MADISON, Wis. (4/19/12)--Credit unions and credit union organizations nationwide are doing their part to teach their members the value of good financial habits as part of April's Financial Literacy Month.
responses, offering incentives for savings deposits was the most popular selection, followed by Youth Week/Month special activities, and Youth Clubs. The results were:
- Offer incentives for savings deposits: 61.4%;
- Hold Youth Week/Month special activities: 59.1%;
- Sponsor youth club(s): 56.8%;
- Provide youth newsletter/Webpage: 54.5%;
- Host financial education sessions for students: 40.9%;
- Offer student loans: 38.6%;
- Participate in National Youth Saving Challenge: 34.1%;
- Sponsor in-school student branch: 18.2%; and
- Other: 22.7%.
National Credit Union Youth Week and the National Youth Saving Challenge are two events sponsored by the Credit Union National Association (CUNA) in celebration of National Financial Literacy Month.
Credit Union Youth Week is next week, April 22-28. This year's theme is "Be a Credit Union Super Saver."
The Student Life team at Generations FCU, San Antonio, hosted 71 students from San Antonio's Churchill High School for a Financial Scavenger Hunt through the credit union's historic downtown branch. (Photo provided by the Texas Credit Union League)
National Youth Saving Challenge is held during the entire month of April. Last year nearly 146,000 young members deposited $28.5 million into their saving accounts during National Youth Saving Week---with 9,058 new accounts.
Lafayette (La.) Schools' FCU incorporated the Youth Week "Super Savers" theme throughout its branches. With the help of adult marketing postcard art from CUNA, the credit union developed a statement insert promoting its youth rewards savings account to parents and grandparents. Lafayette youth savings account members received a youth week invitation and blank super-hero mask to decorate. The credit union is offering a free coin counter machine, rewards for saving and giving away T-shirts for deposits of $25 or more. Kids can have their photos in costumes holding old-school cloth coin bags. Some of the credit union's front line staff also is wearing own super hero capes.
The Greater Chautauqua FCU, Falconer, N.Y., is again hosting its annual April Youth Month Challenge. The financial institution has about 1,000 child members who can participate in the contest, according to Kelly Haaksma, Greater Chautauqua FCU chief executive officer. Young members can take three fitness, savings, reading and community challenge activities. Once the children complete the challenges, they will be eligible to enter a drawing for an Xbox 360 with Kinect or a Playstation Vita. In total, there are more than $2,000 in cash and prizes, such as an iPod Touch, bicycles and passes to a Splash Lagoon water park.
In recognition of Financial Literacy Month, Extra CU, Warren, Mich., is offering interactive discussions on understanding credit reports and money management for college bound students during April.
The Student Life team at Generations FCU hosted 71 students from San Antonio's Churchill High School for a financial scavenger hunt through the credit union's historic downtown branch. Students got a behind-the-scenes view of the day-to-day operations of the credit union, working with frontline tellers, visiting the vault and drive-thru teller pod and meeting with Tim F. Haegelin, Generations FCU president/CEO (Texas Credit Union League LoneStar Leaguer
Generations FCU also will partner with every college in the Alamo Community Colleges district to bring financial literacy classes to their students. MyGenLife will teach more than 25 classes during April at San Antonio College, Palo Alto College, Northeast Lakeview College, St. Philip's College and Northwest Vista College.
In recognition of Financial Literacy Month, Emery FCU, Cincinnati, launched MyMoney, its own financial literacy program. Emery's National Financial Literacy Month celebration--and ongoing MyMoney program--will address financial literacy for adults and children through videos, online and offline content, and workshops and seminars.