It pays to learn good money habits.

Getting that first paycheck is a big milestone in a young person's life. Knowing how to manage their new-found financial freedom responsibly is another.

We aren't born knowing how to manage money. And that's too bad, because an analysis by WalletHub found Indiana ranked 29th in the nation for financial literacy (Michigan fared better at 15th).

In a nutshell, financial literacy means how well a person understands and uses financial skills like personal financial management, budgeting, and investing. The younger a person is when they learn these skills, the greater chance they have of a financially secure future.

That's why TCU created Student Rewards Checking, an account for anyone ages 14 to 23 that offers financial tools - and financial incentives - to encourage teens and young adults to learn how to manage their money responsibly.

On the surface, Student Rewards Checking is like any other TCU checking account. It comes with all the things you'd expect, like a contactless debit card, a mobile app and direct deposit. The difference is that TCU rewards accountholders with cash deposits for learning good money habits and putting them into practice:

  • $25: When they complete at least six Financial Empowerment mini-courses, either online at their own pace or through a participating school

  • $10: When they download and begin using the TCU Mobile App, Enroll in Online Banking, and register for eStatements and Round-Up Savings

Plus, Student Rewards accountholders earn an additional $10 every year that they don't overdraw on their account.

Student Rewards Checking is available with no monthly fee when enrolled in eStatements, and there's no minimum balance required. It's the perfect account for young adults to take with them wherever life takes them - whether heading off to college or to their first job - with benefits like:

  • Access to cash from more than 700 zero-fee ATMs in Indiana and Michigan and thousands of reduced-fee ATMs nationwide (PLUS 2 free ATM withdrawals every month from ATMs not covered by our extensive network)
  • In-person banking at 57 TCU locations and more than 5,000 credit union branches across the country

Student Rewards Checking is only one way that TCU is helping our members improve their financial wellbeing. Click here to learn more about our other Financial Wellness resources.