credit unions

5 types of credit union savings accounts

Save as a college student
Save as a college student © wavebreakmedia/

Credit unions usually offer college students certain banking perks -- personal finance tools, branches that are close to campus and free checking.

And savings account perks abound. For example, Chelsea, Mass.-based Metro Credit Union offers its Smart Student Accounts. The Student Savings Account, which pays interest on deposits of $25 or more, also lets you tap into online banking, bill-pay and mobile banking. All monthly fees are waived for students age 18 through 23.

Also, Lansing-based Michigan State University Federal Credit Union has its Spartan Saver account. It gives students access to free mobile banking, online banking and requires a minimum balance of only $5.

Credit unions that cater to students also dish out financial education, so you can get some coaching, Hofheimer says.


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