Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Cards help students establish credit history
ITHACA, N.Y. (10/2/09)--Credit cards can help fiscally responsible students establish credit histories, according to a Credit Union National Association (CUNA) youth expert. If a student has the financial stability to keep up with a credit card’s balance, it can be a valuable way for the student to create a good credit score and get educated about finances, Josh Jones, CUNA manager of young adult programs, told The Ithacan (Oct. 1), Ithaca College’s student newspaper. Credit history also is important for acquiring loans, financial services, and for getting a job. Some employers look at applicants’ credit reports to see if they are in good standing--especially if the applicant would be handling money at the job, Jones told the newspaper. About 84% of undergraduates surveyed by student lender Sallie Mae have at least one credit card--an increase from 76% in 2004. Students use the cards to pay for textbooks, school supplies and commuting costs. The average amount charged by students was $2,200--compared with $942 in 2004, the newspaper said.
Other Resources

RSS print
News Now LiveWire
.@TheNCUA :Low-income CUs can expand services to members, train staff,collaborate for efficiencies w/more than $1M in grants awarded 2day
8 hours ago
.@CUNA joins 11 other financial service orgs urging @SenateFloor to take up #CISA to strengthen cybersecurity information sharing
9 hours ago
.@RedwoodCU and its staff donated a combined $5,100 toward AIDS Walk San Francisco. The CU is a longtime sponsor of the event.
9 hours ago
See the latest from @CUNA's CompBlog on Customer Due Diligence. http://t.co/rzOzDUpNMT
9 hours ago
New #FinCEN proposal would strengthen, clarify due diligence obligations for financial institutions. http://t.co/2yxVUXCrYA
9 hours ago