Ask an Expert: American Eagle CU on Saint Louis Checking Accounts
Choosing the right checking account has become more important than ever. That’s why we conducted a brief Q&A with local credit union, American Eagle Credit Union, to find out what you need to know before opening a Saint Louis checking account.
Saint Louis Banking Rates: What should a consumer consider before choosing a local checking account?
American Eagle Credit Union:
- Determine your checking account needs.
- Do your homework and compare.
- Look for an account with no-low monthly or no-low per usage fees.
- Select an account that offers an array of ways to access your account such as via the branch, check card, ATM, online banking and mobile banking.
- Make sure your dollars in your account are federally insured by NCUA (credit unions) or FDIC (banks).
- Ask about overdraft protection
SLBR: What advice do you have if a person in Saint Louis wants to switch checking accounts, but is concerned about the hassle of transferring direct deposits and automatic payments?
AECU: Many credit union or banks offer “switch kits” that help make the transition to a new checking account quicker and easier. These kits include information on how to switch direct deposit, automatic payments as well as directions on how to close your existing checking account. We try to make it as easy as possible for you to move your money and start a relationship with American Eagle Credit Union.
SLBR: Do you offer any online or mobile checking services?
AECU: Yes, American Eagle Credit Union offers FREE mobile banking and FREE online banking (with bill pay and electronic statements).
SLBR: Is the interest rate the most important feature of a checking or savings account?
AECU: It depends on the rate environment. Currently, the interest rate on most savings accounts is low. However, it is important now, more than ever, to save. So, you may want to select a credit union or bank that you have formed a relationship with and you know your deposits are insured. In addition, some institutions offer special bonus rates for students or young adults.
SLBR: For a customer who is new to saving money, what are some tips for getting them started?
AECU: A short and simple approach:
- Determine your savings goals. Both short- and long-term.
- Look for automatic ways to save your money such as have a portion of your paycheck directly deposited into your savings account on a monthly basis.
- Stick to your savings plan.