Bank Accounts

Do you have a checking account, or a savings account in your bank? I've got a savings and checking in a credit union, and just a checking in bank. Why do I have two different checking accounts? Well, one is in the city where I live so is handy to me, and the other is in a town about 25 miles from here, where I used to live years ago. When I went to buy my first home I went to the bank I was using at the time to get a mortgage. They turned me down, not because they didn't think I'd be good for it, but because the house was just a wee bit under 1000 square feet. That bank held the mortgage that was on the house I wanted to buy, but had changed their rules since then. So, I went to the bank and withdrew every penny of my over $4,000 and closed my account. I went back to the town I'd once lived in, where I still had an account from 'back then' and applied for a mortgage. They said I didn't need a co-signer with the credit rating I had, but if my parents would co-sign for me they could give me one. You see, there was a credit union here, three of them now, so in order for the out of town credit union to be legally able to give me the mortgage, we had to use this 'loop hole'. We used the same loop hole when some years later I sold that home and bought the one I'm in now. After all these years, I still like to go back and use that financial institution.

I don't find a lot of difference between the two checking accounts, they work about the same way. You put money in and then you take it out. The biggest difference is that one costs me nothing, no service charges or anything. The other has a small service charge every month.

I'd just like to point something out before I sign off here. In the USA, they spell this word "check" or "checking" while here in Canada it's spelled "cheque" or "chequing". Because this is a sponsored post, well, at least the topic was, lol, and the bank is in the USA, I chose to spell it their way this time.