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CUs Establish Youth Savings Contest

MADISON, Wis.-As part of National Credit Union Youth Week (April 18-24), credit unions will emphasize the importance of saving with the kick off of the first National Youth Saving Challenge. The challenge aims to educate and excite young members about saving and credit unions. At the end of the week...

By Staff Writer | Updated on January 27, 2004

MADISON, Wis.-As part of National Credit Union Youth Week (April 18-24), credit unions will emphasize the importance of saving with the kick off of the first National Youth Saving Challenge. The challenge aims to educate and excite young members about saving and credit unions. At the end of the week credit unions will total the deposits, new accounts, and total number of deposits made by young people through the week to demonstrate the importance of saving. The national results will be released May 3 and become benchmarks for 2005. Each credit union will set its own goals regarding the number of members under 18 making at least one savings deposit; the number of new youth savings accounts opened; and the total dollar amount saved. Credit unions will also control how they market the contest. Educational and promotional materials will be available on CUNA’s Web site. The young savers can also enter a drawing in which CUNA will randomly select 10 credit unions to present $100 each to pass on to the top saver. Credit unions can offer their own prizes as well.

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