• Eagle One Federal Credit Union

    Eagle One Federal Credit Union Membership

    • Eagle One Federal Credit Union is headquartered in Claymont, Delaware and has been serving members since 1935.
    • Manages $92.79 Million in assets and serves over 9,000 members.

    Membership: Persons who live, work (or regularly conduct business in), worship, or attend school in, and businesses and other legal entities located within specific geographic areas.

  • East End Food Coop FCU

    East End Food Co-op Federal Credit Union Membership

    • East End Food Cooperative Federal Credit Union is headquartered in Pittsburgh, Pennsylvania has been serving members since 1993.
    • Manages $1.31 Million in assets and serves over 400 members.

    Membership: Live, work, or worship in the service area or work with partner organizations.

  • American Heritage Credit Union

    American Heritage Credit Union Membership

    • American Heritage Federal Credit Union is headquartered in Philadelphia, Pennsylvania and has been serving members since 1948.
    • 5th largest credit union in Pennsylvania, managing $4.69 Billion in assets and serving over 305,000 members.

    Membership: Eligibility includes if you live and work in specific areas, are employed by a partner company, or are related to an existing member.

  • Citadel logo

    Citadel Federal Credit Union Membership

    • Citadel Federal Credit Union is a community-based financial institution providing savings, checking, consumer loans, mortgages, credit cards, and more.
    • Pennsylvania’s 4th largest credit union with assets totaling $4.26 Billion and serving more than 216,000 members.

    Membership: Live, work, worship, or study in select Pennsylvania counties.

  • Members 1st FCU logo

    Members 1st Federal Credit Union Membership

    • Members 1st Federal Credit Union is a member-owned financial cooperative providing financial banking services.
    • The 3rd largest credit union in Pennsylvania with assets totaling $5.32 Billion and providing banking services to more than 451,000 members.

    Membership: Open to individuals who are eligible by living, working, or worshipping in locations served.

  • Police and Fire FCU logo

    Police and Fire Federal Credit Union Membership

    • Police and Fire Federal Credit Union provides financial banking services such as loans, investments, savings, credit, and loans.
    • The 2nd largest credit union in Pennsylvania with assets totaling $6.31 Billion and serving over 347,000 members.

    Membership: Open to active and retired Philadelphia police officers, firefighters, and select employee groups, associations, and organizations in the State of Pennsylvania.

  • PSECU logo

    PSECU Membership

    • PSECU is a member-owned financial cooperative providing banking services.
    • The largest credit union in Pennsylvania with assets totaling $7.07 Billion and serving over 473,000 members.

    Membership: Attend, graduate of or work at one of Pennsylvania’s many colleges or universities and employees.

What is Banking?

Banking is a form of money management using products and services related to savings and loans.

Different Types of Financial Institutions


Banks are what we typically associate with banking. They come in different sizes: local, national, traditional and online-only. Federal or state agencies supervise banks. The FDIC insures deposits of participating banks.

Credit Unions

Credit unions are not-for-profit financial institutions. They offer products and services similar to banks with a focus on member service, not profit. The NCUA insures deposits from participating credit unions.

Alternative Financial Services

Many fintechs are non-chartered financial services companies that offer banking services. You might think of them as an app offering checking and savings accounts, debit cards, payments, etc. They are not banks but work with partner banks or credit unions to hold your deposits.

Types of Banking Accounts

Banking accounts help make financial transactions convenient.

Savings Account

A savings account helps you save your money. You’re storing your money for future use and hopefully earning a reasonable interest rate. Interest is the money you earn for letting the bank keep your money. Some financial institutions impose minimum deposits, withdrawal limits, and fees.

Checking Account

A checking account is a transactional account that allows you to make deposits and withdrawals of your money anytime. Checking accounts is not the best place to store your money, as the goal of the account is for use, not saving.

Most checking accounts do not pay interest, but some do. Be mindful of transaction limits, minimum balance requirements, and fees.

Debit Card

Checking accounts come with a debit card enabling you to spend your money conveniently. A debit card allows for making purchases at stores and online shopping. You can only spend the money that’s in your checking account. Additionally, you can use your debit card at ATMs to make deposits, withdrawals, check balances, and transfers between accounts.

Money Market Account

A money market account is a type of hybrid savings and checking account. It tends to have higher deposit requirements but often pays more interest than a savings account.

Certificate of Deposit (CD)

A certificate of deposit, also known as a CD, helps you save money with a set interest rate for a specific amount of time. Your cash is term-locked. In exchange, you get a higher interest rate compared to a traditional savings account. Certificate terms can start at 30 days and go to 5 or more years.

How to Choose the Best Banking Service

You have many choices on the type of account to use and the variety of financial institutions available. So, shop around. Ask the following questions to help you narrow down your choices:

  • What are the products and services offered?
  • What are the fees?
  • Are there minimum balance requirements?
  • Do I need a physical location (like a branch) or prefer better mobile app services?
  • Does local banking matter or is national big bank convenient?
  • Are deposits FDIC or NCUA insured?
  • How to access your money?
  • Debit card? ATM network?
  • Can I set auto-transfers, auto-payments, and alerts?

You want to determine how the banking provider aligns with your needs, the cost of services, safety, security, and overall convenience.

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