Get your finances ready for school
Starting a new school year brings more than just classes and textbooks, it often comes with new financial responsibilities too. Between juggling textbooks, tuition, groceries, and social events, managing money can feel overwhelming.
At SCU, we offer a wide range of financial products, including checking accounts with no monthly maintenance fees; interest-bearing savings accounts designed to help you save for specific expenses such as holiday shopping or vacations; and lots more.
Make your money go further
A good budget starts with knowing exactly how much money you have coming in and where it’s going. Start by looking at what you earn from your source of income including part-time work, student loans, side hustles, grants, bursaries or family support, and compare it to what you spend on essentials like tuition, rent, groceries, cell phone payments, transportation and more.
Once you see the full picture, it’s easier to spot where you can cut back. Try:
- Making coffee or meals at home instead of buying out
- Using student discount wherever possbile
- Planning a few "no-spend" days each month
- Dividing your spending into weekly amounts instead of a full month
- Keeping bills in one account and day-to-day spending in another to ensure essentials are always covered
SCU’s digital banking tools make it easy to track spending, set alerts to help you stay on budget, and make quick adjustments when needed so you’re better prepared for both expected and unexpected expenses during the school year.
Make budgeting easier with our Student Budget tool to track your money and manage expenses with confidence.
Plan your budget
Save What You Can, When You Can
Saving while you’re a student might feel challenging, but starting now, even with a small amount, can set you up for long-term financial success. Consistent saving adds up over time and can make it easier to handle unexpected expenses without disrupting your budget.
Choosing the right savings account can make a big difference in your savings plan, that’s why SCU’s student savings account makes it simple to get started, with no minimum balance requirements, competitive interest rates, and the flexibility to move funds between accounts whenever you need.
To turn savings into a habit, set up automatic transfers from your StudentFLEX™ chequing account each payday, even if the amount is small. Linking accounts and setting specific goals such as building a $500 emergency fund or saving for next terms textbooks, can help you stay motivated and track your progress. When it comes to saving money, it’s easier when you know what your goal is.
Decide what you’re working toward and let that keep you motivated.
Start saving today
Using credit to your advantage
If you’re aiming to take more control of your finances and gain financial independence, learning to use credit responsibly is a smart place to start. Building a good credit early can open doors to future opportunities, from renting your first apartment to securing a car loan or mortgage. Along the way, it can also help you manage everyday expenses while developing habits that keep your spending in check.
At SCU, the StudentFLEX Line of Credit gives students access to funds when they need them, with interest charged only on the amount used. This can be helpful for covering tuition gaps or unexpected expenses while keeping borrowing manageable.
A line of credit is different from a credit card, which is better suited for smaller, everyday purchases you plan to pay off quickly.
If you’re unsure which option is right for you, SCU’s experts can walk you through the differences, explain repayment strategies, and help you find the best fit for your budget and goals.
Get started
Why credit unions matter
SCU is a not-for-profit cooperative, which means we operate differently from traditional banks. We don’t have outside shareholders, instead we’re owned by our members. That includes students, families, business owners, and everyone that banks with us.
When SCU earns a profit, it’s reinvested into improving your experience, which could mean lower fees, better rates, and new services designed to help you bank smarter.
Your finances at your fingertips
SCU’s digital tools make it easy to manage your money on your schedule. With online and mobile banking, you can pay bills, check account balances, transfer funds, and send Interac e-transfers—all from your phone or computer. You can also add your SCU debit card to your mobile wallet to make purchases securely, with just one tap.
Support that grows with you
Your financial needs will change as life moves forward. As a student, you might be focused on finding a low fee chequing account, a way to start building credit, or support through a student line of credit. Later, you might be looking for advice on buying a home, starting a business, or investing. As you get older, you may want guidance on estate planning.
No matter what stage you’re in, SCU is here with the right advice, tools, and products that grow with you.
