Finance Quick Answers
How do I choose a financial institution? There are so many options to choose from!
Financial institutions are businesses that offer
services such as checking and savings accounts, car
loans, home mortgages, credit cards, and retirement and
investment services. And there are so many out there
that choosing the right institution for you can be a
relatively frustrating experience. If you are trying to
select a financial institution that can best serve your
needs and lifestyle, asking yourself these questions may
help speed up the process of deciding which one is right
for you.
- Does it offer services I need?
- Is it close to home?
- Does it have reasonable hours?
- Does it have ATMs? If so, are they located near where I live, work and shop?
- Am I eligible to join a credit union?
- Do any employees speak my language?
- What kind of identification is required to open an account?
- What, if any, fees will I be charged?
Source: A Comprehensive Guide for Community Educators,
"Choosing a Financial Institution," Fact Sheet p.3
Written by:
Sandra McKinnon, Consumer & Family Economics Specialist,
University of Missouri Extension
Cynthia E. Crawford, Ph.D., Consumer & Family Economics Specialist, University of Missouri Extension
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Last update: Monday, July 28, 2008
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