In choosing a financial institution, you should consider the traditional three Cs of banking: costs, convenience, and consideration.

Cost: How expensive is it? What are the monthly fees? Minimum balances? Charges per check? Balance dependent scaled fees? Interest rates received on deposits? Interest rates charged on loans?

Convenience: How convenient is it for you to work with the institution? What is the availability of branches and ATMs? Are they close to your home and work? Does the institution offer overdraft protection, safety deposit boxes, credit cards, etc.?

Consideration: The consideration factor is about personal attention. Does the institution offer personalized financial advice and give attention to detail? How important is it that a bank officer remembers your name and is happy to work with you?

The options for choosing a financial institution are many and varied. It is critical that you understand your goals and then work with the institution—or institutions—that offer you the most benefits. Note that whatever institution or institutions you choose; it is your responsibility to make sure that they do what they say they will and do it correctly.