Many people prefer local, community banks and credit unions to banking at large, corporate banks. The reasons vary from more personal service and attention to better rates. Funds generally stay in a community and in the case of credit unions, you are not just a customer but a member.
While the services and processes or large banks and community unions are similar, to be eligible to become a member of a credit union, one must be a part of its “field of membership”. This usually requires members to work for a certain company or industry but has been widened to include living in certain areas. Odds are, if there is a credit union in your community, you are eligible to apply for membership.
While fewer people are “writing checks”, a checking account still offers conveniences and value. Checking accounts are frequently tied to debit and ATM cards making accessing cash easier. There may also be times when mailing a paper check is a safer way to pay for a product or service and access to your own routing number and checking account number will also facilitate ACH (electronic transfer) payments a breeze.
Community banks and credit unions often make it easy to open a checking account online.
Opening a Checking Account Online is Easy
Many community banks and credit unions make is easy to open a checking account online with a few pieces of information. You'll need to provide your personal information, including your Social Security card number. If you are applying to a credit union, you'll need to show you qualify for their “field of membership.” This may include an employee ID number or even a utility bill that shows you live in the credit union's service area.
You'll likely be asked to make a minimum starting deposit, select a check design, and be asked if you want an ATM card. As long as you don't have a history of writing "bad" checks in the past and your credit rating meets their minimum standards, you should have everything you need in the mail within days. Open a checking account online today!