When it comes to managing your money, you need something more reliable than a wallet or piggy bank. Opening checking and savings accounts will divide your earnings and keep track of your spending. If you’re feeling a little intimidated about taking this step with a credit union, getting started is simple.

3 Tips for Opening Your First Checking & Savings Accounts

1. Come Prepared

Before you head to the financial institution, you’ll need to gather a few documents to prove your identity. Most credit unions require a valid form of identification, such as a state-issued driver’s license or a passport. You’ll also need your Social Security card.

Make sure your name is the same across all these documents. If a recent marriage or divorce led you to change your name, update your identification documents before opening an account.

2. Ask About Fees

When you sit down with a representative, ask them to go over the fine print of your checking and savings accounts. You’ll want to know if there’s a minimum amount of money that should be in the accounts at all times or a certain amount required in direct deposits each month.

In some cases, you may be fined for falling under this amount or for overdrafting your account with automatic payments to credit cards, utility companies, or a landlord. Ask if there are extra fees for using certain ATMs and how much money you can withdraw at a certain time.

3. Don’t Forget Online Services

To stay on top of your current balance and look out for fraudulent charges, you’ll need convenient online access. This way, you can check on your accounts from your laptop or smartphone no matter where you are.

Make sure that your credit union offers an app or website for online account purposes and that you can set up a username and password during your appointment. In some cases, you may be able to use the portal to pay your rent and other bills online.

If you’re looking to open a checking and savings account with a reliable financial institution, turn to Chattanooga First Federal Credit Union today. This Tennessee mainstay has over 55 years of experience helping area residents protect and stay on top of their finances. Whether you need to save up or take out a loan, you can count on their accommodating staff to meet your needs. To learn more about their member benefits and services, visit the website. Call (423) 267-7621 to make an appointment today.