The other day in a meeting we were talking about our checking account and someone asked “Now, when you say CHECKING you also mean debit, home banking, bill pay, etc…right?” What a great question. When is the last time you went to the market and stood behind some young person writing a check? I mean our members probably still write checks because their average age is 48 and climbing  but isn’t it time we renamed checking?

I’ve said it before and I’ll say it again – banking is an errand. Our members don’t get to come to the credit union, they have to. And the center of that errand universe is the checking account. Raise your hand if you’ve moved your checking account recently? And I say “moved” because when we open a new account for a member, rarely is it their first ever checking account. They have chosen to move their financial life. There is no bigger pain in the ass than moving your checking account in my opinion.

It used to be as simple as leaving some money in the old account – stop writing checks – and give me a few temporary checks to get me by. Oh, and move my direct deposit. Done.

Today I have to call my wine club with my new debit card number that I probably won’t get for two weeks. Then I have to remember to get online and change my card on my Netflix account. Oh, and re-enter my mortgage information on Bill Pay. Not to mention my stored information on my Amazon.com and Zappos.com records. Temporary checks? What do I do with those? Just try and buy a tank of gas with a temporary check.

I don’t write checks. I try to make my life as automated as possible – so when it comes to changing that world….don’t you dare hand me a switch kit. I have yet to see one that helps me out – instead it just illustrates how difficult this is going to be. Out of respect for this act, I propose we rename checking.

We need to be able to easily complete this sentence:

“I’m going to the credit union to deposit this in my ______________ account.”

Money account?
Transaction account?
Settlement account?
Bluetooth account?

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