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  1. My wife and I bank local at a credit union because we don’t pay any fees and only have to keep a minimum $5 balance in our accounts. We do this for our personal and business accounts. We don’t travel much so we don’t need access to local branches in other cities or states.

    I also have a high-yield online savings account from an online bank which is where we keep our emergency fund and long-term savings. We don’t pay a fee on these accounts and earn significantly more interest on our deposits than any local brick-and-mortar institution.

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