5 Things to Look for in a New Financial Institution When Moving
This is a sponsored post written by me on behalf of Golden 1 Credit Union.
Before moving, people usually research their new hometown to find a new doctor and enroll their kiddos in a new school. But many people forget about finding the right financial institution to support their current and upcoming needs related to their move.
It’s common for folks to choose a major, nationwide banking institution when setting up their finances in a new town. But that’s not always the best choice; they often miss out on local connections, specialized services, and low-to-no-fee services that make the transition to their new home more manageable. I’ve partnered with Golden 1 Credit Union, California’s leading Credit Union, to share five things to look for when scoping out financial institutions in your new town before you move.
Look for: Tailored Member Service
Find a financial institution that treats its members respectfully and meets each individual’s needs. Every family has unique financial goals. Whether you want to diversify your portfolio, pay off outstanding debt, finance your next home, start a new business, or stash your cash, working with an institution like Golden 1 Credit Union is imperative for good financial wellness.
Working with an employee who takes the time to meet with you in person, understand your financial goals, and create a unique plan for you and your family’s financial journey is crucial. There is no “one-size-fits-all” financial path, and your chosen financial institution must understand how to help you succeed.
Look for: Credit Assistance to Improve Financial Standing
Moving to a new community is stressful. And if your credit score is less than ideal, renting or buying a home, replacing your vehicle, or financing other life events during this transition can be challenging.
With a low credit score, it’s easy to think you are stuck and there’s no way out. Folks are often embarrassed and discouraged that they can’t qualify for major, much-needed purchases because of their low credit scores. An expensive life emergency, lack of education surrounding credit health, and poor spending and saving habits are just a few reasons someone may have a low credit score.
So, if you are in California and find yourself unable to move forward with significant life transitions due to a poor credit score, the employees at Golden 1 Credit Union can help with financial education resources. They’re committed to enhancing the financial well-being of Californians and their diverse communities. Golden 1 also has credit monitoring tools like Credit Sense to help you stay on top of your credit score.
Look for: Involvement in the Local Community
In today’s world, local support for our communities is more critical than ever. In challenging times, communities must unite and create an environment that lifts its members for success.
Choose a financial institution that invests in your new community. Hiring local employees is one step in the right direction when a company wants to support a community. But it is just as important that companies give back in other ways. Golden 1 Credit Union is known for giving back to its local communities through charitable giving, employee volunteerism, and partnering with community organizations.
Look for: Putting Money Back into the Hands of the Members
Every family feels pressure from increased inflation, decreased job growth, and economic uncertainty. With this added stress, people like you and me must be able to save money wherever possible.
Finding a not-for-profit financial institution, like Golden 1 Credit Union, is a big help because it returns earnings to its members – not stockholders – through higher returns on savings, lower interest rates on loans, and more free services.
Look for: Convenience Without Losing Personal Touch
These days, many of us prefer to complete many finance-related tasks from the comfort of our homes and community. Access to mobile and online banking and a network of 30,000 fee-free ATMs make choosing a financial institution like Golden 1 Credit Union a no-brainer. The largest banks in the US have fewer ATMs than the co-op network of Credit Unions. You can even make an appointment online when you do need to go into a branch.
Remember, when moving to a new town, you must have the support of a local financial institution that offers financial tools and solutions with value, convenience, and exceptional service to members. Choose an institution that cares about your economic well-being and helps honest, hard-working families and individuals lead financially better lives, like Golden 1 Credit Union.
Visit Golden 1 Credit Union online to learn more about their services, how they help in the community and more.
This is a sponsored post written by me on behalf of Golden 1 Credit Union.
These are all everything I look for in a bank, We had to move several years ago, and we finally settled on a local credit union because of their combination of service and knowledge. It was a great decision.
That is so great to hear, Beth. A great credit union can really make all the difference.
The list is awesome! Thank you so much for these awesome insights…Involvement in the local community is very important for me.
You’re welcome. Local involvement is so crucial for a thriving community.
We haven’t needed to visit a physical location for our banking so no changes would be needed if we moved.
You are right, it is convenient to be able to complete banking online. Thankful that companies like Golden 1 Credit Union are providing easy online access opportunities as well supporting local communities.
dealing with a low credit score is the worst. When I had an unexpected divorce mine plummeted. If it had been good I could have easily afforded a house at that time, but I had to rebuild. now I have good credit again but can’t afford a house on a single parent income because the prices of homes in our area has actually more than doubled. Bad credit ruins a lot of things. It’s nice when there is suppport/help to rebuild, like you mentioned here.
Rosey, I am so sorry that you have had this experience. Props to you for building your credit back. I hope the market starts to work in the favor of people like you who deserve to be able to buy a home.
Local involvement can also help you fit into the new place you have moved too, and feel better about the move generally. Thank you for all of these tips.
Yes, spot on Jupiter!
I have been with 3 financial institutions – the first two had bad service but I am super happy with the one I am with now. Really hope I don’t need to change any time soon.
I am so sorry, Laura. A bad experience with a financial institution is such a headache. I am glad you were able to find one that makes you happy. Life is so much easier when we bank with an institution that works in our favor.
This is certainly something that may often be overlooked when moving but should certainly be importantly considered. Thank you for sharing your knowledge
You’re welcome, Sarah.
This is so helpful, I’ll definitely remember to look back at this post when needed in the future. Thanks for sharing!
You’re welcome, Lavanda. This will definitely come in handy if you’re making a move to or within California.
Those are all great tips you got there! Local involvement is always important to keep in mind. Thanks for the share!
You’re welcome! Local involvement from businesses like Golden 1 Credit Union is so important for our communities to thrive.
This is the sort of info we all need to know about. This sort of thing can seem very daunting so it is good to find out more from your post.
Yeah it seems like a lot to switch financial institutions, but the benefits really outweigh the work of transfering.
It is so important to find a bank or financial institution that works best for you. These things are all important things to consider x
Yes, totally agree Rhian!