PERSONAL FINANCE PROJECTDeAnna Gregory

Mrs. MotonMay 31, 2013

My Three Financial Institutions

SRP Bank of America First Citizens Bank

SRP

SRP is located in both South Carolina and Georgia, and has several branches in Aiken.

Locations include: 750 E. Pine Log Road, 3559 Richland Avenue, West, 3515 Richland Avenue, West, 390 Rutland Drive, and a few others.

The members are the heart of this credit union and SRP is very dedicated to them.

Every account is federally insured by the National Credit Union Administration (NCUA), up to $250,000.

Personal information is always very secure. There are several online services with SRP, including but

not limited to paying bills online, E-Statements, reordering checks, and seeing VISA balance and history.

Members can easily access SRP through a mobile device.

SRP

Loans: New and Used Auto

Loans Platinum Line of Credit Personal Refinancing Credit Cards Recreational Vehicle Home Equity Mortgage

SRP Loan Practices: Use the philosophy of

“People Helping People.” Keep loan rates as

competitive and reasonable as possible to get the customer the best deal.

SRP loans are calculated with simple interest, which means that you pay interest only on the outstanding loan balance.

Benefits of Using SRP Member Services: Deposit ATMs Direct Deposit Financial Counseling Mail Service MEMBERS Financial Services Night Deposits Notary Public Payroll Deduction Personal Auto Consultant SRP Online Safe Deposit Boxes Statements Traveler’s Cheques TYME Line VISA Debit Card Wire Transfers

Bank of America

Different Services of Bank of America: Checking Savings Home Loans Credit Cards Investments: These products are NOT FDIC insured, are

not bank guaranteed, and may lose value.

Bank of America

Bank of America locations are everywhere in America

Local locations include but are not limited to:

4435 Jefferson Davis Highway 3549 Richland Avenue NE 436 Fabian Drive 1795 Whiskey Road

Benefits of Bank of America

With Platinum Privileges, you have access to:

A dedicated customer service team at the Platinum Service Center

No fees on select banking services higher rates on Platinum Money Market Savings accounts.

Higher rates on select CDs & IRAs Special relationship benefits on home loans. Get more cash back for the things you buy most.

First Citizens Bank

Personal Solutions: Checking Savings Loans Mortgages Credit Cards Online Banking Mobile Banking

First Citizens Bank

Business Solutions: Checking Savings Loans and Leasing Credit Cards Merchant Services Cash Management Retirement Plan Services Online Banking

First Citizens Bank

Wealth Management: Investments Capital Management Private Banking First Citizens Securities Retirement Plan Services Monthly Economic Review

First Citizens Bank

First Citizens Bank is also a national bank Locations near Aiken include but are not

limited to: 1715 Whiskey Rd 708 Silver Bluff Rd 125 Park Ave Sw

Benefits of First Citizens Bank

Provides wealth management, trust and retirement services for their customers.

Offers a wide range of banking services for individuals and businesses

Offers brokerage and investment services through First Citizens Securities Corporation.

Comparisons

First Citizens Bank has several different financial plans, but they aren’t as flexible as SRP’s. Also, their website isn’t as straightforward as SRP’s and can be confusing if you aren’t exactly sure what you’re looking for.

Bank of America also has this website problem, but even more so. There aren’t many options on the home page for where to go to get help. You can’t do much online as far as payments go either.

Overall SRP was the best fit for my personal needs, as I can’t always go straight to the credit union and often need to manage things online.

Why I Chose SRP

I chose SRP for my financial institute for a few reasons:

Opportunities for financial help for youth. Flexible financial plans and loans. Very secure banking. Customers are top priority at SRP. Easy to access online or through a mobile

device. There are several very conveniently located

branches near my area.