Mercantile Bank Offers ``Student Finance 101,'' Special Checking Account Designed for College Students

Business Wire, August 23, 1999

ST. LOUIS--(BUSINESS WIRE)--Aug. 23, 1999--

Just in time for students to return to school, Mercantile Bank is offering Student Finance 101, a checking account designed for full-time college students who need a basic checking account and ATM services, but write few checks each month.

"Recognizing that today's college students often have limited incomes, we designed this account just for them," said John Elmore, head of consumer banking for Mercantile. "After all, college kids are our future small business customers and mortgage holders -- we're investing in them today, and hope to grow with them tomorrow."

The Student Finance 101 account has a low maintenance fee of only $1 per month, which is waived during June, July and August. There is no minimum balance required. And Mercantile's Online Banking is free, so students can check balances, review their transactions and transfer funds -- all via the Internet. In addition, they receive a free initial supply of checks and a Mercantile Check Card.

Check Cards Better Choice for Students

"For many students, a check card (often called a debit card) may be a smarter choice than a credit card," Elmore explained. "A check card limits charges to the balance in a student's checking account. Thus, with the Mercantile Check Card that is provided free with Student Finance 101, they can make purchases from a retailer, but can't run up huge credit card debt. Yet, it gives students ready access to cash from any ATM." -0-

     "Student Finance 101" -- At a Glance

--   No minimum balance required

--   Unlimited free Mercantile Check Card transactions

--   Free Online Banking

--   Free use of Mercantile ATMs

--   Five free check transactions each month

--   Free initial order of 200 checks

--   Discounts on consumer loans

--   $1 fee per month -- waived during summer

In addition to offering college students this special account, Mercantile is one of the leading student loan providers in the region. An automatic "college cost calculator," to help students and parents plan for the cost of college, is now available on Mercantile's web site: www.mercantile.com (go to Mercantile's home page and click on the Student Loan notice).

For more information on Student Finance 101 or Student Loans visit your nearby Mercantile Bank.

Mercantile Bank is a subsidiary of Mercantile Bancorporation Inc., a $36 billion multi-bank holding company headquartered in St. Louis. Mercantile operates nearly 500 banking locations throughout Missouri, Illinois, Kansas, Iowa, Arkansas and Kentucky. Mercantile's non-banking subsidiaries include companies providing brokerage services, asset-based lending, factoring, investment advisory services, leasing services and credit life and other insurance products as agent.