An important financial decision that you will make is where you will keep your hard earned money.
Whether you’re new to banking or are considering changing where you store your money, there are a few things to consider before you choose a financial institution to ensure that it is a fit for your lifestyle and financial needs.
Technology
If you’re a member of Gen X, the Millennials, or Gen Z, you will likely want to choose a financial institution that has technology offerings compatible with your smartphone like mobile banking, Apple Watch, and tablet, and of course, laptop computer.
Consider where you are most likely to log in and check your account balances, and then make sure that the financial institution you are choosing to bank with has a way to access your accounts on your preferred device. Many financial institutions offer this information on their website for reference.
Convenience
Most people prefer a convenient option when it comes to banking. After all, if you need to stop by the branch for a meeting or find an ATM located on your commute home from work, you don’t want to have to go too far out of your way.
Consider the financial institution’s physical location(s) along with where their ATMs are located. For instance, Camino Federal Credit Union is located in Montebello, but we partner with Co-Op to give our members access to over 30,000 ATMs nationwide with no fee.
Customer Service
To choose a financial institution that is truly catered to your lifestyle and your desires, go to the branch and experience the customer service for yourself. Since they will be dealing with your money, you’ll want to look for a knowledgeable, friendly, and accessible team that is ready to answer your questions or assist you at any time in the years to come.
Rates and Offerings
Depending on your stage in life, your financial needs will vary. If you are just starting out on your financial journey, you may be looking to choose a financial institution that just offers the basics like a savings account, checking account, and a mobile banking app.
However, if you are further along in your financial life, you may want to consider other factors like what kind of loans and what rates your potential banking partner offers before you choose them as your financial institution.
When you choose a financial institution, these are just a few of the factors to consider before opening accounts or taking out loans. Choosing a financial institution is a personal choice, and each person may be looking for different things depending on personal preferences and lifestyle.
Camino Federal Credit Union offers a variety of loans from personal to mortgage and auto, along with stellar customer service for your day-to-day banking needs.
Do you need help managing your finances? Let us know!
It can be challenging to balance your savings, loans, and other accounts all in one place. However, we offer many ways to manage your finances at Camino Federal Credit Union through our branch location, online banking, and mobile banking app. Please give us a call at 800-835-3400 to speak with one of our Member Advisors, or contact us online at caminofcu.org for more information.