Below, Wallkill Valley Federal Savings & Loan shared their advice on how to make your bank a partner in saving.
Limit Fees
Fees do happen, but there are several ways to avoid some common occurrences:
- Avoid ATM fees by using debit cards or withdrawing cash at a branch location ATM.
- Keep a cushion in your account to avoid non-sufficient funds and uncollected funds fees.
- Be sure to factor in time for your deposits to clear.
- Open a free checking account.
Stay on top of your balance
A minimum balance requirement means that if you drop below the required amount in your account during the month, a fee will be charged. Downloading mobile banking apps can help you be aware of your account balance, and adjust spending accordingly.
Direct Deposit
This is a great way to foster good savings habits. The truth is, it’s hard to miss money you don’t see. By utilizing direct deposit services, allocating a specific portion of a paycheck to a savings account is an easy way to save.
Choosing a bank that values relationships and is willing to help you be more fiscally responsible is invaluable. In many instances, local banks such as Wallkill Valley Federal Savings & Loan tend to be more community-minded, and are willing to invest time into their customers.
To learn more about the community-focused approach to banking at Wallkill Valley Federal Savings & Loan, visit their website or stop by any one of their eight branches across the region.