Everyone has numerous banks to choose from. In virtually every city and town in the United States, you can find a range of well-known chains and local businesses. Some services are common to all types of financial institutions, but most will set themselves apart by providing personalized service for customers in the local area.
Banking Services
Deposit accounts - Financial institutions provide checking and savings accounts, as well as certificates of deposit and money market accounts. Different requirements on the accounts usually determine the interest rate and special fees that may apply.
Direct Deposit - Most banks will allow funds to be directly deposited into an account. This may include payroll checks, payments from retirement accounts, and social security funds. In some cases, you can also arrange for a portion of the payments to be deposited into separate accounts, such as a savings account. Direct deposits thus allow you to more easily build up your savings!
Bill Paying - Many financial institutions also allow you to set up bill payments from your primary checking account. You can easily set up the payment amount, destination, and frequency. Make sure you understand the policies for managing these accounts and the process for stopping a particular payment subscription.
Additional Services
Financial advice/assistance - Some banks will offer help with budgeting, investment decisions, and financial planning.
Loans - Because they are familiar with the local area, these institutions are a good source for car loans, personal loans, cash advances, and mortgages.
Credit Cards - Many businesses will offer debit and credit cards, as well as pre-paid cards.
Insurance - Some institutions will work with an underwriter to provide term life insurance, or help you to identify the right insurance for your particular life situation.
Options for every family member - Many banks offer special services for children, teens, college students, military members, and retirees. Ask about products appropriate for your age and stage in life!
Community Involvement
It is important for a bank to show that they are invested in the local community and its residents. Involvement in community events, sponsorship for children and youth sports teams, and assistance with special fundraisers all demonstrate a financial institution's willingness to become partners with the residents in their communities. The staff at a good bank will know if a new housing development is being built, a manufacturing facility is closing down, or other community developments are occurring so they can be sensitive to the needs of their customers and respond accordingly with special services and assistance.
Banks are more than just a place to store your money. They are your partner in financial planning and management!
When considering banks, Portage, MI residents visit Kalsee Credit Union. Learn more about this procedure at http://www.kalsee.com/.
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