University Daily Kansan, August 21, 1985
Page 2
Students find local banks,automatic tellers convenient
By Sherry Gerina
Staff Reporter
During the first week of school, students quickly learn that money is needed for everything from books to Friday night dates. They also learn that it's often a hassle to do their banking outside of Lawrence.
Mary banks have automatic tellers and other services to make it more convenient for students to keep their accounts in Lawrence. Automatic bank students to deposit or withdraw money after regular banking hours.
Automatic tellers that are open 24 hours a day are at the Douglas County Bank, Ninth and Kentucky streets, 23rd and Louisiana streets and 15th Street and Kasold Drive; First National Bank of Lawrence, 900 Massachusetts街 St., Ninth and Iowa streets, Ninth and Tennessee streets and 23rd and Iowa streets; University State Bank, 955 Iowa街 and 2546 Iowa街 St.; and Lawrence National Bank, 647 Massachusetts, Ninth and Iowa streets, and 27th and Iowa streets.
The Lawrence National Bank,
First National Bank, Capitol Federal Savings and Loan Association and University State Bank also have auto-tellers at the Kansas Union.
Capitol Federal, 1025 Iowa St., and
1046 Vermont St., and University State Bank have auto-tellers at the Burge Union
University State Bank's Ultra card also allows withdrawals to be made from automatic teller machines in the Kansas City, Mo., area.
A person can gain access to the tellers by purchasing cards from the banks.
Some bank officials said recently that automatic tellers were convenient for students when they went out on Friday or Saturday nights and forgot or did not have the time to go to a bank during the day.
Many banks also have checking accounts that are more convenient for students than regular accounts.
Lawrence National Bank offers an "economy star account." It does not require a minimum balance and it has a $3 monthly service charge. It is charged with withdrawals. However, after that there is a 20-cent fee for each withdrawal.
Douglas County Bank features "special checking." There is no minimum balance and there is a 50-cent charge per check.
Students who do not write many checks or make many withdrawals might want to try the economy checking account at the First National Bank. There is $1.50 monthly
service charge, and it costs 20 cents to withdraw money from the automatic teller and 40 cents to withdraw by a check.
The University Bank also has an account geared toward students. It is called the "special account" and it requires $100 to open. There is also a $5 charge, which covers 50 personal checks and an Ultra card. It costs 40 cents per check and 20 cents for each withdrawal from the Ultra automatic teller. There is a minimum charge of $1.50 a month.
The American Savings Association, 2435 Iowa St., offers convenience checking. Although there is a $5 fee if the balance falls below $750, it earns 5.25 percent interest regardless of the balance.
Anchor Savings Association, 900 Ohio St., also has a checking account that pays interest. It is called the Checking Premiere Account, and there is a 45 monthly service charge.
The ADC-KU Federal Credit Union, N. W. 9th St., offers a checking account that requires no minimum balance, no monthly service charge and no annual percent interest rate, a portion of which is paid each month.
When choosing a bank, it is important to consider how much money the bank requires to open an account.
and how much are the monthly service charges.
The opening balances required by Lawrence banks range from $17.50 to $100. Monthly service charges vary depending on the checking account and the balance. Most banks do not charge a monthly service fee if the average monthly balance is $500 or more.
Students also should keep in mind overdraft charges, which result from bouncing a check.
First National Bank, American Savings, Anchor Savings, University State Bank and Capitol Federal have a $10 overdraft charge. Lawrence Federal Savings charges $8. Douglas County Bank charges $15 and Lawrence National Bank $17.
Another banking source available to some students is the School Employee's Credit Union, 1015 W. Sixth St. Students must either work for the state, city or county or have a relative who has an account at the credit union to be eligible for this banking service.
The credit union offers a checking account that requires no minimum balance, and pays a 1 percent interest. The first 20 checks are free, but there is a 10-cent charge for each check written after that.
Here is a list of the Lawrence banks and a few of the basic facts and figures for each:
American Savings Association
2435 Iowa St.
$100 opening balance
No minimum balance
$100 opening balance
No minimum balance
Ons automatic teller, open 6
a.m.-midnight
$10 overdraft charge
Anchor Savings Association 906 Ohio St.
'00 Ohio St.
$00 opening balance
No minimum balance
Planning to open an automatic teller
$10 overdraft charge
Capitol Federal Savings and Loan
1025 Iowa St.; 1046 Vermont St.;
$17.50 opening balance
$10 minimum balance
Five automatic tellers, open 7
a.m.-11 p.m.
$10 overdraft charge
$10 overdraft charge
Douglas County Bank
Douglas County stnth
Ninth and Kentucky streets; 23rd and
Louisiana streets; 15th Street and
Kearal Drive
Ninth and Kentucky streets; zard and Louisiana streets; 15th Street and Kasold Drive
$100 opening balance
No minimum balance
Three automatic tellers, 24-hour access
$15 overdraft charge
First National Bank of Lawrence
900 Massachusetts St.; Ninth and
Iowa streets; Ninth and Tennessee
streets; 23rd and Iowa streets
$50 opening balance
$50 opening balance
No minimum balance
Seven automatic tellers, 24-hour access
$10 overdraft charge
ADC-KU Federal Credit Union 603 W. Ninth St.
Minimum balance: $5 in savings
No automatic teller
Overdraft charges covered by savings
Lawrence Federal Savings 901 Vermont St.
No minimum balance
No minimum balance
No automatic teller
Lawrence National Bank
No automatic teller $8 overdraft charge
647 Massachusetts St.; Ninth and
iowa streets; 27th and iowa streets
$100 opening balance
No minimum balance
Five automatic tellers, 24-hour access
University State Bank
University State Bank
955 Iowa St., 2546 Iowa St.
100 opening balance
No minimum balance
Three automatic tellers, 24-hour
access
10 overcard charge
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