Kids Deposit $1.4 Million In A Week

As a group, young credit union members deposited nearly $1.4 million at their credit unions during the first National Credit Union Youth Week Saving Challenge in April. The Credit Union National Association sponsored the event. Participating credit unions set a goal of $604,000 in savings deposits for the week.

These results now serve as a benchmark for next year’s saving challenge. "Impressive results like these, especially on a first-year effort, truly emphasize the power the credit union movement can have in the lives of our nation’s youth," says Pete Crear, CUNA’s executive vice president of external relations.

Ten participating credit unions also received $100 each from CUNA to present to a winning young member determined through a contest the credit union designed.

For information, contact Philip Heckman, CUNA’s director of youth programs, at 800-356-9655, ext. 4088, or pheckman@cuna.com. Click here for information about youth education.

National Youth Saving Challenge By The Numbers

• 143 credit unions reported results.
• 15,958 young members saved during this week.
• 1,857 new youth accounts opened by credit unions.
• $1,391,720 saved by credit union youth.

Eight-year-old Samantha Roberts receives $100 from Sheraton Hawaii FCU Manager Cheryl Shoji. Proud grandmother Jane Bailon (left) looks on. Roberts was one of 10 winners in CUNA's National Youth Saving Challenge. She wants to use her savings for a trip to Kona on the Big Island of Hawaii. The $18 million asset Sheraton Hawaii FCU opened 11 new youth accounts and accepted 53 youth deposits, totaling $6,254.70.