Newsletter
Summer 2023
Giveaway
Win an iPhone 14 or Samsung Galaxy!
Follow these steps for your chance to win in our smartphone giveaway. Contest ends July 31, 2023.
President's Message
Five Strategies to Make Your Credit Card Your Ally
Tackle these common credit card misconceptions to take charge of your finances, protect yourself from fraud and earn rewards on everyday purchases.
Feature
Three Ways to Shift Your Money Mindset
Move from shame, comparison and negative beliefs to beneficial thinking that can help you achieve your financial dreams.
Feature
Why You Should Insure Your Summer Adventures
Get answers to common travel questions and avoid unexpected setbacks in your summer vacation plans. We’ll cover all the details so you can enjoy stress-free travel!*
Announcement
2023 Elevate Scholarship Winners
The Mountain America Foundation proudly awarded 120 scholarships to graduating high school seniors. Get details about our $300,000 scholarship program.
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Win an iPhone 14 or Samsung Galaxy!
Elevate your digital banking experience by entering our smartphone giveaway. Follow these steps for your chance to win an iPhone 14 Pro Max or Samsung Galaxy S23 Ultra. Contest ends July 31, 2023.1
Opt in to the contest
Gain one entry by texting IPHONE or GALAXY to 205-850-0291 or by filling out the entry form.
Earn additional entries
- Gain five entries every time you use your Mountain America debit or credit card.2
- Gain 10 entries by opting in to SMS messages. It’s a great way to hear about new giveaways and promotions.
- Gain 20 entries by adding your Mountain America debit or credit card to a mobile wallet.
- Gain 20 entries by opting in to card transaction alerts.
Entry form
2. Loans on approved credit.
2/5
Five Ways to Make Your Credit Card Your Ally
Sterling Nielsen, President/CEO
There are plenty of misconceptions about credit cards. The biggest might be that they are always harmful for your financial health. This is not the whole truth. When used responsibly, credit cards can help you take charge of your finances, protect you from fraud and earn rewards on purchases that are already built into your budget.
Responsible use is the key to making your credit card work for instead of against you. Using a credit card is somewhat like having a sharp knife in your kitchen. While there is an associated risk if misused, a credit card can also be an essential tool in your financial plan.
Why use a credit card over a debit card?
Credit and debit cards both offer convenient ways to make purchases, but they are distinct financial tools. Here are a few advantages of a credit card that you cannot get with a debit card.
Safeguard your
checking account
Mountain America offers fraud protection on all our accounts. However, since credit card purchases don’t immediately withdraw funds from your checking account, this may add another layer of protection to your cash.
Earn rewards
Most credit cards offer rewards programs to earn cash back, points or miles on every dollar you spend, which can add up to significant savings over time.
Build credit history
Credit cards allow users to build credit history, which is an important factor in obtaining other kinds of loans, such as a mortgage or auto loan.
If a credit card makes sense for your financial situation, make it your ally using these five tips.
The most important tip to make your credit card work for you is to pay off your balance in full and on time every month. If you carry a balance, you will pay interest on those borrowed funds, reducing the benefit of the rewards you earn.
To pay off your balance every month, start with a plan.
- Create a budget outlining your monthly income and expenses.
- Build up your savings account to cover unexpected expenses.
- Integrate your credit card spending into your budget. Set up autopay to pay the monthly balance.
- If you cannot pay the full balance, pay as much as you can to reduce interest charges.
For help creating a budget, visit our Learning to Budget hub or schedule an appointment with a financial guide.
When it comes to credit cards, the options are limitless. To help you decide, consider how you plan to use the card and why.
- Keep in mind the card’s annual percentage rate (APR), which is the rate of interest you will need to pay if you carry a balance, and any annual fees.
- Read the terms and conditions before you start using any credit card.
- If you plan to pay off the balance each month, choose a rewards or cash back card.
- If you think you might occasionally carry a balance, a low rate card might be the best fit.
Still have questions? Get tips to find the right credit card for you.
Using your credit card for recurring, planned expenses is a steady way to earn rewards points. Splurging on a new TV or luxury vacation—unless it’s in the budget—is not. Pay for gas, groceries and other budgeted items with your credit card to accumulate rewards or cash back without overspending.
Right now, earn double rewards on these everyday purchases with a Mountain America Rewards credit card through July 31, 2023.*
*Loans on approved credit. Offer can change or be withdrawn at any time.
The best way to prevent overspending is by closely monitoring your transactions. Use digital banking and alerts to avoid surprises and make adjustments before your expenses get off track.
If you find you need more room in your budget, instead of using a credit card, consider options such as a lower-rate loan or debt consolidation.
Travel and online shopping offer great experiences, but, unfortunately, they attract fraudsters and scammers. Using your credit card instead of a debit card while doing these activities helps to provide added peace of mind.
If your card is lost or stolen, use card manager to freeze your card, report it missing or request a new one.
Make the most out of your credit card, earn rewards and improve your financial wellbeing with these tips. I encourage you to reach out to a financial guide and schedule an appointment if you would like to discuss the best credit card or loan consolidation option for you. We’re here to guide you forward.
3/5
Three Ways to Shift
Your Money Mindset
Improve your money mindset with these three shifts.
1From shame to empowerment
2From comparison to personal values
3From negative scripts to a positive focus
It is impossible to change our emotions directly (Just stop being sad!). However, the things we regularly think about will influence our emotions, which drive the desires that influence our decisions. That’s why the way we speak to ourselves about money (our internal script) really does matter.
Do you ever find yourself thinking:
I’ll never get out of debt.
I’m just not good with money.
I’ll never succeed.
I hate money.
4/5
Why You Should Insure Your Summer Adventures
Summer vacation season is upon us, and you’ve made all the plans. You’ve booked flights, chartered a cruise, reserved hotels or tuned up the car. Amidst all your planning, it’s easy to overlook a crucial detail—insurance.
To avoid unexpected setbacks that lead to financial losses, here are some answers to common travel questions.*
What does travel insurance cover?
If you’ve never purchased travel insurance, it is a policy or series of policies that protect you from financial losses associated with traveling.* The specific benefits can vary depending on the policy and the insurance provider, but here are some common covered features:
If you need to cancel or cut your trip short due to severe weather, illness, injury or death of a family member, travel insurance can reimburse you for nonrefundable expenses such as flights, accommodations and cruises.
Travel insurance can help pay the cost of replacing essential items or provide compensation for your inconvenience.
If your flight is delayed for a certain number of hours, travel insurance may cover expenses such as meals, accommodations and transportation during the delay.
Travel insurance often provides coverage for medical emergencies that occur during your trip. This can include doctor's visits, hospital stays, prescription medications and emergency medical evacuation.
Many travel insurance plans offer service access to a helpline for emergency assistance, travel information and help in coordinating any necessary arrangements.
Does personal auto insurance cover rental cars?
The short answer is—it depends. The longer answer is more nuanced. In most cases, your personal auto insurance policy is enough to cover a rental car. However, there are some exceptions. Before you forego rental car insurance, check into the following details.
1Your policies
If you don’t have personal auto insurance, you should absolutely purchase rental car insurance. Otherwise, you will not have a financial safety net.
2Personal or business
Using a rental car for personal purposes like a summer road trip is generally covered by your auto insurance. For business-related driving, confirm what coverage your company provides to verify what your insurance needs are when traveling.
3Car values
If you rent a luxury vehicle but only own a modest sedan, you’ll likely need extra coverage to bridge the gap in value.
4Gaps
Some situations simply are not covered by your personal auto insurance. For example, it typically doesn’t pay the rental company’s “loss of use” fee while the car is being repaired.
What about credit card protection?
Some credit card issuers provide rental car benefits, as well as travel and emergency assistance. However, this coverage is not as comprehensive as travel insurance. Check with your card issuer to see what is and isn’t covered.
Should I speak with an expert?
If you are still exploring your options or would like a second opinion, Mountain America Insurance Services is always here to help.
Insurance products are not protected by the NCUA, may be subject to risk and, in the case of life insurance, may go down in value.
2023 Elevate Scholarship Winners Announced
The Mountain America Foundation is dedicated to supporting youth who embody our core values and serve their communities. This year, we are proud to award 120 scholarships to graduating high school seniors.
Our foundation team reviewed hundreds of applications and were thoroughly impressed by the youth in our six-state footprint.
We are thrilled to announce 2023 scholarship winners and hope their awards will guide them forward as they pursue their goals.
$300,000 awarded among 120 recipients
Recipients were selected from Arizona, Idaho, Montana, Nevada, New Mexico and Utah, based on:
Scholastic
records
Character
Work ethic
Community
contributions
Leadership
in action
GET NOTIFIED
Get notified about our 2024 Elevate Scholarship applications opening later this year.
Sign up nowCheck out other causes the Mountain America Foundation supports.
Visa Gift Card Update
Due to minimal demand and to better streamline the member experience, Mountain America is no longer issuing Visa gift cards. Please visit your local retailer or online merchant for this product.
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