STUDENT EDITION
A checking account is your go-to account for managing day-to-day spending. Your checking account is where you’ll deposit money from student loans, part-time jobs, or gifts from family members! It’s also where you’ll pay your bills, buy textbooks, get coffee, or treat yourself to a night out.
Having a checking account is more than just a place to stash your cash. It helps you manage your spending by keeping everything in one place. With a debit card linked to your checking account, you can easily make purchases online or in person—and most importantly, keep track of how much money you have left to spend.
Between keeping up with assignments, managing your social life, and figuring out what to eat for dinner, the last thing you might want to worry about is your finances. But the truth is, learning to manage your money now is one of the best investments you can make for your future. The good news? With the right tools and a bit of planning, you can set yourself up for financial success—even while juggling the many responsibilities of college life.
Unsure where to start? We’ve got you covered. The first step to building a strong financial foundation is opening a savings and a checking account. These basic financial tools are key to managing your money and setting you up for success, both in college and beyond.
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 is one of the best steps you can take to build financial independence as a college student. Not only does it give you a secure way to manage your money, but it also helps you develop essential financial skills that will serve you well in the future.
Having a student checking account isn’t just about having a place to deposit your paycheck or loan disbursements—it’s about building the skills and knowledge you need to become financially independent. By using a checking account, you’ll gain experience managing your money, budgeting for expenses, tracking your spending, and planning for your future. These skills will not only help you in college but will be essential as you move forward into the next chapter of your life. Taking control of your finances now, through a student checking account, sets you up for long-term financial stability and success.
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.*
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.
One of the best ways to ensure you’re building your savings and staying on track with your financial goals is by setting a clear goal for how much of your income you want to save versus spend. It’s easy to think about saving as something you’ll do “if there’s money left over,” but in reality, the most successful savers make saving a priority before they decide how to spend. By setting aside a specific dollar amount or a percentage of your income for savings each month, you’re creating a habit that prioritizes your financial future and ensures you’re consistently growing your savings.
Building solid financial habits early in college is one of the best things you can do for your future. By setting clear savings goals, automating your savings, and being mindful of how you handle windfalls or unexpected income, you can create a strong financial foundation. These habits will serve you well not only during your time in school but long after you graduate, as you continue to save for bigger life goals—whether it’s buying a car, traveling the world, or saving for your first home.
It doesn’t matter how small your savings goal is right now—what matters is starting early and making saving a consistent part of your routine. By being intentional with your savings and setting yourself up for success, you’ll give yourself the financial flexibility and freedom to enjoy college life while also preparing for a stable, successful future.
Use our online calculator to see how you can grow your money over time!
*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.