Question: Where Can I Find A Free Checking Account?
In 2009, about 75% of both large banks and credit unions offered free checking. About the same percentage of credit unions are still offering free checking in 2014, while the percentage of large banks has been cut by 50%.
Good opportunity to discuss the difference between credit unions and banks with your students and why this discrepancy exists.
Here is a link to a video in our Checking lesson that describes the differences.
Check out our lesson on Selecting A Checking Account
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.