Bank Products
Banks and credit unions can provide a safe and convenient way to accumulate savings—and some banks offer services that can help you manage your money.
Deposits at banks and most credit unions are federally insured up to a limit set by Congress. And transaction (or checking) accounts and deposit accounts offer liquidity, making it easy for you to get to your funds for any reason—from day-to-day expenses to a down payment or money for unexpected emergencies. In addition to being insured by the FDIC, checking accounts let you transfer money by check or electronic payment to a person or organization that you designate as payee.
But remember, the interest you earn from bank products—including certificates of deposit (CDs)—tends to be lower than potential returns from other investments.