Sarah wanted a savings account to help her save for a car and
she wanted a checking account to pay her bills.
She went to a bank near her office.
Sarah was surprised that they charged a monthly fee for
anyone with less than $1,000 in the bank.
So Sarah decided to do some homework.
She made a list of the things that were important to her.
She wanted a bank with lots of ATM's.
She didn't want to pay fees, so she wanted a bank that let
her keep a low minimum balance without charging her extra.
She also wanted a bank that paid interest on both her
savings and checking account.
Knowing what she wanted, Sarah compared a credit union with
another bank.
The credit union didn't have many ATM's, but she could use
any other credit unions ATM for free.
There were no fees and no minimum balance required, and
both accounts paid a small interest rate.
The bank had lots of ATM's, it also had fees if her balance
went below $300.
The savings account paid interest, but not
the checking account.
Sarah thought the bank might be more convenient, but she
worried about paying fees if her balance went below $300.
And she liked the idea of getting interest even a little
bit on her money.
Sarah decided the right place to help her save and pay her
bills was the credit union.
But, it was a tough decision.