RALEIGH, N.C. (5/10/13)--Young members of State Employees' CU (SECU), Raleigh, N.C, opened 612 youth accounts and deposited $3.15 million during the credit union's Youth Saving Challenge, April 22-26.
SECU was celebrating the "Stache Your Cash" theme of National Credit Union Youth Week, sponsored by the Credit Union National Association. SECU challenged the credit union's young Fat Cat and teen Zard members to "stache" a deposit into their share account during youth week. Participating accountholders were automatically entered into a random drawing for a Nook HD Tablet, with one FAT CAT and one Zard winner.
Staff at $26 billion asset SECU's 248 branches promoted the campaign with displays and visited local schools to teach financial education concepts.
"The Youth Saving Challenge event is a great way to communicate and motivate young children to learn about the importance of saving," said Kevin Watson, vice president of SECU's Dunn branch. "The branch employees and FAT CAT, our youth mascot, have fun promoting the branch event with SECU's young members and their families and enjoy sharing the knowledge of basic money concepts through local school and community presentations."
News Now will publish the nationwide results of the Credit Union Youth Saving Challenge May 20.
The Youth Week activities also make youth--and their parents--aware of the benefits of credit unions. CUNA sponsors National Credit Union Youth Week to help credit unions nationwide focus on the financial needs of young people and provide financial literacy education. It teaches the benefits of saving and goal setting, and invites youth to open savings accounts at their credit union--and make deposits throughout the year.
Raising awareness about credit unions is one of the steps in CUNA's, leagues' and credit unions' Unite for Good campaign to achieve the vision of Americans choosing credit unions as their best financial institution. As that awareness grows, potential members will turn to aSmarterChoice and Unite for Good websites to locate credit unions they can join and find out more.