DES MOINES, Iowa--(BUSINESS WIRE via COLLEGIATE PRESSWIRE)--Feb 2, 2004--What is your New Year`s resolution? To lose weight? To study harder? To get better grades? One improvement you can make this year that will affect the rest of your life is to dedicate yourself to being financially responsible. To help students get started, Principal Bank (www.principalbank.com) announces the availability of a special account exclusively for full and part-time students, ages 14 and over.
''The best way to pave the path for a strong financial future is to establish good credit,'' said Barrie Christman, president and CEO of Principal Bank. ''Some students may not realize that credit rating is large part of life. Renting an apartment, buying a car, or any large purchase such as furniture or electronic equipment all require having good credit. Some employers even do credit checks in the hiring process. Establishing a bank account early, and learning the proper way to manage it responsibly, will teach the lessons of money management that can be used for a lifetime.''
Features of the new student package include low opening balance, no monthly minimum balance requirement, free checking and free savings account, free debit/ATM card with no Principal Bank transaction fees, free unlimited BillPay, automated overdraft protection from a Principal Bank savings account and educational tools. Principal Bank will place $50 into the account when it is opened. These funds can be used for a purchase, or deposited into a Principal Bank savings account for overdraft protection.
The student package is ideal for both college and high school students. The ''Student Stuff'' section of www.principalbank.com features a variety of educational tools that range from basic facts and questions about banking, tips on saving money, e-cards, and online tools such as savings calculators and online customer service.
Principal Bank is beneficial for college students because it is completely online, so no matter what happens after graduation, students know that they can take their Principal Bank account with them anywhere.
''Parents want to be able to get money to their child quickly, but because students often establish a bank account near their school, it can be time consuming and inconvenient to get funds into the student`s account,'' noted Christman. ''Direct banks, such as Principal Bank, are a great resource for this situation, because ATMs can be used to deposit money nationwide, and bills and other transactions can be handled online. It`s a solution that reduces the anxiety for the parent and the student.''
To learn more about the Principal Bank package designed just for students or to sign up, simply visit www.principalbank.com.
About the Principal Financial Group
The Principal Financial Group(R) (The Principal (R))(1) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and mortgage banking through its diverse family of financial services companies. More employers choose the Principal Financial Group for their 401(k) plans than any other bank, mutual fund, or insurance company in the United States(2). A member of the Fortune 500, the Principal Financial Group has $134.8 billion in assets under management(3) and serves some 14.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
(1) ''The Principal Financial Group'' and ''The Principal'' are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
(2) CFO Magazine, April/May 2003, based on total plans served in 2002 by insurance companies, banks and investment firms.
(3) As of September 30, 2003
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