MTS to a iMovie format

[louisaadams]

So I recently got a Sony HD Handycam that records either to an SD card or an internal harddrive.

The problem is all the video formats are recorded to MTS which does not play on a MAC, let alone download onto it. So I have all these video files still on my camera that I cannot put onto my computer, and I would like to be able to edit them all through iMovie and eventually Final Cut Pro, whenever I get it.

Does anyone have any software recommendations that convert MTS to a useable file format, preferably not a horrifically expensive one?