Reasons to have a local bank
There’s more than one way to bank. Here are the reasons to consider banking locally.
4 min read
Jul 31, 2024
Karen Bennett
Senior consumer banking reporter
EXPERTISE
- Banking
- Personal finance
- Credit cards
EDUCATION
- Bachelor’s degree in English, University of Illinois
- Master’s degree in journalism, Columbia College Chicago
Karen Bennett is a senior consumer banking reporter at Bankrate. She uses her finance writing background to help readers learn more about savings and checking accounts, CDs, and other financial matters.
Karen brings decades of writing and reporting experience to the table, including the roles of credit cards writer for travel website Million Mile Secrets and money and career writer for The Cheat Sheet. Her work has also appeared in USA Today, Illinois Legal Times, and several Chicago, Milwaukee, and Washington, D.C. newspapers. In addition, she’s worked in the areas of marketing and business development, and she was product manager for a consumer money-saving website.
When she’s not writing Bankrate articles, she can often be found cheering her kids on at soccer games, cooking and reading up on saving for retirement and other personal finance topics.
Karen's latest articles
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7 banks that offer free checking accounts (or easily avoidable fees)
There’s no need to pay for a checking account when many banks offer free checking.
4 min read Jul 31, 2024 -
3 ways to take advantage of high CD rates
Locking in a high yield now could be beneficial in the event rates begin to drop.
6 min read Jul 30, 2024 -
What to do when a CD matures
Find out what happens to CDs that are set to mature.
5 min read Jul 29, 2024 -
5 apps that help you manage your subscriptions
Subscriptions are easy to lose track of, but these apps can help restore order.
3 min read Jul 25, 2024 -
Money market account vs. savings account: What’s the difference?
These financial products are very similar but have some key differences.
7 min read Jul 25, 2024 -
Is a spending diet right for you? Here are the benefits and drawbacks
A spending diet can help you pursue your financial goals and save cash. Here’s how.
6 min read Jul 25, 2024 -
What is compound interest?
Compound interest is a powerful force for people who want to build their savings.
4 min read Jul 23, 2024
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What is the average interest rate for savings accounts?
Comparing savings rates can ensure you get the best return on your savings.
3 min read Nov 21, 2024 -
What to do if a bank rejects you for a checking account
Your banking past has come back to haunt you. Here’s how to ask for a second chance.
3 min read May 02, 2024 -
APY vs. interest rate: What’s the difference and why it matters
Here’s the difference between APY and interest rate.
4 min read Aug 31, 2023 -
What is a SWIFT code?
You’ll need a SWIFT code for international wire transfers. Here’s how to find one.
2 min read Aug 14, 2023 -
How to join a credit union: Here’s what to do to become a member
Here’s what you need to do to become a credit union member.
3 min read Jul 18, 2023 -
6 ways to manage finances with multiple income streams
These strategies will help you manage multiple income streams.
4 min read Jul 18, 2023 -
Saving money from your summer job: Top tips for students
These tips can help students maximize savings from their summer job earnings.
3 min read Jul 17, 2023 -
5 tips to make sure revenge spending doesn’t wreck your wallet
As you look ahead to opening your wallet again, consider these key tips for avoiding revenge spending.
4 min read Jul 12, 2023