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Summary of Managing Your Money at a Bank or Credit Union

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Summary of Managing Your Money at a Bank or Credit Union

Using a bank or credit union to manage your daily financial needs is a must in today’s world. Make an investment in your future by establishing a relationship with a financial institution you trust and take advantage of the products, services and money management tools they offer. Banks and credit unions exist to provide you a safe place to deposit your money and great tools to help you manage your spending and saving. They also are ready to help you with your borrowing needs when you are ready to finance significant purchases in your life.

Whether you’re just getting started or already have accounts established, create a plan that will help you manage your money more effectively today and into the future.

Meanwhile, here are some tasks you can do to help you along.

Things to do

  • If you already have savings and checking at a financial institution, evaluate the fees and services to determine if they are meeting your needs.
  • If you have a debit card, verify that you have selected to opt out of having overdraft protection.
  • Research financial institutions to find low or no-cost checking or savings accounts as long as you maintain a minimum balance in the accounts or have direct deposit of your pay. Look for accounts with minimums of $500 or less.
  • Understand how a check card works and use it responsibly.
  • Take full advantage of online banking tools to manage your accounts. If you don’t use them today, visit your financial institution’s Website or talk to a customer service representative to learn how to get started.
  • Keep track of all checks you write and monitor when they clear (that is, when they are cashed).

What you have learned

  1. Establishing a Relationship with a Bank or Credit Union
  2. How to Choose Bank Accounts to Meet Your Needs
  3. Understanding Bank and Credit Union Fees
  4. Opening Accounts at a Bank or Credit Union
  5. Check Cashing Stores
  6. Managing Your Bank Accounts Responsibly
  7. Overdrafts on Your Checking Account
  8. Checkbook Simulation Activity

Find out what you have learned