EL PASO, Texas–evolve FCU has launched a new Collegiate checking account it said is designed to “help college students during their scholastic journeys and guide them to financial independence.”
evolve FCU said the account offers online access and an APY up to 7%. The rate is paid on balances up to $10,000.
“In addition, students can enjoy features such as digital wallets like Apple, Google, or Samsung Pay, Early Pay, and Person to Person (P2P) transfers using online banking via the mobile app and online banking services,” evolve FCU said. “The mobile app also features eZ Investing, where students can learn how to grow their money through investing.”
The account is free to college students between the ages of 17-24. Qualifying members must present a valid school ID from a credited institution, including state universities, community colleges, and private and trade schools.
‘Comprehensive Solution’
"Our Collegiate Checking Account* is designed to support students as they navigate their financial journeys during college and beyond," CEO Ken Walters said in a statement. "We understand the financial challenges students face, and we're committed to providing a comprehensive solution that not only helps them manage their day-to-day expenses but also encourages saving and investing for their future."