6 Benefits of a Checking Account

Checking accounts, also known as share draft accounts at credit unions, are handy, all-purpose accounts to keep your money safe and secure. Not only are they a convenient way to hold and access your funds, but opening a checking account is an excellent step in creating a healthy financial future.

Even if you don’t write checks and use a digital wallet over cash, today’s checking accounts offer benefits that are too good to pass up. Whether you’re looking to switch your financial institution or researching new tools, check out the best checking account benefits below.

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Money Management 

Money management tools can help account holders track expenses, invest, and maintain a budget. Each financial institution will offer a different assortment of money management tools. Check with your local financial institution for details.

Build Credit Health

For many people, a checking account is the first step in building a solid credit score that lenders love.

Keep Your Money Safe

Credit unions are insured by the National Credit Union Administration (NCUA). The Federal Deposit Insurance Corporation (FDIC) insures bank deposits. This means your money is safer in your checking account than in your piggy bank.

For added security and peace of mind, many credit unions offer the ability for members to lock their debit cards and receive push notifications whenever a fraudulent purchase is made. 

Online Checking Account Tools

Today’s checking accounts offer members more tools than ever before. Take advantage of these and see funds grow and financial goals achieved. 

Fast and Secure Bill Paying

Set up bill pay and make it easier to pay off debts, car payments, and even utilities.

Easy Access to Cash

Credit union members and bank customers will find easy access to cash and services.

Further Resources on the Benefits of a Checking Account

Here are some further resources on the benefits of a checking account.

Digital Wallets

Check with your financial institution if this feature is enabled. A digital wallet is a convenient way to purchase all kinds of items and services using your phone instead of cash or credit cards. Examples are Apple Pay, Google Pay, Venmo, PayPal, and Zelle. You can set up a digital wallet and link it to your checking account. Once enabled, you can conveniently transfer funds from wallet to bank or bank to wallet.

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Did you know?

Understanding the benefits of a checking account is the first step in managing your money. Finding the right credit union is the next. Use the Credit Union Locator and search based on location and the services you need. Credit unions not only make your money go further, but they also provide exceptional customer service, convenience, and a higher savings rate. Get started on your financial journey and open a checking account at a credit union near you.

Find the right Credit Union for you

There are more than 5000 credit unions to choose from across the U.S.