Transitioning from high school to college is a growing pain for both parents and students alike—from moving to a different city, making friends and learning the ins-and-outs of campus, it’s a life event that could make anyone’s heart skip. But one aspect of student life that shouldn’t be stressed about is banking. Over this change, parents are teaching their kids about the importance of money and setting them up with a credit card or checking account. Instead of looking for a bank with low fees, free transactions, and perks—why not check out a credit union who offers all that a bank does and makes it stress-free, especially for college students?
Illustration by Anna Deinek
What is a Credit Union, and What Do They Do?
Credit unions are non-profit, member-owned organizations that strive to help people with one-to-one interaction with all of its members. Just as a bank does, credit unions allow you to deposit checks, take out loans, open checking accounts, and more but provide a more human touch.
“ Ultimately, whether you are a parent of a college student or a student-to-be looking for a stress-free way to the bank, look no further than a credit union.
Credit Unions and Their Perks for Students
Credit unions offer a variety of opportunities for college students. Many provide scholarship opportunities, online banking, free ATM access, and no monthly service charges. By utilizing new technology, they’re making banking easy and accessible from the palm of your hand—in or out of class.
Photography by Chi Nwosu
Credit Unions on College Campuses
Some students are fortunate enough to have a credit union on campus. The perks can include membership for life, free checking accounts, private student loans, low-rate auto loans, digital banking, and more. Who wouldn’t want that?!
Ultimately, whether you are a parent of a college student or a student-to-be looking for a stress-free way to the bank, look no further than a credit union. They have your back and are here to help you on your college journey and as you move further into adulthood. So, what did we learn today? Credit unions are fantastic for students and come with many perks; their motives are better, and they are just as easy to reach as big banks. Most students can apply to a credit union on campus or at a location nearby. What are you waiting for?!