PHILADELPHIA — Philadelphia Federal Credit Union proved that it pays to save when it awarded the grand prize winner of its Third Annual Youth Savings Challenge, Andre Saunders, a Microsoft Xbox 360 video game system.
Two runners up were also chosen from both the Moola Moola Kids Club and CU Succeed Program to receive gift certificates from Apple iTunes and Toys "R" Us.
Kicked off during National Credit Union Youth Week in April 2006, the challenge ran through the end of summer. Moola Moola Savings Club and CU Succeed Program members were entered into the drawing for every $25 they deposited and kept in their savings accounts.
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For children ages 12 and under, the Moola Moola Savings Club was designed to help parents educate their children about the importance of saving. Through the club mascot Moola Moola, a magical monster from the make believe land of Lotta Loot, children are rewarded for saving their money, not only in the form of dividends, but also with prizes; a quarterly newsletter filled with games and fun facts; and annual youth fairs, celebrations and contests.
For children ages 13 to 17, the CU Succeed Program is a comprehensive program offered through credit unions throughout the United States and Canada geared toward helping teens learn more about handling money and establishing great credit. It offers an interactive Web site filled with invaluable resources including college guides and information, advice on applying for a student loan, assistance in tracking down a summer job, tips on purchasing a car, and a wide array of articles written by teens, for teens.
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