​Financial institutions like credit unions and banks provide services like checking and savings accounts. If you have decided that a checking or savings account is a good choice for you, this information will help you make informed decisions.

Choosing a place open checking and savings accounts

• Consumer Financial Protection Bureau Checklist: Use this checklist for opening a bank or credit union account to make sure you have the required paperwork.
• Federal Trade Commission Bank Accounts: This video shows how someone compares the costs when choosing a place open savings and checking accounts.
• Minnesota Department of Commerce: These consumer-focused tools and tips will help you make wise financial decisions, avoid scams and protect your personal financial information.
• Beware of Payday Loans: Although the quick cash promised by payday loans may sound attractive, consumers should make sure that they know what costs they are agreeing to pay before signing up for such loans.

 Understanding rights, responsibilities and fees

• Consumer Financial Protection Bureau Bank Accounts & Services: Answers to frequently asked questions about things like avoiding overdraft fees and what to do if someone took money from your bank account without permission.
• Federal Deposit Insurance Corporation Deposit Insurance: The FDIC is an agency of the U.S. government which protects funds placed in insured banks and credit unions. The videos explain deposit insurance and how to know if your money is in a protected account.

Dakota County resources

• WINcentive Savings: Available exclusively to credit union members, monthly, quarterly, and annual prize drawing entries for every $25 you save (up to four entries per month). Prize drawings occur monthly, quarterly and annually.
• Second Chance Checking: Banking mistakes can put you on a list held by the ChexSystems reporting agency. Banks will look into your history for past mistakes. Mistakes make it more likely you will be denied an account. Some banks and credit unions offer "second chance" checking accounts for people in this situation. The accounts can help people rebuild their banking histories, but they don't have all the services that come with regular checking accounts. Check all fees and requirements before deciding to apply for these products.