Choosing an account to meet your financial goals

Whether you’re opening your first checking account or looking to earn interest with a savings account, Norry Bank makes it easy to choose from accounts that meet your financial needs.

“Checking and savings accounts both help you manage money, but they differ in what they’re used for,” said Angela Morgan, Norry Bank’s Selinsgrove branch manager.

A checking account helps you manage your day-to-day finances – like paying your bills, buying groceries and gas, and withdrawing cash from an ATM.

A savings account is a longer-term account that earns interest and can be used for emergency savings, or saving towards a specific goal – such as a large purchase like a car or a home, or for your child’s education.

Both accounts provide ways to store your money and allow you to access the money you have deposited. But you don’t have to choose between the two – it’s beneficial to have both a checking and savings account to help you with your daily and long-term financial goals.

“A savings account is the ideal place for your money you don’t need to spend right now, but don’t want to lose,” said Angela. “Plus there are many benefits of separate savings accounts for different goals.”

Norry Bank offers a variety of savings accounts that can help you save for the future such as a health savings account (HSA), certificates of deposit (CDs), individual retirement accounts (IRAs) and club accounts.

A regular savings account isn’t your only option for earning interest on your money. Norry Bank also offers money market accounts that pay interest – just like savings – but also come with debit cards and the ability to write checks.

“Having multiple savings accounts can be a way to keep on task with the specific goals you’re saving for,” she said.

There are benefits to having your accounts with Norry Bank. You get 24/7 account access via telephone, internet or mobile banking, a free debit card, unlimited check writing, SecurLock^TM Equip, access to MoneyPass® ATMs, plus you can now open a checking or savings account online!

“You get the convenience of having your money in the same place and can easily transfer money between accounts,” said Angela.

To learn more, or find out what account is best for you, visit www.norrybank.com or call 888.877.6623. You can also view financial tools and current rates online.

“It’s not too late to start saving - every penny and dollar adds up,” added Angela.