Citizens Community Federal Bank

There are a lot of options out there on how to store and invest your money. It’s hard to tell which banks are financially secure or if you’re putting your money in a trustworthy location. How do you know which ones are right for you and your family?

At Citizens Community Federal we work to ensure that your money is in the best possible hands. Every day we put in the maximum amount of effort needed to achieve the best possible options for our customers. If you’re thinking of securing your money, work with Citizens Community Federal today.

What Is The Difference Between A Checking And Savings Account?

Posted by Anthony B. Tung on April 22, 2018

Comments Off on What Is The Difference Between A Checking And Savings Account?

When asked what type of account you want at a retail bank, do you know where you’re putting your money into? Do you know the difference between a checking and savings account when you put your money into them? Choosing a type of bank account for your needs is essential to manage your money correctly.

Here is our rundown of the two standard options.

Option One: Checking Account
One of the most popular options, a checking account allows a user frequent and easily accessible access to their money. These types of personal bank accounts enable the customer to write checks against your current balance. This is usually done in order to pay for a variety of different goods and services.

If your bank has an option available for online use, you can also pay off bills for this account on the internet anywhere you have a reliable connection. Some branches even have their own application for smartphones!

Another feature that some banks offer for checking account is allowing their customers to have a debit card. These cards enable their owners to purchase goods by directly using money from their account. Debit cards are often associated with a unique pin number used when buying items. These pin numbers are slowly being phased out of use with in-store purchases in favor of cards with chips in them.

The best checking accounts offer minimal fees, restrict the ability to overdraw your account, and require a low minimum balance. However, they have the most moderate amount of interest when it comes to making a return on your money. A checking account is better for storing money then it is for investing.

Option Two: Savings Account
Savings accounts are similar to a checking account and are usually available at any Retail Bank. However, they don’t have easy money access to a checking account does. While you can still manage your money at an ATM, you can not purchase anything at the store from your savings account.

Federal laws currently limit the number of withdrawals that a user is able to per month. This is the same for any transfers made. Each individual gets six transfers or withdrawals total per month.

An ideal savings account has a low minimum deposit and low fees, much like a checking account. However, the best part about a savings account is that they often offer their customers a decent interest rate. This is especially true between the comparison of checking and savings accounts.


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If you’re interested in the services that we offer here at the Citizens Community Federal Bank, then please get in contact with us. You can do so by reaching out through the varieties of ways listed on this page.

Our turnaround time for returning messages, if not immediately, is within a 48 hour period. This time does not include weekends or business holidays.

If you do not hear from us after this point, please verify that you are using the correct information before attempting to contact us again.

Thank you for considering Citizens Community Federal.

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2196 Joseph Street