Forbes says credit unions beat banks for students


We think credit unions rock. But don’t take our word for it.

Forbes reports that credit unions make all kinds of sense for students heading off to college:

There are about 600 credit unions at either educational or health institutions, according to the Credit Union National Association. At Princeton University, the Princeton Federal Credit Union offers students a checking account with no minimum balances, no monthly service charge and free checks. Try getting that from a for-profit bank…In addition to generally lower costs, university credit unions often cater specifically to student customers. Joyce Banish, vice president of university and community public relations at Michigan State University Federal Credit Union, says the coop aims to help students build a strong credit record.

Because of our cooperative nature and not-for-profit structure, credit unions have the flexibility to offer students great deals on auto loans, credit cards, and checking accounts.

And unlike banks, credit unions are looking to prey upon college students just to earn a few new credit card accounts.

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American 1 Federal Credit Union

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