4 Questions to Ask Before Choosing a Bank or Credit Union

Your financial institution should be more than a place that holds your money. It should be a partner you can trust to help you reach your goals, protect your hard-earned dollars, and support you as you move forward in civilian life.

Here are four key questions to ask when deciding if your bank or credit union is the right fit for you.

1. Is it insured?

Safety comes first. If your bank is insured by the FDIC or your credit union is insured by the NCUA, your deposits are protected up to $250,000 per depositor, per institution. That means if the bank or credit union fails, your money is covered.

👉 Before you open an account, check the FDIC’s BankFind or NCUA’s Credit Union Locator to confirm coverage.

2. What fees do they charge?

High fees can quietly drain your account. Look closely at:

• Monthly maintenance fees

• Overdraft or insufficient funds fees

• ATM and transaction fees

A trustworthy institution is upfront and transparent about their costs, and many offer no-fee or low-fee accounts designed with Veterans and military families in mind.

3. What security protections do they have in place?

With more banking happening online, cybersecurity is a must. A trustworthy financial institution should offer:

• Fraud monitoring

• Two-factor authentication

• Encrypted transactions

• A clear, accessible privacy policy

These protections help keep your money and personal information safe from hackers.

4. Do their values align with yours?

It’s not just about products and services. Take a look at the bank or credit union’s mission, community involvement, and reviews. Are they committed to supporting Veterans, families, or causes that matter to you? Do they put the customer first, or are they focused only on profits?

Finding a financial institution whose mission and values match your own builds trust and makes the relationship stronger.

Bottom Line

Your bank or credit union should give you confidence, not stress. Asking these four questions will help you decide if your institution is the right one to partner with as you work toward your financial goals.

Want more support on your journey? Take the Veteran Saves Pledge today and we’ll send you resources, reminders, and encouragement to help you build savings and financial stability step by step.