Financial Literacy
What Is a Money Market Account? A Simple Guide to Smarter Saving
September 2026 You know what a checking account is. You probably know how a savings account works. And you may have heard of share certificates, the credit union equivalent of Certificates of Deposit (CDs). But a money market account? For many people, that’s where things get a little less clear. Despite the name, a money…
Read MoreUCU Helps New Member Claim $22,500 in Grants to Purchase Condo
6/25/2026 Catharine Murray was introduced to UCU with a clear goal in mind: to purchase a condo close to her family in a coastal Maine community. What she didn’t know was how her interaction with the UCU team would completely change her home buying experience. Having already picked out a condo, she signed up for…
Read MoreBeth’s Advice? If you’re feeling like a number at a bigger bank, come to UCU.
Beth loves the personal touch she experiences at UCU. As a regular drive-up video teller user, she’s greeted by name with a smile every time and never feels rushed. Whether at the drive-up or in a branch, she knows she’ll get clear, consistent answers from the UCU team she trusts. A few years ago, when fraud appeared on her account while traveling abroad,…
Read MoreWorld Elder Abuse Awareness Day
June 15, 2026 Blog provided by the Maine Credit Union League Here in the U.S., financial exploitation is the fastest-growing form of elder abuse. Elder financial exploitation is defined as the illegal or improper use of an elder’s funds, property, or assets. Millions of older Americans are abused each year, and given that Maine has…
Read MoreHow to Buy a House With No Money Down
For years, the idea that you need a large down payment to buy a home, often 20%, has kept many potential buyers on the sidelines. But the reality is, there are options to buy a house with no money down, if you qualify. The key is understanding how these options work, who they’re designed for,…
Read MoreThe Unexpected Costs of Buying a Home (What to Expect—Without the Surprises)
When you start thinking about buying a home, it’s natural to focus on the down payment and monthly mortgage payment, but there are a few additional costs that come into play along the way. Understanding them early can make the process feel much more manageable. The good news? None of these costs are “gotchas.” With…
Read MoreRenovation & Construction Loans: What They Are and How They Work
If you’re planning to build a home or significantly renovate one you already own, you may need more than a traditional mortgage. That’s where renovation and construction loans come in. These loans are designed specifically for projects where the home is being built, improved, or completed over time. Because they work differently than standard home…
Read MorePrivate Mortgage Insurance (PMI): What It Is and When It Actually Makes Sense
If you’ve started exploring mortgage options, you’ve probably come across the term Private Mortgage Insurance (PMI), or heard it referred to more broadly as Mortgage Insurance (MI), and wondered exactly what it means for your monthly payment. For many buyers, mortgage insurance can feel like just another added cost, but the reality is, MI isn’t…
Read MoreHomebuying Process (What You Actually Need to Know in 2026)
Buying your first home is a big step. And if you’ve started researching, you’ve probably realized how much conflicting advice is out there. Save 20%. Get preapproved. Find the lowest rate. Move quickly. Don’t rush. The truth is, the homebuying process isn’t one-size-fits-all. In 2026, first-time buyers are navigating a quickly changing market, evolving loan…
Read MoreDo You Really Need 20% Down? (Why Most Buyers Wait Too Long)
The idea that you need a 20% down payment to buy a home has been around for decades—but it’s one of the most common misconceptions in homebuying. In reality, most buyers today are putting down far less. And in many cases, waiting to reach that 20% threshold can actually delay homeownership longer than necessary, especially…
Read More
