DANBURY, Conn.–It isn’t just credit unions finding ways to offer checking accounts to students.
Savings Bank of Danbury here, a mutual savings bank with 15 branches, is introducing the “3.0 Good to Go” student checking program that gives students full access to a suite of tools and apps that also rewards them for good grades.
The accounts are available to students ages 16 and up and students with a proven 3.0 GPA or higher qualify for a reward. High school students can get up to $25 twice a year and college students can get up to $50 per semester. There is no minimum balance, monthly fee of ATM fees from the bank and non-Savings Bank of Danbury ATM fees are reimbursed up to $15 per billing cycle.
“Establishing sound financial habits early in life is a great way to move toward financial literacy,” said Martin Morgado, president and Chief Executive Officer of Savings Bank of Danbury, in a statement. “We are pleased to be able to offer these students incentives in their education and their money management.”