STUDENT EDITION
Savings accounts, checking accounts, student loans, and budgeting – oh my! Thinking about money – how to earn it and what to do with it – can feel overwhelming but with the right tools you can be financially successful.
Unsure where to start? We’ve got you covered. The first step is opening a savings and a checking account to lay the foundation for a strong future!
Student Savings Account
It’s never too early to start saving for your future! A good rule of thumb is to “pay yourself first” but if you don’t have a plan to save your money, you are less likely to build your savings account.
Set a goal for how much you want to set aside for saving versus spending. This could be a set dollar amount each month or a percentage of your income but either way, make it automatic. That way, the money automatically goes into your savings account, and you don’t see it as available for you to spend. Also think about graduation, holiday, and birthday gifts – if you get cash, pay yourself first by saving a portion.
This savings account will come in handy if you have an emergency such as a car repair. Or better yet, it will make a nice down payment on your next vehicle or first home!
Use our online calculator to see how you can grow your money over time!
Student Checking Account
As your first solo account, a Members Trust Student Checking Account is a great way to get started managing your own money. Having a student checking account can help you establish financial independence and gain experience. This is your transaction account – the account you’ll use to make purchases and pay bills.
Look for a checking account with no or very low fees so you can maximize your money.
Our Student Checking Account is designed specifically for members ages 16-22.
- It takes just $25 to open
- No monthly service charges
- No minimum balance requirement
- FREE mobile app and online bill pay
- Debit Card
Open a new checking account in April and we’ll match your initial deposit up to $25.*
*Students ages 13-17 will need a joint signer on the account; however, students ages 18-22 are eligible to open the account on their own. To qualify for matching cash up to $25, you must be a member in good standing and open a new student checking account between April 1 – 30, 2024. The minimum opening balance requirement is $25. Bonus is considered interest and may be reported to IRS Form 1099-INT. Please consult your tax advisor on any legal, tax, or financial issues. Offer ends 04/30/2024.