PERSONAL FINANCE MANAGEMENT

What You Should Know About Northwoods Credit Union

The Northwoods Credit Union is a cooperative financial services organization owned by its members. The Union offers many financial services including savings, loans, investments, credit, debit and credit cards, Internet banking, and many other related financial services. Members of the Union have an automatic vote on issues that affect their interest groups and their local communities.

An NRCU credit card is an excellent way to build up a good credit score. This is because every time you use your card to make purchases (such as food, gasoline, etc.) the money is automatically deducted from your checking account. So, every time you use your card you are paying off an interest charge on your account. As you start to build up a good credit score and keep your balance low, you will also be increasing your borrowing power which allows you to purchase more expensive items and utilities at a lower rate.

There are several advantages of becoming a member of the Northwoods Credit Union. The primary advantage is that all fees and costs associated with the operation of the Union are included in the monthly membership fee. So, there is no separate monthly membership fee or special assessment for operating the Union. The Northwoods Credit Union also has an electronic statements program. So, members can obtain their monthly statements directly through the Union web site.

Members can obtain additional cards to be used in combination with their main accounts. This makes it easier to manage your credit accounts. For example, a Northwoods Credit Union member can add another gas card or another credit card with a lower interest rate onto his Northwoods Credit Union account. Then when he wants to make a purchase, he can use the routing number for the second card and not worry about using up the designated card limit on the main credit account.

Many of the Northwoods Credit Union’s cards come with a special feature known as Pay Now. With this feature, a new card holder can register for the card without actually having the card in his possession. The automatic withdrawal from the designated credit card is then done when the bills due date rolls around. To avoid overspending and the added fees, this feature is intended to be used only when needed. In most cases, a cardholder only needs to set up his automatic withdrawal feature when he knows that he does not have enough cash on hand to cover the bill.

A Northwoods Credit Union is not affiliated with any one particular bank or financial institution and accepts all major credit cards including MasterCard, Visa, Discovery, and JCB. Cards may be accepted by mail or phone, but those methods of payment will result in a delay in receiving the card in the mail or in the recipient’s hands. Because of this, it is best to use debit and credit cards when possible so that the card routing number for the recipient will be added to the card.

Because this credit card is not affiliated with any one bank, there is no requirement for the cardholder to open an account with the institution where he will be purchasing the card or pay fees for such service. Also, because the transactions made with these cards are done online, it is easy to complete the process without leaving the comfort of one’s home. Those who live in remote areas or places that are not near banks can also get these cards without having to go through any additional hassles. Because these cards do not have an annual fee, cardholders do not have to pay extra for being a member of the Northwoods Credit Union. There are also no membership fees associated with the Northwoods Credit Union.

Although the Northwoods Credit Union does not have a merchant processing network like most major banks and credit card companies, there are still some things that a cardholder should do to get the most out of his or her cards. One way to maximize the usage of a credit card is to pay off the balance before the due date. Another thing that would help a cardholder is to pay the balance before the interest begins to build up. Most Northwoods Credit Union cards come with a grace period of two months in which a cardholder can pay the balance before the interest rate begins to build.

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