There’s something exciting about a teen’s first summer job. It’s a rite of passage—a step into independence and personal responsibility. Whether your child is scooping ice cream, lifeguarding at the local pool, walking dogs or working towards a future career, one thing is certain: they’re about to start making money.
But do they know what to do with it?
As a parent, this is your golden opportunity to help your teen build financial habits that will serve them for life. The best place to start? A checking account designed specifically for students.
At Apple Federal Credit Union, our eXtras Student Checking account was built with your teen—and you—in mind. Here’s why it’s a must-have for every working teen this summer.
7 Reasons Why Your Teen Needs a Checking Account
1. It transforms paychecks into life lessons.
Summer jobs teach teens more than how to show up on time and follow directions; they’re a gateway to financial literacy. But without a real-world way to manage their money, those lessons can fall flat.
With an eXtras Student Checking account, your teen learns how to track income and expenses, budget based on what they earn and understand the value of each dollar.
Instead of handing you their check to cash, your teen can deposit, manage and spend their own money while receiving your guidance every step of the way.
2. It’s the safer, smarter way to manage money.
Cash might seem simple, but it’s easy to lose and nearly impossible to recover once it’s gone.
A Checking account gives teens a secure way to manage their money, and provides you with peace of mind. With Apple FCU’s eXtras Student Checking, your teen receives:
- A free Apple FCU Visa® Debit Card to make purchases or withdraw cash
- The ability to enroll in Direct Deposit with early pay*
- Secure digital banking to monitor balances and spending 24/7.
No more carrying around wads of cash or texting you for their balance. They’re in control—and so are you, thanks to joint account access.
3. It builds financial confidence.
Financial independence doesn’t happen overnight. It takes time, experience and the right tools. Opening a Checking account now helps your teen:
- Practice responsible money habits before leaving home
- Understand banking basics like deposits, transactions and account balances
- Build a relationship with a trusted financial partner.
Setting up an account also establishes financial history, which can be helpful down the line when your teen applies for an apartment, Student Loan or Credit Card.
4. It encourages healthy spending and saving.
Teens are often tempted to spend their hard-earned money the moment they get it. But with digital banking tools, it’s easier for them to see where their money is going and adjust their habits.
With Apple FCU Online and Mobile App, you can help your teen set savings goals for big purchases, monitor transactions to spot unnecessary spending, and understand the importance of finding balance between enjoying their money and saving for the future.
The eXtras Student Checking account pairs perfectly with these conversations, offering real-world practice in managing money wisely.
5. It’s hassle-free.
Banking can be complicated. That’s why eXtras Student Checking keeps it simple, accessible and completely student friendly.
With this account, your teen will enjoy no monthly service fees and no minimum balance requirements. Plus, they receive free access to Apple FCU ATMs and eStatements to help them monitor their account activity.
6. It’s convenient for you, too.
As a parent, you want to support your teen’s independence without losing visibility. eXtras Student Checking makes it easy for both of you to stay informed and involved. You’ll benefit from:
- Apple FCU Online and Mobile App access to check balances and activity
- Account alerts for purchases, balances and deposits
- Shared account access if your teen is under 18, so you can provide oversight.
It’s a balance of freedom and accountability—exactly what teens need as they learn to manage money responsibly.
7. Opening an account is easy.
Apple FCU makes opening an eXtras Student Checking account simple and stress-free. Below is all you’ll need.
For students 12-17:
- A parent or guardian as a joint owner
- Your student’s Social Security card
- A birth certificate or government-issued photo ID.
For students 18-23:
- A government-issued photo ID
- Your student’s Social Security number.
You can open the account in-person at any Apple FCU branch (best for students who are new members) or through Apple FCU Online and Mobile App if your student already has an eXtras Student Savings account.
Wherever you are, we’re ready to help you take the first step.
Help Your Teen Build a Bright Financial Future
That first summer job is more than just a paycheck; it’s a steppingstone to adulthood. And with your help, it can be the start of a lifetime of smart financial decisions.
When your teen opens an eXtras Student Checking account, they’ll receive more than just a place to put their money. They’ll gain confidence, a sense of responsibility and the tools they need to succeed.
Smart habits start now—make this summer count.
*The timing of early pay Direct Deposit varies based on the payment file submission from the payee. Apple FCU may make payroll and other electronic transfers available when the payment file is received, up to two (2) business days earlier than the scheduled payment date. Please note that funds are not available for you to spend until they are reflected in the AVAILABLE BALANCE. You should not rely on early pay Direct Deposit to satisfy the needs of scheduled bill or loan payments, or any other date-sensitive financial obligations. Apple FCU is not responsible for overdraft fees resulting from transactions that occur prior to funds posting.
