1 c. chopped onion
1/4 c. butter
1/4 c. flour
2 tbsp. Dijon mustard
2 (14 oz.) cans chicken broth
2 c. milk
4 c. (1 lb.) medium Cheddar cheese
1/4 tsp. ground white pepper
dash of ground nutmeg
saltine crackers

Cook onion in large saucepan over medium-high heat in butter. Blend in flour, mustard, pepper and nutmeg until smooth. Stir in milk; cook, stirring constantly, until thickens and begins to boil. Remove from heat. Add cheese, stirring until melted and mixture is smooth and creamy. Serve hot with saltines.