Start with the basics. Open a Share Savings Account with a $1 deposit to make you a member. As a member of Ideal Credit Union, you have access to many value-added services, special discounts and access to an extensive surcharge-free ATM Network. Then explore all the student product suite has to offer including, checking, a special loan, high-earning CD to save more cash, mobile banking and so much more.
Free Student Checking
The free Student checking account is designed especially for high school and college students who are ready to take control of their money and their financial future. Students High School age - 24 can take advantage of this great account and enjoy:
$50.00 Minimum Opening Deposit
For those with the future in mind!
With a FREE Student Checking Account, you can open a Student Savers CD which earns a huge rate of 2.00% APY! The special Student Savers Certificate of Deposit (CD) was designed to stress the importance and benefits of savings by paying a high rate of 2.00% Annual Percentage Yield (APY) you won't find anywhere else.
The Student Savers CD is available only for members age 14-17. The CD matures on your 18th birthday, so the 'term' (how long you have the CD) depends on when its opened. Funds will be deposited into the Share Savings Account during the month of their 18th birthday.
The fine print:
*The Student Savers CD must be in the teen’s name and only one Student Savers CD per teen can be opened. The minimum opening balance is $25 and additional dollars can be added at any time, up to the limit of $1,000. Restrictions apply because this Certificate is intended to be used only for the teen’s own money. Student must have a Student Checking account in good standing to qualify for Student Savers CD. If the student needs to cash in the CD prior to their 18th birthday, a penalty of 100% of the interest earned will be assessed.
Jump start your credit history
Ideal Student Credit Union offers a special loan for those looking to establish credit and build a solid financial foundation. A sound credit record can help in applying for jobs, house or apartment rentals, credit cards, auto and other loans, and much more later in life.*
Here’s how it works:
- Loan is granted up to $2,500 for up to 18 months. No credit check required.
- Funds from loan are then placed on a hold in your savings account.
- Monthly payments are made to loan to help build credit
- Once loan is paid in full, the funds on hold in your account are released and now are yours to use!
The fine print
*Loan funds are held in the share savings account until the loan is paid in full. Loan rate varies as share rate changes. Monthly or biweekly payment options available. If delinquency exceeds 61 days, share account will be cashed out and the loan repaid in full. Autopay may be required. Terms and conditions of the Credit Builder Loan are subject to change. Not all members will qualify. Depending on members’ specific circumstances, it is possible that not all members will have a stronger credit record at the end of the term
Ideal Credit Union offers student loans
In partnership with Sallie Mae, Ideal CU offers a student loan option after FAFSA has been awarded. Learn more about out student loan financing.