University of Wisconsin-La Crosse |

It Make$ Cents!
Expand menu

  • Saving & Banking

    The cost of not banking
    The Spent documentary examines the cost of not having proper banking access in today's society.

    There are three main ways to save your money through a bank; checking accounts, savings accounts, and certificate of deposits.  Learn more about banking with Cash Course: Your Real-Life Money Guide.


    Checking Accounts can be charged using Checks, Debit Cards, or ATMs and are a good place to store money you plan to spend.


    While not all checking accounts will earn interest, savings accounts almost always do. Savings accounts are a good place for money you intend to hang on to for a little bit.



    A Certificate of Deposit is an agreement between you and your bank that states that you have given them a specific sum of money for a specific length of time, and in return at the end of that time you will get your money back with higher interest than you can get in a savings account, and the longer you keep it in, and the larger the sum of money you deposit is, the higher your interest rate will be.


    The money you give to banks or credit unions is the same money they use to invest in the form of loans some of which are available to you as a customer. The interest on loans is how they are able to pay you interest on your accounts.

    Banks vs. Credit Unions


    Banks are corporations who store and loan money in order to make a profit and benefit stock holders. They usually have many branches throughout the United States and even internationally. They also feature several online services.

    Credit Unions

    In contrast to banks, Credit Unions are owned and run by their members and because they are not a company they are able to offer higher interest rates, and convenient checking accounts, however credit unions may not have as many branches and often do not have many online options.

    Saving vs. Investing


    Saving money is as simple as keeping money safe in a bank or credit union.  Keeping money in a savings account or a certificate of deposit allows you to earn interest but at a very slow pace.  Take a look at this interest calculator to see the effects of long term saving.


    Investing in the stock market, bonds, or mutual funds, lets you gain money at a quicker pace than in a savings account or certificate of deposit but you may also loose some of it if the market performs poorly.  For more information you can read our Investing Brochure. You can also read Hands on Banking's article on Saving Versus Investing.
    Saving money

  • IMClogo
  • We are proud supporters of

    Wellness wheel

    MSW 2015

    Pete the Planner Small




    Money Couple
    Interesting Facts 

    If the money you spend in four years at a public college was a stack of pennies, it could reach more than 8.5 miles high, higher than most airplanes fly.

     84% of college students have a credit card.  50% of them have 4 or more.

    The average total debt for the Class of 2013 is $35,200.

    There will be approximately $1,200,000,000,000 in circulation in 2013.

    $67,000,000,000 in student loans were in default in 2011.


    Like IMC!   Follow IMC!   Recommend IMC!

    Pin IMC!   Follow IMC! on tumblr   Email IMC!