Teaching your children the importance of managing money?

Our Student Checking is a great account designed to give parents the perfect tool to educate their children on the value of managing money. There is no minimum balance requirement or monthly maintenance fee.

 

Money Tips for Teens

If you’re a teenager, you are in a very powerful position. Starting good money habits now will put you ahead for the rest of your life. Here are 4 tips to get you started.

Start A Money Saving Habit

A habit is something you do automatically; you don’t have to think about it much. If you start the habit of saving money now, that habit will always be with you. Every dollar you get, whether it’s a gift, an allowance, or pay from a job, get into the habit of saving a portion of it.

Understand The Power Of Time

What matters is time and your money has a lot of it. Let’s look at an example: At the end of your summer job, you have $1,000. You invest it at a rate of return of 5%. You don’t contribute another cent for 50 years. At the end of those 50 years, you will have $11,467.49. Time is rarely on our side but it’s on your side if you start now.

Write Down Needs vs Wants

Writing down your needs and wants on a piece of paper will help you prioritize how you're going to spend your money. Budgeting can help you move closer to your goals, whether it’s owning a new pair of shoes or going out with friends for pizza on Friday night.

When You Spend, Shop Smart

Do some comparative shopping and get the best price. If you shop the big sales to buy needed items, your shopping stays focused, and you get more for your money. But don’t buy just because something is on sale. Do you really need it?

Features

• No minimum balance required
• No monthly maintenance fee
• Free Online Banking
• Free Mobile Banking
• Overdraft Privilege¹
• ID Theft Protection¹
• Available VISA Debit Card
• Write up to maximum of 25 checks per month ²
• Other available services

Requirements

• Only for Ages 14 - 17
• $50 minimum balance and parent's co-signature required to open
• E-Statement required

_{¹ Fee may apply.
² Unlimited electronic activity.}