Freestone Credit Union

Youth 5-17 Yrs old

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Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government

 

 

 

National Credit Union Administration, a U.S. Government Agency

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Student Accounts!

Our STAR CLUB (Students Today Are Responsible) accounts are for full-time college students.  You receive free club checks during this time.  These accounts automatically expire on September 1st of each year, but may be renewed by request if the member remains a full-time college student.  College students need to send in proof of enrollment for at least 12 hours of classes.  FCU has free PC Internet Banking with text messaging and mobile banking, a TellerLine Audio telephone banking, and Bill Pay available.

CU Succeed® Teens “Claim Your Youth” Financial Network

 

Freestone Credit Union is now offering our  teens (13-17) a  new website to help them understand more about financial topics.  Newsletters will also be sent out to all our teen members to help give them the information and tools they will need to understand and manage their financial future.  By the age of 18, most teens  will have already established their first savings and checking accounts.  Many will get their first auto loan between 18 and 22.  And plenty will get their first credit card. 

 

Freestone Credit Union would like to help equip these young people with skills to help them budget and use their funds responsibly.  Our service representatives are here to answer any questions they may have and assist them with their accounts, loans and credit or debit cards as well as how to use the internet to monitor all their  accounts and services before they go off to college or out into the job market.  

 

Establishing good credit is important for young people and it is very important to monitor their credit reports and accounts no for identity theft  .   The new CU Succeed website can be accessed from our webpage at http://freestonecu.org on our Youth page.

Costs Heavy on Road to High School Graduation

Maureen Casazza expected her daughter Jessica's senior year in high school to bring in extra bills, but there were so many additional costs that it caught her off guard. "There were obvious costs like yearbook and prom, but you don’t realize the fees that come with taking the SAT and ACT and applying to colleges, the cost of senior and graduation pictures and more," says Casazza, whose daughter graduated from a high school in North Merrick, N.Y. last June.

It's tough to say "no" to too many of these expenses because it is your student's most memorable year in high school. But you can mitigate much of the financial burden by planning ahead.

Before you establish a budget for senior costs, the National Endowment for Financial Education suggests getting a big-picture view of the possible expenses.

"Unless you have an idea of the full scope of costs, they will take you by surprise," says Patricia Seaman, with NEFE, whose daughter Katie graduated from a high school in Highlands Ranch, Colo. in May.

Ask about the following potential senior costs:

· Senior photographs: Photos may cost as little as $25 or as much as $500 for an off-campus professional shoot.

· Yearbook: In addition to the yearbook, which Casazza says cost her family $125, many schools offer yearbook ads with varying prices to commemorate your child’s graduation.

· Memorabilia: Class rings can cost several hundred dollars, and letter jackets cost well over $100 in many regions.

· Academics: Your child may take standardized tests such as the SAT for $47, or tests for AP classes at $87 each. Every college your child applies to will have an application fee ranging from $35 to $80 or more.

· Class trips: Your child's school may sponsor a senior trip or another pricey celebratory activity.

· School dances: The average American family with a high school student attending prom last spring planned to spend $807 on prom-related costs. This included formal wear, hair and makeup, flowers, photos, limousines and prom tickets.

· Year-end fines: Unreturned textbooks, library books or athletic equipment could mean fines to settle before your student can receive a diploma.

· Graduation: You may need to buy or rent the cap, gown and tassel, and you’re bound to want photos. In addition, many families incur costs for bringing in out-of-town relatives, sending graduation announcements and hosting graduation open houses and parties.

Once you know those senior year costs, examine your financial situation. "Look at your cash flow, income and expenses, and decide what you can put away for senior costs and how early you need to start saving," Seaman says. "If your household budget is very tight, start planning in the beginning of your student’s junior year. If your budget is more flexible, start in the spring before senior year."

For more tips on managing back-to-school costs, visit www.smartaboutmoney.org/