Did you know that the average American has approximately 5 banks across the financial industry, including credit card providers? If I’ve got you counting where you bank on your fingers, then you more than likely belong to more than one bank. Having too many accounts can be overwhelming and tough to keep track of. Think about it for a minute. If you have one financial institution that you trust to provide you with the latest and greatest financial products, services, and educational tools and resources, why would you need another?
What Is a Primary Financial Institution?
I’d like to start off by defining primary financial institution, or PFI. A PFI is the bank or credit union that you turn to first for all of your banking needs. It’s where you have your personal banking products, such as savings and checking accounts, auto or personal loans, and credit cards. It’s also where you utilize online banking and mobile app services, as well as where you receive your direct deposits and make Automated Clearing House (ACH) transactions.
Now that we’ve covered the definition, let’s dive even deeper. Do you know who your primary financial institution is? If your answer is no, then I think it’s safe to say they’re probably not doing enough for you. And just like any bad relationship, it’s important to know when it’s time to leave.
How to Choose Your PFI
The number of credit unions and banks around nowadays are ever increasing. For instance, not only are there physical branch locations, but there are plenty of online-only options that exist as well. So, how do you know which is the right one for you?
Here are some things to keep in mind when choosing your PFI:
• You’re the Focus: Your PFI should take a genuine interest in you. If they’re asking you direct questions, don’t be afraid to answer them. It may seem like they’re trying to pry, but their line of questioning is a way to get to know you to better understand you, your needs, and your personal financial situation in order to help you achieve your goals.
• Ease and Convenience: Does your financial institution make banking easy or are they playing hard to get? You should choose a PFI that allows you to bank on your own terms, whether you prefer banking in person or online. Your bank should be keeping up with the latest digital enhancements and technology, especially in these modern times. Online and mobile banking are key to how you conduct banking when and where it’s most convenient for you.
• Products and Services: Sure, you can get a checking account, savings account, or a loan anywhere, but your PFI should go the extra mile to help you spend and borrow wisely. They’ll guide you by providing helpful solutions and insight that lead you on a clear path to financial success.
• Financial Education Resources: Interested in learning more about debt, budgeting, or buying a home or vehicle? Whether it be a live seminar (or webinar) or banking tutorial on any one or more of these topics, it’s important to find a financial institution that offers these kinds of helpful education tools and resources as you navigate through your financial journey.
• Community Involvement: Are they involved in the community? Financial institutions are members of the community, and as such, it’s important that they show support and assist in making their community the best it can be.
The GOLD Difference
Maybe I’m biased, but I think GOLD should be at the top of your PFI list, and I’ll explain why.
At GOLD, we do banking differently than most consumers are used to. So, what exactly sets us apart from any other bank or credit union? To all of us at GOLD, the answer is simple. Our heart is what makes us stand out.
We truly care about you. You are our focus and top priority. We’re here to help you achieve your financial goals, guide you toward reaching your dreams, and assist you in becoming successful however you define it. Through our exceptional personalized service and daily interactions with you, we’re able to better understand and meet your needs over the course of your financial journey.
With GOLD, you’ve got a financial partner for life.
It’s Time to Take Control of Your Finances
If you’re ready to take control of your finances and are considering making GOLD your PFI, we’re here for you every step of the way.
We’ll help you get started with your free GOLD Checking Account, and while you’re at it, be sure to check out our full suite of awesome loan options and enjoy a better way to bank. Worried about switching? Don’t be! Thanks to ClickSWITCH, the process is hassle-free and easier than ever. ClickSWITCH is an automated tool that takes the hassle out of switching. They do all the hard work for you and will work with your depositors and billers to automatically transfer your direct deposits and automatic payments from your old checking account to your new GOLD account.
Don’t waste another day with a bank you don’t love, because you and your money deserve better. You deserve GOLD.