A checking account can be thought of as “outgoing” funds and is traditionally used for receiving payments from others, writing checks and making debit card withdrawals. A savings account is for incoming funds that will be saved. Most people have both types of accounts. Savings accounts typically earn interest and the more money you keep in the account, the higher the interest you’ll earn. CU SoCal offers Classic Checking, Rewards Checking, and a regular Savings Accounts
