Credit union membership doesn’t have to end when you go away to school. In fact, it becomes more relevant than ever! Enjoy our convenient services anywhere, with multiple ways to access your money:
• Free Visa Debit Card – accepted worldwide!
• Low – Cost Visa Credit Card – perfect for books and other expenses.
• Free Online Banking & Bill Pay – Keep track of your accounts and pay bills online.
• Free Mobile Banking – Bank using your smartphone.
• Sprig – Receive transfers into your account, make mobile deposits, and more.
• ATMs & Shared Branches – Take care of transactions at any CO-OP network location
What New Grads Need to Know About Money
The majority of high-school and college graduates are ill-prepared to handle the basics of financial management.
Everything from credit cards and loans to simple budgets puzzle young consumers, even educated ones. Some exerts propose state legislation requiring students to take a personal finance course by the time they graduate from high school. Until then, it’s parents’ responsibility to teach their kids financial basics and help them make the right choices.
These are key money skills young grads need to know:
• Track spending. Write down everything you buy for a month to see where and tow much you’re spending.
• Budget. Look at your income and spending Habits. Allocate for weekly needs, wants, and impulses within your budget. Surprises happen, so let yourself break the budget. Just remember to make up for it in the coming weeks.
• Use your checking account to help budget and track income and spending. You need to know how to write a check, how to keep a check register, and when to balance your account. Remember there are consequences for overdrawing an account.
• Develop good consumer skills to make money go further. Buy necessities wisely and practice J comparison shopping by looking / online.
• Remember, credit cards are convenient but risky. Credit means you’re borrowing money to repay from future income. Credit is a cost, and making the minimum payments will cost you even more. Credit cards are accepted universally and are good to have in emergencies. They also help establish credit history, so make sure to set personal limits and stick to them.
• Don’t be afraid to ask for help. Mom and Dad, your R.A. (resident adviser), or even a friend can help you sort through your bills and get on the right track.
