CONTRIBUTED CONTENT — Meet the piggy bank of the new generation. For young people dealing with money in a digital world, financial independence begins with a student account from State Bank of Southern Utah.
With easy online sign-up, no monthly fees and a minimum opening deposit of just $10, the student account is a “great tool to learn about checking,” said Tyler H. Brown, director of marketing for State Bank of Southern Utah. The student account also offers forgiveness of overdraft fees on the first two occurrences each month.
Account holders must be age 24 or younger at the time of opening. An adult joint owner is required for students under 18. Students ages 12 and under will need to open accounts in person. The account converts to a standard checking account on the owner’s 25th birthday.
All students who meet the State Bank of Southern Utah student account eligibility requirements by opening an account and completing eight debit transactions plus a five-minute online financial education module before Dec. 2 will receive a $50 Amazon gift card by Dec. 9.
Account owners have access to the MoneyPass ATM Network, which offers thousands of no-fee locations nationwide. Students can choose to customize their card to show school spirit at no additional cost, with themed cards representing over 20 local high schools from Richfield to Snow Canyon.
Parents can use the SBSU Card App to receive transaction notifications, set spending limits and move money between accounts, while students can access it to review their purchases, locate an ATM and report their card lost or stolen. Parents may also set up automatic transfers on a monthly or weekly basis if their child receives an allowance.
State Bank of Southern Utah introduced the student account in October. It is designed specifically for students to begin navigating personal finance with the guidance of an adult, Brown said. Use of a debit card and quick online access makes everyday money management more convenient while laying the foundation for long-term financial success.
“It’s critical that this next generation understands financial education,” he said.
Students can further expand their financial literacy through the self-paced Dollars & Sense online education program. The learning modules, each lasting no more than 10 minutes, teach life skills and address subjects such as building financial capability, investing in the future, owning a home and preparing for retirement.
Brown encourages parents to sit down with their children and use the program as a guide for discussing important financial topics. Dollars and Sense is available to all families in the community at no cost, not just State Bank of Southern Utah customers.
“It’s never too early to open an account and start teaching your children good financial habits so they have a solid foundation when they’re off on their own,” Brown said. “We really want to help students learn more about finances so they can make better choices for life.”
Sign up for a student account online, or locate the nearest State Bank of Southern Utah branch for more information.
Serving the community since 1957, State Bank of Southern Utah is the only financial institution owned, operated and headquartered in southern Utah. The bank holds over $1.6 billion in assets and operates 16 branches across 14 cities and towns: Cedar City, Circleville, Delta, Escalante, Fillmore, Gunnison, Hurricane, Kanab, Orderville, Parowan, Richfield, Santa Clara, St. George and Tropic. State Bank is an FDIC insured bank.
For more information about State Bank of Southern Utah, visit their website.
Written by ALEXA MORGAN for St. George News.
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