*Editor’s note: This year-long series about financial literacy is sponsored by PSECU.
From balancing a heavy course load to planning for life after graduation, you have a lot on your mind as a college student. And while we can’t take away the late nights of studying or choose the perfect career path for you, we can help you with something else that may be weighing on your mind – learning about and improving your money management skills.
In case you don’t know us, we’re a digital-first credit union that provides no- or low-fee financial products, like checking accounts and auto loans, and services, like mobile check deposit and credit score service, to more than 475,000 members across Pennsylvania and beyond. In addition to our high-quality, low-cost products and services, we provide members and non-members alike with free educational resources, like our Online Learning Center, to empower you to manage and grow your money.
There are many ways to maximize PSECU membership as a college student, and we’ve highlighted some of our favorites below. The best part? These can all be effortlessly taken with you after you graduate, so you have access to the financial products, tools, and resources you need now and long after you walk across the stage.
1. Gain access to the financial products and services you need, without the fees.
When you began college, you likely took on new financial responsibilities. On top of making sure your tuition is paid, you may have off-campus living expenses or bills in your name for the first time, such as a cell phone.
We offer an easy way to manage these responsibilities with free checking and savings accounts with online and mobile access, full-service digital banking options, including text and email account alerts, and no fees to open or maintain an account.
Plus, since we’re part of a large ATM network, it’s easy to deposit or withdraw money for free, no matter where you are. Need to use your PSECU debit card, but can’t find an in-network ATM? If you use a PSECU debit card at an out-of-network ATM and get charged, we’ll rebate fees on withdrawals up to $20 per month with direct deposit, and up to $8 per month without.
2. Organize your money the way you want.
We don’t just offer free accounts. We offer you the ability to manage your money in the way that works best for you. Once you become a PSECU member, you can open different “shares” to separate the money you’re hoping to save from the money you’ll need to spend on daily expenses or bills.
Many students find this works well for them, as it works like a digital version of the envelope method. Not familiar with the envelope method? It’s a budgeting technique that allocates cash to envelopes for specific purchases. This can help you stay on top of your spending by giving you a visual reminder of how much money you have set aside for a specific purpose and how much you have left.
Want one place for your new car savings? And a different one for your day-to-day purchases? Renaming a share is quick and easy in online banking by simply changing the description.
3. Get rewarded for using your debit card.
While some banks or credit unions reserve rewards programs for credit card users, that’s not the case with us. We know many college students aren’t quite ready or able to have a credit card on their own. In addition to the credit card reward programs we offer, we also offer perks for our debit card users.
When you use your PSECU debit card, you can earn cash rewards. For eligible debit card purchases of $10 or over, you’ll earn either $.05 or $.10, based on qualifying factors.*
4. Learn about money management on your own schedule.
Checking accounts, navigating student loans, monitoring your credit and more – as you get deeper into managing your own finances, you may feel overwhelmed. That’s where our free educational resources come in.
Whether you’re already a PSECU member or are considering joining, we have a wealth of free on-demand educational resources available to help you understand not only our products and services, but also money management in general.
- Our Online Learning Center hosts more than 30 learning modules that are designed to help you learn about managing money. Each module is designed to take no longer than five to seven minutes to complete and the content is available in both English and Spanish.
- On-demand webinars are available on our website 24/7 so that you can get the information you need at the time that works for you. Sample topics include Intro to Money Management, which is great for students who are just beginning to manage their own finances, and Finances and Future Employment, which helps those preparing to graduate determine how finances will impact their job searching and beginning their career.
5. Take us with you when you graduate.
The best part of a PSECU account is that you can take it with you when you graduate. While you may use them differently, the same products, services, benefits and resources that are available to you as a college student are available to all of our members, no matter your age or stage of life. There’s no time spent closing a student account just to open a new one or hidden fees that appear once you end your college enrollment. The same low- or no-fee products and services you’ve grown to love will accompany you wherever you go, giving you one less thing to worry about once graduation rolls around.
To learn more about the perks of PSECU accounts for college students, visit psecu.com/students.
*You can earn $0.10 cash rewards on eligible purchases of $10 or over with a PSECU checking account and one or more qualifying monthly direct deposits totaling at least $500. You can earn $0.05 cash rewards on eligible purchases of $10 or over for accounts with a PSECU checking account. Certain restrictions may apply. See the Visa® Debit Card Rewards Program Terms and Conditions for full details.
The content provided in this publication is for informational purposes only. Nothing stated is to be construed as financial or legal advice. Some products not offered by PSECU. PSECU does not endorse any third parties, including, but not limited to, referenced individuals, companies, organizations, products, blogs, or websites. PSECU does not warrant any advice provided by third parties. PSECU does not guarantee the accuracy or completeness of the information provided by third parties. PSECU recommends that you seek the advice of a qualified financial, tax, legal, or other professional if you have questions.
Sponsored by PSECU