It has now been three months since I began my journey with Financial Beginnings. In my three months of working with the fabulous Melody, Sarah, and our office squatter, Dave, I have found myself to be significantly more aware of my personal finances. Whether we are conversing about where we found a cheap spot for happy hour, tips on how to get through a vacation without breaking the bank, or my recent obsession with Amazon Prime (which I will save for a later post), these people have really gotten me to think hard about my spending and saving habits, and each in their own way empowered me to start making my own financial decisions. As a recent college graduate, I knew the time was coming, and I suppose that time is now.

To start my financial renovation, I plan on considered switching from a bank to a credit union. After chats with my co-workers, meeting some of our fantastic volunteers, and doing a bit of online reading I have complied a list of my own pros and cons that have helped me make my decision for the switch.

Pros:

• Perhaps the biggest pro in my book is the CO-OP ATM Network that includes almost 30,000 cash machines, and shared branching at 4,700 branches around the country.
• Also, credit unions tend to have less fees and lower interest rates for both loans and credit cards, two big hitters for a newly graduated young adult.
• Lastly, I have hear that the customer service, is superb.

Cons:

• Technology. I will admit I am a bit obsessed with technology, but more for the convenience of it all. I am a busy individual, and anything to help me keep my life in order and tone down the chaos is welcomed. I rely heavily on the online baking and iPhone App features that come along with my bank, and am a bit scared I will not find the same features when joining a credit union. Come on, who wouldn’t want to be able to take a picture of their check and deposit it right from their phone?!
• Another aspect I am worried about is what happens when I travel internationally. I can picture my worrisome self, sitting in the middle of London some day just had been mugged and at a loss of what to do next.
• With lower interest rates come less rewards, so it looks like gift cards or air miles are not in my future.

It turns out, at this point in my life, a credit union was the best option for me, and I am looking forward to making that switch!