Checking into Checking Accounts
I paid for this with my first check!
You're a savvy shopper.

You're a good saver and a savvy shopper. You have a regular part-time job and the paychecks that come with it.

You have a savings account, but that isn't quite doing it for you. Your financial needs are increasing.

If you're between the ages of 13 and 16, with your parents' help you might be ready for a checking—or share draft—account.

It's convenient

It's more complicated than a savings account, and you probably won't earn interest on your savings. But check out the conveniences:

Not entirely free

The Life of a Check

A checking/share draft account carries responsibilities. You may have to pay a monthly account fee unless you maintain a certain account balance.

Other responsibilities include:

If you have an ATM or debit card, managing your account gets more complicated—you have to remember to track your card use in your register the same way you track your checks.

There may be additional fees when you add an ATM or debit card, and if you lose your card and fail to notify within a certain timeframe, you could be responsible for sizeable losses.

For your first checking account, you'll probably want an economy account...

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Planning for college? Find out more about the CEFCU Private Student Loan at cefcu.com/student.