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MaPS Launches Youth Program

SALEM, Ore.- Marion and Polk Schools Credit Union (MaPS) is getting into the youth market by unveiling its new Youth Savings Program targeting members from birth to age 17. Designed to provide educational and savings opportunities for young members, to help them better understand personal finance, the new program will...

By Staff Writer | Updated on March 29, 2005

SALEM, Ore.- Marion and Polk Schools Credit Union (MaPS) is getting into the youth market by unveiling its new Youth Savings Program targeting members from birth to age 17. Designed to provide educational and savings opportunities for young members, to help them better understand personal finance, the new program will feature activities geared toward different age groups including in-house and online financial literacy courses and access to the online youth magazine Googolplex. In addition, Youth Savings members have the option of additional products and services such as free checking, starter certificate accounts, Visa Classic credit cards, and debit cards, based on age milestones and, in some cases, completion of one of MaPS’ financial literacy courses. Parental signature is required under age 14 and for certain additional products and services. No minimum balance is required to earn dividends and the rate mirrors that of MaPS’ Prime Share Account. Savers making a deposit of $10 or more into any of their MaPS accounts are rewarded with a “MaPS Buck” (one a month) and a small snack. Available at all MaPS branches, Bucks can be collected and redeemed for awards such as movie tickets, gift certificates, and local venue admission tickets. The first big event under the new program will be National Youth Savings Week, April 17-23, with extra MaPS Bucks, prizes, and special promotions, including two $70 prizes in honor of MaPS’ 70th birthday this year.

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