Establishing Credit


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How to Choose Your First Banking Account

NEW YORK (MainStreet) Whether youre graduating high school or college, chances are good that youre going to be getting your first real bank account. Sure, you might have had some bank accounts designed for teach kids about banking in the past. However, when you get your first adult banking services, youre starting to establish a history. Its important to find the right banking products, but also to use them the right way.

Why You Need a Bank Account

Everybody needs a banking relationship, says Michael Christian, assistant vice president of savings and checking with Navy Federal Credit Union. He believes that being banked is important for establishing credit, but also for paying your bills and keeping track of your finances. Youre not just opening a bank account, youre establishing a relationship with a financial institution, he says.

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