Hey Gabbers, how is the New Year treating everyone?
With today’s economy people are very cautious about where they put their money. Turning times like these people tend to take their money out of banks and actually put them into credit unions. Yet you should always have your money in at least two places. The reason is first having your money in two places makes it more difficult to get to your funds, which means easier for you to save.
Also as some of you may know I currently work for Tower Federal Credit Union, but just recently TFCU was doing an end of the year system check and the system, ATMs, and pretty much everything linked to TFCU was shut down for about 36 hours. Now for me not being able to use my debit card for a day was no problem. Yet I had no idea how many people were dependant on their bi-weekly paycheck for funds.
With having at least a small amount of funds in a separate financial institution you can always get to at least a little amount of cash no matter what.
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3 comments:
I agree I have money in two different banks, mainly because one bank account had better rates for a savings account and the other bank is at my school. I feel it is also safer to have your money split up into different accounts. What if someone got ahold of your account information and before you realized it the money was gone. If you have your money split up you would have not lost it all.
Hey Steve,
I think that having two checking accounts os a great idea. I am actually thinking of opening one with SECU!
I have my money in two places for that exact reason. Im afraid to rely on banks with all my cash because it is a process to get your money when you need it. Banks systems can easily shut down and also bank has specific hours of operation that conflict with my work schedule... but I do tend to save the money that is the hardest to get to which is the bank that is further from my house.
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