The Importance of Understanding Checking vs. Savings Accounts

When opening an account at credit unions in Dallas, you will be given choices for different checking and savings accounts. Knowing your choices will help you receive benefits from each of them.

What is the Difference?

GO Federal Credit Union in Dallas will be able to give you the information that is needed so that you can choose which account will work best for you.

·       Your Checking Account: GOFCU offers a variety of checking account options. Each account features terrific benefits including FREE online bill payment, FREE Home Banking, FREE audio response (Touch & GO), FREE E-Statements, FREE online check viewing and more. These accountsare transactional. Your everyday spending money is what belongs in these accounts.

·       Your Savings Account: GOFCU offers a variety of savings options to meet the needs of every member. All savings accounts earn competitive dividends and are federally insured up to $250,000 by the NCUA. With these accounts, earningdividendslets your money make you more money! These accounts are not transactional. You should use them sparingly and mainly add to it and forget it’s there.

The Benefits

Having checking accounts at a Dallas credit union like GO Federal is the best way to keep up with your money. It is advised and encouraged that you have both a checking and savings account. They both do different things that work together to benefit you as much as possible.

You can also get help from GOFCU so that you know where to place your money and how to easily access it. But the most important thing is to understand that your checking and savings accountscan work together. GO Federal Credit Union is here to help improve the financial well-being of its members.  

Federally insured by NCUA and Equal Housing Lender