A: It depends if you are opening an account at a bank or credit union.
If you are opening an account at a bank, then no, banks do not have any requirements that you have to be a resident of a specific city or county.
If you are opening an account at a credit union, then, yes, credit unions only serve people who live, work, worship, or attend school in a specific geographic area. Or, they may only serve specific companies or occupations, such as teachers. Ask the credit union you are interested in what “their field of membership is;” but do not be discouraged by this. Credit unions are very flexible with membership.