Career and Personal Development

Chapter 2 On Your Own

Financial Institution I
(Commercial Bank)
Do they have student accounts? If yes,
what are the restrictions? Yes they
have a student account and the
restrictions are that you have to be a
high school senior.

Financial Institution II (Credit

Union)
Do they have student accounts? If yes,
what are the restrictions?
Yes they do and the restrictions are
the same as a commercial bank.

Is there a fee for a student account?

Yes its free for students as long as
youre a high school senior or a
college students its free for you to
have a student account.

What is the minimum balance for a

savings account? The minimum
balance for your savings account is
2,500 daily.

What is the minimum balance for a

checking account? Its $500 at the
bank called Chase Bank.
Do they offer Internet banking? If yes,
what is the cost? Yes they do and the
balance is 250,000.

Is there a fee for a student account?

The fee is $250 per semester.

What is the minimum balance for a

savings account? Its minimum
balance is less than $250

What is the minimum balance for a

checking account? The minimum is
$10.00

Do they offer Internet banking? If yes,

what is the cost?
Yes this bank offers an internet
banking and the cost is a $0

What are the ATM service charges?

The fee is $2.00 to $5.00.
What are the ATM service charges?
Are they insured by the FDIC?

The is no fee to a union credit ATM.

Yes they are insured by the FDIC.

Are they insured by the NCUA?
Please logon to the class page and complete the threaded discussion.

Career and Personal Development

Chapter 2 On Your Own
Yes they are insured by the NCUA.

Please logon to the class page and complete the threaded discussion.