Everyday Student Bank Account.
Easy access to your money with no monthly account keeping fees? Meet our Everyday Student account. It's perfect for students who want a simple banking solution, with all the online services.
It starts here.
It’s easy to apply online.
- Select the ‘open now’ button,
- Fill out the short form by following the prompts.
- Hit submit!
What happens next?
Someone from our team will be in contact within 1 business day to get you started with everything you need. It’s simple banking.
Things you need to know.
Everyday Student
| Balance | Interest Rate |
| $0+ | 0.00% p.a. |
| Account Keeping Fees | |
| Monthly account keeping fee | $0 |
Interest and Fees
The Everyday Student is for anyone between the ages of 12-23 years of age and it’s limited to one account per membership.
Refer to our Summary of Accounts & Availability of Access Facilities for more information.
Transaction fees and charges may apply, please refer to our Fees and Charges.
What makes it so great ?
Tap & Go.
It’s easy with your Visa card, or our increasing options of Pays and wearables. The choice is yours with Illawarra Credit Union.
24/7 digital banking.
24/7 access with e-statements, internet banking & our moneytree app – banking from your phone or tablet.
More ways to pay.
Tap your own way – Google Pay™, Apple Pay®, Samsung Pay®, and Garmin Pay™.
Instant payments.
Make a payment and know it has been received and cleared in minutes – Osko® & PayID.
$0 account keeping fees.
No monthly account keeping fees & no minimum monthly deposits.
Government Guarantee
The Australian Government guarantees aggregated deposits with Australian authorised deposit-taking institutions, including Illawarra Credit Union (a division of Community First Credit Union Limited), of up to $A250,000.
The Financial Claims Scheme (FCS) is an Australian Government scheme that was established during the 2008 global financial crisis to provide financial protection for consumers in the unlikely event of a failure of a bank, credit union, building society or general insurer.
The FCS provides protection for depositors of banks, credit unions and building societies that are incorporated in Australia (also known as authorised deposit-taking institutions or ADIs), for deposits up to $250,000 per account holder per ADI. The FCS limit of $250,000 applies to the sum of an account holder’s deposits under the one banking licence. This includes accounts with any other banking business that the licenced banking institution may operate under a different trading name. Community First Credit Union Limited operates the brands Illawarra Credit Union, Community First Bank and Easy Street Financial Services. For the purpose of FCS, all deposits held under the different brands are added together to determine the FCS entitlement for an account holder. The scheme aims to return deposits to account holders within seven days of activation of the FCS.
The FCS can be activated by the Australian Government in the unlikely event that an ADI or general insurer fails.
Once activated, the FCS will be administered by APRA.
The objectives of the FCS are to:
- protect depositors of ADIs, and claimants of general insurers, from potential loss in the unlikely event of the failure of these institutions;
- provide depositors with prompt access to their deposits that are protected under the FCS; and
- support the stability of the Australian financial system.
Further information about the Government Guarantee can be obtained from the APRA website at www.fcs.gov.au.
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Are you a First Home Buyer?
With as little as 5% deposit, eligible first home buyers have the opportunity to purchase a property through the First Home Guarantee (FHBG).
Find out moreWhat are Student Bank Accounts?
At Illawarra Credit Union, our student bank accounts are designed to meet the needs of young adults. We focus on providing an easy-to-use, fee-free account equipped with digital tools like our mobile banking app, moneytree. This ensures that you have everything you need for efficient money management right at your fingertips.
Our Everyday Student account is for anyone between the ages of 12-23 years of age and it’s limited to one account per membership.
Things to consider when opening a student bank account
When choosing a student bank account, several factors come into play:
- Fees: Some student bank accounts charge monthly fees, while some waive the monthly fee if you meet certain requirements.
- Accessibility: Consider how, where and when you would like to access your funds and manage your money, be it from an ATM, online banking or an app.
- Online Banking: Choose an account with robust online and mobile banking features.
- Age and Eligibility: Consider the age requirements; our Everyday Student account is available for those aged 12-23 years.
How do I apply for a student bank account?
Applying for a student bank account with Illawarra Credit Union is straight forward:
- Eligibility Check: Ensure you meet our Everyday Student account’s age criteria (12-23 years).
- Online Application: Visit our website, click ‘open now’, and complete the application form.
- Documentation: Have your identification and any required documents ready.
- Submit and Await Confirmation: After submitting, our team will contact you within one business day to complete the process.
It’s a simple and efficient process designed to get you started on your financial journey with ease and confidence.
FAQs
A student bank account is primarily meant for everyday transactions, offering easy access and flexibility for your daily financial activities. Unlike a savings account, a standard student bank account usually won’t accrue interest, as it’s designed for regular use rather than long-term savings growth. This makes it an ideal choice for managing your day-to-day money with the added convenience of digital banking features.
Yes, our Everyday Student account is available for anyone aged 12-23 years. It’s limited to one account per membership
We believe in supporting your financial journey without the burden of monthly fees. Our student bank accounts are free from monthly fees.
Our student bank accounts offer 24/7 access with e-statements, internet banking, and our moneytree app. So, you can manage your finances conveniently from your phone or tablet, anytime, anywhere.
Important notes
Illawarra Credit Union, a division of Community First Credit Union Limited ABN 80 087 649 938 AFSL and Australian credit licence 231204, is the product issuer of the deposit and payment products. Any advice given is of a general nature only and does not take into consideration your objectives, financial situation or needs. Please consider the appropriateness of the advice before acting. Refer to the Account and Access Facility Conditions of Use and the Fees and Charges for more details. Fees and charges are payable. Terms and conditions apply and are available on request.
BPAY® registered to BPAY Pty Ltd ABN 69 079 137 518. Osko® is a registered trademark by BPAY Pty Ltd ABN 69 079 137 518. Android, Google Pay, and the Google Logo are trademarks of Google LLC. Apple, the Apple logo and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Watch is a trademark of Apple Inc. App Store is a service mark of Apple Inc. Samsung Pay is a registered trademark of Samsung Electronics Co., Ltd. Garmin, the Garmin logo, and the Garmin delta are trademarks of Garmin Ltd.
