Opening deposit of $50 required for both checking & savings accounts. Only full- or part-time students age 14 & older are eligible. Co-applicant (over age 18) required for accountholders under age 18. $50 bonus for new accounts only when opened online and paid on one account per person or per household within 30 days of account funding. Valid e-mail required. $50 bonus reported as interest income. Annual Percentage Yield (APY) is .910% for savings accounts. Rates are variable and subject to change, and are accurate as of 06/24/2005. $50 account closing fee if funds not left on deposit for at least six months.