By your 40s, you’ve likely built up some savings, paid down a few debts and started thinking seriously about long-term wealth. But where does that put you on the financial ladder — solidly middle class or creeping into upper-class territory? Discover More: What Class Do You Actually Belong To? The Income Breakdown Might Shock You Try This: 6 Subtly Genius Moves All Wealthy People Make With Their Money Let’s break down what the numbers say about the net worth it takes to be considered upper class in your 4 ...

SANDY, Utah, Nov. 25, 2025 (GLOBE NEWSWIRE) -- Mountain America Credit Union contributed $6,000 to the Ogden School Foundation through the 2025 Mountain America Sacks initiative. This marks the third consecutive year the credit union has partnered with the Weber State University (WSU) football team for this program, pledging $250 for every defensive sack—funding that directly supports students and families experiencing food insecurity. On November 22, Mountain America presented a $6,000 donation to Brynn Mu ...

Core Insights - The Federal Reserve has cut the federal funds rate three times in 2024 and recently made a second cut in 2025, leading to a decline in deposit interest rates, including money market account (MMA) rates [1] - The national average rate for MMAs is currently 0.59%, while top high-yield accounts offer rates exceeding 4% APY, significantly higher than the national average [2][9] Group 1: Money Market Account Rates - The importance of comparing MMA rates is emphasized, as interest rates vary widely among banks, particularly online banks and credit unions, which often provide competitive offers [3][4] - Online banks have lower overhead costs due to their web-based operations, allowing them to offer higher deposit rates and lower fees [4] - Credit unions, as not-for-profit financial cooperatives, also provide competitive rates and fewer fees, although membership requirements may apply [5] Group 2: Features and Considerations of Money Market Accounts - Money market accounts are suitable for short-term savings goals, offering higher interest rates than regular savings accounts and easier access to funds compared to certificates of deposit (CDs) [5][7] - These accounts are considered low-risk and are FDIC-insured up to $250,000 per depositor, per institution, making them safer than money market funds [6] - Many MMAs require a minimum balance to earn the highest advertised rate, and failure to maintain this balance may result in fees or lower rates [6] Group 3: Access and Usage of Funds - While MMAs allow access to funds, they may limit the number of transactions per month, which is a consideration for those needing frequent access [7] - MMAs are recommended for individuals who want to earn more interest than a regular savings account without locking funds in a CD and can maintain the minimum balance to avoid fees [7][8]

Core Insights - The trend of credit unions acquiring banks is gaining momentum, although it is unlikely to match the record of 22 acquisitions in 2024 [1] - Recent acquisitions include GECU Credit Union acquiring Bank of the Southwest and Community First Credit Union acquiring First Southern Bank, indicating a resurgence in credit union-bank transactions [2][3] Industry Reactions - The Independent Community Bankers of America expressed strong opposition to these acquisitions, calling for Congress to impose taxes on credit unions with assets exceeding $1 billion, as they currently enjoy a federal income tax exemption [3][4] - The community banking sector is concerned about the negative impact of these acquisitions on local communities [4] Future Outlook - Experts predict that credit unions will continue to acquire banks, with expectations of at least one more acquisition announcement in 2025 and robust merger activity in 2026 [5][6] - Michael Bell, a legal expert in financial institutions, noted that the deal flow for credit union-bank transactions is expected to remain strong [7][8] Financial Performance - The Bank of the Southwest reported a net income of $2 million for the first half of 2025 and $4.2 million for all of 2024, while GECU's profit for the first nine months of 2025 was $46.2 million [9][11] - Community First's acquisition of First Southern Bank is aimed at enhancing its commercial lending capabilities and expanding its market presence, with projected assets of $3.3 billion post-acquisition [9][10]

Core Insights - eGain Corporation has been selected by OCCU || Oregon Community Credit Union to implement its AI Knowledge Hub and AI Agent software to enhance service delivery and member experience [1][3]. Company Overview - OCCU is a not-for-profit financial cooperative with over $3.5 billion in assets, serving approximately 284,000 member-owners [7]. - The credit union aims to modernize its knowledge management system to address operational inefficiencies and improve member service [2]. Solution Details - The eGain AI Knowledge Hub will support over 700 users, including contact center representatives and enterprise users, through a unified platform [3]. - The solution is designed to optimize authoring and governance procedures, enhancing compliance and operational efficiency while improving user experience [4]. Expected Outcomes - The implementation of eGain's solutions is anticipated to increase efficiency by allowing technical writers to focus on strategic initiatives and reduce onboarding time for new agents [4]. - The unified knowledge management system is expected to empower service teams with instant access to trusted answers, thereby improving employee productivity and member experience [5].

Core Insights - The national average HELOC rate is currently 7.64%, serving as a benchmark for home equity line of credit interest rates, although introductory rates may be significantly lower [1][2] - Homeowners have over $34 trillion in home equity, the third-largest amount on record, making HELOCs an attractive option for accessing equity without selling homes [3] - Lenders determine HELOC rates based on an index rate plus a margin, with the prime rate recently at 7.00% [4] HELOC Rates and Trends - The average weekly HELOC rate has decreased by 42 basis points since January 2025, indicating a trend of declining rates [2] - Introductory rates can be as low as 5.99% for the first 12 months, but will convert to variable rates thereafter [8] - Rates can vary widely among lenders, ranging from nearly 6% to as high as 18%, depending on creditworthiness [11] HELOC Mechanics - A HELOC allows homeowners to access their home equity without giving up their low-rate primary mortgage, providing flexibility in borrowing [6][7] - Borrowers only pay interest on the amount they draw from their credit line, making it a cost-effective option for accessing funds [9] - Monthly payments on a $50,000 HELOC at a 7.50% interest rate would be approximately $313 during the draw period, but rates are typically variable [13] Considerations for Borrowers - Homeowners with low primary mortgage rates and significant equity may find it advantageous to obtain a HELOC for various uses, including home improvements or personal expenses [12] - It is essential for borrowers to compare fees, repayment terms, and minimum draw amounts when shopping for HELOCs [8][5]

Core Insights - The Federal Reserve has cut the federal funds rate three times in 2024 and recently made a second cut in 2025, leading to a decline in deposit interest rates, including money market account (MMA) rates [1] - The national average rate for MMAs is currently 0.59%, while top high-yield accounts offer rates exceeding 4% APY, significantly higher than the national average [2][9] Group 1: Money Market Account Rates - The importance of comparing MMA rates is emphasized, as interest rates vary widely among banks, particularly online banks and credit unions, which often provide competitive offers [3][4] - Online banks have lower overhead costs due to their web-based operations, allowing them to offer higher deposit rates and lower fees [4] - Credit unions, as not-for-profit financial cooperatives, also provide competitive rates and fewer fees, although membership requirements may apply [5] Group 2: Features and Considerations of Money Market Accounts - Money market accounts are suitable for short-term savings goals, offering higher interest rates than regular savings accounts and easier access to funds compared to certificates of deposit (CDs) [5][7] - These accounts are considered low-risk and are FDIC-insured up to $250,000 per depositor, per institution, making them safer than money market funds [6] - Many MMAs require a minimum balance to earn the highest advertised rate, and failure to maintain this balance may result in fees or lower rates [6] Group 3: Access and Usage of Funds - While MMAs allow access to funds, they may limit the number of transactions per month, which is a consideration for those needing frequent access [7] - MMAs are recommended for individuals looking to earn more interest than a regular savings account without locking funds in a CD, provided they can maintain the minimum balance [7][8]

Core Insights - The Federal Reserve has cut the federal funds rate three times in 2024 and recently made a second cut in 2025, leading to a decline in deposit interest rates, including money market account (MMA) rates [1] - The national average rate for MMAs is currently 0.59%, while top high-yield accounts offer rates exceeding 4% APY, significantly higher than the national average [2][9] - Online banks and credit unions are highlighted as the best sources for competitive MMA rates due to lower overhead costs and not-for-profit structures, respectively [4][5] Group 1: Money Market Account Rates - The national average MMA rate is 0.59%, but high-yield accounts can offer rates over 4% APY, which is more than six times the national average [2] - Online banks typically provide the best MMA rates due to reduced operational costs, allowing them to offer higher deposit rates [4] - Credit unions also offer competitive rates, often ranging from 3% to 4% APY, but may have membership requirements [5] Group 2: Benefits and Considerations of Money Market Accounts - Money market accounts are suitable for short-term savings goals, offering higher interest rates than regular savings accounts and easier access to funds compared to CDs [5][7] - These accounts are considered low-risk and are FDIC-insured up to $250,000 per depositor, per institution, making them safer than money market funds [6] - Many MMAs require a minimum balance to earn the highest advertised rates, and there may be transaction limits that could affect accessibility [6][7]

Core Points - Service Credit Union was established in 1957 to support military personnel and their families, expanding its services to hundreds of thousands of members globally [1] - The credit union offers a variety of financial products including high-yield deposit accounts, loans, and business banking services [1] Product Overview - Everyday Checking account is a free account that earns rewards on debit purchases and includes online banking, remote check deposit, and loan discounts [2] - Dividend Checking account provides the same perks as Everyday Checking with an additional 0.15% APY on balances, requiring a minimum balance of $1,500 to avoid fees [3] - Primary Savings account is essential for membership, offering 5% APY on the first $500 and 0.25% APY on balances over $500, with a $5 minimum opening deposit [4] - Youth accounts for children aged 13 and up offer checking and high-yield savings with similar APY rates as the Primary Savings account [5] - Military savings accounts are tailored for armed forces members and their families, including a Holiday Club account with 3% APY on balances up to $3,000 [6] - Share certificates are available with terms from three to 60 months, offering rates up to 4.15% APY with a minimum deposit of $500 [7] - Money market accounts provide rates up to 1.7% APY, requiring a minimum balance of $2,500 to earn dividends [7] - Trust services include living trusts and payable-on-death accounts [8] - Business and commercial banking products include checking and savings accounts, digital invoicing, and merchant services [9] - A variety of loan options are available, including vehicle loans, personal loans, and mortgages [10] - Credit card offerings include no annual fee cards, rewards cards, and secured credit cards [11] - Investment services are provided through the Service Financial Group, assisting with retirement planning and college savings [12] - Insurance options include discounted coverage for home, life, and auto insurance [13] Membership and Fees - Membership is open to active duty military, veterans, and their families, as well as members of select employer groups and associations [15][22] - A minimum deposit of $5 is required to open a Primary Savings account for membership [19] - Certain fees may apply depending on account types and usage [14] Customer Service and Technology - Service Credit Union offers 24/7 phone support and various contact options including live chat and email [16] - The mobile app has high ratings and allows members to manage accounts, transfer funds, and deposit checks [17] Social Impact - The Service CU Impact Foundation promotes initiatives in education, housing, and support for veterans and first responders, offering scholarships and grants [18]

Core Insights - Bloom Credit partners with Suncoast Credit Union to enable credit building through routine rent and utility payments for its 1.1 million checking account holders [2][4] - Approximately 45 million American adults are credit-unserved or underserved, highlighting a significant market opportunity for credit-building solutions [3] Group 1: Product Offering - Bloom+ will allow users to automatically report positive payment information for rent and utility bills to TransUnion, enhancing their credit profiles [2][4] - Users can select which bills to report, providing them with control over their credit information [4] Group 2: Market Opportunity - 18% of American adults have little to no credit profile, which restricts their access to loans and insurance [3] - The ability to report rent payments, which can exceed mortgage payments, is particularly beneficial for consumers [4] Group 3: Partnerships and Expansion - Bloom has established partnerships with Navy Federal Credit Union and Suncoast Credit Union, with plans to expand into banking partnerships [4][5] - The company is in discussions with several top banks to broaden its reach in the credit-building market [5]