Consumers Credit Union Student Choice Checking Account: Features and Benefits

Consumers Credit Union (CCU) offers a range of checking account options designed to fit various lifestyles, with a particular focus on helping students build a strong financial foundation. CCU distinguishes itself as a not-for-profit financial cooperative, prioritizing its members' financial well-being through better rates and personalized service. This article explores the features and benefits of the Student Choice Checking account, along with other checking account options available at Consumers Credit Union.

The Consumers Credit Union Difference

Consumers Credit Union operates on a "people first" approach, owned and operated by its members. This structure enables CCU to provide lower loan rates, higher deposit rates, and personalized service, always keeping the members' best interests in mind. Founded in 1930 and headquartered in Lake Forest, IL, Consumers Credit Union holds $4.3 billion in assets and serves more than 268,000 members. CCU believes in accessible banking solutions, whether online or in person, and offers services like shared branching for convenient access.

CCU is also recognized as a Great Place to Work®, emphasizing its commitment to employees' financial success through competitive pay, robust retirement plans, performance-based incentives, and financial wellness programs.

Eligibility and Access

Consumers Credit Union extends its services to everyone, regardless of location or financial background. Applying for an account online is a quick process that doesn't impact your credit score. The secure CCU digital portal and mobile app allow members to manage their accounts anytime, anywhere, with advanced encryption and fraud protection resources. CCU offers flexible deposit and withdrawal options, including direct deposit, mobile check deposit, ATMs, and in-branch services.

Student Saver Checking: A Head Start for Young Savers

The Student Saver Checking account is designed for kids aged 10 to 17, offering a perfect way to learn about managing money. It provides a debit card, allows easy tracking of funds, and sets the stage for developing good financial habits early on. For students ages 10-15, an adult is required as a joint accountholder, while it is optional for those aged 16-17.

Key Features of Student Saver Checking:

Accessibility: Access your account 24/7 via Online Banking, Mobile Banking, and the Audio Response system. Live representatives are also available by phone.
Debit Card Controls: Parents listed as joint accountholders have access to the same alerts and debit card controls as the primary accountholder.
Spending Limits: A built-in $500 daily limit on combined ATM, Signature, and Point-of-Sale transactions helps manage spending.
Zelle® Integration: Zelle® is available for Student Saver Checking members under the age of 18 (but is not intended for children under 13), allowing for easy electronic money transfers.
Bonus: A $25 bonus for opening an account

Helping Teens Build Financial Skills

CCU’s Student Saver Checking account is a smart way to help teens (ages 13-17) build financial skills.

No monthly service charges.
No minimum balance required.
Free debit card with no monthly fee.
Report card rewards: A = $2 B = $1 C = $0.50.
Use anywhere Visa is accepted

Zelle®: Fast and Convenient Money Transfers

Zelle® offers a fast and convenient way to send and receive money electronically with friends, family, and others you trust, even if they bank at different institutions. It's accessible for members with Members Choice Complete Checking®, Daily Checking, and Student Saver Checking accounts.

How to Use Zelle®:

Log into the MCCU Houston TX app or online banking.
Select "Transfer and Pay" in the main menu.
Enroll if you haven't already, following the instructions provided.
Start sending, requesting, or receiving money.

Transactions between enrolled users typically occur in minutes. MCCU does not charge any fees for using Zelle®.

Other Checking Account Options at Consumers Credit Union

CCU offers a variety of checking accounts to suit different needs, all designed with member convenience and financial success in mind.

Rewards Checking

CCU’s free Rewards Checking account is a tiered rate account based on qualifying activity. For balances from $ .01 - $10,000, the rate is based on qualifying activity and can range from 3.00% - 5.00% APY if minimum qualifications are met. For all tiers, if minimum qualifications are met, balances from $10,000.01 - $25,000.00 earn 0.20% APY and balances $25,000.01 and greater earn 0.10% APY. Please see all terms and conditions on qualifying rate tiers. Fees may reduce earnings. No minimum balance required. **Minimum $5.00 opening deposit required.

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Serious Interest Checking

This account earns higher interest on balances up to $15,000 when you have 12 posted debit card transactions per month, a $1,000 average daily balance, $1,000 minimum recurring monthly direct deposit and eStatements.

Additional Features

Shared Branching: CCU members can use other participating credit union locations to make deposits, withdrawals, loan payments, or transfers.
CO-OP ATM Network: Convenient access to cash through the surcharge-free CO-OP ATM network.
TellerPlus+ Stations: Access to remote tellers at drive-thru locations and some offices.

Financial Education Resources

CCU is committed to financial education, offering resources like Banzai Junior for kids aged 8-12 and Banzai Teen for those aged 13-18. These interactive programs teach essential financial concepts through engaging storylines and activities. CCU also offers presentations tailored to different age groups and learning objectives.

Tips for Choosing a Checking Account

Choosing the right checking account can save you money and provide the services you need. Here are some questions to consider:

Is it free? Look for accounts with no monthly maintenance fees, such as Consumers' free checking options with eStatements.
Does it earn interest? If you want your money to work for you, opt for an interest-bearing checking account.
What services are included? Consider the services offered, such as online banking, mobile banking, and bill payment.
What incentives are offered? Look for accounts with valuable incentives, such as rewards programs or bonuses.
How do I get overdraft protection? Choose an account with overdraft protection options to avoid fees.
Will this checking account be convenient for me? Consider the accessibility of branches and ATMs, as well as online and mobile banking options.
How is customer service? Choose a financial institution that provides personalized customer service.

Overdraft Protection

Protect your account with overdraft protection. CCU doesn’t charge monthly maintenance fees, saving you money each month.

How to Open a Checking Account

Opening a checking account with Consumer’s Federal Credit Union is quick and easy.

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Choose Your Account - Review our checking account options and select the one that best suits your needs.
Gather Your Information - To open your account, you’ll need to provide basic personal information, such as proof of identity and address.
Make Your Initial Deposit - Depending on the account type you choose, there may be a small minimum deposit required to get started.
Start Banking! - Once your account is open, you’ll have access to all the features and benefits we offer.

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