Most people use their financial institutions for the basics: saving and checking accounts. But, you could be missing out on some great services and benefits, if you don't ask the right questions. Suzanne Klenk from Washington State Employees Credit Union joined Margaret to talk about the five questions everyone should ask, whether they use a traditional bank or credit union.
For more information about Washington State Employees Credit Union, visit their website: www.wsecu.org
Email Suzanne with your financial questions, or to arrange a free financial workshop for your business or organization: SKlenk@wsecu.org
Here are Suzanne's notes for today's segment:.
Question #1: What new services have you added or improvements to service have you made in the last 12 months?
Suzanne: New and/or improved services are important to know about. Often they are geared toward making your life a bit easier and improving service….and at no cost to you. Ask to have the upgrades applied to your accounts and make time to have a member service officer explain the benefits.
Question #2: What type of Financial Planning and Retirement Planning services are available?
Suzanne: Financial Planning and Retirement Planning are a must these days. But many of us are intimidated by the process and feel like we don’t know where to begin. At WSECU these services are a benefit of membership and they should be available at your financial institution as well. Make an appointment for a free consultation for both your monthly finances and your retirement preparation. Make sure to get a full disclosure of any cost or fee schedule if there is one.
Question #3: Do you offer discounts on Life and Accidental Death and Dismemberment Insurance?
Suzanne: Insurance is a necessary, but it can be really expensive. As a credit union member, you are eligible for discounts and special rates. Check with your financial institution to see what they have available…do some comparison shopping and then make changes if it makes sense. Often the savings and extra features are a nice surprise!
Question #4: What’s coming down the road in the way of new services?
Suzanne: Knowledge is Power! Find out what your financial institution is working on to better serve you. Knowing about what is coming soon will allow you to take advantage of the service as soon as it is implemented instead of finding out about it a few years later. We don’t want to miss out on savings or convenience even for a moment if we don’t have to.
Question #5: Mobile Apps! What can you do to get me connected and free?
Suzanne: Mobile apps are the present and the future. Your financial institution should be able to get you securely connected to your money; savings, checking, bill payments and investments! Make sure that there are no fees involved or limits to transactions. Also, it is important to make sure your mobile device is secure. Convenience comes with added risk, but as long as you are diligent with passwords and locking your mobile device, you should be well protected.