When you are starting out in life, you need to establish a bank account to manage your money. You can use this account to receive direct deposits for your paychecks, and you also can use it to pay bills with and handle other routine expenses. However, rather than do business at a for-profit bank, you could keep more of your money by opting for an account at a local credit union. When you sign up for credit union banking in Schiller Park, you can get access to a host of services that can benefit you now and later in life. Here are just a few.
Savings Accounts
From the time that you start your professional career until the day that you retire, you will want to prioritize saving as much money as possible. Rather than save money in a lockbox or jar at home, however, you can keep it safe and working for you by putting it into a savings account at your local credit union. When you sign up for banking in Schiller Park, you can open not only a checking account for paying bills but also one or several types of savings accounts. These accounts allow you to put money aside out of each paycheck and earn interest on it for as long as the money remains in your account.
Loans
During the course of your adult life, you also may need additional financing to buy a car or house. You also may need a loan to cover emergency expenses like medical bills. A reputable credit union can offer you financing for low-interest rates depending on your credit score. You could get repayment terms that are more affordable than those found at mainstream banks.
To find out more about the services offered at a local credit union, contact Leyden Credit Union in Schiller Park, IL,.
