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5 Things Your Financial Institution Should be Doing for You

Are you paying to withdraw your own money? Forget it. In banking today, you have more options than ever before.

5 Things Your Financial Institution Should be Doing for You

Aside from great customer service and attractive rates, you should be looking for a financial institution that provides some (or all!) of the following. 

1. Offer a Wide Range of Products and Services

Your financial institution should offer a wide range of products and services to meet your financial needs, such as savings accounts, checking accounts, loans, credit cards, and investment products. And, they should work with you to find the right products and services to assist you with your unique financial situation. 

A good financial institution should be able to provide personalized service to meet your unique financial needs and goals. This may include offering financial advice or guidance, recommending products or services tailored to your situation, or working with you to develop a financial plan. 

2. Offer Competitive Interest Rates on Your Checking and Savings Balances

Whether you have a substantial savings fund or you are just starting out, a little bit of interest can go a long way in helping you build a safety net. A high-yield savings account from TDECU offers to pay you up to 1.00% APY1 on every dollar you have in your savings balance2. Compare this to the national average interest rate on savings accounts, which is just 0.09% APY. Earning high interest on savings is gradually becoming the standard, but what about the money you keep in your checking account? Discerning consumers are starting to demand just that, and TDECU is listening. When you open a High-Yield Checking account, you will earn up to 1.00% APY1 on your checking account balance as well as your savings2.

Be sure to shop around and compare rates and fees from different financial institutions to ensure you get the best deal.

3. Make Online and Mobile Banking Simple

Maybe you are out and about and find something you love in a shop window. Do you have enough in your checking account to cover it? You might need to transfer some money from savings before you buy, or maybe you just want to see if your last check was deposited. Regardless of what you need to do, you should be able to do it easily. Whether you are logging in from a mobile device, tablet, or computer at home, TDECU makes accessing your bank accounts simple.

As an online bank, we put the ability to view, deposit and transfer balances at your fingertips. We are easy to reach by phone and online messaging. You will enjoy our streamlined, intuitive online interface, and if you need help, our friendly support team is just a click away. 

Your financial institution should offer various banking options to meet your needs, such as online and mobile banking, ATMs, and in-person banking at branches. It should also have extended hours or 24/7 online access to allow you to manage your accounts from anywhere and at any time.

Additionally, your financial institution should provide clear and transparent terms and conditions for its products and services, including any fees, interest rates, and other charges, and be upfront about potential risks or limitations associated with its products and services. You should also ensure your financial institution has strong privacy policies to protect your personal and financial information. It should provide easy-to-understand content about how your information will be used and shared and should take steps to secure it against unauthorized access or misuse.

4. Reimburse Your ATM Fees

At TDECU, we want to minimize ATM fees. When you bank with us, you get access to over 55,000 fee-free ATMs. Some other ATMs charge you a fee, which is out of our control. So, we offer our High-Yield Checking account that offers a refund of up to $30 a month in ATM fees2. With the average cost of withdrawing from an ATM of $4.66, it is worth having this checking account option to reimburse the fees back to you.

5. Empower You with Financial Health Check-Ups

We believe your financial institution should do more than just store your money. At TDECU, we go a step further and empower you with two of today's financial health necessities: credit score and identity theft monitoring. With a High-Yield Checking account from TDECU, you receive free identity theft protection and credit score checks.

Monitoring and working to improve your credit score over time means you will set yourself up for success when applying for a credit card, car loan, or mortgage. By understanding your credit score, you will be prepared for credit line increase requests and loan applications from third parties. Plus, with free identity theft coverage, you can rest assured TDECU will be by your side if your credit cards, social security number, or other personal information are ever stolen.

Your financial institution should be responsive to your needs and concerns, whether you have a question about a transaction on your account or need assistance with a problem. A good financial institution should also offer educational resources and tools to help you make informed financial decisions. These may include educational articles, budgeting tools, financial calculators, workshops, and seminars.

Take Control of Your Finances

Your financial institution can do a lot for you, but it is time for a switch if yours is still doing the bare minimum. Reach out to TDECU to learn more about High-Yield Checking. See how our friendly staff and feature-rich accounts set us apart from the other options. By offering these services and features, your financial institution can help you manage your money effectively and achieve your financial goals. It is essential to evaluate the services and support offered by your financial institution and to choose one that meets your needs and expectations.

 

1APY = Annual Percentage Yield. 2Must be at least 18 years of age to open a High-Yield Checking (HYC) account with a limit of one account per Member. Requirements to earn the highest APY include enrollment in eDocuments, recurring direct deposit with an aggregated total of $500 or more per month that posts to your HYC account, and a minimum of 10 debit card point-of-sale withdrawal transactions of $1 or more per month. Highest APY includes 1.00% on HYC balance up through $20,000 and 0.25% on any HYC balance over $20,000; 1.00% APY on primary savings balance up through $50,000 and 0.25% APY on primary savings balance over $50,000. If requirements are not met, accounts will earn an APY of 0.02% on HYC balances and 0.10% on primary savings balances. Account-holders will receive a maximum rebate of $30 per month on non-TDECU ATM fees. Other terms/conditions apply. Contact TDECU for complete details. Insured by NCUA.

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