MONEY MATTERS
Choosing a bank or credit union.
Depending on where you live - urban vs. suburban vs. rural - your banking and credit union options will vary considerably. If you are in an area that offers both, there are several features to weigh and consider:
Services: Compare the basic banking services and access to specialized financial products, including advanced online services and mobile banking.
Rates and incentives: Look at the current rates, fees, and incentives - as well as overall benefits to being a customer or a member of the bank or credit union. Are there good reasons for joining one over the other?
Location: Evaluate options to access your accounts, whether it's branch locations or ATMs or mobile banking services, and decide whether a national footprint is a requirement for your banking.
".... both banks and credit unions insure your money up to $250,000 per person, across a group of accounts (checking, savings, and CDs
would be considered
one group)."
Finally, it's important to note that both banks and credit unions insure your money up to $250,000 per person, across a group of accounts (checking, savings, and CDs would be considered one group). The Federal Deposit Insurance Corporation (FDIC) insures banks, and credit unions are backed by the National Credit Union Administration (NCUA).