Assignment Task:
Financial Institution Comparison
Choose TWO out of three options below Commercial Bank Credit Union Online Bank Name of institution Put an "X" to indicate this is your current bank/credit union. Convenience: Include hours of operation, proximity to home & work/school Minimum balance for checking account & related fee if balance is below the minimum ATM usage fees (include fees for "excessive" ATM transactions, using an ATM of another financial institution) Overdraft fees and options for overdraft protection (including costs for the protection) Interest rates on savings account deposits. (Note: savings accounts may go by a different name. For example, ESL calls theirs Daily Dividend and Money Maker accounts). Interest rate (APY) on a 1-year CD with a relatively low minimum investment. Does this institution offer any special accounts for students? If yes, what are the benefits? Summarize the pros and cons for this financial institution. Based on what you learned in your research, will you be changing banks? Explain why or why not and why the institution you've chosen is best for YOU. Use as much space as you need.