One of the most challenging aspects of transitioning into adulthood is learning how to effectively handle finances. Luckily, there are local banks available to help Southern students master their money.
The most local banking option is the Collegedale Credit Union (CCU), which is positioned next to Southern’s Campus Shop. Because of its location, Leilana, a CCU teller, said that they attend to plenty of students.
Enrolled students are offered accounts with a $1 monthly fee, a free Visa debit card and earned interest after $1,000. This is ideal for students who are making an income and want to watch their money multiply gradually without any extra effort. Managing money is also made convenient with online banking and a mobile app.
Although CCU has only one local branch location, the bank is accessible through numerous shared branch locations across the nation.
One additional aspect of the Collegedale Credit Union is the membership criteria. Unlike most banks, the CCU has specifications for eligibility that include being Seventh-day Adventist, being related to a CCU member and living in specific zip code areas. Only one criterion has to be met in order to become a member.
Total information about services and membership is available either in person or at https://www.collegedale.org/.
If you have transportation or don’t meet the CCU criteria, there is another local option. Situated at the Four Corners intersection, Regions Bank boasts benefits for undergrads. The bank’s student account features a zero-dollar monthly fee and requires only $50 to open an account. This is favorable for students who do not have a lot of money but want to begin taking their finances seriously. Opening a savings account is also an option for those who want to begin saving money, not just spending it.
Online and mobile banking options are available, making money easily accessible through debit cards and online check deposits. Customers can also earn points with relationship rewards cards just by swiping their cards in everyday purchases.
Tanisha, a teller at the local branch in Ooltewah, said, “This [student] account will save you money. When I was in college, I was with a bank that had monthly fees, and it ate up my money.”
In order to be eligible, students must simply be 25 years or younger. Application options are available in a branch location or at https://www.regions.com/personal-banking.