Just go to your local credit union and tell them you need an account. Pretty simple. Typically credit unions have low or no fees, and low or no minimum balance.
Is there any risk or disadvantage to a union vs a bank in my situation? I'll still get a credit card etc. right?
Great, I'll get to that in time. thanks for the advice
Yes. Credit unions are local. If you plan to go to college outside of your local region, you'll have to open a second bank account with a bank that operates in that region - or pay fees on any ATM withdrawal you do, (at least almost - depends on the bank's atm policy - but it's pretty likely). It can be a pain. It takes as long as 5 business days to transfer between accounts at separate banks. Also, just cuz it's a credit union doesn't automatically make it any better than a bank. Check their minimum balance requirements, any fees to simply have an account, overdraft fees, and if they offer an overdraft line whether they charge a fee to access. If they have any min. bal fees or requirements, or a fee every month just to have your account open, take your money and run somewhere else. You should never have to pay to have a bank account. Some banks make you, and they're the lice. For bank accounts, they are called "debit cards." Also, FWIW, Capital One 360 offers a checking account that's absolutely phenomenal - no overdraft fees, no minimum balance fees or requirements, the only fee it's possible to get is a $9 returned check fee and they have a linked overdraft account so if you accidentally spend more than what's in your account it goes into the OD. Unlike most banks there is no fee to access the overdraft, and the rate is very competitive at 11.25%. The only drawback is they are a direct bank so if you need any conventional bank services such as cashier's checks (usually security deposits on apartments, etc) it's harder to get them - there are no branches you can just walk into.
This is utterly and completely wrong. Nearly all credit unions are members of a co-op that allows for shared banking. I signed up for a credit union in Alaska at their only branch in the lower 48 in 2002. They opened 4 more branches in Seattle but I moved to Los Angeles. Within 3 years they'd opened a branch in Victorville (100 miles away) which I never went to. After 9 years in Los Angeles I moved back to Seattle and there are now 4 branches within easy driving distance of me... ...but across three states and 14 years I've never paid a fee, transfers are instantaneous and my access to cash is dictated by my bank, not whatever the local branch is. In Los Angeles, I had no less than seven banks within a mile that I could use without any special need. More importantly, three of them had special 'shared banking' lines (Hollywood still pays most people by physical check, so this was important). It's kind of funny that you cast aspersions on credit unions because they're local, but you're recommending a bank with zero physical locations.
I recommended the bank with caveats; it uses the STAR ATM network which provides access to free ATMs cross-country. If you're okay with using an ATM and don't need physical locations, then you're fine with it. It looks like the co-op network uses the same network. Yay! I wasn't aware of the co-op network, which you were, so thankfully, pabst can make an informed decision. Either way, not a big deal, and my points about credit unions and fees still stand. People love to recommend any credit union over any bank, but the fact is, plenty of credit unions charge fees as well and aren't necessarily a better alternative when you can get a fee-free account from a major branch. It's stupid to elevate all credit unions above all banks, but people love to do it.
I am able to get cash across the country with no ATM fees. Like all things finance, it depends on the bank/credit union. The way mine works is that you can go to any credit union ATM and get cash for free. But I use my rewards card for 99% of everything I do so for me this is not an issue.Yes. Credit unions are local.
Credit unions tend to be more conservative with initial accounts. They may hold your money for longer before giving it to you, at least until you've established a banking history. I tried opening an account with a local credit union in LA but, since it was the recession and since it was an entertainment industry credit union, they wanted to hold my money for five days. On the other hand, the credit union I signed up with in 2001, whose headquarters were in Anchorage, would give me access to my money within minutes. After all, I had 7 years banking history with them, including three accounts, a credit line one active and one completed car loan. The irony of credit unions is they're all on the same network... so to deposit checks in the Alaska credit union I went to the LA credit union, who would tell me that my money wouldn't be released for five days, so then I'd pull up my phone and show them that it had already been approved, flip them the finger and walk out. Long story short, Credit Unions offer you slightly better rates and service at the cost of conservative treatment initially... depending on the credit union. That said, both credit unions treated me with a lot more respect than Wells Fargo.
To add a little bit, credit unions often will offer very competitive rates on car and home loans, and many of them bump your account interest rate or dividend if you hold a loan with them. They are certainly more conservative with whom they lend to, but if you're in, they're hard to beat.