for things and keep track of your spending. Checking accounts are perfect for everyday transactions like buying groceries, paying bills, and getting your paycheck deposited.
2. How Do You Use a Checking Account?
Deposit...
How-to-Guide on How a Credit Card Works
Posted On: February 5, 2025 by CSE Federal Credit Union in: Credit Cards, Education
How-to-Guide on How a Credit Card Works
1. What Is a Credit Card?
A credit card is a plastic (or digital) card that lets you borrow money to make purchases. When you use a credit card, you're using the credit union’s money, not your own. The credit union has allowed you up to a certain dollar amount (or credit limit, see below) to borrow. This is different from a debit card, which takes money directly from your checking account.
2. How...
